Digitisation is effecting radical changes in the transport and logistics industry, altering strategic, commercial and operational processes. According to a recent survey conducted by Forbes Insights, 65% of logistics, supply chain and transportation executives acknowledge the necessity to revamp existing models and add flexibility to business operations in order to ensure omni-channel delivery, reduce costs and meet the ever-shifting consumer demand.
The transportation and logistics industry has observed steady growth for more than 10 years and now represents an over US$300 billion industry. The industry has three major challenges – agility, sustainability, and visibility – and industry players are hoping to address those challenges through digital transformation. Efficiency, optimization, speed and timing have always been crucial in logistics and transportation. Today, amidst a range of accelerating evolutions and in an increasingly digital environment where digital transformations are affecting the next revolution of industry, it is even more so.
The transportation, travel and logistics industry has undergone a digital shift due to technological advancements. Modern technologies in the market are gradually expanding the scope and horizon of the transportation industry. Empowered with these technologies, transport and logistics companies can increase business accuracy, personalize services, and understand and predict the customers’ behavior and preferences.
Kilowott can help you with digital transformation. We believe that the path to increased operational efficiency and customer satisfaction lies in the digitalization of logistics workflows. We offer an in-depth knowledge of the industry, the latest insights into international trends and developments, and objective analyses of new technological possibilities. We transform and modernize technology platforms of transport and logistics businesses leveraging new and emerging technologies.With rich product engineering heritage, we build the right technology strategy to achieve the desired competitive advantage. We identify gaps in your existing digital infrastructure, align your business processes and create a blueprint for your digital outreach.
The power of data
With supply chain being a goldmine of structured and unstructured data, it seems only natural that the Internet of Things, Artificial Intelligence and blockchain are considered the key drivers of Digital Transformation in logistics, supply chain management, warehousing and transportation. By gathering the information generated by connected equipment and logistics software and matching the data against Machine learning models implemented in the cloud, businesses can achieve greater supply chain transparency and dramatically reduce operating expenses.
Internet Of Things
Operating on three levels — i.e., connected hardware, infrastructure which facilitates data exchange and processing and the software tier — IoT solutions can monitor goods’ whereabouts in real time and ensure they arrive at the right time and place and in appropriate condition. Furthermore, IoT solutions enable businesses to assess demand based on historical data and automate inventory replenishment.
With the greater availability of cloud managed services supporting rapid and cost-effective development of custom AI-based analytics solutions — as well as exponential growth in IoT devices’ computing power enabling software engineers to relocate data processing closer to the edge of a network — complex logistics management tasks become manageable such as route and freight cost optimization, intelligent forecasting, automation of processes and so on.
The applications of the distributed ledger technology in logistics largely fall to smart contracts — i.e., self-executing digital contracts which allow companies involved in goods distribution to automate the buying process, eliminate bureaucracy and commercial process inefficiencies related to human error, secure payment transactions and increase supply chain transparency. Furthermore, a blockchain-based logistics system can store electronic documents on goods’ origin, transportation conditions and expiration date. A digitized and efficient workflow will also give customers insight and transparency into the logistics process so that they are able to have feedback into how their transactions are progressing and can know whether or not there is additional documentation needed to move forward with the process.
End-to-End Supply Chain Visibility
IoT combines the company’s online presence with the physical stores through real-time collection at key points in the supply chain. This paves way for end-to-end customer satisfaction and improved supply chain process. Also, the data captured helps in improving accuracy. With the sensor-enabled IoT solutions, companies can monitor the location and speed of vehicles precisely. Another huge advantage of IoT in supply chain visibility is inventory and equipment monitoring, management. Along with inventory management benefits, it also provides predictive maintenance information, alerting the engineers for the potential breakdowns to avoid costly machine maintenance operations.
The high adoption of digital technologies in the field helps transportation and logistics companies to solve a wide range of problems, from asset underutilization and supply chain inefficiencies to increasing connectivity and visibility across different systems. Let us help you. Talk to us now! We help streamline operation and harness the power of digital to achieve higher margins and increased profitability.
The ngX Framework
Based on our deep design and technical experience across industries we’ve developed a proprietary digital framework, the ngX framework, which is leveraged across all our projects.
The ngX framework consists of the following steps:
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