Technological development enables predictability in logistics

As we head into 2024, which logistics trends will give businesses a competitive edge? Read on, as we delve into this topic in greater depth.

Big data reduces supply chain risks

In this era of globalization, the supply chain is usually a complex network that needs to be composed of many different parts working together.

1.Possible risks in the supply chain: There are many unexpected situations cause disruptions to the supply chain, such as raw material shortages, supply network disruptions, goods being stuck at customs.Not to mention the potential impact of global events such as conflicts, inflation, and epidemics

2.The rapid advancement of technology: Big data offers a novel perspective and method for humans to comprehend complex systems. In theory, by digitizing the real world on a sufficiently small scale of time and space, it is possible to create a digital representation of the real world, embodying its operational principles.

With logistics professionals dealing with more challenges than ever to ship goods, startups selling supply chain tech that can mitigate some of the risks are gaining major investment.

Internet of Things for greater supply chain visibility

The Internet of Things refers to the physical object network connected to the Internet and exchanging data through the Internet. Daily examples include smart TVs, autonomous vehicle and fitness trackers.

Within supply chains, the IoT is fast becoming one of the most important tools, creating an ecosystem that harnesses traditionally unconnected assets and objects for better visibility.These connected devices share data to shine a light on every milestone in the supply chain, for more resilience and transparency.