Logistics as an industry is a driver of the nation’s competitiveness and enterprise while playing a vital role in economic growth. However, the aftermath of the pandemic has still caused the current logistics industry to bear high costs and low efficiency. The development of smart logistics brings opportunities to solve these problems. As one of the important technologies of modern information, the Internet of Things (IoT) is responsible for creating oceans of data while exploring the complex relationships between the transactions represented by this data, with the help of various mathematical analytical technologies.
These features have been the key selling points for the rise of IoT as a technology
Technological developments have been rampant across sectors. Among them, IoT has gained massive significance over the last few years. While logistics plays a vital role in economic growth, it still bears the brunt of complex supply chains and high labour costs. Smart logistics is based on modern advanced information and communication technology (ICT) and can realize the modern integrated system in an intelligent way.
It enables real-time processing and comprehensively analyses the information from a 360 degrees logistics perspective. Smart logistics renders end-to-end visibility, efficient transportation, warehousing, distribution processing, information services, etc. and, can contribute to time and cost savings. Moreover, it has the potential to reduce the overall environmental pollution caused by logistics.
Adoption of IoT in Logistics offers ease of operation, reduced work burden, flexible supply network, adoption of technologies leading to increase visibility and safety of goods. These factors are essential, owing to market fluctuations and undeclared lockdown imposed due to escalating Coronavirus situations. The technological transformation of enterprises is helping them to sustain in the fast-pacing industry by keeping up with resources and demand-related decisions.
WHAT THIS WHITEPAPER OFFERS?
This whitepaper sheds light on Smart Logistics based on IoT technologies and the widespread attention it has garnered and is being studied on a broader spectrum. Having said that, its significant development has been influenced by a lot of other technologies such as AI as well.
Overall, with the continuous development of IoT, wireless communication technology, AI, and other advanced technologies, an array of researchers and enterprises have increased their research efforts on smart logistics, which are based on multi technologies accelerating their business processes. In the coming times, IoT is expected to witness notable growth in transportation and logistics verticals. Fleet managers and operators will have efficient access at their fingertips. The available information will reduce cost, mitigate human errors, boost supply chain productivity, and automate end-to-end logistics processes.
Author Name: Nitish P.