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The trends that will shape the logistics business in 2023

· The supply of essential goods and services has had a devastating impact on the industry as a whole.

· But the troubles did not end there, with the collapse of the oil and gas sector adding to the woes of the logistics sector.

· In 2021 alone there has been a 430 percent growth in supply chain attacks.

· There is continuing uncertainty around regulation, requiring organizations to rethink their tactics and strategies.

· Logistics and supply chain leaders should prepare for disruptions apart from the weather and natural disaster, labour shortage, port congestion, and more.

· Here are a few trends that will transform the logistics industry in 2023:

1. Enhancement in RFID

The global Radio Frequency Identity (RFID) Tags market revenue is expected to reach a value of USD 17.6 million by the year 2028. Logistics enterprises should have integrated file-based technology in place to connect devices to core enterprise systems where the data is stored and analyzed.

2. More emphasis on digitalization going forward

The digitization of the supply chain will transform the industry with a focus on incorporating digital technology into various supply chain activities. Successful logistics and supply chain digitization will streamline, improve, mobilize and make your supply chain process more resilient.

3. Last Mile Delivery

Last Mile Delivery is one of the prerequisites that is pushing the entire logistics industry forward. Efficient last-mile delivery operations result in keeping customers happy and satisfied, increasing business, brand loyalty and better margins. With the introduction of autonomous drones delivering packages to their destinations, the future of logistics indeed seems exciting.

4. Demand for greenhouse reduction will increase

Freight transportation contributes to 8% of global greenhouse gas emissions (11% if counting warehouses and ports). The logistics industry is set to become the highest carbon-emitting sector by 2050. Achieving the reduction of CO2 will require the industry to take strict measures.

·The logistics industry and the supply chain is continuously witnessing upheaval during the unpredictability and instability of the world. Organizations still have control over how they respond to emerging challenges. Logistics leaders will continue to develop better strategies to reduce risk due to the vulnerability in the industry space.


source by: financial express


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