Buzzwords such as Blockchain, Big Data and Internet of Things (IoT) are now an integral part of the technology adoption plans of most players in the logistics industry. With disruptive technology, the possibilities are endless. Imagine a next-generation logistics technology-enabled value chain in action. Declarations, if not documents, may still be required and critical documents will be issued using the Blockchain technology. When the driverless trucks would arrive at a shipper’s warehouse; smart tags can be placed on packages so that using the Internet of Things (IoT), devices can make the packages talk over a 7G network. With IoT, enterprises can connect all devices across a centralized cloud network, and capture and share their mission-critical data, allowing them to gain real-time visibility of their operations, and thereby accelerate productivity, profitability and operations. And, Big Data can be used to optimize routing, to streamline functions, and to give transparency to the entire supply chain, for the benefit of all stakeholders alike.
Wireless technology systems offer significant opportunities for minimising costs, eliminating manual processes and bettering compliance within the supply chain arena. Wireless technology also helps in eliminating many of the paper-based processes that slow down communications and add cost.
Blockchain technology can increase the efficiency and transparency of supply chains and positively impact everything from warehousing to delivery to payment. Such systems and networks offer precise record keeping and verification of transactions. Blockchain can bring in the necessary process efficiency and enable data transparency and access among relevant supply chain stakeholders, creating a single source of truth. The Digital Trade Corridor developed by Kale Logistics between India and Netherlands is powered by Blockchain technology.
The Internet of Things (IoT) is revolutionizing the logistics industry. By connecting nearly everything from cargo to people, the IoT is enabling logistics companies to track and trace freight in real time, make data-driven decisions that improve operational efficiency, perform predictive maintenance on assets and infrastructure, and much more.
With millions of packages moving across the globe passing through various touch-points of complex networks and multiple stakeholders. This creates a multitude of data points and enormous potential to improve both delivery times and cost and to achieve greater visibility across the network. With the spread of sensors and mobile devices, not only can a customer get Uber-type tracking for their consignments. Data on congestion, strikes, weather conditions, etc. would enable carriers to provide accurate and predictive assessments of potential delays and disruptions to customers and adjust routes and capacity accordingly.
Artificial Intelligence (AI) possesses the potential to benefit all industries, and most definitely the logistics industry, moving from consumers to enterprises to industries in terms of adoption. Slowly but surely, AI is fast finding its way to the core of every future-ready software system and logistics technology systems will prove to be no exception. In the near future, AI will likely substantially transform the end-to-end logistics value chain.
Discovering new patterns in supply chain data has the potential to revolutionize any business. Machine learning algorithms are finding these new patterns in Logistics data daily, without needing manual intervention or the definition of taxonomy to guide the analysis. Reducing freight costs, improving supplier delivery performance, and minimizing supplier risk are three of the many benefits Machine Learning is providing in collaborative networks. Kale’s knowledge-based managed services actively leverage Machine Learning to provide EDI services from legacy documents.
The journey forward for the logistics industry, will likely be an amalgamation of Trade Facilitation and Digitalisation with paperless logistics setting the stage for the next growth trajectory. As always, technology has been and will continue to be an enabler in this process.
To explore the possibilities of Kale’s logistics technology solutions for your business, please reach out to us at firstname.lastname@example.org.