The scenario of the logistics industry has changed drastically. Today the CEOs and CFOs are standing over an edge with ‘innovation’ being on one side and ‘death’ on another.
Innovation has become an invincible ingredient to relish the true taste of growth in the logistics business.
Logistics business using on-demand solutions is the new trend in the market. It’s not been long enough that we noticed drone delivery, automation, and IoT as part of science fiction, however, they have now become part of the industry.
The main role of the on-demand logistics market is the growing efficiency of product transportation by trucks, cost-effectiveness, real-time tracking, etc. In 2019 the market was valued at 9.1 billion $ and now it is estimated to lift to 75 billion $ by the year 2030 at a CAGR of 21.1%.
How to compete with the growing market
With every passing year technology changes, and so does its contribution to various industries.
While some manage to understand and amalgamate the innovative technologies, few lack in trying to fill the loopholes.
Well, by the time they ensure a hurdle-free boulevard for their business, the technology changes.
It has been often noticed that the companies who fail to sustain in the innovative market, could not understand the areas primarily.
What are the key areas to focus on mobile technology for logistics?
Before understanding the technology, let us try to understand the key areas where mobility is assisting supply chain & logistic businesses:
1. Storage and distribution
The technology is making advancements to enhance the productivity and avail flexibility to distribution centers and warehouses.
The logistics business indeed remains flooded throughout the year. Logistics mobility solutions has added the much-required essence of ease in the operations with time.
3. Supply chain
With the help of mobile apps, the business can now easily manage ERP, business intelligence, transport control, and control tracking.
4. Transportation and 3PL
Making it easy to calculate hours, verify solutions, traffic status, real-time fleet tracking, and route optimization, fleet management software has no doubts assisted the logistics business owners to attain their set targets.
How to build a seamless logistics transition business?
The craze of mobile app development rests upon a simple concept, ‘Bridging the gap between present and future’.
In order to build a seamless logistics transition business, it is important to avail your business a mobility solution that can do the same.
Here are seven ways to crack the success shell:
1. Intensive use of IoT
The IoT is expected to play a major role in transforming the future of logistics industry.
It’ll help in increasing the speed of work and simultaneously decrease the overall costs involved and the waste.
IoT is primarily used for machine to machine communication and to improve efficiency.
Keeping the same a step ahead, it’ll help you to communicate with new technologies like AIDC, RFID, etc.
2. Bluetooth is trending
Bluetooth technology has grown itself to be massive need of time. It is believed that in coming a time, you’ll be able to notice Bluetooth-enabled devices mounted on loaders, docks and at other stages of tracking shipment tracking and ensure logistics accuracy.
The advent of high-end Bluetooth technology can indeed ensure your quality control and accountability over the entire process.
3. Using robots
Amazon has already taken the step in this stream. They have installed robots to carry shelves to the human resources, and are planning to automate their business globally.
It is expected that in the year 2017, more robots will be seen assisting logistics business in loading, unloading, and delivering the cargo.
4. Autonomous vehicle will be a game changer
These can be called as one form of robotics. In a recent headline, Volvo gained the attention by announcing that they’ll be soon coming with a self-driving version of FMX trucks.
Taking the announcement a step ahead, they have also started testing the trucks inside the Boliden Mine in Sweden.
They aren’t the only one to enter the market. Another entrant is Uber’s Otto, which made its first delivery last year.
5. Electronic logging devices
Electronic Logging Devices help impeccably in enhancing the growth and productivity of any business.
Logistics business being largely dependent on the swift movement of vehicles, it is expected that more logistic companies will be installing electronic logging devices to their vehicle for better results.
6. Efficient inventory management
Inventories are the backbone of any logistics business. It can figuratively make or break your business.
The owners must possess the leadership skill to manage their inventory streamline their operations and most importantly the relationship with the customers.
At last, what matters is the fact that whether you’re organized or not. To ensure that you can rethink and revamp your inventory practices. You ask yourself the below questions.
- Who manages the inventory?
- Do you have quality control as a priority?
- Is your existing support scalable for future growth?
Prioritizing all your tasks along with the inventory management helps your business to grow incessantly and eliminate waste.
7. Automation of communication technologies
Automation is a key thing that you must focus on. Automating most of the operations and specifically communications can play a major role in curtailing your overall operational costs.
Moreover, with automation you can permanently get rid of manual entries and reports.
Automation effectively decreases the time required to fetch the information to the customer and thus increases the overall productivity.
Additionally, it helps in a smooth flow of decisions from which your company and customers gets benefitted big time.
We are noticing the advent of technology in almost every sector. However, talking about logistics, in particular, the innovation is going to the next level.
At this stage, it is important not only to have the knowledge about new technologies but also about the ways to implement it like a pro.
If you aren’t from a technical background, consider hiring a technical team which can guide you about the same.