There are a lot of speculations as to what decisions supply chain leaders will take in the coming times. What logistics trends will gain momentum in 2024 and beyond? There is a lot to look for and anticipate because a lot is going on. The upcoming trends can be best utilised in the favor of the company. Businesses have the chance to increase their supply chain resilience. They can make the best use of the resources to boost their ability to grow in the face of challenges such as the rise of e-commerce and the dearth of qualified labour.
Let us have a look at the emerging trends that will shape industrial and business development in 2024 and bring in innovations.
Logistics Process Digitalisation
Logistics is experiencing growth in every aspect and one of the most evident logistics trends for 2024 is digitalisation. The progress in technology has had a significant impact on all operations that occur within and outside of facilities. Warehouse management systems (WMSs) are now used to monitor goods and the vehicles that transport them. The tracking of products is becoming more advanced with the use of RF handheld scanners, artificial vision, and even drones to read labels. As a result of these advancements, item location is faster, delivery times are shorter, competition is increased, and customer satisfaction is improved.
One of the ways for logistics service providers to proactively address potential issues and streamline operations is by rigorously tracking inventory levels. This helps prevent stockouts, which in turn ensures that companies can meet demand and gain a competitive edge.
To achieve real-time visibility of their inventory levels, businesses invest in tools such as WMS software. This software analyzes performance and upgrades demand planning through data collection, allowing businesses to make informed decisions to improve their operations.
Warehouse Automation and Robotics
One of the most optimal ways to speed up logistics operations is to opt for automated systems in internal goods transport operation, storage and handling operations. Solutions such as stacker cranes and the Pallet Shuttle system are the best ones to rely on to make the processes more agile and efficient.
The rise of e-commerce began with sales to individuals, in business-to-consumer (B2C) environments. However, online transactions between organizations continue to grow, giving rise to business-to-business (B2B) e-commerce. Companies now expect the same conveniences found in retail shops from this trade model. For this reason, online wholesale retailers are also using marketplaces and subscription models in their strategies.
Customers demand faster deliveries now than ever and organisations are always looking for better ways to achieve the quickest shipping times. This demand has mandated businesses to replace traditional processes with other alternatives. Retailers may look to set up more and more regional warehouses, parcel drop-off and collection points and an omnichannel strategy that helps customers return products to places other than the point of purchase. The aim is to achieve maximum flexibility and agility which will make it easy to optimise business operations.
Programs powered by AI that buy or sell products are referred to as machine customers. A popular example is a printer that inspects when there is no ink and orders another toner cartridge by itself. This kind of technology is powerful enough to influence trade and industry in the coming years.
Gearing Up for Logistics in 2024 with Victory Freight
In 2024, logistics and commerce will experience phenomenal transformations. Hence, it’s crucial to be all set to face these changes and get an edge in the competition. With the enhancement of AI — and automation and real-time visibility as great strategies — it’s imperative to pay heed to emerging logistics trends and focus your efforts on strengthening your supply chain.
If you want to improve your logistics processes without causing any disruption to your operations, Victory Freight can help you. We have been implementing digitalisation and automation projects in various sectors for many years, serving both multinational companies and small retailers.
Have some queries related to our services and how we help you to get an edge? Get in touch with our experts to know more.