Logistics as an industry is a really exciting one as it has a lot of stories to share from its side, it has the nature of going through some severe ups and downs of waves and recently it has gone through some tough times due to the COVID situations. Today things are falling back in place and here in this blog, we will be looking at the notable logistics trends for 2023.
More Usage of RFID
The market revenue of RFID (Radio Frequency Identity) tags is expected to hit USD 17.6 million globally by the end of 2028, and the logistics industry is no exception, the presence of RFID would cater several benefits to the logistics industry, especially with decision making. The connected systems to the RFID help in retrieving useful insights from the inventory to make sound business decisions.
Inclination towards Digitization
The best pathway for the logistics industry to become more structured is to adopt digitization. The presence of digitization will streamline not just the logistic industry but highly influences the entire supply chain space positively. Digitization will enhance the workflow and improvise productivity.
Last Mile Delivery
Last-mile delivery is the one thing that is still considered an unfulfilled desire of the logistics industry, due to cost and other business-related factors, last-mile delivery is not done with great efficiency. This is the time to overcome the issue by joining hands with technologies like automated drones that makes it possible, still there is a long way to go in implementing it completely, yet it can be started now.
More demand for Greenhouse reduction
It is said that by 2050, the logistics industry will be the leading player in terms of high carbon emission in the world, and already contributing 8% to the carbon emission in the current scenario, this is the right time for logistic players to step back and think about remedial measures. However, the combined effort of governments is essential to control this situation in the future.
Staying updated with the evolving business trends and planning better according to the change in the regulation of the governments is vital in terms of the logistic industry since both these factors highly influence their success rate. In the future, the best-performing logistic player will be gauged based on their adaptability rate to changing trends and government policies.
Mergers and Acquisitions will grow
Mergers and Acquisitions are always a part and parcel of the business world, and despite the industry to which an organization belongs, it will witness it for sure. The happenings of mergers and acquisitions in the logistics industry are not new, and they will continue to happen in 2023.
Investment in Smart Implementations
The evolving logistics industry will witness some notable changes in every phase, and smart implementation of business strategies is the current trend now that will be highly discussed in 2023. It aims at customer satisfaction as the end goal, and companies will move towards it either by expanding their service portfolios or their geography of service.
Normalization of Carrier Cycles
Timely delivery of inventories is based on the availability of carriers that ships them, and for a logistic player to succeed it is vital to keep the carriers ready and deliver the stocks to the destined hubs on time to attain customer satisfaction, the demand and supply of carriers will be noticed and plays a key role in 2023 for logistics.
Remote-work will stay
This is something to focus on the workforce and the trend revolves around it, the logistic companies will not take out the stake of remote work completely and offers it to the in-office workers if possible. This is an attempt to retain some valuable resources and maintain a good work culture.
Following remote work culture, this trend also revolves around the workforce, and it aims to make them digitally ready. Surely, not all the employees of the logistics sector in India hold good digital awareness and the majority of them lack it despite their hierarchy, since, digitization is the future, it is high time to train your employees to adapt to the wave and sustain.
It is important for the industry to know about the upcoming trends that would disrupt their operability and the logistics industry is no exception in this. Being the top logistics player in the Indian logistics industry, V-Trans keeps regularly updating with the evolving trends and that has made us unique till date.