2020 is here and now it’s more appropriate than ever to study up on the most popular trends to prepare for possible new challenges within the new year. We are currently in a highly transformative era in which experts are dubbing, “The 4th Industrial Revolution”. Technology is advancing in an exponential rate and businesses are shifting priorities to keep up with the competition and the ever changing landscape of this industry. In this post, we will explore the top 3 logistic trends for 2020.
#1 Sustainability and Visibility
More and more logistics companies are integrating sustainability efforts into their overall strategy. Climate change has become a popular public concern, and everyone wants to do their part especially since the logistics industry plays a large part in greenhouse gas contributions right next to energy/power plants. The idea of “going green” has embedded not only the minds of consumers, but political, economic, and financial leaders as well. While green logistics is ideal, it is not an easy feat. Not everyone has the resources to become net zero carbon which is why visibility and sustainability go together in this trend. Logistics companies are providing more visibility in their operations so everyone—inside the company, and out—has access to information that would reveal issues that may otherwise remain hidden. Things like empty miles, dwell time, trackability, etc.
#2 Utilization of Advanced Technology
Technology has been advancing at an exponential rate. We already have drones and self-driving semitrucks making deliveries. Soon, everything that we can automate and digitalize will be automated and digitalized. Robots are becoming more intelligent. Not only can they perform simple tasks, but they now have the capabilities to learn, recognize patterns, make decisions, and adapting independently. The developments on artificial intelligence (AI) are particularly important in the logistics industry because eventually, it’ll become and important tool for efficiency. It will be no surprise to us when AI dramatically influences the transport industry and change the traditional processes of freight forwarding.
Related articles: Advancement in Logistics: Technology vs Humans
#3 Managing Customer Expectations and Partnerships
With the implementation of advanced technology, many companies will be looking for ways to minimize freight costs while still being efficient in their operations. In 2020, companies will be seeking out effective partnerships that can help reduce costs, minimize risks associated with shipping cargo, decrease delays in delivery, and enhance customer value and satisfaction. Customer expectations will be shifting due to the advancement of technology. Not only will customers become data-enabled but they will also be wanting to associate themselves with a business that aligns with their individual ideals. Catch-all solutions will be obsolete, and companies would have to rely on transparency and technology to give them that competitive edge.
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