Logistics is one of the World’s largest Industry with sectors ranging from Warehousing, Transportation (Air, Sea and Land) and Delivery Services. Robotics and Artificial Intelligence have significantly changed the dynamic of this industry during recent times. As per the trade reports, the total revenue generated just in this industry in 2016 ranged to $1100 Billion in USA and $5 Trillion across the world. Over recent years, Technology and Digital Transformation have asked for change in the dynamic of Logistics Industry with more of a global presence.
The World’s population is fast growing and there has been an increase in the number of people accessing the global markets. The Digital / Smart Phones or Tablets usage in this new world is predicted to almost double by 2025.With growth in Emerging Markets, Digital Technology and E-commerce will require logistics providers to deliver to remote locations in a faster and trackable process. The shift of population base into the Urban Localities would also contribute to this digital transformation.
The e-commerce has empowered customers who can now source – procure -track products from any part of the world with just a smart phone. Price Comparison, Price matching too would add to this set. The Business to Consumer (B2C) is expected to rise to 36% in 2018. Uber is a best example of Digital Transformation into the Taxi / Limousine Business. The new expectation in the emerging marketing and customer base would call for more investment in these specific services such as Temperature Controlled Sensitive Goods and Personalized Logistics.
It is impossible to under estimate how much the Internet has changed the world. The ways we learn, play, interact and shop have all been drastically changed by online environments. One of the reasons that the Internet has expanded as rapidly as it has is because of the incredible development of e-commerce. Vast new opportunities for buying and selling appeared almost overnight. People now shop for everything from socks to trucks on the internet. In order to tap into this exploding market, businesses have shifted more and more of their efforts online.
Think of a major online retailer like Amazon.com that sells tens of thousands of different products but has no physical stores. Customers receive notices about sales through their email instead of their post office box. Shoppers can get more information about a product than a whole army of sales staff could offer. Amazon provides these services at a fraction of the operating cost most retailers face. The Internet of Things has been underpinned by recent advantages in cloud computing. Cheaper data storage. Cheaper Data Storage and increased computational power for Big Data streams can be collected, stored and analyzed more efficiently. This is enabling Logistics providers and customers to conduct real time analysis of supply chain data.
Logistix is a tool which is being developed to act as a complete shop for all needs in the Logistics Industry. This would act as a liaison with multiple systems in Warehousing, Transportation, Distribution Operations in any given company.
Warehousing Operations are having more significance in this emerging market with more of E-Commerce business. Similarly, Transportation Industry is more expanding with speed and feasibility to the rural locations. Cubing and Load Optimization is also emerging as a big need to reduce the growing freight costs.
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