By and large, COVID-19 pandemic has caused direct or indirect changes in every industry, and the logistics industry is no different. The unprecedented impact of COVID-19 and the subsequent need for social distancing have accelerated the pace of digitalization in the logistics sector, which has, hitherto, been considered a slow adopter of modern technology.
At present, AI is playing a crucial role in shaping the functional dynamics of the logistics industry. The integration of AI with conventional operational processes is leading to greater supply chain transparency. Similarly, the introduction of automated processes through AI and machine learning is boosting the speed of warehousing activities and offering greater control over warehousing management systems. These changes brought about by the emergence of AI will eventually to improve business perspective and enhance consumer engagement. Additionally, IoT is also gaining momentum in the logistics sector. IoT can provide businesses with a credible tracking interface enabling them to monitor the movement of their goods from the warehouse to the final destination. On that front, advances in asset tracking technologies coupled with IoT-enabled solutions are set to revamp the functional paradigms of the logistics industry completely.
Another critical technological trend is the increasing adoption of Radio Frequency Identification (RFID) technology. On-location data can be shared by RFID tags through a secure cloud connection, enabling the tracking of freight in a real-time milieu. Besides, augmenting inventory accuracy levels and enhancing inventory tracking mechanisms in warehouses can be accomplished through the deployment of RFID technology, offering substantial cost optimization of the process.
It is now time for players across the logistics ecosystem to make the most of this paradigm shift and collaborate effectively to use latest digital tools and technology for reducing inefficiencies and optimizing delivery at every level of the logistics supply chain. To help the logistics businesses strengthen their operational capabilities and simultaneously enable growth in the industry, Logistics Tech Outlook has compiled a list of the top logistics tech providers. The list comprises prominent startups in the industry that address issues pertinent to the logistics sector by implementing current trends. Besides, the magazine also includes insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Logistics Tech Outlook’s, “Top 10 Logistics Tech Startups – 2020.”
