Chamber Chat - Using technology to improve logistics
For many companies, the supply chain is no longer a simple cost of doing business; it is a way to generate competitive advantages. And technology has become the perfect enabler for advances in the supply chain.
Artificial intelligence, for example, can instantly identify opportunities for efficiency, cost improvement and risk management. The growing access to thousands of data points, computing power and cloud capabilities, combined with AI algorithms that analyze trends and predict scenarios, is providing shippers with the real-time knowledge to make faster and better decisions.
Economies of scale on the hardware side and the increasing ubiquity of local digital networks mean that telematics systems have very low operating costs. People are increasing always ‘on’, permanently online and connected to the digital world.
It is similar for logistics. The movements of everything shipped are being followed in real time and at very little cost. The use of standard data transmission systems will certainly spread across the world, on every container, in every vehicle and in a high number of valuable individual shipments.
Sensors and data capture devices will become more powerful and more intelligent. For instance, containers will be able to monitor their own contents for explosives or radioactive material, and even more independently through a logistics network. This will take place by intelligently linking the containers to each other, as well as by defining the critical path in the supply chain. Automatic prioritization and giving precedence to certain shipments ahead of others in the supply chain will also be part of the mix.
In addition, the Internet of Things will come into play when companies begin deploying control towers that will help increase supply chain visibility. More visibility improves strategic capacity. Once logistics companies understand shippers’ movements and the nature of their freight, they can build specific carrier relationships that give access to capacity on a consistent basis throughout the year.
Regional Key Account Manager
Peterson (United Kingdom) Ltd. • Energy Logistics
Office Suite 17
• Lillyhall Business Centre
• CA14 4HA
Registration No. 3311077. Registered address: St Bride's House, 10 Salisbury Square, London, EC4Y 8EH