Logistics play a crucial role in supply chain management as it involves planning and management of goods and services, as well as information from source to destination. The traditional concepts or methods adopted by logistics service providers are inefficient in the current market scenario. This has led several logistics giants to adopt digitalization approach in their processes to boost their businesses. The global logistics industry comprises substantial number of industry-recognized players. These players are continually investing substantial revenues toward newer and advanced technologies with an aim to serve their customers in a better manner and efficiently manage their fleet and gain profits and customer trust.
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The global logistics industry is experiencing tremendous growth since the past few years, which is majorly attributed to the continuously flourishing of e-commerce industry. The industry would continue to grow over next couple of decades owing to rise in manufacturing facilities in the developing countries. However, the adoption of advanced technologies has been sluggish in the past; over the past couple of years, the demand these technologies is likely to increase. The increase in demand for digital technologies in the logistics industry boosts the digitization in logistics supply chain market.
Top Listed Companies in Digitization in Logistics Supply Chain Market are –
Market initiative is a strategy basically adopted by the companies to expand their footprint across the world and meet the growing customer demand. The digitization in logistics supply chain market players are mainly focusing on the development of advanced and efficient products. The adoption of partnerships, contracts, joint ventures, funding, and new office establishment strategieswould allow them to maintain their brand name in the global marketplace.
2020: Pagero and SAP SE signed an agreement to offerextended global reach to the SAP Ariba solutions and Ariba Network. Pagero would offer B2B and B2G exchange of e-orders, e-invoices, messages, and order responses.
2020: Advantech collaborated with President Chain Store Corp. to develop e-cold chain management, wireless e-paper, and energy monitoring solutions with the application of artificial intelligence of things (AIoT) technology. By this, Advantech has supported 7-ELEVEN in updating a futuristic convenience store named X-STORE 3.
2018: Cognizant implemented a supply chain transformation program for Amway India, one of the largest direct-selling FMCG companies of India. Cognizant completed the modernization of Amway’s 28 warehouses in India. With the help of new processes, automation, and systems, Amway has gained better visibility in inventory and warehouse operations.
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