As companies strive for growth and competitive advancement in today’s economy, many are turning to digital transformation as the driving force of growth for their businesses. According to Statista, global spending on digital transformation is expected to reach 2.8 trillion U.S. dollars by 2025. As more companies turn to digital solutions to improve their services, IoT technology will transform multiple industries, including logistics.
How Automation is Transforming Logistics
From machinery to transportation, opportunities abound for automation in logistics. Automated drones, conveyor systems, retrieval systems, and handling machinery increase efficiencies in storing, retrieving, and transporting goods throughout a warehouse. Automation allows warehouses to meet increasing consumer demand while battling continued labor shortages. By streamlining production and automating repetitive tasks, IoT technology and other digital tools allow workers to handle tasks safely and efficiently.
How Blockchain is Transforming Logistics
Digital transformation in business operations and logistics has led to digital methods of inventory management and record keeping. Blockchain provides a record-keeping solution that eliminates the mile-long paper trail of physical records. A blockchain ledger, visible to all members of the blockchain network, provides an immutable record of production and transactions in the supply chain process.
This digital solution provides real-time updates rather than delayed reports delivered after sorting through physical files. Blockchain’s efficiency and the immutability of its electronic records may be part of the reason that global spending on blockchain solutions is projected to reach almost $19 billion by 2024.
How Supply Chain Visibility is Transforming Logistics
Just as IoT technology and other digital solutions can be used to create transparency in logistics records, these solutions can create transparency in the entire supply chain process. Transparency is especially important as many businesses turn to an omnichannel approach for distributing their goods and communicating with customers.
The real-time data generated by IoT technology used in the supply chain process allows companies to immediately access shipping details, accurately forecast delivery times, meet compliance requirements, and adjust their process according to KPIs. As digital transformation increases supply chain visibility, companies are better prepared to meet their customers needs and maintain a competitive edge.
Want To Transform Your Logistics Strategy?
Link Labs has created a powerful solution to help improve logistics processes. The AirFinder SuperTag provides affordable real-time tracking, indoors, outdoors and on-the-road to help enable more streamlined processes such as material tracking and monitoring. If you want to learn more about implementing a logistics solution, book a demo today.