Logistic and supply chain segments are witnessing massive metamorphoses during the post-pandemic period. While these sectors were formerly witnessing an upward graph over the last many decades with the changes in the being programs, preface of new rules and regulations, etc. the megahit of the epidemic acted as a catalyst in their further growth. With the intervention of ultramodern technologies like IoT, artificial intelligence, cloud computing, blockchain, etc. the entire logistic sector is seamlessly converted into a full-mound automation process, writes Sanket Sheth, Founder & Managing Director at Elixia Tech
As per Gartner report, Warehouses, factories, freight operators, and legions of employees across the globe are already calling on machine learning-driven analysis to unlock efficiencies. Gartner indicates that by 2023, around 50% of productcentric enterprises will have invested in real-time transportation visibility systems. By 2024, approximately 50% of all supply chain organizations have invest in some form of AI or advanced analytics platforms. COVID-19 has further expedited this trajectory, by prompting wide scale supply chain disruption around the world. The scenario now is most of the manufacturers and distributors want a digital assistance that can assist them to identify operational risks faster, and more accurately.
The current logistic system blended with the artificial revolution is using this ultramodern technology to enhance its connectivity with the merchandisers, real-time shadowing, last- afar delivery, automated shadowing process, etc. with perfection. Small and medium enterprises have also started using these technologies to expand their businesses across the globe. The companies are now sluggishly and steadily accepting the pace of change to survive in the briskly-growing frugality of the country. There are many ways in which technology has created a smash in the logistic sector during the pandemic below are a few mentioned:
Enhanced GPS Systems: Before, the motorists took printouts of the map to reach a particular destination and spend hours driving the vehicle. But with the involvement of technology, the motorists no longer carry maps rather they've started using GPS which is in- erected into their smartphones. The GPS helps the motorist by showing the easiest possible route having low or no traffic which eventually results in early delivery of the parcel at the asked position. The in- erected GPS device also helps the merchandisers to keep a valve of the motorists and their routes using the supply chain control tower. The SIM-card-based and mobile tracking systems have brought end-to-end visibility and control over vehicles in transit.
Paperless services: The arrival of technology and wide digitization has given way to paperless services, especially in creating operations for crucial documents similar as lorry bills (LR) and proof of delivery (POD). This end-to-end invoice management system will ease the process of generating an invoice, sharing them with the customers in real-time, verify and record the credit notes, advance transactions, and instant payment reminders. Automating these processes will have increased effectiveness and also bring the logistics assiduity a step closer to easing contactless logistics.
Real-Time Tracking: It enables better services to consumers by allowing them the capability to change delivery time or place at different stages of package delivery. This not just improves client satisfaction, but also saves the time and costs of delivery services providers. Having a real-time view of different package locales, delivery providers can prognosticate to a high degree of delicacy the viscosity of inventories at different locales and enable their line to acclimate delivery routes briskly to respond to the situation. This high position of translucency and data monitoring enables optimization of coffers to a high degree, thereby saving time and costs.
Artificial Intelligence (AI): Over the once many times, the logistics assiduity has started to integrate AI. algorithms grounded on former data combined with machine literacy will support companies to be visionary in dealing with demand oscillations. AI- grounded cognitive robotization technology brings intelligence to automate executive tasks reducing mortal error and will speed up information-ferocious operations. Shippers, carriers, suppliers, and consumers can all anticipate profit from this.
Last-Mile Delivery: If your company is into the online force and demand world, you know that the final step of the force-the road between the storehouse to your delivery position is one of the most hamstrung, filled with mortal crimes, and also the most precious step of the force chain. Last Mile delivery is devoted to the satisfaction of the guests. Drone delivery that will reduce the business traffic problems might be one of the only effects that need to be worked on since numerous countries won't accept it entirely but it has presently taken root in an Irish incipiency. It also includes the idea of smart lockers to avoid the return of packages; therefore, working two of the major time and cost- consuming factors of delivery.
While India’s logistic sector is perfecting with the fast-paced frugality it still has numerous hurdles that cheapen its global performance. But with the intervention of the slice – edge technology in the traditional styles during the epidemic has changed the face of the country’s logistic sector.