Automation : Automation On-demand deliveries were already on the rise even before the pandemic, forcing businesses to make major changes including automation. The COVID-19 pandemic accelerated the need for automation in 2020 and 2021 as businesses across industries are finding ways to minimize face-to-face interactions.
Blockchain Technology: Blockchain's decentralized digital ledger is capable of improving transparency for consumers, providing them with a chance to track the entire journey of their orders. It also makes audits more transparent and improves security by revealing attempted frauds.
Artificial Intelligence and Machine Learning : AI and ML are also being used for supply chain predictive analytics and are techniques that are grabbing the attention of industry players. They are helpful in demand forecasting of products so logistics companies can optimize the use of their warehouse by segregating low demand products from high demand goods.
Internet of Things (IoT) : In logistics, expanding IoT results in the growth of various connections between goods, packaging, transportation hubs, and vehicles. It offers more data that helps in managing assets remotely, predicting risk, ensuring proper cargo handling, and forecasting traffic congestion. IoT when combined with blockchain technology may offer end-to-end visibility of packages.
Transportation Management Systems (TMS) : TMS systems are growing in popularity especially among logistics firms. And rightly so given that many technological tools require proper organization and management in one common center. TMS is being used to manage carriers and automation. It is useful for tracking delivery drivers in real-time, lowering freight expenses, increasing transparency, and improving overall customer satisfaction scores.
Predicting the next global supply chain disruption and its impact
