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Emerging Technologies & the Future of Logistics and Supply Chain Industry

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Supply Chain Industry Today

Are you aware that the logistics industry is going through a rapid transformation? Technology and innovation specifically Artificial intelligence (AI), Neural networks and machine learningare playing a major role in the constant development and transformation of thelogistics and supply chain management. This rapid development is a result of the age-old race to provide faster, cheaper, reliable and sustainable delivery services as the world is becoming flat. Thus, it can be a perfect time for you to make a career in Supply Chain Management. If you want to kick start your career in Logistics Management, then you can join Tech Mahindra SMART Academy, Visakhapatnam.

You must know that the Logistics and Supply Chain industry is quite different from what it was 10 years ago as it is constantly going towards automation in multi-dimensions.If a career in the Logistics and Supply Chain industry draws your attention, then it is always better to be aware of the trends in management and technologies. Here, we are going to talk about recent developments in the technological fields of Logistics and Supply Chain management.

In recent times, the technologies that had paramount importance in shaping the logistics and supply chain industry are AI, Machine learning, Blockchain, Analytics, RFID, the Internet of Things, Drone Delivery, and more. These technologies have altered traditional ways of working.

Logistics and Supply Chain Industry – Emerging Technologies

Let us check out the trending technologies that create disruption and makes firms to rethink their logistics and supply chain system. It is important for you to understand the latest developments in the Logistics and Supply Chain Management if you want to make a career in it.

The Internet of Things (IoT)–This is the technology that connects devices without much human intervention. It is expected that in future, IoT will increase the connectivity speed and reduce the overall costs by providing access to real-time visibility of operations.

With the ability to securely monitor equipment and environment, experts can take actions before the problem arises. The advancement in the field of the Internet of Things is dramatically making progress in the operation of supply chain management and logistics.

Driverless Vehicles –It can be agreed upon that driverless electric vehicles are the brainchild of Google and people believe that the future belongs to self-driving cars. Without any human input, a driverless-vehicle will be able to navigate itself with the help of the equipped navigational hardware and software. With the introduction of these driverless vehicles, it is expected that there will be a huge reduction in the costs of logistics.

Drone Delivery –This is the latest trend that has caught a lot of attention and is changing the logistics and supply chain industry. It was first used by Amazon. However, the idea of drone delivery is new and many firms are still sceptical about its usage.

As per a survey conducted by Eye For Transport (EFT), quite a few believe that chances of drone delivery as reality are very slim and it will occur only in highly specialized areas. Only 36 percent of respondents believes that in the next 5 to 10 days, there will be some form of drone delivery such as delivering drugs to remote locations.

3D Printing –For many years the idea of 3D printing is in the development phase. Through this technology, manufacturers, individuals and businesses are able to print the exact replicas of parts and products using various metals and plastic.

3D printing is considered to be one of the well-simplified and highly responsive. With this technology, it is expected that in the future of supply chain business, the customer will place the order first, and then a local 3D printing shop will produce the finished product and make the delivery (often by drones).

Future of Logistics and Supply Chain Industry

The transformation of an industry depends upon two major factors – capabilities and environment. Regarding digitalisation, capabilities are required to be built within the organisation under the guidance of specialists. While for the environment, there is a requirement for the implementation of a two-speed architecture i.e. organization and IT (as established landscape), and an innovative environment with a start-up culture. Today, technologies, trends and customer expectations have changed the game along with the conventional mode of operations.

Also, with the continuous growth of ruralareas worldwide and shifting of wealth into regions, the logistics and supply chain firms have to reach places that have not been served before. Apart from the above, the changing regulations due to carbon emissions, regulation of traffic for socioeconomic region add ups to the challenges that the Logistics and Supply Chain Industry is facing. Thus, to cope up with the changing trends and requirements, the industry needs to become faster, precise and granular.

If you’ve made up your mind for a career in supply chain management, then click on the links provided above and apply for the course at Tech Mahindra SMART Academy, Vizag.

We wish you all the best for your future. Do like, share and comment, and let your friends know about the future and career opportunities in Logistics and Supply Chain Management.