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With the Fourth Industrial Revolution picking pace, digital evolution in the logistics industry is long-awaited. Customer expectations have increased and efficient product delivery is still stumbling due to various reasons, such as the pandemic, low adoption of technology, etc.
The number of online buyers is also rising as the pandemic has made us more inclined to the feasible online world. We can streamline supply chain operations in the logistics industry by using the following state-of-art technologies.
Challenges Faced By The Logistics Industry
In the logistics industry, we need to continuously monitor the supply chain, accelerate it, reduce costs, and improve information delivery at every stage. However, there are always some challenges stopping the logistics industry from achieving excellence. Here are some of these challenges,
- There’s a gap in the flow of information. Either the ERP implementation is incorrect or the company doesn’t have a proper ERP for comprehensive data monitoring. This means status reports are incomplete, which impacts account payables and receivables. As a result, both vendor and customer payments become overdue, causing havoc in finances.
- We can’t deny the fact that the logistics business survives in a competitive landscape. Therefore, many organizations face disruptions in working because they are not able to streamline processes in the supply chain. Without process improvements or benchmarking, it is hard to receive operational efficiency.
- Since supply chain data is not available on-demand or there’s a lack of accurate data, consumer services suffer. Your representatives are unable to answer user queries because they don’t have the data for the same, which impacts customer satisfaction ultimately.
The Role Of Technology In Transforming The Logistics Industry
Correct usage of technology can help us reshape the logistics industry. Multiple tech advancements, such as RPA, artificial intelligence, IoT, etc. allow supply chains to function smoothly and operate without disruption. You only need the right consulting support from AIMDek to implement the following without any hassle.
Artificial intelligence is everywhere. If you look around, you will find the presence of AI in shopping websites, home agents, virtual assistants, and everywhere else. This technology allows automation of several tasks, and you can extract quality data to offer a seamless consumer experience.
In the logistics industry, it is obvious that AI-powered supply chains are better equipped to automate processes, improve data distribution, and allow easy customer query resolution. In fact, with AI, we can predict inventory requirements and optimize inventory management for higher efficiency.
Robotic Process Automation
Robotic Process Automation is using automation technology in various areas of the business. This technology particularly automates repetitive and manual activities, such as billing updates, accounting calculations, data entry, etc.
For example, from the time an order is placed to the time it is delivered, RPA helps track transactions and the entire supply chain to ensure that the ERP has the correct data.
Further, RPA can be used to ensure flawless customer service. Before sending inbound queries to customer service executives, RPA can respond to some simpler questions, such as where is my order, when will I get my parcel, when will you dispatch my parcel, etc.
If the situation requires human attention, then queries are forwarded to customer services. Not only does this reduce customer service’s load but also offers on-time and quick answers to customers.
Even a decade back it was hard to imagine that we would turn on the lights or fans by just telling our smart devices that we want to achieve an action. IoT (and Artificial Intelligence) is the technology behind this connection.
In supply chains too, we can use IoT sensors to track shipments and minimize risks. Right now, the in-transit visibility of our packages is low. In the future, IoT can become an instigator of change by allowing transparency in transit and till the delivery.
Drones for Last-Mile Delivery
The last-mile delivery is not only the most crucial phase of logistics but also is the most expensive. Many companies are looking to reduce the time spent on this phase in an affordable manner. As a result, drones are becoming popular as last-mile delivery agents.
Companies like Amazon and FedEx are already using this technology to deliver products to users quickly. Many more logistics enterprises will join the trend in the coming years.
In this technology-driven era, we can mitigate most of the glitches in the logistics businesses and processing with innovative solutions. You only need the right support for the implementation, maintenance, and deployment of the solution.
AIMDek Technologies is the partner you are looking for!
For more than 6 years now, AIMDek has served multiple customers across different domains. One of our major operating domains is the logistics industry. Whether you need IoT advancement or RPA consultancy, you can connect with our experts and receive support for implementation.