The supply chain and logistics sector are being subjected to change from time to time in order to rightly meet the altering needs of potential customers. Here is a quick wrap-up of the key trends in 2019 as the year has just come to an end.
Digital supply chain
Given the complex structure of supply networks and the participation of several stakeholders, manual supply chain management is struggling to cope with the dynamic market. On this note, the digital supply chain gradually stepped into the limelight. While the digital supply chain hasn’t completely replaced its traditional counterparts, 2019 saw major industry players leading the change.
With a digital platform, the stakeholders could gain real-time shipment visibility besides automating and simplifying supply chain operations like never before.
Artificial intelligence is one of the key trends that bolstered the growth of logistics businesses in 2019. AI-powered digital platforms for logistics generated productive insights that helped business operators to make effective decisions and allowed them to make use of their resources to the fullest.
In October 2019, IBM introduced an AI-powered supply chain suite to help organizations optimize their supply chain networks, make data-backed business decisions and unleash maximum productivity.
The application of IoT in supply chain and logistics allowed stakeholders to have end-to-end visibility, which, in turn, allowed stakeholders to monitor assets and mitigate risks thereby cutting down costs.
Nutanix announced a strategic partnership with Hardis Group by the end of 2019 to deliver an IoT-powered digital solution to facilitate hassle-free supply chain management.
The transportation industry has witnessed a remarkable increase in autonomous trucking in 2019. The use of self-driving vehicles for logistics could cut down operational costs to a greater extent and be an economical option for business owners.
In fact, California’s Department of Motor Vehicles (DMV) would start allowing light-duty autonomous delivery vehicles on public roads for testing and commercial use in a while. Also, Walmart partnered with Nuro, an autonomous vehicle company to test autonomous grocery delivery in Houston.
Drones have now become a part of logistics with the expanding market scope for autonomous delivery. Drones have reportedly contributed to super-fast shipping and delivery, eliminating the need for human intervention.
Elroy Air, an aerospace and logistics company, developed an autonomous hybrid VTOL aircraft to transfer humanitarian aid and also serve commercial and military purposes. Also, DB Digital Ventures, Deutsche Bahn’s digital business division, invested in drone infrastructure company Skyports.
As drones are the newest addition to the logistics sector, framing laws for their public operations are still in progress. If drones could rightly meet the legal concerns, they would transform the supply chain and logistics sphere for a greater good.
That wraps up the popular trends the supply chain and logistics industry encountered in 2019.