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To remain competitive and improve efficiency, it is imperative to keep up with the latest technology in logistics. Technology benefits the logistics industry by increasing productivity in the supply chain and reducing costs and errors. All areas of the logistics industries like transportation, international transportation (ocean and air), supply chain management, and shipment tracking are benefitted by using technology.

With technology businesses can exchange sensitive information privately without fearing that their company or customer data could be stolen. Meanwhile, dedicated software and AI provide short data processing times and can carry out tasks previously performed by workers, thus speeding up logistics processes and racing costs. Processes that required hours of days of human labour now take just a couple of minutes.

With the constantly growing demand for products and fading geographical boundaries comes an increased need for freight forwarding. Logistics technology removes geographical barriers and allows companies to rapidly scale their supply chain processes. Last but not least, businesses can quickly gather shipment, customer, and internal data for analysis and reporting purposes.

Some of the technologies transforming the logistics industry are:

Blockchain Technology

Blockchain has many advantages in the logistics industry. Blockchain has also increased in popularity within the industry in the last few years. Ensuring operational safety and transparency with its ability to record and encrypt large amounts of valuable information, this digital transaction ledger system continues to safe keep logistics operations.

It enables companies to increase efficiency by making the process automated, reducing paperwork, and enhancing transparency and traceability of inventories. The supply chains are more secure as all the data gets shared from leaving the manufacturing site till reaching the end-user.

A smart contract is one application of blockchain in the logistics sector. Smart contracts let distribution firms reduce red tape, automate the entire procurement process, and remove human error. A blockchain-based system also saves companies money and time, as it eliminates manual paperwork. This makes the coordination of documents easier.

Internet of Things

The IoT is a network in which physical objects are embedded with microchips, sensors, software and other tracking technologies which allows them to communicate with the network of devices. The logistics industry has been using IoT devices where it can collect data, reduce unnecessary workloads and make the process smooth.

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.

IoT technology has numerous applications specific to transportation and logistics companies that include: end-to-end product tracking, vehicle monitoring, dynamic route planning, quality control, temperature, pressure, and humidity monitoring etc.

As supply chains grow in size and data complexity, IoT enables the growth of “touchless” systems that streamline and simplify processes. Besides increasing efficiency, IoT technology can lower costs, boost productivity, and reduce delivery times.

Artificial Intelligence Systems

The primary objective of Artificial Intelligence (AI) is to imitate human intelligence-related activities like thinking, learning, planning, problem-solving, knowledge representation, perception, mobility, and so on. There is no doubting that AI is revolutionizing every sector of the economy, and logistics, where innovations are constantly being made, is no exception.

Artificial Intelligence for Logistics may be applied at every stage of the supply chain, from product manufacturing through delivery to the final consumer. It aids in accelerating and streamlining several crucial procedures that rely on executing mechanical and repetitive actions. Improved predictive analysis allows logistics organizations to more effectively plan for emergencies, lowering the likelihood of accidents and other hazardous situations. Additionally, AI technologies may be helpful in avoiding unnecessary costs throughout the processes, arranging a safe and effective route, organizing on-time delivery, categorizing and identifying the items, and ensuring customer satisfaction.

Barcodes and RFID

Barcodes and RFID tags are commonly used in logistics environments for identifying, locating, monitoring and counting supply chain assets. Although companies most often use RFID tags and barcodes for individual product stock keeping units (SKUs), RFID and barcodes may also be beneficial for other types of asset tracking, including tracking of equipment, pallets and storage areas.

While RFID tags and barcodes are both useful in some scenarios, each technology is ideally suited to specific types of product and asset management. For example, RFID tags are useful for tracking the location of many products at once, since RFID allows for scanning of many products within a particular range with low effort. Meanwhile, barcodes are better suited for picking and packing because of the cost of RFID tags.

Automation

The logistics sector is embracing automation at every turn. It helps fast track order booking and package handling in warehouses. There are automated modes that enable transit and shipment, tracking materials as they move through the supply chain to deliver them on time. Operations are getting more efficient with this technology helping out.

Automation in logistics simply means streamlining the processes through the integration of technology and software. Automation in logistics can refer to both machines and software. Drones, robotic arms, and automated storage and retrieval systems (AS/RS) are common machines that support logistics operations.

Logistics process automation is crucial to enable operational efficiencies and meet the growing demands of customers. The benefits of automation are numerous and go beyond mere productivity metrics. Some of the advantages of making logistics systems automated includes: Faster and Accurate Processing of Documents, Real-Time Data Access, Better Customer Service, Improved Business Visibility, and Better Business Scalability.

GPS Tracking System

Managing logistics from point of origin to point of consumption includes a great number of complex steps. Each step includes a unique opportunity for inaccuracies, asset loss, and other variables that impact the performance, productivity, and bottom line.

A comprehensive logistics tracking system utilizing logistics GPS tracker devices is critical for a birds-eye-view of the entire process that provides deep knowledge and insight to alleviate pain points and eliminate slowdowns before they occur.

The advanced accuracy of GPS allows for increased productivity and satisfied customers, by tracking shipment or vehicle locations and providing an easy path through access to updated traffic data.