Business innovation driven by digital transformation takes center stage, together with the need to revamp existing business models, in order to be competitive on the market. This fact is acknowledged by 65% of organizations active in these sectors, according to Forbes insights, “Logistics, Supply chain and Transportation 2023: Change at Breakneck Speed”, 2018.
We invite you to explore our infographic below, for useful insights from industry leaders, to see the latest tech trends that are reshaping Supply Chain and Logistics industries
Managing a business in the digital era requires an in-depth digitization process to keep up with the latest technological advancements in the industry. There is no doubt that technology has profound disruptive effects on supply chain and logistics operations. But how exactly are the industry leaders feeling about adopting technology and starting to digitize their business? What are their top tech priorities? What are the pros and cons of digital transformation weighed by the supply chain and logistics executives?
Please find the infographic transcript below.
Did you know that…
| 50% of companies believe that technological advancements have a strong impact on the supply chain, logistics, and transportation operations? | 63% of organizations have no or weak tech systems in place for monitoring supply chain performance? | |
| 81% of supply chain managers report that data analytics will be crucial when it comes to reducing costs? | 46% of supply chain professionals still rely on excel spreadsheets for their operations? | |
| 75% of large manufacturers are looking to update supply chain operations using IoT and analytics-based situational awareness? | 25% of logistic and transportation companies do not have a strategy in place to adapt to the deep industry transformation enabled by new technology? |
Why are supply chain and logistics executives still reluctant to embrace technology?
| 48% – Budget constraints | 39% – Lack of required tech skills |
| 35% – Knowing where to start | 15% – Resistance to change |
| 14% – Legacy infrastructure | 10% – Potential business disruption |
What technologies drive competitive advantage for supply chain and logistics?
Technology | 2020 current adoption rate | 2025 expected adoption rate |
| Cloud computing and storage | 59% | 90% |
| Robotics and automation | 39% | 72% |
| Predictive Analytics | 28% | 82% |
How is technology impacting Transport operations?
Transport management systems (TMS) | Route Planning and Vehicle Tracking |
|
|
|
|
|
|
What are the benefits of digitalization for the Logistics and Supply Chain industries?
| 90% of firms dealing in third-party logistics agree that data-driven decisions prove extremely beneficial to supply chain operations | 2/3 of companies expect to see an increase in productivity and speed, which helps with improving route and equipment optimization |
| 53% of companies believe technology will deliver significant benefits that will increase the customer experience (CX) | 53% of organizations expect to see significant improvements in both uptime and flexibility
|
| The benefits of digitalization for the companies in the logistics and supply chain sectors will increase their value up to an estimated $2.4 trillion | |
Conclusions
In an increasingly digitized world and taking into account the current market conditions of COVID-19 impact, the time to act and embark on your digital journey is now. By digitizing your logistics and supply chain workflows, you will automate operations, increase customer satisfaction through hyper-personalization, and boost business productivity. These are only a few of the key benefits of business transformation.
If you need a partner to translate your specific Logistics needs into personalized digital solutions, get in touch with us and our consultants will be happy to share their insights and advise you.
Want to learn more?
Get in touch with us and let’s digitize the
Logistics and Supply Chain industries together.
Managing Partner Software Engineering
sorin.gavanescu@softelligence.net
Sources:
- https://supplychaingamechanger.com/the-digital-transformation-in-logistics-technologies-barriers-and-predictions/
- https://www.9spl.com/blog/technology-transforming-logistics-industry/
- http://info.forbes.com/rs/790-SNV-353/images/Penske_REPORT-FINAL-DIGITAL.pdf
- https://financesonline.com/supply-chain-statistics/
- http://www.mhi.org/media/news/37484
