Emerging Technologies in Logistics

Emerging Technologies in Logistics

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Logistics Logistics has undergone a huge transformation over the past 10 years thanks to innovative technologies such as Artificial Intelligence (AI) Blockchain Technology Increases Transparency. Driverless vehicles 3D printers and Drone Delivery Internet of Things (IoT) It's a shift in the industry caused by the need to increase delivery times, make the product cheaper and improve the way companies interact with the environment. For a decade the greatest success in supply chain management is the ability to reduce costs. Today, this goal is combined with customer satisfaction, efficiency and sustainability. Ethical behavior plays an important role in the decision- making process in strategic supply chain management. The organization invests in technology to create an efficient, sustainable and socially responsible supply chain.

Innovative supply chain technology tools

Internet of Things (IoT) Internet of Things plays an important role in logistics. Since IoT is capable of transferring data over any network, it can monitor people, employees, and equipment, while ensuring their security and safety. It enables managers to examine and understand ongoing activities in a factory or company, such as the performance of machines and equipment, energy consumption, ambient conditions, the status of inventory, and the flow of materials, at any given point in time. — Streamlined Connectivity across Devices — Enhanced Visibility and Connectivity while also reducing costs Wearables and mobile devices such as Apple Watches, Fitbits, and smartphones are especially useful in warehouse settings. especially Wearables provide solutions that lead to a well-established supply chain. \"No Touch\": Eliminating labor-intensive selection of items from inventory to process customer orders. Also known as other IoT \"picking\", warehouse and logistics managers can safely track inventory and monitor equipment.

Artificial Intelligence (AI) Artificial Intelligence and Machine Learning AI and machine learning create fully-automated or semi-automated processes and procedures for supply chain optimization. Optimization improves forecasting, planning, implementation, and maintenance in logistics by using AI and machine learning to simulate human performance and knowledge. The world now consists of 1.1 million working and functional robots. They are efficient and reliable when it comes to manufacturing, production, and delivery. Moreover, they can work alongside human workers in factories. Japan and the USA are countries that have already implemented robotic services and artificial intelligence in several of their logistics processes. The near future will witness a shift, where robots will replace blue- collared jobs and customer service will be less frustrating by the assistance of chat bots.

Technologies predicted to impact supply chain management in the future

Driverless vehicles and drone delivery: Today’s customer wants to know where their shipment is and what’s going on with it, down to the very last detail and minute. Logistics companies want to understand how their supply chain partners are working and moving freight most efficiently. To get the level of transparency that clients are demanding, blockchain logistics technology is stepping in. Driverless and drone delivery options provide companies with a solution to a variety of issues. Not only does this lower costs by lowering the amount of human intervention, but it also gives more access to remote and hard-to-reach rural areas. While some have been skeptical about this technology in the past, it may be a positive solution for the future, particularly in light of the worsening shortage in available human drivers.

Blockchain Blockchain is a digital database that stores blocks of information, recording every change and piece of data chronologically. The information is public, accessible, and verifiable. That means anyone can access it to see how and where the freight is moving. This kind of transparency helps to: • Reduce information disruption • Eliminate unnecessary intermediaries and costs • Simplify paperwork and inventory process • Prevent delays • Minimize human error and fraud • Enhance visibility for shipment tracking • Reduce the costs of goods • Blockchain technology is the new wave of tracking freight and ensuring the leanest and streamlined supply chain. Learn why you need blockchain in your 2020 strategy here. Blockchain has the potential to transform the supply chain industry by providing more traceability and security. Widely popularized by its cryptocurrency ability, the blockchain can also assist companies by managing contracts and agreements and monitoring financial transactions and products.

3D printers are not just a novelty. These have become an printers integral part of operations for many manufacturing businesses, 3D printers can print spare parts and sometimes the entire product. Using a 3D printer can replace the assembly line at the factory. Eliminate or reduce the need to move inventory and reduce transportation and warehousing costs. 3D printing can have multiple positive impacts on the logistics industry. It can completely alter the warehousing system. Development in the 3D printing technology implies that manufacturers can then opt for the option of printing-on- demand. This will in turn eliminate (or at least significantly reduce) the need to carry inventory and ultimately reducing the transportation and warehousing costs.

5There are benefits of logistics that companies and business people will receive. 1. Fundamentals for business growth Any business with a good transportation or logistics system will have a big advantage over competitors. 2. Reduce costs, increase profits Systematic and efficient logistics management. It can help reduce costs and in crease profits for the company in the long run and benefit from the cost-effectiveness of each transport. 3. Improve service efficiency transportation or logistics able to facilitate and satisfy customers. 4.Create added value to the product 5. Speed ​of communication As you know, logistics ca n help increase service Because the logistics sys tem is connected to a efficiency when the efficiency of the service variety of information technologies. make sales increases The value of the product will also increase. respond quickly and can maintain good inventory.

Nowadays, logistics is one of the elements that allows organizations to expand and acquire a significant competitive edge. Any business or brand that has an effective logistics management system will be able to save money, increase the efficiency of customer service while also providing value to the product.

THANKYOU reference https://supplychainmanagement.utk.edu/blog/emerging-technology-in-supply-chain- management/ https://www.allerin.com/blog/5-emerging-technologies-shaping-the-future-of-logistics https://thescarbroughgroup.com/5-emerging-technologies-that-are-changing-the-future-of- logistics/ https://www.redwoodlogistics.com/the-most-popular-emerging-logistics-technologies/