From e-commerce deliveries to restaurant chains to service providers, the logistics industry is constantly evolving. The latest developments involve technology-based management to reduce expenses and increase efficiency. With changing consumer behavior, many organizations will have to reshape their entire business to become more active with an efficient infrastructure at the heart of a successful customer-centric business.
Indian logistics has been growing at an exponential rate since the past five years which has transformed the industry to one that provides fully integrated services with the support of technology. Today, the industry boasts of a clear focus on contribution and sustainability.
Certain key trends which are emerging and are expected to shape the future of the industry and help businesses become more viable over time are:
- Use of technology like deep learning and AI to automate supply chain and remove human dependency for decision making and building reliable platforms. Evolving AI solutions including the use of gesture recognition in the procurement process and self-driving vehicles that will navigate without human input.
- Use of real-world scenarios and constraints to continuously adapt and improve processes to advance dynamics and resiliency of industries, leading to greater customer responsiveness and ultimately higher revenue.
- Use of robotics to introduce automation in warehouses to reduce human labor and time involved. Use of technology to strategically manage all delivery channels depending on their customers’ location, required level service, price, etc.
- Use of payment gateways and technology connected to multiple banks to reduce failure of transactions.
- Real-time visibility for improving the efficiency of companies by having a precise status of orders, drivers, and customers. Customers are aware of the status of their purchase and have the ability to interact with their driver. They can directly get in touch with drivers and keep a track of their services.
- Use of augmented reality by using “smart glasses” to read product information, scan barcodes, etc. thereby increasing the efficiency in handling products.
- Use of demand-driven supply chain to enable retailers to predict the requirements of the consumers, thereby bringing in, on-demand availability of products. Consumer-centric supply chain operations to ensure that the expectations of the customers are met.
With changes in business and consumer choices, companies will need to prepare and stay up-to-date on the latest trends in logistics. Rapidly emerging technologies point us towards a future where transportation is becoming increasingly automated. The shift from human-driven vehicles will be transformational for current business models and local economies.