If you compare the current logistics and transportation industry with that of a decade ago, you will see visible changes and growth in terms of development. It is now up to businesses to reap maximum benefits out of these developments to the advantage of their business in the most optimum manner possible. The recent advancements in technology and the increasing rate of globalization are some of the critical factors that have brought about these significant changes. We bring to you a few other elements that we feel are impacting the changes and advancements taking place in the logistics industry.
Trends Influencing Changes in the Logistics and Transportation Industry
The e-commerce boom
The past few years have seen an explosive growth of e-commerce around the globe. With mobile phones taking over the world of the internet, customers can even shop on the move. This brings new business challenges in the supply chain and fulfillment of shipments for the transportation industry. This rising demand for goods globally is likely to spark more advancements and developments in logistics to fulfill the growing customer shopping trends.
Modern inclination of customers
The consumer expectations are rising by the day; with e-commerce companies like Amazon promising instant customer deliveries, the pressure is building up on the transportation industry players to deliver goods faster and at a much cheaper cost. Customers today also demand to get real-time tracking facilities and order status of their shipments, which forces players in the transportation industry to employ more advanced technologies into their operations.
The era of digital supply chain
Smart organizations are using IoT and various data-driven analytics in their supply chain to improve the customer service and maximize their efficiency. Companies can leverage advanced technologies such as predictive analytics to help them analyze and mitigate various unforeseen contingencies that may affect the business and the logistics cycle in the future.
Automated delivery of goods
The shift to industrial automation has proved to be a great boon for productivity. Various companies in the transportation industry have started experimenting with drones and vehicles with sensors to undertake and track deliveries. Automation will help in increasing safety, enhancing efficiency, and significantly reducing risks.