Is the global logistics due for long term changes?
Team Veye | 21-Nov-2021
When the World Health Organization declared COVID-19 a pandemic, more and more countries across the globe shut down their borders and limited transportation and travel to contain the pandemic outbreak, thus, creating limitations for international trade and transportation.
The pandemic also exposed most firms to severe supply chain disruptions due to undiscovered supply chain vulnerabilities.
Logistics firms, which were involved in the movement, storage, and flow of goods, were directly affected by the COVID-19 pandemic. These companies had been the main facilitators to trade and commerce and helped businesses get their products to customers both within the country and internationally.
The disruptions in the supply chain had far reaching effects including economic growth. The ripple effects of imbalances for end-users were more than evident.
The need to keep the world moving has accelerated innovations within the logistics industry. Covid-19 has accentuated the criticality of the supply chains.
Now, as the world focuses on life post-Covid, the global logistics landscape going forward will undergo many changes. Some trends like automation, analytics, and real-time visibility accelerating due to Covid have been put on global supply chains.
Innovation has always been the key secular driver for growth in international logistics. Automation technologies such as artificial intelligence and robotic process automation can be used to enhance strategic planning and forecasting, improving the overall efficiency of the supply chain.
The introduction of AI and digitalization along supply chains will not only readily inform those in the logistics industry and their customers at both ends of the system exactly where are the weakest links in the chain and how to reroute traffic, but also help prevent recurrences.
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