Today’s fast-paced logistics industry needs to rely on software and technology to ensure efficiency. The most commonly used technology tools address efficiency, flexibility, and visibility in supply chain operations. In a recent study, 86% of companies agreed that they should invest more in technology to identify, track and measure risk within the supply chain. Small business owners to large transportation carriers are finding that technological advancements help to streamline operations as well as improve the bottom line. The following six technology tools are ones your business should consider:
1) WMS
If your company has been experiencing a high rise in cost because of a lack of efficiency in the warehouse, technology tools such as a WMS can help to optimize it. A warehouse management system (WMS) is an essential tool for any facility, but particularly for one that handles a large amount of volume. A WMS handles warehousing tasks such as inventory management, fulfillment processes, and handles storage space. The automation of picking and packing, inventory control, and order processing minimizes human error while improving productivity. It also enables the direction and record of many activities occurring in the warehouse while simplifying processes to be error-free.
2) TMS
Like a WMS, one of the most necessary technology tools for a logistics company is a Transportation Management System (TMS). A TMS helps companies optimize their transportation operations, including route planning, freight management, carrier choice, and invoicing. The automation and real-time visibility that a TMS offers invaluable resources for logistics companies—enabling them to cut costs and make decisions based on data. The full visibility to the supply chain also helps to manage the day-to-day operations.
3) Blockchain Technology
Blockchain is a public digital ledger that tracks transactions and information and data in real time. Every transaction is a block in the overall chain. Blockchain can be used in shipment tracking, bills of lading, and smart contracts. As supply chains have expanded and become more complicated, blockchain can prevent cyber-attacks and inefficient activities throughout the supply chain. Because blockchain is immutable, it is difficult to intercept information that has been encrypted through the use of this technology.
4) Artificial Intelligence
Artificial intelligence (AI) has changed many industries, including the transportation industry. AI allows for data-driven decisions by problem-solving techniques. AI is able to learn patterns based off of historical decisions and adapt to real time circumstances. This technology can streamline logistics operations through the analysis of data. Some examples of the role AI can play include optimizing inventory management, automating processes in the warehouse with the use of robotics, and providing real-time tracking for better visibility.
5) Cloud Computing
Cloud computing involves highly scalable data storage and accessibility and is an essential tool for businesses in any industry. Cloud-based platforms store and analyze large amounts of data. It allows logistics companies to be able to access data in real time from anywhere. All information is stored in the cloud where the data is secured. A platform that is backed by the cloud has direct communication between shippers, drivers, and providers. It simplifies the distribution network as well as making virtual business collaboration easier.
6) GPS Tracking
GPS (Global Positioning System) has become an integral part of transportation as companies manage their fleets. A GPS tracker is a device that uses satellite data to determine and track a vehicle’s location, time, speed, and direction. GPS technology offers benefits such as tracking vehicles and drivers, reviews fuel consumption to minimize expenses, and increases the chance of an on time delivery. GPS tracking enables better communication back to the customer with accurate ETA’s, which improves customer satisfaction and can pick the best routing to save money.
Why Your Company Needs to Invest in Logistics Technology
Technology is the way for companies to manage the flow of goods. Because the industry is becoming increasingly complex, technology is advancing to meet the demand of goods. Challenges to exceed delivery times and transporting larger items are issues that are being figured out with the use of technology. The use of reliable logistics technology is essential for customer satisfaction and for the long-term success of a company.
Verizeal as Your Logistics Partner
Whether your company needs to implement a Transportation Management System (TMS) or is interested in moving to a cloud-based, secure platform, Verizeal is able to help achieve your company’s technology goals. By embracing the power of technology for logistics, your company can reap the benefits of enhanced efficiency, improved customer satisfaction, and gain a competitive edge in the market.
