When a commodity is ordered online or is being parceled from one place to another, generally a folk think about two persons, one who received the parcel at the desk from source location and other one who delivered at the destination. But factual scene of a logistic sector includes a number of hands in transporting one commodity from one end to another. Now a day’s this simple sounding industry is going under myriad and rapid transformation. A number of technological growths are being noticed in this sector in the past few years and even more are still to come in the upcoming future. There are number of advancements emerged in the logistic industry and each are due to the technological growth in the recent decades. This transformation has made the logistics task much simpler and swift by automating a number of processes. IOT: Numbers of challenges are faced by logistic sector which comes as a hurdle in delivering the best services, such as theft, delayed transportation, operators’ errors, faulty monitoring, and many more. Present world of technological growth has one stop solution for each of these issues and the answer is Internet of Things (IoT) which assists you to interrelate your various devices and monitor it from a single platform making it simpler and faster than ever before.
In present day, logistics is not just confined with the transportation of a commodity from one place to another; rather it deals with the customer’s satisfaction and meeting their expectations. Logistics have set their certain priorities that are empowering them day by day. Now they majorly focus on visibility of supply chain, quality service, on-time delivery, etc. The major pillar of a logistic company is their inventory management and also it is considered as one of the toughest jobs. But with the advancement of technology not only inventory management but also other important aspects, such as warehousing, automation, keeping each stage of transportation in loop, etc. are been made simpler. Internet of Things also renowned as IoT has been the major aspect responsible for this great development. Location management system: On-time delivery is one of the most important facets that define success of a logistic company. Timing of a product delivery mostly fails due to miscommunications between the folks involved in this transportation. But with the technological advancements, each stage is now well connected with each other. Now companies can get details of each stage, such as packing, vehicle location, driver’s activity, delivery status, etc.
Everyone says now world has become smaller, but that’s not the fact. Of course the size of globe is not affected buy even 1% but technology has pushed these boundaries very closer virtually and logistic industry is one of the greatest examples of narrowing the borders of globe. In you date back your memories to a decade or two back then you will find hardly goods were transporting from one place to another, an if you are willing to transport your goods far away to any other country then logistic costs were sky high. Now, with the technological advancement you can transport any commodity to any part of the world. Advancement in the logistic industry: As we all know there are a number of online shopping portals and even we never give a thought from where our ordered goods are being transported, just we are concerned about the delivery date, but there is long procedure running in the backend right after your order is placed and all thanks to the logistics industry who take an excellent care for packing and delivering right product to the right customer.
Present era is completely digitized and in this digital fast moving world supply chain is acting as the best possible way of communication for all those businesses which are related to production, distribution, consumption, etc. do you know when you order a commodity online or just parcel it from one destination another, the commodity goes through multiple hands to reach the right destination. And to reach the right destination at the right time, supply chain acts as the strongest pillar for the logistics sector.
Hence, most of the product oriented companies widely depends on supply chain management to operate efficiently and successfully and also it is one of the biggest part of a product based company consuming approx. 40-60% of revenue generated.
Asset or a loss: As mentioned above, supply chain management of a company consumes approx. 40-60% of generate revenue then you might be taking it as a loss factor but if you calculate it correctly and conduct a survey over the product market then find top product based companies have the best logistics team and also are one of the major reason for their success.