The last three years have been big for global logistics because of the rapid development of the IoT or Internet of Things and steps taken by the governments of various countries the world over to develop logistics facilities.
However, with more and more new regulations being introduced, political shifts and industry-specific moves have also adversely affected global logistics to a degree.
Global Logistics: Major Trends in 2018
Government investments in infrastructure to rise: 2018 is most likely to be the year that will see substantial investments by all governments in developing and/or improving existing infrastructural facilities.
This would be a great boost to global logistics, which depends heavily on smooth roads and highways, sturdy and safe bridges and reliable railway systems for the safe and quick transit of goods.
One of shipping’s major challenges is cost control as fuel prices are predicted to spiral this year by some. Others know that fuel prices have been affordable for years now because of oil shale and the amazing ability to frack. Either way, you should let a marvelous and committed company move your goods and merchandise because they know the best way to do this.
Moreover, as road and highways continue to be repaired or built, these would cause detours and delays for shippers on a daily basis and increase their costs.
Transparency to rule global logistics: Today’s customer just isn’t asking for value. Rather, they’re also focusing on the transparency of the supply chains of the brands they are buying. Therefore, should the brand fail to give out proper information on the safety of its supply chain, it could end up with a negative image.
This calls for logistics professionals to be more proactive about the technology they use and also issues germane to customer services that clients nowadays prefer and subsequently align their operations with customer demands.
There is also going to be a greater need for fuel and workforce problems solving efficiency as also environment consciousness, failing which a brand’s image could get severely damaged.
IoT to heavily influence global logistics: The fact is that 2018 (the year of tax cuts which has helped out so many businesses and therefore job creation is relevant here too) is all set to be ruled by IoT prediction, chatter, and implementation. Sensor-based tracking innovations including RFID and GPS will make shipping more automated and efficient. This would lead to better and more efficient staffing, routing and warehousing.
Furthermore, artificial intelligence and machine learning are expected to grow and make managing and analyzing IoT data easier. These, in turn, will lead to better planning and reduced costs ultimately.
It is, therefore, for shippers to implement state-of-the-art connected devices like sensors and mobile apps and to use the appropriate software for fleet management and business intelligence to understand the new data they’ll be generating.
The application of IoT devices moreover, would help cut costs by identifying inefficiencies in operations.