Top 10 Logistics and Supply Chain Technology Business Trends: Disrupt or be Disrupted
Logistics industry alone was $8.1 trillion in 2017, and was well paced to double by 2023. For a market that size, even small technology implications are colossal.
To be honest, technology is no stranger to the logistics industry and juggernauts such as Amazon have already given us a peek into the future.
Consider the 2019 Gartner’s CEO and Senior Executives Survey which revealed that a whopping 87% of respondents expected changes in their business model in 2021; come 2021, we have to magnify the response and expect some major business model changes.
Top Logistics and Supply Chain Trends to follow in 2021
A sea of change has been triggered by 6 forces acting collectively:
Logistics Digital Ecosystems Powered by Blockchain: It seems to be a logical solution for an industry ailing with issues such as lack of transparency, auditability, tracking as well as peer-to-peer data interoperability, fraud detection, and contract management to create new ecosystems that solve the above issues to a large extent. Blockchain in Transport Alliance (BiTA) is an exemplary effort that enables logistics juggernauts FedEx, UPS, and Uber Freight to create standards, approaches and even solutions to maximize the benefits of blockchain ledger technologies. This seems to be a perfect beginning for more standardization to come.
Logistics As A Service (LaaS):
As in other industries, logistics-tech companies are beginning to disrupt. Perfect example is the company — Just-in-time, and BluJay Solutions are LaaS providers that allow organizations to have cutting-edge logistics capabilities very quickly vis-a-vis building them in-house. This shift to LaaS can be attributed to the need for better customer experience, and cost as well as tech expertise involved.
For detailed insights into each trend, read the blog.