Logistics may not be changing at an aggressive pace, but it is no doubt embracing new technologies coming its way. Below are just some of the advancements in technology that the sector has started to incorporate to give its stakeholders and end users a productivity boost:
Drones and robots
The Internet of things (IoT) has long been a fixture in most smart homes across the world. It is now finding its place in the logistics segment as well. Thanks to the IoT, the supply chain has been substantially optimized, notes a logistics consulting company.
Early adopters of this include some warehouses in China, which has employed drones, robots, and vehicles in their warehouses. The ultra-tech savvy of the lot, meanwhile, has also set up unmanned warehouses that heavily depend on IoT.
The augmented reality market is predicted to grow by $120 billion in 2020, according to a report by GlobalTrade magazine. Still in its nascent state in the logistics field, augmented reality can streamline supply chain management by making it easy for staff to sort out inventory, pick-up, and delivery.
The magazine states that AR systems or apps can help staff “accurately locate” items in their warehouses, by allowing them to find shelf spaces within the warehouse, items everyone possesses access to the digital ledger and barcodes.
Those who know how to use bitcoins are already familiar with blockchain technologies. Blockchain technologies could also do wonders for the segment because it democratizes the monitoring process, thus increasing transparency between customer and service provider.
Blockchain technology is essentially the maintenance of a universal ledger where everyone involved, the stakeholders, own it. While everyone possesses access to the digital ledger, all should approve making changes to it. This makes it very secure to use.