Currently, traditional selling in supermarkets and physical stores decreases, so logistics management and activities should be changed, adapting to new conditions and trends. The industry will be invested in digital and technology innovation, accounting for $1.72T by 2025 if it wants to survive. Innovation in logistics supports the flexible process, automation, and maintenance logistics in the market through smart devices and machines, social and business tendencies, and technology upgrading. As some logistic companies are successful and exist until now, they enable to reduce costs and increase revenue by adopting Artificial Intelligence. There are several trends in innovation that logistic companies should take into account such as Hyper Automation, Elastic Logistics, and Green Logistics.
How does technological advancement impact innovation in logistics? In the technological era, every operation in life needs technology to adapt to a new environment and to catch new trends. Its power is covered by the effective level of development in all industries. Top technologies will be becoming a priority in logistics such as Data Analytics, IoT, Cloud Computing, Drones, etc. IoT solution helps companies improve transparency on real-time tracking, delivery, inventory management, storage conditions, and so on while cloud computing helps consolidate analytics which decentralizes data collection and accessibility and escalate based on market demand and situations. Furthermore, Artificial Intelligence (AI) and Machine Learning are good choices for applying them within the industry. According to a recent statistic, AI in logistics management assists to increase profit by 10% per year, it seems to be saved time and money in the future in market leaders’ opinions due to AI adoption. This positive effect is explained by the usage of AI in logistics, thanks to AI, companies enable to recognize the problems, have proper solutions then enhance operation functionality. Last but not least, Robotic Process Automation (RPA) is also adopted in logistics, it must support warehousing as well as offloading of inventory.
Upgrading technological advancement and considerable affordability bring humans precious value in operation and management. Innovation in logistics is indispensable for companies to survive in the huge market and assist humans to save time and money for other challenging tasks than building strategic plans for the sustainability of the industry and a better world of serving the physical and mental health of human beings.
