Emerging technologies shaping the future of logistics
Published on: May 2021
With the development of technical capabilities and advanced systems, everything that one can think of with respect to logistics innovations is possible today. Be it, autonomous systems, IoT platforms, automated trucks or drone implementations. However, personally having engaged in the Retail, Education Technology, Consumer Durables space there are a few areas that have captured my interest.
When products are shipped even before you know that you want it. There are various firms that work on such analytical capabilities and for this to happen, Logistics plays a humongous role. Imagine, you feel hungry and your favourite food is delivered in seconds? Or better, let there be a drone hovering around your locality in silence, in anticipation of your chance of ordering thereby having ZERO fulfillment time. Although this is a highly disruptive tool for the logistics industry, it would have its negative effects as well. If a child wants something out of pure greed, it still gets delivered, unless there’s a filtering mechanism based on the person, age group, need, etc. That would again be based on human biases and critical thinking. The good side of all this is most definitely in the healthcare sector. Leading historians, many of Yuval Noah Harari’s works revolve around this. Someone having a deadly disease or thinking a negative thought, and the system works so rapidly that the disease is already cured in seconds & the negative thought is changed to positive. The medicines & cures are simply & directly shipped to you based on your thoughts.
Being a Blockchain Technology Management student, I have analysed various modules, nitty gritties of the blockchain implementation and its relevance in today’s markets. Logistics most definitely has a major use. The timestamp & nonce being the most important in these to recognise that a transaction is never repeated and is secured in the system. Smart Contracts define terms, conditions, and modes of functioning. Order initiation at the customer level to shipment information; resulting in more visibility anywhere and anytime is of utmost importance. This also majorly streamlines the Payment Processing applications & reduced reverse logistics. Trade Facilitations being one of the biggest hindrances to Indian Roads and polices can be much more streamlined for using them through the Blockchain Systems.
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With the growth of E-commerce and data-driven decision making, Logistics would also become a highly valued and crucial system. E-Brokerage platforms would be of immense use where everything in the Supply Chain would be delivered in a click.
Although Logistics in 2030, would be highly automated with data & technological capabilities to hedge uncertainty, there is always a human value attached to this. Training in tech and correct deployment of manpower would be of ever-increasing importance where Communications and user sentiments especially in TIER-2,3 areas and factories would have to be kept in mind. What do you think?
Disclaimer: Views expressed here are the author’s personal views.
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