Major Innovation and Logistical Improvements in the Logistics Industry
When most people think about logistics and the logistics industry, they first think about resources.
The process of acquiring resources, transporting resources, receiving resources, and so on and so forth. However, logistics is so much more than that.
On the surface, logistics could be defined as such, but in doing so, we miss the minute changes to the industry that will become the milestones of tomorrow. Technology is changing fast, and soon it will change our industry as well, becoming commonplace.
The top two technological shifts that will result in major innovations and logistical improvements in our industry are the following:
- Big data
- Artificial intelligence (AI)
Big Data and Logistics
When it comes to making business decisions, there is a finite line between having too little information, and too much. Too little information robs us of the ability to make wise decisions, and too much information can rob us of the ability to make doubtless decisions. The more exact the information is, however, the higher the probability of success will be when acquiring, shipping, or receiving resources.
The biggest advantage that big data provides is internal. While many logistics companies perform research on their competition, too few look inwards with the intent to become more efficient. Big data, however, can be utilized to track worker performance, uncover minute issues in the resource acquisition process, optimize travel routes, and even be used to monitor employee health levels.
There is a seemingly-unlimited amount of data out there, and you can use it to your advantage. A leaner, meaner logistics company will have the advantage through harsh economic times, will be able to undercut their competition, and become more efficient in resource management and shipping.
The goal of any logistics company should be to trim the fat and take advantage of technological advancements in big data.
Artificial Intelligence and Logistics
The first thing most people think about concerning AI is robots and movies AI and Her. However, artificial intelligence is so much more than that, and it can greatly help your business.
AI used to be inaccessible to those who were not computer scientists, due to their lack of knowledge in the subject matter. Over the years, it has become much more accessible. AI can be learned online by almost anyone.
Research is a fundamental task of any company, let alone logistics companies. With business deals both nationally and internationally, there is much to learn with every new client regarding transport laws, policies, and trade agreements, legal precedent, and more. You need to thoroughly research new products and resources, as well as the client itself. Performing extensive research is a vital part of any logistical decision.
AI is a great tool to create extensive customer profiles, client profiles, increasingly efficient transport routes, and more. This is why logistics companies like DHL are using artificial intelligence to make their supply chains more efficient, and why you should as well.
Ignoring advancements in AI is dangerous for any business, but especially for the logistics industry which relies so heavily on efficiency and the need to cut costs to stay competitive.
How to Take Advantage of Technology in the Logistics Industry
The first step is to recognize just how dependent logistics has become on software. Whether online or offline, programs now dictate how we ship and process resources. Software as a service (SAAS) has become increasingly popular and affordable and many of the best SAAS applications use AI to learn and become more efficient.
The second step is to hire data scientists and software engineers specializing in artificial intelligence, machine learning, and embedded systems. Apply the power of AI and Big Data to your own company!
With these major innovations, we can ship resources cheaper, receive goods faster, and run a more efficient company overall.
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