A shift in technology in the logistics industry is now apparent, with automation being the center of all these changes. The growth of the logistics industry is now based on the automotive machines working on artificial intelligence algorithms. Logistics will therefore witness technological changes in the future that will improve efficiency, lower the costs and also increase the competitiveness of the companies that will adopt the new technologies.
The growth of the logistics industry is dependent on future technology. However, these changes can be witnessed in the current setting where Amazon has set the trend. The organization has introduced automated technology by using drones to deliver its products. This is a new trend that has become popular, and it is continuously being developed and refined to become more practical (Zijm & Klumpp, 2017). This automation process will soon be witnessed in the shipping and cargo sector. Regardless, these automated fleets seem to be the future technologies in logistics. The growth in technology with regards to automation will lead to improved efficacy in the whole industry. With the growing efficiency, competition will definitely grow, and this will call for excellence.
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The automated cargo ships promise cost-efficiency and timely deliveries. By automating the shipping and docking approaches, the manual labour being used in this industry's current setup will be substituted immediately. Besides, the advanced technology implies that many organizations will implement truck platooning effectively. Approximately, truck platooning is poised to lower the costs by more than 20% (Zijm & Klumpp, 2017). Investment companies should consider using this technology to remain competitive in a potentially revolutionary industry.
3D printing has a broad scope, and its expansion is quite exponential. The mean growth of the 3D printing market was 35.2% annually worldwide (Kumar & Muthuvelayutham, 2018). Consequently, market analysts affirm that investment companies should consider using this process because it will determine the products' supply and reception. There are multiple positive effects guaranteed by 3D printing in the logistics sector. Primarily, this technology is poised to change the whole design used in a warehouse. The evolution of 3D will mean that manufacturers will opt for an alternative of printing-on-demand. In turn, this will have a significant reduction effect on walking around with the inventory and eliminate the expenses involved in transportation and warehousing. Indeed, this an insight to investment companies to remain competitive in the future. Additionally, with 3D printing technology, companies will print sophisticated elements rather than having their manufacturing procedures executed at the companies' assembly points. The requirement for massive production will be reduced significantly. Expenses and time taken in the manufacturing process will be reduced because manual labour will not be involved. Incorporating data in the logistics industry from the IoT will further enhance the in-transit visibility of products. Third-party logistics are currently in place to provide these deliveries (Gutelius & Theodore, 2019). The 3PL approach offers services ranging from providing some facilities or handling the whole supply chain model. Tracking transit goods is a challenge in this sector. The potential introduction of IoT in the future will minimize or eliminate the physical containments completely by implementing the active or passive RFIDs. This technology will ensure that information on the goods in transit is conveyed when required. Various organizations are implementing this technology in their firms to enhance their operations.
The logistics industry will also experience the use of GPS in the form of connected fleet management. The tracking technologies will be used for data recording. Commercial vehicles in the United States have already started implementing this technology. These technologies will be necessary for any company that wants to be competitive in the market.
References
Gutelius, B., & Theodore, N. (2019). The future of warehouse work: technological change in the US logistics industry. UC Berkeley Labor Center.
Kumar, V. V., & Muthuvelayutham, C. (2018). Review of Literature on the Study of Information and Communication Technology in Logistics Industry. Asian Journal of Research in Business Economics and Management, 8(1), 48-73.
Zijm, H., & Klumpp, M. (2017). Future Logistics: What to expect, how to adapt. Dynamics in logistics, 365-379.
