The logistics and transport industry has been in for some time now. But what we have seen so far is just the top of the iceberg. Global spending on digital transformation in the logistics sector, which stood at around $3 billion in 2020, is projected to soar to $84.6 billion by 2027. In the current context, digitalization has gone from being a luxury to a crucial necessity for the survival and competitiveness of logistics companies. Digital transformation in logistics represents the integration of new digital capabilities in areas such as warehousing, order picking, transport, and more. And of course, it is a breakthrough for the optimisation of the logistics last mile.
Many companies have long since been ahead of the curve by investing in cutting-edge technologies. Advances in artificial intelligence, big data, cloud data storage, robotics, the Internet of Things (IoT), and digital twin simulation environments are making operational processes much more efficient and are enabling logistics companies to deliver their items and products faster and with less margin for error. The intensive use of technology is also contributing to a substantial reduction in storage, inventory management and distribution costs.
Technology also has a lot to do with improving compliance with local and global industry regulations. Thanks to the use of automation, monitoring, and process compliance tools, logistics companies are much better prepared for future regulations and meet regulatory requirements.
Companies will be able to customize order processing and tracking to better meet customer needs. The adoption of artificial intelligence and robotics will improve order processing, product delivery, and tracking, increase productivity in deliveries, and make transportation safer.
As in all logistics transformation processes, the key is not to invest in more eye-catching or revolutionary systems, following a trend, but to thoroughly study the needs of the company and evaluate the return that each innovation will have.