The logistics market is a big market that is estimated to be worth billions of dollars across the globe. This means that many businesses are affected across all sectors, ranging from e-commerce and fashion to the high-tech and pharmaceutical industries. With the beginning of the age-old processes that have seen shifting demands caused by technology and the internet age, it has become difficult to satisfy the needs of the customers. As such, logisticians and business executives must find ways of addressing new problems and understand how new technologies work. Here are big ideas to transform your logistics in the modern dispensation.  

In 2020 and 2021, supply chains reached their breaking point due to the pandemic. However, in 2022, there is some semblance of recovery as most services come to their pre-pandemic levels. Despite the challenging times in the past two years, there are many lessons that businesses can take from the occurrences. Businesses need to rethink their approaches to material sourcing and logistics. Businesses can capitalize on the problems they faced last year to ensure that their supply chains recover fully and are resilient enough to face the potential problems they encountered in the past year. This comes down to investing in artificial intelligence (AI), Machine Learning (ML) and automation, all of which are critical in the digitization of the supply chain and diversification of manufacturing.

COVID-19 has created a significant imbalance between the supply and demand of goods, affecting global supply chains. At the height of the pandemic and lockdowns, every part of the value chain was put under stress, from raw material sourcing to the end customer. Furthermore, areas like commercial, operational, financial and even organizational resilience were put under an unexpected test. The stress on the value chain during the COVID-19 period highlighted risks and gaps in the resilience of every company, including the bigger ones. As CEOs look to make things better to avoid large-scale disruptions in the future, some believe that innovation is the only route to resilience, while others believe that increasing investment in disruption detection will bear good fruits.