Logistics is the key element for effective supply chain management. Logistics is defined as the management of how the various resources are acquired, stored, and transported to different destinations. It ensures that the goods are delivered on time and customers remain happy. Logistics companies are under immense pressure to increase profits and reduce operational costs.
Many enterprises are outsourcing their logistics BPO Services. As an industry, logistics faces many challenges. Problems are not only restricted to quality and time, but improvement in process standardization and automation are also of great importance. With new emerging technologies like IoT, platform, and analytics, companies are realizing the value of these technologies and using them to bring innovations in their business.
Demand of IoT, Platforms, and Analytics for Logistics BPO Services :
1. IoT
There is rapid development in the field of the Internet of Things (IoT). The conception with IoT is to access anything and everything with the internet. Internet of Things can effectively decrease costs, enhance productivity and process efficiency. By having a wide range of objects connected to the internet, manufacturers will have insight into the operational status of their products. Companies will benefit from new revenue streams developed by advanced business models and services. IoT will improve tracking of equipment, machinery, etc. using sensors and connectivity, which helps organizations benefit from real-time insights. The data collected from the logistics and supply chain will help reduce inventory and downtime due to maintenance.
2. Analytics
Analytics is the process conducted by organizations to analyze the logistical function and supply chain to ensure the smooth running of operations in a timely, and cost-effective manner. The idea is to make sense of the data you have, to analyze it and share better business prospects in the near future and how you’re going to do it, is with the concepts of analytics. Based on analytics, important business decisions can be taken based on real-time data. It will help to understand and control all your logistics data which will make a big difference in business activities and enables you to take full control of your organization. Businesses prefer analytics mostly for transportation cost analysis and warehouse operating cost analysis. The advantage with analytics is that the companies can go to a single source for high-quality data about the performance of a process and the data is measured and recorded consistently.
3. Platforms
A ‘platform’ approach increases security and provides higher performance and redundancy. Digitalization is a platform that is shaping almost all the industries across the globe including the logistics industry. Digitization brings a significant reduction in supply chain costs while giving a rise in the overall revenues. The use of digital channels in the logistics industry will allow the logistics service providers to give transparency to the customers while optimizing solutions for increased safety and efficiency. The term digital transformation is also related to machine learning. Machine learning uses a feedback loop. The digital platform can predict whether a package will be delivered on time, and then see whether the package really did arrive on time.
Cloud platforms are the future for logistics BPO. The impact of the cloud on logistics can sometimes be so overwhelming that it’s hard to find out exactly what it is changing. According to the latest survey, 18% of logistics professionals say they have already adopted cloud-based solutions and 37% are evaluating them. Hosting your data and systems in the cloud can help you protect your data and keep goods flowing through your supply chain. Most cloud hosting providers offer high availability guarantees along with hosting data and systems in multiple locations for data recovery when disaster strikes. Previously, the analysis of data that is gathered requires both a data entry clerk and a person to conduct data analysis. The cloud, in combination with the IoT, has enabled rapid collection of data from various resources and analysis of this data.
SaaS for Logistics management is catching a lot of attention among investors. SaaS solutions for Logistics are designed to meet the needs of businesses. They are designed to simplify and manage difficult logistics problems by taking an integrated, end-to-end approach. SaaS solutions allow operators to have access to advanced route planning capabilities on demand, helping them to avoid the high-cost investment.
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Did you realize that the terms blockchain and Bitcoin aren’t synonymous?
To put it another way, it’s an open, distributed ledger (database), which means the information stored in the blockchain is distributed (duplicated) among multiple computers and hence decentralized.
However, Bitcoin is only one type of cryptocurrency; blockchain technology also powers other cryptocurrency networks.
Moreover, it was unusual because it tackled a prevalent problem in digital currencies: “double spending.” This guarantees that each Bitcoin is one-of-a-kind and cannot be duplicated.
Because all Bitcoin transactions are immutable and confirmed by a network of independent miners, you always know where your money has gone.
While blockchain was created for digital money, it is currently being used for smart contracts and tracking items along the supply chain.
Visionary businesses are leveraging advanced technologies to enhance performance, resolve security issues, meet dynamic customer requirements and ensure convenient remote work.The technological innovations led to the Digital Transformation in the Food and Beverage industry.
have knocked out the traditional business model ensuring seamless operations and customer satisfaction.
Accelerating innovations in the food and beverage industry, Digital Transformation contributed to every aspect of the Food sector right from supply chain and inventory management to customer satisfaction and convenience.Let’s take a look how at Digital Transformation trends in the food and beverage industry: IoT and AI-Enabled Supply Chain Management:Over the years, we have heard of malpractices in the food industry like mislead labeling which raised concerns of transparency.
RFID tags or smart labels leverage the Internet of Things to track the products through the supply chain.IoT Enabled Enhanced Food Safety:IoT-enabled solutions are driving the Digital Transformation journey of the food and beverage industry enabling flexibility.
The real-time temperatures help the organizations to closely monitor the data points for food safety assuring live cold chain management.In case the data collected from the sensors report potential issues, the staff is advised to carry out the requisite food check-up.
The food packaging is tagged with various sensors easing the tracking process thus minimizing the time and endeavor spent on it.Efficient Logistics: Currently,the Internet of Things and Artificial Intelligence are being used by food and beverage companies for efficient logistics operations.
