Technological advances are transforming the way businesses conduct their operations in almost every industry and sector. In particular, the globalisation of trade networks and opportunities has precipitated incredible technological advancements in logistics and supply chain management. Logistics and supply chain management have become critical to meeting growing consumer demand and finding success in the 21st Century.
Modern supply chain management tools and logistics services are making it easier to reduce operating costs, improve oversight and increase efficiency in the supply chains that feed our global trade. They do this by reducing the complexity of supply chains and helping businesses create adaptable, resilient and effective logistics processes and supply chain operations.
Logistics are a foundational part of the manufacturing, retail and transportation industries. This is especially true for international shipping and large cargo storage. In order for each step of the supply chain to operate efficiently, every stakeholder and service provider needs to be in communication, well-coordinated and managed effectively.
Smart supply chain management tools have transformed our global trade network and changed it for the better. Technology-driven advances in logistics have streamlined the business operations of traders, manufacturers and transporters around the world. Effective supply chain management and logistics services help businesses move goods from their point of origin to their point of consumption more efficiently, reliably and safely.
How technology is driving advancements in logistics and transportation
Technological innovations are driving various advances in the logistics and transportation markets. From GPS tracking and warehouse management systems to vehicle management and IoT order fulfilment systems, huge strides are being made in logistics and transportation through the adoption of smart technologies. These logistics and transportation management systems are built on intelligent forecasting and collaborative planning that are run through a centralised digital hub.
In fact, the advancements in supply chain management and logistics technology go even deeper. Logistics and freight forwarding companies are leveraging other technology, such as RFID tags, IoT devices, remote capabilities, automation software and AI-driven data collection and analysis. In combination, these various tools and services are helping supply chains become more efficient while growing their logistical capacity.
The role of logistics and transportation in online retail and e-commerce
If there are any positives that retailers and manufacturers can take from the pandemic, it is the worldwide explosion of online retail and e-commerce. The market disruptions that have occurred are devastating for many businesses, but for others they serve as an opportunity for digitalisation and online market growth. In order to benefit from the online retail boom, businesses are consolidating their logistics and supply chain management; providing better access and service delivery.
The invention of these new technologies, tools and software helps more than just the online retailers in this evolving market. Manufacturers can leverage these inventory management and data collection tools to improve their production processes and redefine their role in the supply chain. By adopting these technologies, every stakeholder in the supply chain is able to communicate, coordinate and support each other.
Industry developments that are changing the logistics market
The best logistics and freight forwarding companies have been focused on shipment visibility and tracking. Consumer demand for transparent and accessible monitoring of their shipments is helping drive the incredible changes we have seen in the logistics sector. Helping online businesses, traders and manufacturers find the best transportation tools and services has become an essential part of being successful in today’s market.
Industry developments in the logistics market have enabled the global trade networks we use to improve, expand and evolve. New logistics and supply chain management platforms and technology are making their way through emerging economies, like South Africa, Brazil and India, helping grow their transport capacity and online access too. The ability to manage, monitor and transport goods to anywhere in the world allows established and growing companies to thrive in this competitive online retail space.
M6T are a trusted freight forwarding and logistics partner for South African businesses and traders. We have a global network that spans across the international shipping industry and helps us provide world-class logistics services to our clients. Contact M6T today for all of your freight forwarding and logistics needs.