Trends That Will Reshape Logistics Management in Nigeria
What are the trends shaping the future of supply chain management?
Supply Chain Trends for 2022 and Beyond. Supply chains, much like living organisms, need to evolve to survive. New technology, like robotic process automation (RPA), cloud computing and artificial intelligence (AI), replaces weak links and alters the supply chain software market at large.
What kinds of things are going to affect global supply chains in 2022?
Driver shortages, logistics provider capacity issues, inflation, shipping delays, increased freight costs, depleted inventory levels, labour shortages and demand peaks are driving discussions and require attention.
Successful businesses are those who adopt a blend of the most recent trends and employ them in a manner that capitalizes on conventional and current technology. In this blog, we’ve compiled a list of trends that are reshaping the logistics management industry.
Technology’s Influence on Logistics
New technologies are having a significant impact on logistics and supply chain operations. As per Research and Markets, the rising usage of IoT and developing technologies across sectors would boost the use of linked logistics. The global market for connected logistics is anticipated to expand at a 19% CAGR between 2022 and 2026.
Logistics must evolve to meet the increasing needs and complexity of their processes as efficiency and speed become more critical. The industry needs a realistic solution that regulates product flow to ensure the proper product gets to market on time.
Using logistics software, inefficient operations may be minimized or eliminated entirely. Improved processes, procedures, and delivery times have been noticeable for organizations employing logistics management software.
The Benefits of a Logistic System Software
Transportation is an essential component of logistics. Tolls on the roadways, fuel, labor, and transportation expenditures are the most expensive.
Among the numerous advantages of utilizing logistics software is the capacity to handle multiple modes of transportation and the utilization of operational data to automate procedures. Logistics management software makes it easier to analyze data and make informed decisions, reducing costs and increasing effectiveness.
More Efficient Means of Transportation
Problems in the supply chain and logistics business can cause delays and late delivery. The usage of logistics software enables enterprises to swiftly deliver their items to their clients.
By actively engaging in the production process and selecting the most appropriate transport option, logistics management software may help shorten delivery times.
Reduced Human Errors
Another significant benefit of logistics management software is the reduction in human error. Transportation data analysis can be time-consuming and error-prone when done manually. A logistics software can handle this data correctly and quickly, resulting in minimal or no delays in procedures.
Simplifies Day-to-Day Operations
A key benefit of logistics software integration is the automation of processes. Logistics software makes it simple to automate logistical operations, including cargo routing, load planning, and load tenders. The quantity of paperwork that has to be completed is also reduced, resulting in more quickly and efficiently performed activities.
Analyzing various shipping companies, delivery partners, and means of transportation can help establish the most cost-effective way of transportation. Logistics software also reduces costs by reducing the need for urgent shipments through better shipment planning.
Trends That Will Reshape Logistics Management
Logistics organizations will use Artificial Intelligence (AI) to find patterns in data and provide new insights. It will aid in developing activities such as intelligent transportation, route planning, supply planning, and financial management, among others. Through real-time projections and behavioral coaching, artificial intelligence-driven logistics optimization may save expenses.
Intelligent warehouse management and logistics management software have been developed over the past couple of decades by many pioneering robotics businesses. Supply chain robotics have been increasing at an exponential rate recently. By the year 2022, the warehouse robotics supply chain industry is expected to be worth $22.4 billion worldwide.
You may get real-time pricing adjustments, inventory, and tracking information using cloud-based logistics management software. The use of cloud-based logistics software allows for real-time accuracy and 360-degree process and system administration.
From the time you place an order to the time the product is delivered, you may monitor its progress. It’s a great way to cut down on lost items and deliveries, find a cargo at any point in the shipping process, and redirect a package that’s been misplaced.
Contactless Last-mile Delivery
In a world afflicted by pandemics, the importance of contactless delivery cannot be overstated. Due to the increase in online purchasing, eCommerce firms and carriers face increased pressure. It is essential to maintain flexibility by guaranteeing business continuity.
Both safety and delivery requirements must be met at the same time. Self-service package pick-up, electronic parcel lockers, and contactless delivery streamline the delivery process by removing the need for clients to engage physically with delivery personnel.
Predictive maintenance has experienced tremendous growth in the logistics business thanks to the rapid development of sensor and AI technology. Supply chain managers seek to use data efficiently to enhance predictive maintenance, estimate demand, modify inventory levels, enhance cold chain transport, and preserve the integrity of the supply network.
Blockchain enables the recording of all types of transactions between parties in a safe and permanent manner. It enhances supply chain traceability, improves data trustworthiness, streamlines administrative operations, and facilitates effective monitoring of supply chain information.
What are the 6 logistics goals?
Objectives of Logistics Management
- Improve Supply Chain Efficiency
- Inventory Management
- Fulfill customer requirements
- Mitigate product damage
- Reduce Operational Cost
- Quick Response
- Optimize delivery performance
- Efficient Flow of Information.
What are the 7 R’s of logistics?
In this step, we look at the 7 Rs of logistics. So, what are the 7 Rs? The Institute of the federal Logistics & Transport (2022) defines them as: Getting the Right product, in the Right quantity, in the Right condition, at the Right place, at the Right time, to the Right customer, at the Right price.