More than a third of transportation and logistics executives believe that robotic process automation (RPA) will bring the biggest change for the industry in the upcoming decade. Almost a quarter (24%) expect that Artificial Intelligence (AI) to change profoundly the industry. A study conducted by Digital Reality of hundred industry executives found that nine out of ten respondents (91%) are continually looking to increase their investments in their data infrastructure.
Data Analytics and Artificial Intelligence solutions have many applications in the transportation and logistics industry. Process optimization, reduced operating costs, and new business models are some of the benefits that organizations can take advantage of adopting disruptive technologies.
However, the advantages that technology can bring to the industry are much broader to all departments, and nowadays, accurate data analysis is an indispensable resource for leveraging business, being competitive and achieving the best results.
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The information generated by several data sources such as maintenance records, visual and acoustic sensors and GPS units, provides fundamental insights that influence the decision-making and increase business profitability.
According to Digital Reality, the amount of industry-generated data in radio frequency identification systems (RFID) and inventory management applications has nearly doubled every 40 months since the 80’s. In addition to that, many industry experts believe that data volume will be 44 times higher in 2020 than in 2019.
With correct predictive analytics, organizations can adjust production and operations to avoid waste and high costs by tailoring operations to needs. Forecasts enable better resource allocation, identifying market opportunities and trends, and optimizing the entire logistics chain. Moreover, technology solutions help organizations to deliver superior and differentiated service, for example, by minimizing lead time with faster deliveries at a lower cost.
From ordering to consolidating deliveries, the entire chain can be optimized. Focusing on process quality and efficiency, the manager has at his disposal, concrete and useful information that enables him to make the best decisions and identify weaknesses to improve.
Automation can also play an important role in distribution centres. For instance, Amazon has more than a hundred thousand robots doing tasks, like picking or helping the team with e-commerce orders.
Technology has become a cornerstone for logistics management to become more competitive and efficient. The supply chain is more transparent, optimized deliveries and reduced inefficiencies.