Digital logistics recognizes the growing convergence of logistics operation and technology strategy. A new generation of web-based enterprise logistics applications that enable collaboration and optimization is driving digital logistics. It provides visibility throughout the enterprise and the extended supply chain. These innovations may have the greatest impact on logistics and the supply chain. More and more organizations are adopting a digital approach. Logistics is an area where this digital path can integrate the functions seamlessly covering the entire spectrum of logistics operations. This article discusses some key technologies that most organizations can implement for digital logistics. Technology builds upon itself, allowing for innovative approaches as technology evolves.
Table of Contents
Internet-of-Things (IoT) Technology
The Internet-of-Things (IoT) is often referred to as telematics in logistics and it operates on three levels connected hardware infrastructure which facilitates data exchange and processing and the software tier. IoT is a new technology that allows companies to track and monitor goods in real-time. The key benefits are real-time information about a shipment’s physical condition and opportunities for optimization. Companies can monitor goods with IoT solutions in real-time and ensure they arrive at the right time and place. The logistics industry is interwoven with both historical and real-time data. The exponential growth in IoT computing power has enabled data processing to be relocated closer to the edge of a network. Data has to be captured, analysed, and acted upon, with the availability of cloud-managed services.
IoT can be linked with Robotic Process Automation (RPA) to eliminate manual inventory processes. The data from IoT networks can reveal patterns over time, which aid in predictive analysis, contingency planning, and optimization of transit speed, cost, and security.
Cloud Computing Technology
The current economic climate is driving the demand for a more efficient model of delivering applications and computing services. Business requires technology platforms that enable them to visualize a product at every stage of its lifecycle, from raw materials to delivery to the end customers, in real-time.
The logistics process has been transformed by technology, as has the way consumers can demand products. Cloud-based platforms from new business logistics standards are increasingly allowing staff access from anywhere and at any time on any device. It is possible to meet demand even when services are required around the clock.
Cloud computing technology can transform supply chains into dynamic demand-supply networks. Instead of a manually-driven supply chain, use Software as a Service (SaaS) solutions to transform it into an automated dynamic network that provides visibility, control, and collaboration across trading partners.
Blockchain Technology
Blockchain technology can create transparency of all transactions in logistics operations across the supply chain, which will ultimately increase the efficiency, agility, and innovation of logistics operations. Blockchain technology records transactions tracks assets and creates a transparent and efficient system for managing all documents involved in the logistics process. It can also track all of the intermediaries who have handled transformed, and transported it.
For food security, blockchain will greatly improve the traceability of food products along the entire production and logistics chain allowing authorities to react much more quickly and efficiently in cases of large-scale food contamination.
Blockchain is the backbone of supply chain digitization, providing distinct advantages over current supply chain IT infrastructure and analytics capabilities. Because it is not dependent on adjacent or legacy systems, it can be implemented quickly. Once data is recorded in a block, it cannot be changed, making cyber-attacks extremely difficult.
A shared database reduces administrative work, lowering transaction costs and increasing efficiency. The vast amount of available, consistent data serves as a strong foundation for advanced analytics such as machine learning-based forecasting.
Big Data Analytics Technology
Blockchain is the backbone of supply chain digitization, providing distinct advantages over current supply chain IT infrastructure and analytics capabilities. Because it is not dependent on adjacent or legacy systems, it can be implemented quickly. Once data is recorded in a block, it cannot be changed, making cyber-attacks extremely difficult.
A shared database reduces administrative work, lowering transaction costs and increasing efficiency. The vast amount of available, consistent data serves as a strong foundation for advanced analytics such as machine learning-based forecasting.
Big data can help companies track the delivery of goods and supplies. Big data integration and analysis provide a degree of visibility and transparency that were partially demonstrable in the past. The company is working with its customers to create a big data management platform.
Big data analytics for logistics can be used to optimize routing, streamline factory functions, and give transparency to the entire supply chain. Possible sources for big data include enterprise data from operational systems, traffic and weather data, and vehicle diagnostics, driving patterns, and location information.
Shippers need freight analytics to reduce monthly spend on freight and improve productivity. Freight analytics refers to a set of algorithms that comb through the mountain of freight data to unlock its potential. Increasing population and growing adoption of connected and smart technologies in transportation infrastructure are expected to drive the overall growth of the transportation analytics market.
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References
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