Can blockchain also be used for freight management?

The Technology of the Future in the Logistics Industry

The progress in technology development doesn’t stand still, constantly improving user experience in every field – no exception for the logistics industry.

Everyone is talking about the application of digital technologies in logistics which has to revolutionize the business, and many industry players are getting lost in the amount of information on the subject.

At the same time, nobody wants to miss out on the next ‘UBER’ that will disrupt the traditional industry with the brand-new business idea based on the brand-new modern technology.

We have prepared an overview of the ‘hyped’ technologies, using simple words.

So, what are the hottest trends when it comes to the future of logistics?

  • The Blockchain

Blockchain became the buzzword in logistics industry in 2018, when Maersk Line signed the contract with IBM and started working on developing the common platform for the world’s supply chain called the TradeLens. 

Since the start, more and more players who represent different supply chain sectors have been joining the initiative, making it the largest collaboration project in the industry since Inttra. However, some big companies are concerned about Maersk sitting on the main chair and enforcing the rules on everyone else, and are naturally hesitant to share their data with the competitor.

You can read more about the blockchain and its applications in logistics in the next articles.

  • SaaS and the Cloud Technology

Cloud Computing is about placing and storing your data in a virtual space, a.k.a. a cloud. This technology is very popular among the private users. Think of Dropbox or iCloud in your iPhone. In the business world, companies were required to buy, build, and maintain their IT infrastructures despite the exponential costs. Until the SaaS. 

Software as a Service has a lot to offer to the business. If it’s used properly, it can help save money, time and human resources. But what about data safety? Usually, SaaS companies use Cloud platforms from the large service providers, such as Google, Amazon, Microsoft, etc. making it the safest possible storage space.

You can read more about SaaS and cloud technology in our next articles.

  • The Artificial Intelligence (AI) and the Internet of Things (IoT)

Over the past several years, the logistics industry has started to invest in Artificial Intelligence solutions. The AI includes intelligent transport & route planning, supply & demand planning, sales automation tools — but this is only just the beginning. 

Internet of Things (IoT) means connecting to the Internet any item equipped with sensors and communicators, with the ability to control it automatically and remotely.

From last-mile delivery robots and smart ports, to warehouse automated systems and business optimization software, AI and IoT are already making a difference in logistics. In addition, 5G opens up fundamentally new possibilities, including broadcasting data at a speed of 20 GB/s.

Shippers, carriers, suppliers, and consumers can all expect to benefit from these logistics technology trends in 2020’s.

We have prepared a number of articles about the future of technology in logistics industry. We will cover the hottest trends and their potential application to logistics and freight rate management.

Stay tuned!