Applying Digital Twins in Logistics

Digital Twins in Logistics

Continual advancements in the logistics industry have created new opportunities for disruption, but one of the most intriguing comes in the form of digital twin technology. If you haven’t yet heard about this innovation, there is no doubt it will be spoken about as one of the most popular logistics trends of 2020.

If you’re not already familiar with the concept, let us explain: Traditional computer modeling of parts and machines doesn’t currently take into account the way in which parts wear out and are replaced; how fatigue accumulates within different structures, or how often owners make modifications to adapt to their changing needs. However, the advent of digital twins technology is changing this process drastically: Parts and structures that were once inaccessible by computer models are now able to be included in the digital world, allowing us to engage with the digital model of a physical object or part just like we would with their physical counterparts. This means that any changes made to the physical object are now also reflected in the digital model — something that was never possible in this manner until now. 

Best Logistics Technology News of 2019

Best Logistics Technology News of 2019

Picture Credits: DCSA, Port of Rotterdam, Volvo Trucks, Continental, Nikola Motor Company, Uber Freight, Flexport, Wing, Amazon

At the beginning of the new year, it is always useful to go back and analyze the announcements of the previous year to better understand what is coming ahead. While we have already discussed the logistics and supply chain technology trends for 2020 earlier, looking at the news from 2019 can adjust our vision for the announcements of the current year and demonstrate which companies and sectors we should expect to develop the most over 2020.

Below are the most important and interesting logistics technology announcements which were on our radar during the past year – from the growing importance of investment into the sector to impressive real-life cases of the most innovative technologies in logistics and supply chain.

Here is the list of topics in this article:

Logistics Startups of the Month: 2019 Overview

Logistics Startups

During 2019, Transmetrics Blog has been showcasing many logistics and supply chain startups which are using innovative technologies to improve the industry’s performance. As a part of the Logistics of the Future Series, we’ve highlighted the most remarkable startups disrupting Maritime Shipping, Trucking, AI in Logistics and many more. However, sometimes we wanted to learn more about some of these outstanding solutions. Therefore every month we were interviewing one company which represents a positive example of innovation in logistics and Supply Chain.

In this article, we highlight all the startups featured in the “Logistics Startup of the Month” series to demonstrate their importance for the development of the industry. From AI to Blockchain and from real-time visibility to platooning, here are all the logistics startups that deserve to be in the spotlight:

Transmetrics to Bring Logistics Efficiency with a €1.67 Million EU Grant

Transmetrics Receives 1.67 Million Euro Grant

Brussels/Sofia, 9 December 2019Transmetrics, a leading software provider of predictive optimization solutions for the logistics industry, announced that the company has been awarded a €1.67 million grant by the European Commission in the ultra-competitive European Innovation Council Accelerator programme. This funding will support the development of Transmetrics’ unique AI-driven logistics optimization software. Over 1,800 applications were submitted to this funding round but EC selected to finance only 75 projects that truly represented breakthrough deep-tech innovations with significant societal impact.

Best Logistics Articles of 2019

Best Logistics Articles of 2019

2019 has brought significant advancements for the logistics industry, thanks to actively developing artificial and augmented intelligence, advanced analytics, and automation, among other things. In addition to that, we’ve witnessed a great collaborating force rising in the sector and Digital Container Shipping Association is one of the best examples of that.

Since we’ve always kept our eyes open for the new technologies and innovative logistics trends, we’ve done our best to cover all the above-mentioned topics on Transmetrics Blog in 2019. The following articles proved to be the most engaging in 2019 among our readers.

Logistics Startup of the Month: CARGOMETER

CARGOMETER

Every month we select one logistics startup which represents a positive example of innovation in Logistics and Supply Chain and has the potential to alter the way the industry operates. This month, Transmetrics selected CARGOMETER, an innovative solution for 3D freight measurement, as the “Logistics Startup of the Month” for the remarkable developments of computer vision for logistics operations.

In order to learn more, we have talked with Bernhard Obermaier, the Co-CEO of CARGOMETER, about the startup’s journey and what is behind their “on-the-fly” freight measurement technology.

10 Logistics and Supply Chain Events in Europe You Should Visit in 2020

logistics events

Picture Credit: Intermodal Europe

Each year thousands of professionals in the cargo transport industry are attending supply chain and logistics events. These events help attendees learn about the best practices in the industry today, and provide them with insights about the trends and technological developments of tomorrow. Each event is unique and important for diverse reasons. Unfortunately, it is challenging to attend all of the good logistics conferences due to busy schedules, limited time and budget. It makes it difficult to choose which events to prioritize.

To save you time, Transmetrics prepared a list of 10 best supply chain and logistics events taking place in Europe in 2020. We have selected some of the best conferences that will provide you with actionable insights that can guide you to make a real impact on your business, based on the latest trends and technologies in the industry:

Top 10 Supply Chain and Logistics Technology Trends in 2020

logistics technology trends

Increasing technology innovations are making big waves across industries, and logistics and the supply chain may be one of the most impacted sectors. Notorious for its heavy use of manual processes and large amounts of data stored in different ways and in different places, the logistics industry has perhaps the most to gain from implementing new technologies and following the most innovative Supply Chain and Logistics technology trends.

Recent years have seen massive advancement for the logistics industry in areas like artificial and augmented intelligence, advanced analytics, and automation, to name just a few. These technologies have evolved faster than ever while startups with even newer solutions and innovations continue popping up at a rapid rate. But attached to these innovations are new expectations and standards, forcing logistics companies to either adapt or fall behind. Much pressure comes from customers in the form of individuals and enterprises, all of who are demanding their products or services come faster and cheaper than ever before.

But advancements in technologies aren’t the only big changes influencing the industry. From new shipping regulations to growing global tensions and trade wars, and a predicted economic recession, logistics companies will need to be alert and prepared for 2020. For example, carriers are already working hard to meet the global 0.5% Sulphur cap, which goes into effect on January 1, 2020. It would affect up to 70,000 ships, according to IMO estimates, and could lead to a 20-30% increase in total fuel costs, which would ultimately be passed on to customers.

Global trade wars and tensions like that of China and the U.S. have continued affecting logistics operations. In 2018, trade tariffs affected $34 billion worth of Chinese products imported into the U.S., with China also taking costly countermeasures on U.S. imports. The European economy has also been going into a downturn as Brexit concerns continue weighing heavily on European countries, and the U.S. economy has also been growing weaker. All of these issues are signaling a possible global recession in 2020, which would make things much more difficult for logistics companies.

There is much to consider as 2020 quickly approaches. Companies within the logistics and supply chain sphere must continue getting ready for all of these bigger changes with innovations. From digital twins to blockchain to real-time supply chain visibility, Transmetrics has identified the Top 10 important logistics technology trends your company should be keeping an eye on in 2020: