Supply chain and logistics technology is trying to break down boundaries and improve the supply chain’s productivity. The standard technological advancements in machine learning and AI are currently growing in areas like shipment tracking, supply chain management software, trucking transportation, user experience, and international transportation. RFID and IoT are not the only technologies to understand in this genre. Read on to learn more about the technology, trends, and evolution of logistics and supply chain management across various markets.
Let's Dig Deeper into Supply Chain and Logistics Technology
Today, when a customer orders an online package, the sites can fast-pace the delivery, offer tracking options, and minimize transportation costs. This advancement is becoming the basis of international shopping and global market capture. The supply chain and logistics technology advancement are apparent in the following areas.
Shipment tracking system
A couple of years ago, if you wish to know when you will be receiving your product, you need to have a phone call with the executive, who will check the database and give an estimate. Today, software advancement in this field allows customers to have live tracking 24/7. Some advanced tracking systems allow shipment notification or messages to the customer. The delivery crew receives customer information about a package, allowing them to contact the customer for coordination. It saves considerable time and cost in delivering the process and minimizes losses due to damage, delay in delivery, lawsuit, and more.
Supply chain monitoring
RFID might be an old-school technology, but it is still in use in numerous supply chains to monitor and track processes. The process allows the crew to have an overall picture of the expected and delayed inventory. Some companies have alarms customized to indicate if the process falls behind the deadline. Today, IoT is calling the shots in monitoring. The future of logistics can become more accurate, transparent to the customers, and faster with the help of IoT.
IoT is not a new technology. It helps the devices to work interconnected. For instance, using your home internet, you can switch on your heating system from a remote location with a mobile app. This example is a simple scenario of what IoT can do in a home. Think about a large warehouse where a manager can assign deliveries, start up the packing process, or even control the entire line with an app, several miles away from the warehouse. It is the first step towards complete automation of the supply chain with minimal human interference.
Connectivity
2.65 billion people are in any one of the social media platforms, connected to the world. Thus, the supply chain and logistics technology growth is trying to take advantage of this enormous connection. Do you want to share any vital information about delivery or industry information to the general public? You can connect with your customers via social media. Many logistic companies try to communicate with their customers on social media platforms, clarify their queries, and even respond to reviews. Online reputation is a critical factor for any business.
Accuracy
The technology in logistics need not be a customized solution just for the supply chain department. Sometimes, the right technology evolving in another genre can be of more exceptional service to this department. The best example is the mobile maps. The GPS helps the delivery team to track the right location of the customers without stopping at every local store to ask for direction. Moreover, the real-time tracking features and best route algorithm allows better visibility and faster delivery.
Customer experience
Both B2C and B2B business models rely on customer satisfaction. Manufacturing is getting more customized to meet the customer-centric market needs. It is not easy to attain overall customer satisfaction if the supply chain lags. Data analytics and automation help to predict customer needs and serve accordingly. Today, ‘digital fitness’ is becoming a standard to develop better strategies for supply chain management. Not every technology in logistics has to be in-house. Some companies use sharing business models, drop shipping, and other methods to keep their logistics less cumbersome.
Beyond these, the thriving logistics technology trends also cater to better efficiency, faster time-to-market, customization, dynamic capacity inclusions, and a decrease in overall cost.
Read more on emerging supply chain and logistics technology.
The logistics industry has been the most profitable business in recent years.
Due to the increased demand and raise in population, the E-Commerce & Supply Chain industry is reaping profits.
However, this is considered as the most competitive and challenging business across the globe.Since manual processes are not going to help manage the huge volumes of data, one should have streamlined business flow and come up with unique business strategies to cope up with the current trends.
Additionally, one should also understand and leverage new technologies to make this effective.Logistics are one of the greatest and profitable industries which can make money.
We have discussed the Top 10 Technology trends in the Logistics industry for the year 2021.Learn more at Technology Trends to be noted for the Logistics Industry in 2021.
August 24, 2019: FreightBro, a digital platform for freight forwarders and Journal of Commerce (JOC.com), a portal on container shipping & logistics have organised the latter's first ‘India Logistics Technology Summit’ in Navi Mumbai on August 22.
Eric Johnson, senior editor, technology, JOC, moderated the panels which deliberated on how software can make key ocean freight processes and capabilities more efficient and less costly, potentially positioning India as the key growth market for world trade in the coming years.
Speaking on the theme ‘Keeping Forwarders in the Game: How technology providers are enabling India’s small freight forwarders,’ Raghavendran Viswanathan, CEO & co-founder, FreightBro said, “Technology has become a de facto not a value-add any more.
The acceptance curve of the freight forwarding industry for digitisation will be gradual and eventually inevitable.
A time will come when the freight forwarder will make decisions looking at dashboards rather than just using it as a price comparison tool.
We are glad to contribute to the logistics industry by co-hosting industry-led events with the presence of a rich mix of professionals who are working towards digitising freight forwarding.”
Warehousing is changing day by day; before Technology, it is very difficult to manage the warehouse operation.
Several operations are going in the warehouse today we talk about a few of them and try to explore how it impacts warehousing daily bases operation.Drone Changing Deliveries Day By Day:As the demand for online shopping increased, the different shipping method is also introduced timely.
The drone is one of the fastest ways to deliver things from the warehouse directly to consumer doorsteps.
Many new companies build different types of drones.
These drones automate and automatically pick up the parcel from the warehouse and deliver it to the drop off location.
There are several logistics and air freight companies that adopt this technology and ship product over the drones.RFID Tags Fix The Complex inventory:IoT is changing Technology Rapidly; several new things are incorporated daily.
The GlobalTranz VisionGlobalTranz was founded in 2003 with a vision to deliver innovative technology to the Less-Than-Truckload (LTL) space that would allow shippers unprecedented visibility, options, flexibility and control over their LTL transportation.
Since 2003, GlobalTranz has rapidly expanded into a leading logistics technology company and award-winning provider of multimodal transportation services and solutions.Exclusive Services, Solutions and ProductsThe combination of transformative technology, exceptionally low rates, a robust agent network, and great service led to rapid growth which continues to the present.
Today, GlobalTranz is a $1.4B organization, with 11 offices throughout North America, including a regional office in Monterrey, Mexico.
The company provides complete multimodal services, from small parcel to project logistics and everything in between, including LTL, truckload, expedite, intermodal, cross-border transportation and international air and ocean shipping.Additionally, GlobalTranz provides consultative Managed Transportation Services (MTS) that allow its clients to focus on growing their business while utilizing their team of experts to manage their freight.
Whether a shipper wants to outsource all of their logistics operations or just a specific segment of their transportation needs, the GlobalTranz team works as an extension of the client’s team to design the right solution to fit their organization’s needs and goals.The dynamic GlobalTranz team also works as a partner to provide supply chain planning, day-to-day execution and strategic recommendations to reduce their freight costs, improve operational processes and deliver a competitive advantage.Proven LeadershipAs Chief Executive Officer of GlobalTranz, Renee Krug brings tremendous leadership skills, domain knowledge and 30+ years of multi-discipline experience that drive the overall strategy and direction of the company.
She is an action-oriented executive who drives meaningful initiatives that create success.
