During the challenges posed by the Covid pandemic, the logistics industry proved to be highly resilient. While it is not a direct threat to the entire sector, there is a danger for companies that do not embrace technology at a fast enough pace. In the next decade, those who adopt technology more quickly will have a significant competitive advantage over those who do not, impacting logistics companies, seaports, airports, airlines, retailers and ecommerce brands.
When major trends enter the marketplace, it’s crucial to stay focused on opportunities instead of being distracted by noise. A better approach is to identify significant opportunities and challenges and then determine how technology can improve them. For example, focusing on returns and reverse logistics can help businesses become more sustainable and profitable while offering a better consumer experience – something all businesses should aspire to achieve.
To maximize the potential benefits of technological advancements, projects aimed at improving predictability of returns can be developed using AI and data analytics. By starting with the most significant opportunity, businesses can improve their operations and gain a competitive edge in the industry.
