The port and logistics sector has traditionally been a slow adopter of technology compared to other industries such as financial services, yet in recent years there has been an explosion of innovative technological developments in the sector centred on Industry 4.0.
In this industrial age, organisations who are better at exploiting technologies and information are able to gain an edge and competitive advantage over those who are slow to adopt and realise these technologies. Leading organisations who embrace technology and innovation often earn themselves a first-mover advantage.
This article examines four key emerging technologies that are revolutionising the Port-Logistics Sector.
Internet of Things in the Port-Logistics Sector
The Internet of Things (IoT) refers to the network of physical objects or “things” accessible via the internet. These objects have built-in technology that are able to interact with internal conditions or external environment. IoT is composed of sensors and end devices that carry out certain activities connected to the data network over which they communicate and systems for storing and processing data. Each thing is uniquely identifiable.