The logistics industry has proven to be very resilient in the face of the challenges posed by the Covid pandemic. While it is not a threat to the entire industry, there is a risk for organizations that do not adopt technology at a fast pace. In the next decade, those who embrace technology more quickly will have a significant competitive advantage over those who do not, affecting logistics companies, seaports, airports, airlines, retailers and ecommerce brands.
When major trends enter the market, it’s crucial to focus on opportunities rather than being distracted by noise. Instead of starting with technology and then looking for applications, businesses should identify the biggest opportunities and challenges and determine how to improve them. For example, focusing on returns and reverse logistics can help companies become more sustainable, profitable and provide a better consumer experience – something all businesses aim for.
By utilizing technology such as AI and data analytics, projects aimed at improving predictability of returns can be developed. Starting with the most significant opportunity, businesses can maximize their potential benefits from technological advancements.