Top Logistics Trends that Will Impact Logistics Management in Future
Top Logistics Service Provider in India
The emergence of e-Commerce in recent years due to the rising digital literacy, the logistics industry is witnessing a change from the past few years. The easy availability of the smartphone and the internet has revolutionized the industry. The logistics industry is trending across both the developed and the developing nations. The logistics industry also has an influence on the development of retail channels requiring efficient inventory management and warehousing solutions and help customers with their purchase decision. Their business is attracting many businesses in other sectors to fulfill their logistics movement.
Below are some top logistics trends that will impact logistics management in the future:
The next-generation logistics and supply chain companies are moving towards sustainability and customer-centric in terms of global supply chains. To maintain rigid and dynamic relationships with the businesses men’s transparency is important. Today’s next-generation industry demands automation for increased efficiency.
1. Blockchain technology
The implementation of blockchain technology is one of the prominent logistics trends that is found in the industry. Its emergence has enabled the logistics business to gain the contracts easily via digital mode. The use of this technology allows the different stakeholders of the company like manufacturers, suppliers, customers, warehouse managers, and others to create a simple and transparent system for recording transactions, tracking assets, tracking expenses, monitoring sales, and documentation of the necessary items involved in the logistics process. Blockchain technology has also helped in gaining traction in the global blockchain technology market in the transportation and logistics industry.
Every industry in the world is digitalizing its business and the logistics industry too. With the increase in the number of smartphone users and internet consumption digitalization is a must. The consumers are also getting aware about the best business available in the market due to rising digital literacy. Digitalization is expected to bring a significant reduction in the supply chain costs while giving a considerable boost to overall revenue. The integration of software solutions in the logistics business has shown a significant improvement in performance and efficiency by eliminating common errors.
3. Outsourcing 3PL
The third-party logistics service providers are accelerating the global logistics market by supporting the logistics companies. The fact is that during 2017 the 3PL was able to contribute the highest to the global logistics market share. By outsourcing 3PL the logistics companies eliminate the burden of transporting and movement of goods as 3PL are responsible for taking care of end-to-end transport of goods within the mentioned time frame and adding a security layer to the assets involved in the movement of goods.
4. Adoption of data analytics tools
The adoption of data analytics tools helps to understand the business in a simple manner. Data are available to track the expenses, generate sales reports, customer relation management, study the margins, etc. It makes investments and purchase decisions easy to study and analyze. Over 90% of the shippers and 3PL believe that data-driven decision making is crucial to supply chain activities as big data shows the evidence and helps to improve quality and performance by offering supply and demand forecast, route optimization, labor management, solve common problems.
5. Logistics safety
As the number of users increasing on a common platform there is always a threat to the user's and company's data. So, it is necessary to protect the data from cyber-attacks and ensure logistics safety. Companies are adapting for the logistics safety solutions as their topmost priority. They are now focusing on offering secure logistics solutions.