Categories: Business & Finance

Logistics: An Increasingly Innovative and Efficient Sector

To better manage the supply chain means making your company increasingly competitive and able to meet the challenges of ever-changing markets. Various strategies can be adopted to optimize and smooth processes, cut down time and costs, reduce errors, and increase customer confidence, among which the integration of logistics operations with innovative technologies stands out.

In order to identify the most useful technologies and increase the efficiency of logistics and supply chain operations, it is necessary to carefully assess the critical issues present and establish the goals to be achieved. After that is done, one can begin to look around, evaluate all available options, and define a strategic development plan.

A key role in increasing the benefits of innovation even more is that of technology collaborations, which can be laced with specialized platforms, suppliers or other players in the supply chain. An example of this type of collaboration is provided to us by Prysmian, a leading company in the energy and telecommunications cable industry. This one, in order to improve efficiency and transparency of the supply phase of its supply chain, has entered into an agreement with project44, an AI-based platform, for digital monitoring of shipping related to its shipments.

Below we will go over the main innovations that can help increase logistics efficiency and what benefits they can bring.

Cutting-edge technologies revolutionizing the logistics industry

There are indeed many innovative technologies that can benefit logistics processes, and their number tends to grow year by year. One of the best known is artificial intelligence, associated with machine learning.
Useful for optimizing warehouses, managing demand, making forecasts and various other functions, it does not limit its role to logistics operations alone, but extends to numerous other areas.

Taking the case of local businesses as an example, the use of AI-based tools succeeds in transforming the entire shopping experience. Thus, this enables not only the anticipation of customer needs and demands – an aspect of optimizing orders and inventory management – but also the delivery of personalized experiences and improved marketing activities.

Another technology that has experienced great growth in recent years and can be successfully integrated into logistics operations is the Internet of Things, known as IoT, which offers cutting-edge solutions for monitoring and tracking goods.

Also not to be forgotten are the important roles played by digitization – which, in addition to enabling the dematerialization of transport documents, helps increase supply chain transparency – and robotics.

Further innovations that may change logistics

To those listed above, it is possible to add numerous other technologies, all of which are perfect for making logistics more efficient and innovative. In particular, worth mentioning are:

  • the blockchain;
  • the WMS (Warehouse Management Systems);
  • collaborative platforms.

Finally, also worth mentioning are drones, smart glasses and 3D printers, all ideal tools for propelling logistics management into the future.

Impact of technological innovations

The integration of innovative solutions into logistics processes can bring great benefits to any type of company, from multinationals to SMEs, via small local businesses and large industries.

Although these may vary depending on the context, the characteristics of the business and the choices made, in all cases there is an improvement in the level of efficiency of operations, which allows for:

  • a reduction in the time required to complete operations, including those related to delivery;
  • a better management of each stage of the process;
  • a reduction in costs, closely linked to logistics optimization;
  • the ability to automate repetitive tasks, allowing workers to focus on those activities that require more human effort and intervention;
  • a higher level of accuracy, which translates into reduced errors and lower risk of damage;
  • a better relationship with customers, who can count on better and more efficient services.

All this leads to an improved corporate image and growth in its competitiveness.

Economic consequences and increased customer confidence

Innovations and technological collaborations are capable of totally transforming the face of logistics, making all processes smoother and more efficient and guaranteeing an excellent return on image for the realities that know how to take advantage of them. Greater efficiency translates into competitive and economic advantages, and into increased customer confidence.

Of course, in order to achieve the desired results, it is essential to precede the integration of innovative solutions and new collaborations with a careful analysis of the health of logistics and the identification of strengths and critical points.

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