Current Trends in Logistics and Supply Chain Management

Are you engaged in the logistic industry? Well, you must have noticed how digitization has made an advancement in this field. The application of cutting-edge technology has made easy storage of a huge volume of data in a completely hassle-free manner. You can see its effect on logistics and supply chain management as a massive application of advanced technologies is done here too. Here you must be interested to know the recent trends in Logistics and Supply Chain Management. 

• You will notice the massive use of artificial intelligence in the logistic industry. This technology is widely being used in different aspects of supply chain management such as route planning, demand planning, delivery of goods, etc. So, by implementing artificial intelligence, you will notice a radical simplification in work. 
• Another trend that is found highly beneficial in logistic companies is digital twins. You can use this technology to collect data for both relating to products and packaging. You can make use of digital twins in a warehouse for the implementation of a better system.
• Customers in recent days always want to get real-time data. Hence, every owner of a logistic company should implement real-time data along with supply chain visibility. Data will include details namely traffic patterns, weather reports, conditions of road and port, etc. 
• In 2020 logistic companies are using new data standards that will help a lot in arranging data properly.  Recently you can notice a huge use of Applications & Softwares for businesses such as robotics and automation in the logistic industry. Robotics helps in speed-up the tasks of loading and unloading goods. Drones are a great example of an application of robotics in this industry. 
• Presently, logistic companies are also paying attention to sustainability. Like other industries, logistics is also using technologies that will make less impact on the environment. As a result, you can notice immense use of cargo vehicle runs on electricity, etc. 

Logistics companies which are having fully integrated supply chains reported witnessing 20% more efficiency when compared to those without any integration. So, what’s your take on the topic? Do you wish to welcome the latest trend in logistics and supply chain or will prefer to go with the old? Well, if you are looking for suggestions from experts to decide if the implementation of the trends will be useful for your business or not.