(Author of the article is Manish Bindal - CEO of Trans Cargo)
With time the world has been awakened to the potential of digital and analytics to transform the traditional interactions and processes into optimizing efficient and time saving operations. The technology has tapped upon all aspects of businesses including supply chains. The inclusion of technologies such as embedded sensors, GPS, and RFID is helping companies to bring more agile, flexible, open, and collaborative digital models.
A study commissioned by McKinsey reports that 93 percent of supply chain executives are planning to take steps to make their supply chains more resilient, including nearshoring and regionalizing their supply chains. That clearly indicated that organisations are more than willing to digitise their supply chain management and up their game in every way possible.
Smart Logistics Platforms Are Transforming With Automation
The digital transformation in the supply chain responds to the timely changes in the way of consumption and customer expectations. The robotic process automation enabled with AI can be integrated with the shipping management software and help in relieving logistics managers from repetitive tasks, which can cause inefficiencies.Improve Resilience Across The Supply Chain
The unexpected occurrence of the pandemic acted as a test for supply chains and identified many loopholes in the system. The rapid fluctuation in demand and supply resulted in many supply chains collapsing, making it a calling for supply chain managers to strive for more flexibility and resilience. Digital transformation is enabling supply chain managers to increase resiliency in the supply chain to handle uncertain situations such as a pandemic.Cost and Time Efficiency Through Automation
Time is the most valuable commodity in the logistics industry, here every step and phase has to be timed perfectly to ensure the supply chain remains timely operational without any disruptions of goods within the supply chain.With digitalization, not only does time efficiency increase notably, but the error ratio also drops significantly as the team will be able to access various information and data through single digital platforms.
End-to-End Visibility With Real-Time Tracking
By using digital solutions, the organizations get real-time access to tracking which helps in understanding and mitigating possible delays and disruptions in the logistics supply chain. The end-to-end visibility also provides dynamic routing, which helps in saving time in case of disruptions and provides constant updates of the route to shippers or forwarders so that they can re-route the shipment to ensure on-time delivery and customer satisfaction.The inclusion of Interoperability via digitalization
Companies may use digitalization to not only expedite the flow of data through their operations but also to acquire data-driven insights that can help them improve efficiencies. Furthermore, digitization and data consumption are prerequisites for a worldwide interoperability framework among many stakeholders.Digitalization in Blockchain
Blockchain is one of the biggest developments for the logistics sector, it offers businesses end-to-end solutions for efficient operations. Including digital solutions in blockchain gives more visibility into the network and helps eliminate unnecessary intermediaries from within the supply chain. It also helps in reducing bottlenecks and clerical errors, while smart contracts would increase transparency.Digital transformation has become an unstoppable reality in the logistics sector. So, for businesses that are re-evaluating their supply chains, now is the best time to start putting their plans into action. It is one of the most effective and safest ways to build a resilient supply chain and blockchain technology is its greatest exponent. It gives your business a competitive advantage today and sustainability in the future.
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