Changing The Future Of Logistics

The evolution of technology is pushing the boundaries and changing how the world does business. Improved technology has also increased productivity in the supply chain, minimizing costs and errors.

INCREASING TECHNOLOGY INNOVATIONS ARE making big waves across industries, and logistics and the supply chain may be one of the most impacted sectors. Notorious for its heavy use of manual processes and large amounts of data stored in different ways and in different places, the logistics industry has perhaps the most to gain from implementing new technologies and following the most innovative Supply Chain and Logistics technology trends.

The advancement of technology over the last decade has altered the course of all enterprises. Many industry sectors underwent significant shifts. The operations, which previously took two hours to accomplish, are now finished in half of the time. Not only has production improved dramatically, but so has product reliability and servicing speed. Enhanced technologies have increased supply chain productivity. When all of these elements are considered together, the result is a reduction in production costs and an increase in efficiency, shares Arshdeep Singh Mundi, MD of Jujhar Group.

He adds, According to different sources, the growth of the market in the logistics industry, which is now valued at $250 billion, is expected to drive India's logistics sector to develop at a CAGR of 10-12 per cent. The transportation and logistics industry, like many other industries, has seen significant technological breakthroughs in the recent decade. These developments assist the whole logistics business, including trucking transportation, manufacturing, multimodal shipping, supply chain management, and cargo monitoring.

Recent years have seen massive advancements in the logistics industry in areas like artificial and augmented intelligence, advanced analytics, and automation, to name just a few. These technologies have evolved faster than ever while startups with even newer solutions and innovations continue popping up at a rapid rate.