The logistics industry is no stranger to technological change. Few warehouses would consider using a hand-written ledger or other analog methods in 2020 when standalone digital kiosks and tablets have become the norm. These digital improvements have allowed for greater speed and efficiency, yet there are still gaps to be filled when it comes to logistics technology.
Seconds matter in logistics, where even a short delay in activity can cause issues further along the delivery chain. What’s more, the need for accuracy in identifying, handling, and processing packages is of keen importance. On average, businesses across the globe experience an average shrinkage rate of about 1.44%; given that the worldwide logistics industry is worth approximately 5.5 trillion euros, these losses and inefficiencies add up to billions missing from company balance sheets.
Major firms have begun the search for solutions to these issues. There’s a great deal of promise in wearables – technology that, as the name implies, you can wear on your body and use to improve the logistics processes. Much of this technology is available here and now, while some remains just over the horizon. In any case, these devices could define the future of logistics tech and are already seeing increased adoption in companies seeking the next competitive edge.