Introduction
The courier and logistics management sector is the backbone of the economy. Businesses can thrive with robust infrastructure and a powerful logistic network. It is fair to mention that good logistics can help sales and customer service departments by improving delivery experiences. An official report has predicted that the global logistics industry will grow from USD 7641.20 billion to USD 12,975.64 billion in the year 2027.
Evolving technology is set to play a crucial role in the future of logistics industry. In this post, we will see how emerging technologies can bring digital transformation in this sector and reshape its future.
Trending Technologies for the Logistics Industry
The logistics industry thrives at a rapid pace on the edge of online shopping. Increasing demand for various products worldwide has compelled businesses to take assistance from technology. Be it ensuring a timely delivery or real-time tracking of the shipment, technological advancements can work wonders in the shipping and logistics sector. Here are the top five technology trends that are capable of changing the future of the sector.
1. IoT
Logistics management systems and IoT are becoming inseparable. GPS-based devices act as connected devices and are useful in tracking products during the delivery process. Businesses can improve their logistics processes by utilizing data that GPS devices have collected. IoT technology powers RFID tags, low-voltage networks, and even satellite trackers.
Online retailers employ RFID tags to monitor the movement of their containers in real time across distribution centers and warehouses. IoT technology plays a pivotal role in streamlining supply chain management in the logistics sector. In the coming time, we will see more applications of IoT in this sector.
2. AI and Automation
Modern logistic management systems encompass a range of functions, including warehousing, supply chain management, and return handling, which are increasingly harnessing the power of automation and artificial intelligence (AI). AI can facilitate route planning, predictive analysis, and efficient product movement strategies in modern logistics.
AI is set to benefit both large-scale and mid-sized eCommerce companies in managing daily operations, streamlining the logistics process, and monitoring the movement of shipments efficiently. Businesses can easily manage their daily processes using automation and bring digital transformation with the help of Artificial Intelligence.
3. Big Data Analytics
Businesses can enhance their e-commerce logistics by leveraging Big Data for real-time analysis. Big data enables courier and logistics companies to enable informed decision-making.
The manual management of extensive supply chain data is getting challenging, as oversight lapses can result in human errors with long-term problems in various operations. Big Data solutions have been developed to facilitate real-time analysis to address the growing complexity of data handling.
Big data analytics offers valuable insights into patterns and trends within e-commerce logistics, equipping companies with the ability to predict and optimize their overall supply chain and logistics processes.
4. GPS and Barcodes
The logistics industry extensively uses GPS technology on delivery vehicles and mobile devices. As technology advances, the accuracy of GPS-enabled devices has increased significantly to help drivers and facilitate customers to get the exact location. GPS and barcode are tracking technologies that are useful in monitoring delivery vehicles and getting traffic data in real-time.
Shipping and logistics companies can also use barcodes for better inventory and supply chain management. The barcode technology is highly compatible with printing and increases the overall feasibility. We can expect that GPS technology will become more accurate over the period to find the exact position even in remote areas.
5. Drones
Drones and self-driving vehicles have brought radical changes in the logistics industry. Companies like Uber have embarked on a courier delivery using self-driving trucks and Tesla is on the verge of bringing its self-driving truck for commercial use.
Amazon Prime Air is a futuristic delivery system where Drones will drop off packages at the customer’s doorstep. Though this concept still looks like a distant dream, we can expect it to become a reality in the coming years with evolving technology. The groundbreaking technology of drones and such self-driving trucks are ready to take over the shipping and logistics industry.
Apart from these major trends, RFID (Radio-Frequency Identification) technology can save a lot of time and effort in inventory tracking. Though barcodes are similar to RFID tags, these tags are more enticing and can support data processing more effectively than barcodes. The garment industry, entertainment, and other industry sectors use RFID tags for better experiences these days. RFID is also highly useful in supply chain management.
Let’s have a brief on the future of logistics.
Future of the Logistics Sector
The future of this sector depends on a digital transformation driven by technological advancements and evolving consumer expectations. While meeting supply chain management-related requirements through a robust network, cost reduction and higher efficiency will remain at the center.
Real-time tracking of shipments will enable companies to gain unprecedented visibility for improved decision-making and process optimization. Sustainability will also be a key focus, as the courier logistics industry strives to reduce its environmental impact through the adoption of greener practices and eco-friendly technologies.
Moreover, the logistics sector will adapt to the growing e-commerce landscape, with last-mile delivery solutions becoming increasingly sophisticated to meet the demands of the digital age. As this sector continues to evolve, collaboration, innovation, and adaptability will be critical for its success.
Concluding Lines
The Shipping and logistics sector is growing at a rapid pace worldwide. Companies involved in courier delivery or logistics need to take assistance from emerging technologies including AI, big data analytics, and IoT. Along with these technologies, advancements in GPS and RFID can also play a key role in increasing visibility and accuracy in the sector. It is interesting to see how these technology trends will shape the future of the logistics industry.
Lastmileplus is a preferred courier and logistics delivery management solution with enterprise-grade features. Do you want to know more about this solution? Contact us through social media channels including Facebook or Twitter. You can also drop us a mail at contact@lastmileplus.com to know more about this all-in-one courier management software.