Trends that are shaping the Logistics Industry
The ever-changing manufacturing capabilities, consumer behavioural patterns, technological abilities and business models have made logistics one of the most dynamic and challenging industry of this era. We have evolved from an age when logistics was all about phone calls, fax machines, physical bills and receipts, and large warehouses with fixed container sizes to the one we experience today – paperless with customized packaging and last-mile deliveries.
Like every other industry, logistic enterprises are set amidst cut-throat competition whose survival depends upon how early they tune in to the latest industry trends. Institute of Logistics and Aviation Management in India thus brings you the top industry trends to look out for.
Evolving Customer Expectations -
Efficient adoption of digitalization and a paradigm shift from retail purchases to e-commerce websites have put enormous pressure on the logistics industry. The supply chain management has to be stronger than ever to meet the rising expectations of the millennial consumer – lower cost, zero defects and faster delivery. Flexibility, transparency and traceability in shipments and varying lot sizes are other challenges being faced by the industry. With delivery options like normal, next day and same day openly available to customers, it has become imperative for companies to change their strategies and collaborate efficiently.
Technological Breakthroughs –
The need for being technological advance in indisputable for logistic enterprises, unless they are willing to take the risk of failure. Given the gigantic amount of data accessible to the sector, data analytics can be well conducted to define the future technological trends and develop a roadmap to success. Clever adoption of cloud technology and application of artificial intelligence techniques to data analytics can make the industry more flexible and sustainable. The variation in delivery schedules, package sizes and consumer expectations can only be managed well by being more automated and advanced on the technological front.
Higher Collaboration –
Moving ahead, collaboration, consolidation and last-mile partnerships shall play a major role in the success of logistics firms. Shared spaces, resources and information amongst enterprises shall increase the operation efficiency and bring down the cost. Though many big players currently work in collaboration with small local companies for faster shipments and better services, they still refrain from sharing information. This approach shall dissolve in time as the physical internet replaces the current logistics model and acts as a game-changer in the industry.
To know more on ways to adapt to latest industry trends and develop a fantastic career in it, call us at 8448996847.