WHAT’S IN STORE FOR THE FUTURE OF LOGISTICS OUTSOURCING? LET’S MAKE A PREDICTION.
A Darwinian approach towards cumulating future possibilities & opportunities in the logistics sector.
When you talk about the future, do you have a hunch? Are you able to read the logistics horoscope? Or, how accurate are you with crystal gazing? Let’s break it down and take a walk down the future of logistics outsourcing. There are various possibilities, but at the end of the day it boils down to the nature of the business itself. Every business is unique, their strategies are tailored for themselves, and plug & play strategies may or may not work. In such a conundrum, there are two possibilities, either make wild guesses or invent solutions for the future of logistics. So, what’s the future for logistics? Let’s find out.
Bespoke 3PL Solutions
Logistics companies often work with third-party logistics providers to streamline their supply chain. This is based on the buying patterns of the consumers. Keep in mind that each customer is unique, and so are their demands. For example, elderly citizens or youngsters have different buying styles. 3PLs will have to customize their services to cater to this market trend. This will also be based on their own capacity to respond to high volumes and requests. Logistics providers will have to expand their network, depending on market trends and customer demands.
The Technology Foresight
The role of technology in the logistics sector has played a crucial role in its evolution. The future of logistics is going to be no different. Increasing complexities and workforce compliances will skyrocket, and to deal with such concerns, robotics & technology will play a major role to fill that void. Meaning – drones & robots. Amazon, an online retailer has already started using this technology and soon will be adopted by major logistics providers across the world.
Big Plans For Big Data
You heard it right, and since it’s the flavor of the month, Big Data will soon impact the logistics sector as well. Rich Data along with Big Data will make high-quality information available concerning warehousing, delivery trucks, assemble points, forklifts, etc. to logistics providers. This, in turn, will impact the logistics industry in a big way.
Impact on Small & Medium Business
Even in the logistics sector, it’s the survival of the fittest. Larger logistics providers have large investments, whereas small & medium enterprises don’t. To make their supply-chain more flexible, the SMBs will have to rely on the support from third-party logistics providers for more flexible & efficient logistics solutions.
The logistics market is evolving at a very fast pace and it is essential to keep up with the trends. Business model innovations will rule the environment and the market players will have to keep us with them. Multinational companies such as DTDC are paving the way for new innovations and trends. Demand for flexibility and customization will increase the number of subcontractors which will result in a stronger and a more streamlined network of logistics providers. Cloud computing will also shape this industry. In other words, constraints in the logistics sector will soon be a thing of the past and new innovations and solutions will determine the future of this business.