What's next for the logistics industry?

By Sean Galea-Pace
The logistics industry is undergoing significant change. Digital transformation is a major enabler, and is causing global logistics companies to implem...

The logistics industry is undergoing significant change.

Digital transformation is a major enabler, and is causing global logistics companies to implement new technology such as artificial intelligence (AI), robotics and automation, IoT and Big Data, among others into operations. This new technology has allowed firms to speed up processes and increase efficiency significantly.

By 2030, the logistics market is set to be worth around US$75bn, according to LogisticsIQ’s latest study “Next-Gen Supply Chain Market - Global Forecast to 2030.” This has seen a massive increase from US$32bn in 2019. The supply chain space today requires greater visibility and transparency in the data process, faster adoption of IoT, increasing investment in supply chain innovation as well as huge demand from e-commerce.

SEE ALSO:

That increased demand in e-commerce has enabled robots to enter warehouses, sorting areas, in addition to now being deployed for micro-fulfillment and last-mile delivery purposes. Across the entire logistics chain, from order intake to customer delivery, it results in faster order fulfillment, greater order accuracy, reduced damages and improved labour productivity. Large retailers such as Amazon, JD and Walmart use robots to pack and sort items for warehouse automation which significantly increases efficiency. 

AI helps to address several key challenges in the supply chain. It helps to analyse complex data in order to forecast future demand, as well as being deployed in supply chain planning and optimisation, including demand forecasting, inventory management, warehouse management and fleet management.

For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.

Follow us on LinkedIn and Twitter.

Share

Featured Articles

EY: GenAI in supply chain 'hampered by roadblocks'

EY Principal of Supply Chain & Operations Sumit Dutta says GenAI use cases show promise but that adoption is hampered by skills shortage and legacy

Sustainability LIVE Net Zero to Focus on Scope 3 Insights

Sustainability LIVE Net Zero event being held in London from March 6-7 offers insight, advice and discussions around supply chain sustainability

SAP: US, UK & India elections 'will impact supply chain'

SAP Business Network SVP Tony Harris warns business leaders to prepare for more supply chain disruption following key elections in US, UK and India

Appian & Xebia to share AI-driven S&OP Insights

Technology

COMING SOON: Top 100 Women in Supply Chain 2024

Sustainability

Supply Chain Optimisation 'Stymied by Data Silos'

Digital Supply Chain