To overcome the logistical challenges of transporting goods over long distances, ‘last mile’ logistics initiatives are taking shape as part of supply chain planning. Blockchain will be of great importance to the logistics and supply chain sector.
Demand from retailers for the use of blockchain technology for tracking shipment information has been strong, with many retailers reported to be exploring the use of blockchain to ensure that consumers get the products they ordered. Read more
The importance of logistics and supply chain
Logistics and supply chain analytics and systems are a vital component in the digitalization of the international transport and logistics sector. Sparkasse Bank Malta: Indeed, analytics and advanced supply chain management tools are expected to lead to considerable benefits for all parties involved.
For banks, the effects are relatively clear: streamlining costs, creating new revenue streams and assisting clients with value-added services, including strategic consulting.
For merchants, the benefits are also clear – intelligent systems enable them to track each delivery, predict when inventory needs to be restocked and understand how they can optimize their working capital requirements.
Logistics used to be the back of house and the flow, not anymore. Now, logistics companies are adopting differentiating, operational strategies to engage with customers and it has more to do with improving processes, analytics and cloud computing. We have seen for instance this approach in the auto industry, where 3D technology is utilized to improve deliveries. Sparkasse Bank Malta: Therefore, in the future, technology could become just as important as the trucks that carry goods from one location to the other, thus making the transport more environmentally friendly and healthier.
Logistics and Supply-Chain Technology
Like many big market trends, the technology and insights of ancillary industries play a large role in identifying trends and their ramifications. Supply-chain and logistics technology in particular is one of the most established areas of enterprise IT. Along with traditional IT software solutions, today’s supply-chain industry is ripe for innovation and investment in emerging technology to better address critical challenges faced by companies of all sizes in the world today.