Innovation and technology are paving the future of logistics. Technology is continuously improving, and businesses are at the point where connectivity matters in everything they do. Information technology has been revolutionizing how business is carried out by global and supply chains.
With time, almost every business with the help of the Internet of Things technology, and various firms like JD Edwards provide software solutions. Read further to discuss how the emergence of tech will shape the future of logistics.
1. Easy Delivery with Drones
Drones are relevant in the logistics industry. They are suitable for providing relief for remote and crowded areas. Drones fly above ground, which reduces inconvenience by traffic, police stops, or big gatherings. As much as they have a limited weight-carrying capacity, a network of drones can support the first and last-mile logistics network.
Infrastructure surveillance also helps in improving operations. That is why businesses are embracing the idea of using drones for their logistics.
2. 3D Printing Will Increase Last-Mile Shipping.
3D printing is essential since it encourages both local and regional production. With 3D printing, it becomes easy to accommodate personal customer requests during productions. The technology is used to print out the products closer to the customers. 3D printing reduces the number of products being shipped from distant locations, influencing a shift in the routes.
There will also be an increase in local production sites located closer to consumers since there may be increased last-minute shoppers and retail buyers. Moreover, there is no need to store any replaceable product parts since a 3D printer will easily print them on demand. It saves time and general costs in the business.
3. The Impacts of IoT technology.
26% of logistics firms are currently using M2M technology and a further 46% plan on using it in the future. The majority of business owners are very optimistic about IoT capabilities in their firms and are ultimately looking forward to it. A minimal percentage believes it will have no impact on their businesses.
IoT allows business managers to comprehend what is happening at a given moment in their business environment. It gives them real-time information concerning the status of inventory, present conditions, and energy consumptions. IoT also helps logistics firms to monitor the flow of materials.
The Internet of Things helps in monitoring people and equipment and increases their security and safety. It can predict possible threats and dangers and warn the business owners before a major crisis occurs.
IoT increases the chances of a business firm scaling a broader scope of consumers since it brings order to different players and moving components in the logistics industry. JD Edwards software integrates almost all processes, functions, and various business elements in one system for easy operation.
The benefits of JD Edwards ERP in the logistics industry include;
- Business Intelligence and Analytics.
- Multi-lingual, multi-site, and global operations.
- Integration with E-commerce solutions.
- 360degree customer view through integrated CRM.
- Warehouse Management and data collection.
4. Driverless Vehicles
The majority of retailers and manufactures would like logistics firms to gain more expertise and knowledge of driverless vehicles. Some of them can provide expert knowledge and service, while some plan to provide driverless vehicle services. An AXA UK study found that driverless vehicles are likely to save the logistics companies 34 billion euros.
5. Use of AI
AI makes it easy to unlock the employee’s potential via advanced computing to time-consuming tasks that are difficult for humans. Workers put on wearables that use voice recognition, allowing them to carry out their tasks while also engaging with WMS.
Other Trends That Will Affect the Future of Logistics include;
- Growth patterns. Growth in the logistics industry will not only be driven by imports and exports. Population and economic growth will be centered in urban areas, and infrastructure is now a significant influence on growth.
- Multi-channel sourcing. Consumers are sourcing products from multiple channels such as e-commerce and brick & motor shops. The industry will, therefore, need to support their consumers’ multi-channel strategies.
There are very many trends that will continually affect the future of the logistics industry. These trends have increased flexibility and the easy determination of consumers’ needs. Generally, they reduce costs, but these trends aim to reach a broader customer base efficiently and on time in detail.