During the Covid-19 pandemic, the news was full of reports about the problems in the global supply chain. The automotive industry was short of chips to produce self-driving cars. But there was no one missing to play casinochan.com/en-CA/games/live_casino.
It was not the only industry that suffered from not receiving its products on time or at all. The Corona crisis also had an impact on our transportation system. Not just in terms of new restrictions. Like wearing a face mask, gloves, and at some point a vaccination card or a negative PCR test result. But also on how it evolved to make travel safer.
The global supply chain needed to be made more resilient to external shocks like a global pandemic. Significant changes were made, especially in the transportation and logistics sector. And new developments are on the horizon. You should keep an eye on the most important ones to stay up to date. These trends are not unique to one sector but can have a major impact on our lives. For example, drones, AI, and blockchain which also influence our banking and financial systems.
TRENDS TO KEEP AN EYE ON
Most people use a transportation system every day. Even the products we buy are not always local. Especially when it comes to tech products. So the logistics industry has a huge market to serve. To make this possible even during the crisis, there are the following trends to keep up with.
First is the physical Internet. PI or π for short. This will have the biggest impact on the logistics industry when it comes to the physical handling, movement, storage, and delivery of items. It aims to improve the efficiency and sustainability of global logistics, which will have a major impact on logistics companies in particular, regardless of their products.
Second, it is a common IT standard used worldwide. Since the global supply chain does not stop at borders, but truly connects countries, this will help make it more consistent and transparent. So the different parts of the chain need to adopt a new, shared IT standard. This would also save a huge amount of time and improve collaboration between audiences and stakeholders.
Data analytics will become increasingly important to manage the flow of data. This large volume will help forecast capacity and understand what customers want. This will improve warehouse management and inventory. Regardless of the channel, it will make processes more efficient.
The next trend is blockchain. This technology stores proof of ownership for digital assets. It is being used in various sectors. Since it cannot be altered, which makes it more secure, it is mostly used in industries such as payments, cybersecurity, and healthcare.
Digital assets are decentralized and provide real-time access, transparency, and control. Blockchain ledgers are transparent – all changes are documented, maintaining integrity and trust.
Robotics and automation also play a role in improving logistics and transportation. They will make transportation more efficient and also safer. This is because it aims to reduce human errors such as carelessness. In road transport, self-driving cars are also the great hope for the future to have fewer accidents.
The last trend to mention here is the 3D printer. It will reduce the need to ship finished goods.
It remains to be seen what other innovations and developments will improve our supply chain. Certainly, we have learned from the pandemic not only in the healthcare sector but also in logistics and transportation. The Corona 19 crisis hit the economy very hard. And we are still living with some of the consequences.