The world is rapidly evolving, and the speed of change, especially technologically is going to increase over the coming years.
The digital revolution has significantly shifted society, impacting companies across all sectors. Businesses must adapt quickly in order to stay ahead of trends and compete.
The supply chain industry has been sustained by well-established rules, standards and practices, where many operators are hesitant to embrace change. However, the world in its current state means a new digital reality needs to be taken seriously.
The increasing importance of key customer and client data and metrics, last-mile delivery and autonomous transport vehicles are a reality that are forcing logistics companies to invest in innovation and move beyond traditional business models.
New logistics technology has created innovative solutions that can aid administration and workflows to better handle data complexity efficiently.
By incorporating software and technology to better support large volumes of data generated daily, the easiest it is to manage, allowing supply chain companies the ability to optimize their procedures in areas such as resources management, inventory control and customer experience.
When taking into account accurate and real-time information, forecasting becomes more reliable which inevitably helps to improve decision making, planning, and operation scheduling.
Undoubtedly logistics companies are becoming far more productive, competitive, and profitable due to the impact of technology.
Some of the major technological trends buzzing in the logistics space include larger data storage, cloud-based applications and trucking software, inventory, distribution network optimization, robotic and automation, mobility technology, predictive analytics, and autonomous vehicles and drones.
All of the technologies, including IoT and artificial intelligence play an essential role in the future of supply chain businesses and transactions.
A Digital Revolution Thanks to The Computing Cloud
Currently, almost half of companies use automatic identification tools, however, cloud computing has been the most quickly adopted of technologies of all, used by half of all surveyed logistics companies around the globe.
What is more, many operators indicated that in the next 2 years, 3-quarters of them will be using this technology.
However, the real sensation is inventory and logistics network optimization tools, with increased usage between within the 41-75 percent bracket.
These incredible tools will allow supply chain operators to achieve massive savings in logistics costs (5-20% reduction in supply chain prices).
Big Data and Fuel Cards
According to a survey conducted in the United State on behalf of SAS, so far only every 3rd company recorded profits resulting from the usage of solutions for data analysis.
In the transport sector, big data can quickly change the role of fuel card systems.
Currently, more than half of the transactions by leading card operators worry about the settlement of tolls. Added to this are VAT refund services, vehicle repair and service, car washes, petrol station purchases, and parking fees.
From big data and fuel cards to the impact of cloud computing, machine learning and artificial intelligence, there’s no doubt that a digital revolution is underway.
If you own a logistics company and still believe the ‘old-way’ is the only, you may have a rude awakening over the coming years when your competitions are advancing in ways you envy.
It’s key to keep your finger on the pulse when it comes to logistics technology, the last thing you want is for your company to be left behind.