Logistics encompasses more than just how things will be delivered to customers. It's a part of the retail and digital revolution. In eCommerce, logistics is equally important for sales optimisation and customer pleasure. From 2020 to 2027, the worldwide logistics industry is expected to grow at a CAGR of 6.5 percent, from $7,641.20 billion in 2017 to $12,975.64 billion in 2027 (source).
Unlike a physical store, internet stores typically service a vast number of customers from all over the world. As a result, supply chains in digital retail must be improved, and it is also a critical aspect in assuring a successful business operation. As a result, e-commerce companies are doubling down the efforts are being made to meet the growing demand across all sales channels throughout the world. The following are some. The following are some of the areas where technological advancements are having an impact on e-commerce logistics.
Automation and Artificial Intelligence
Various modern logistics solutions, such as warehousing, supply chain, and return management, are already using technology powered by automation and artificial intelligence. The value of artificial intelligence in logistics today is that it allows supply chains to be planned and predicted using AI and machine learning techniques. It is now possible to choose the most efficient routes for transferring a product to a new site. Simultaneously, AI-enabled automation eliminates the necessity for large-scale e-commerce enterprises and other businesses to manage everyday obligations.
The Internet of Things (IoT)
The 'Internet of Things' in logistics is not a new concept. The finest examples of IoT-enabled logistics automation that leverages geolocation data to facilitate product shipping tracking are GPS-based devices. Businesses can improve their logistics operations by using historical data analysis.
RFID tags, low-voltage networks, and satellite trackers are all examples of how the Internet of Things is used in logistics. All of these advantages of IoT in logistics enable data analysis, which is critical for any business. RFID tags are being used by several online retailers in their distribution centers and warehouses to track cargo containers.
GPS Accuracy Improvements
The days of supply chain firms printing out directions from the computer before leaving the warehouse are long gone. Almost everything may now be done with the use of GPS on their delivery vehicles or smartphones. The accuracy of these GPS devices in logistics has improved dramatically over time.
This technology not only assists drivers but also improves supply chain processes. By supporting increased GPS accuracy, delivery vehicle locations may be tracked and real-time traffic data can be accessed.
Real-time Analytics with Big Data
When it comes to e-commerce logistics, Big Data allows for real-time analytics. Manually managing vast amounts of supply chain data is always a difficult undertaking. Failure to pay attention might lead to blunders that harm your business procedures in the long run. Large amounts of data and their processing necessitate a more extensive examination, which is where Big Data comes in.
To mitigate these dangers, unique Big Data solutions for real-time data analytics were created. Such technology can aid in e-commerce logistics by providing insights into patterns and trends. This will also assist you in predicting a company's overall logistics and supply chain success.
Platforms for e-brokerage (Uber of Trucks)
Growth in e-commerce, combined with advancements in communication technology, has ushered in new freight and logistics solutions. Traditional freight brokers have been pushed to adapt their business model toward mobile-based, freight brokerage-type products as a result of the proliferation of digitalization in transportation. A seamless, on-the-go brokerage system, often known as the "uberization of transportation," requires mobile apps. To assist this transformation, mobile-based freight brokers have developed in-house software solutions by forming potential synergistic alliances conventional freight brokers, original equipment manufacturers, and telemetry providers.
Improved tracking of shipments (Barcodes)
While all of the advanced software and sensors will help us multiply our rate of growth, it is the barcodes that will truly make the delivery happen. As the warehouse business expands at a breakneck pace, barcodes have become more user-friendly in order to integrate faster in printing and increase overall economic viability. Barcode technology companies are now shifting their focus on developing complicated hierarchical, tamper-proof, and trackable bar codes. It will resolve the issue of bar codes that have been stolen or tampered with.
Smart Kargo associated with major airlines implements the above technologies that give e-commerce businesses the following benefits:
- Swift e-commerce delivery with Cloud technology
- Easy integration into the system
- 360° Transparency by enabling retailers and customers to track product movement and record shipment history
- Improved efficiency with real-time analytics
- Airspeed delivery at ground rates
- Lower capital investment
- Higher efficiency, lower costs, and next-day to 2-days delivery
- No stocking up of products
Technology plays a critical role in improving product delivery reliability and safety. Its natural byproducts include time efficiency, discipline, transparency, the safety of goods and crew, corporate success, and a competitive edge. Although digital technologies are the wave of the future, proactive adoption may be the key to turning the tide.
AUTHOR BIO:
Name: Aditi Sinha
Proactive Marketing Executive taking care of companies by increasing the level of their visibility in the market and helping them meet & communicate with their stakeholders more effectively.
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