A revolutionary transformation has been underway in the logistics and supply chain industry, driven by emerging technologies, changes in global consumers behaviour and the increasing concern towards environmental issues. In 2023 it is absolutely crucial for organizations to keep up with the latest trends and remain competitive and innovative to deliver high-quality service to their customers.
Let’s understand the latest trends taking the logistics and supply chain management by a storm:
Supply chain agility and visibility
The sheer ability to track goods as they move through the supply chain is critical for ensuring effectiveness in the operations. What 2023 brings for the future is a transparent supply chain operation that offer efficiency in the business transactions. With use of data analytics, blockchain technology and other digital tools – a seamless visibility of the supply chain is expected trend to grow.
The final stage of delivery is becoming increasingly popular and crucial as more consumers shop online than a decade ago. From 2023 and towards the future, this aspect in the supply chain management is expected to grow exponentially with a deep focus on reducing delivery costs, improving the last-mile delivery times, and adopting new technologies of delivery like drone and autonomous vehicles.
With global concerns over environmental issues, all sectors are pushing to move towards sustainable solutions. It is becoming a top priority for logistics and supply chain operation. The future trends in this regard expect to see a focus on reducing carbon emissions, working with more renewable energy sources, and adopting circular economy practises that aid in better management and preservation of earth limited resources and climate change management.
What will continue to be a mega trend is the digitization of the logistics and supply chain sector as more and more emphasis and focus is paid to automation, use of AI, and data analytics. Organizations are openly embracing digital transformations of their daily operations to help reduce costs, bring in higher productivity and improve efficiency.
With online shopping world becoming prime place of commerce, consumers demand for seamless shopping experience across platforms – be it e-commerce, social media platforms or actual stores with tech-based solutions. Another popular trend for the logistics and supply chain sector is to work with omnichannel presence in their logistics operations that essentially involves integrating all their sale platforms to offer their customers a seamless experience.
Power of collective
Collaborations and partnerships are shaping a new trend in the complex supply chain sector. Since it involves many different stakeholders, the new trends shaping the future of this sector is a focus on becoming part of a collective effort with brands and other organizations that seek to optimize the supply chain operations and offer a competitive value to their customers.
Talent engagement and management
A key developing trend in the sector is to build a unique strategy to attract new talent and keep them engaged in the organization. This can involve offering specific training to have skilled workers as needed for the sector. Upskilling current employee base, retaining the top talent, and promoting a diverse and inclusive environment will help shape a promising sector.
One of the top priorities for the sector will continue to be customer experience. The supply chain sector aims to build a loyal customer base and for this their end-to-end efforts are to make the entire process fast, seamless, reliable, and personalized. The trend will be to make their services one-of-its kind, say a delivery via drone or AI powered robots.
Building resilient systems
With the pandemic pushing the boundaries of human existence and survival, a key trend shaping the sectors’ defining strategies is the building a resilient supply chain that stand the test of time, withstand natural disasters, pandemics, and geopolitical events.
Technological adaptations are key to staying relevant in the sector, what one brand does with an AI tool and data analysis can set them apart from another. One can lead the customer experience, and another can lead the last-mile delivery – all based on what a particular organization focuses on building as a vision for their future.
These trends and developments will require a large number of talented professionals to take over functions and jobs to empower the logistics and supply chain sector. Become part of the solution in the sector with an MBA in E-commerce, logistics and supply chain management from MBA-ESG, Pune.