There is no doubt that the transportation and logistics industry is experiencing a significant transition as new technological results fall into daily usage, guided by market trends. At no time in recent history has there been such a wide degree of political, economic, cultural, technical, ecological and legal transition impacting this sector of the economy.
Logtrans is one of the most trusted logistics and freight forwarding company in Dubai and all over the world.
We would like to share with you 5 Logistics Trends Transforming the Global Logistics Market in 2019
Technology of Blockchain
The advent of blockchain technology has made it possible for logistic companies to default on digital contracts. The use of this new technology enables different stakeholders in the logistics field, such as manufacturers, suppliers, customers, auditors, warehouse managers and others to build a consistent and efficient system for reporting payments, monitoring resources and handling all records involved in the logistic process.
The introduction of blockchain technology is one of the most influential logistics developments to gain traction in the international blockchain technology industry in the shipping and logistics industry as it can increase the efficiency and visibility of supply chains and is projected to have a positive impact on everything from processing to top-payment distribution over the next few years.
Digitalization of the Logistics Industry
Despite the changes in digitalization almost in every part around the world, the logistics industry is not an exception to that. Raising digital literacy and consumer awareness of the use of different online channels to make personalized purchasing decisions, the digitization of the logistics industry has emerged as a crucial development for full traction. Moreover, the use of digitization in the logistics industry is expected to result in significant reductions in production and supply chain costs while at the same time significantly improving total sales. The integration of digital channels into the logistics industry is yet another crucial development in logistics that enables service providers to lend transparency to consumers while integrating solutions for improved safety and efficiency.
Emergence of 3PL and 5PL
The growth of third-party logistics (3PL) and fifth-party logistics (5PL) is projected to boost the international logistics industry during the estimated period. In the year 2017, 3PL was able to make the most of its exposure to the global market share in logistics. 3PL is responsible for covering a wide range of end-to-end transport and distribution requirements, including transporting goods, managing stock records and travel insurance, and providing protection against property damage. 3PL is one of those developments in supply chain management, that enables lowered production costs and shorter delivery times. The increasing complexity of the global supply chain market continues to ensure the implementation of 5PL, where providers of 5PL solutions often link e-business to the achievement of minimum cost targets.
Efficient Last-Mile Deliveries
With the ever-increasing growth of e-commerce firms, the distribution of productive last-mile shipments is experiencing a significant upswing to become one of the most critical aspects of the consumer differentiation between competitors. The …