6 Logistics and Supply Chain Technologies That Are Expected In 2023

Prime Minister Narendra Modi on September 17, 2022 launched the National Logistics Policy which is expected to provide a massive boost to the nation’s logistics sector. National Logistics Policy aims to increase digitization and streamline the operations from different ministries. The policy also aims to make use of advanced supply chain technologies and reduce the cost of logistics throughout the nation. All of this can help India to be among the top 25 logistics ecosystems in the world. Moreover, 2023 tends to be an innovative year for supply chain management because of multiple reasons including the change in markets, global interference, advancement in supply chain technologies and multiple other reasons.

Businesses today are now capable of implementing increased efficiency and sustainability with the help of numerous supply chain technologies that are there in the market today. These supply chain technologies are capable of transforming the entire supply chain picture in the Indian market today. Today, we have covered some of the most advanced supply chain technologies that are capable of changing the entire industry. These logistics and supply chain technologies are most likely to revolutionise the way businesses operate their supply chain operations. These supply chain technologies along with the National Logistics Policy can enable businesses to make better supply chain operation decisions, instantly react to evolving market trends, and also lower expenses throughout the entire supply chain process.

List of 6 Logistics & Supply Chain Technologies That We Can Expect in 2023

The list of the 6 logistics and supply chain technologies that we can expect in 2023 is as follows:

Automation In Supply Chain Management Process

Artificial Intelligence and robotic systems can help businesses to lower their operational costs while simultaneously increasing the efficiency and visibility of their supply chain operations. Businesses can make decisions on the basis of real time data and stay ahead of the market challenges that can possibly happen in the future. AWL India ensures that your business can take advantage of all these cutting edge technologies including Artificial Intelligence or AI, Machine Learning or ML, Internet of Things or IoT, and Robotics and become a part of the changing economy. Recent research suggests that 61 out of 100 people believe that technology is capable of providing a competitive edge over the market competition. While others see it as an investment prospect and are most likely to invest in the robotics industry.

Extended Durability Of The Supply Chain

Supply chain technologies are most likely responsible for the extended durability of the supply chain system. However, sustainability as a whole is an important aspect of the supply chain process since a lot of businesses today are more focused on lowering their carbon footprint. Companies today are more focused on making use of sustainable supply chain technologies and adaptive eco-friendly packaging materials that can contribute in reducing their environmental damage and support green logistics. Renewable energy solutions can help in reducing the carbon footprint while using carbon footprint calculators on the other hand can help you to keep a track of the environmental pollution. Applying such supply chain technologies can help in making the supply chain more sustainable and durable and businesses can stay ahead of the rapidly increasing market competition.

Blockchain Technology in Data Handling

By using the blockchain technology, businesses can store and distribute data securely throughout their entire network. These distributed records have the ultimate potential to transform the entire supply chain industry. Moreover, businesses can use smart supply chain technologies to automate their existing operations. On the other hand, blockchain technology ensures that only the most genuine items are supplied to the clients which eliminates the possibility of duplicate products entering the market.

Collective Workforce

The latest and automated supply chain technologies can enable your business to work with the suppliers and other partners to instantly create work strategies that can help in the smooth functioning of the supply chain operations. Collective planning and workforce is also essential for making efficient use of all the resources available that can help in allowing all the workforce to work in a collaborative manner. Looking at the current scenario, businesses can make use of cloud based supply chain technologies and predictive analysis to efficiently manage their logistics and supply chain operations.

Risk Management and Adaptability

Eliminating the risk factor from the supply chain is one of the most challenging parts for any business. However, AWL India can enable you to identify and handle potential challenges before they become major threats. With AWL India, you can make use of the most advanced logistics and supply chain technologies that can assist you in dealing with sudden market changes as well as global disruptions. Identifying the possible threats before time is the most challenging action for any business to maintain efficient supply chain operations. Identifying possible threats can enable you to implement predictive analysis that can suggest solutions for the upcoming challenges.

IoT Monitoring

With the beginning of 2023, the Internet of things or IoT is becoming a crucial aspect in the supply chain industry. Tracking the flow of products throughout the supply chain has now become an important aspect, yet it can be challenging at times. However, with the help of IoT enabled devices, it is now possible to track the flow of your products throughout the entire supply chain. AWL India makes sure that with the help of IoT enabled devices you are able to track your product flow throughout the entire supply chain, which can help you in making more informed decisions. These advanced supply chain technologies ensure efficient and effective operations in these ever changing market conditions.

Conclusion

These are the 6 logistics and supply chain technologies that are expected in this current year. Because, over the past couple of years, businesses tend to change their logistics and supply chain technologies and strategies since they are no longer able to derive the desired results. However, AWL India makes sure that your business is able to keep up with the global market trends and can have even more efficient supply chain operations. These supply chain technologies can help in revolutionising the supply chain industry and make logistics and supply chain operations more efficient in the coming years