Industry 4.0 has been changing how industries across the world operate, and the field of logistics is no exception. It’s changing how companies operate, how they keep track of freights, how transparent they are, and they go about tradeshow logistics, among other things.
Multi professional services company Accenture recently released a study that highlights how important it is for traditional freight and logistics companies to stay up to date with the latest developments in technology, or end up obsolete. A familiar story that a lot of people have heard by now; it is, after all, the usual story of technology.
According to Accenture’s paper, if logistics companies persist on sticking to the old ways, they’ll not only lose competitiveness, but value, while embracing digital technologies and new digital business models, they can greatly improve their competitiveness. The company’s estimate states that doing so would boost company earnings before interest and taxes by about 13% annually.
That’s a bold statement to make, but given that their company’s reputation is at stake if they get it wrong, it’s probably a good indicator of how useful the latest developments for the logistics industry; how they go about tradeshow logistics and freights, and the like.
Accenture listed down the key technologies that they feel are the particularly disruptive to the logistics industry.
Accenture predicted that robotics process automation (RPA) will boost automation in the logistics industry to near full, especially in the planning and customer invoice processes.
3D printing has been changing how manufacturing proceeds, boosting decentralization of finished goods. For logistics, it’s no different; it also allows for an increase for additional value chain activities, while boosting transport volume.
Blockchain allows for increase data distribution, as well as validation technology, which helps greatly with transparency and shipment visibility. With the demand for increasing transparency, companies need ways to garner trust with the company.
Digital platforms are all about allowing for greater clarity and optimization in the logistics industry. If you’re paying attention, clarity and transparency got repeated mentions; they’re in demand now more than ever. As such, any digital platform service that can reliably provide a logistics company improved transparency, and efficiency, is worthwhile.