Trend 5: Technology and 5G

Technology is the enabler of the transformation. I highlighted this trend in last year’s article I wrote about 2020 trends. Since then, and despite COVID-19, the world is seeing a massive development around 5G, the deployment of 5G and its use cases and currencies are widespread. By the end of this decade, 5G will have changed the business landscape as we know it.

The full potential of IoT (Internet of Things) to track inventory will finally be unleashed under 5G. Cargo can be fitted with inexpensive sensors that use very little power, and track goods from the factory floor, through the shipping process, to the warehouse, all the way to store shelves, creating a trusted record of an item’s journey. One of the most disruptive uses for 5G networks is driverless transportation. 5G is likely to make this possibility a reality, which will have a huge impact on the logistics industry.

Every business relies on data to function, and logistics companies handle even more data than most. Because of the far lower latency, companies will be able to distribute and exchange far larger quantities of data than ever. They can process it closer to the source, rather than dialling out to remote servers. It means companies will have the means to build a lean, distributed cloud network to tie their logistical operations together. The collaborative potential alone for using 5G to keep multiple vendors and partners on the same page, in real-time is a potential game-changer alone.

Overall, we are up for a highly transformative, rapidly moving and very exciting future. It’s imminent for supply chain leaders to foster an environment that attract individuals with an infinite mindset, where learn, re-learn and learn again is a natural. Employees need to be increasingly savvy with interpreting, analyzing, and conceptualizing information and collaborate around it. This requires employees with highly agile and cognitive capabilities and who have a mindset of curiosity. Also, it puts significant new demands on the type of leadership and its maturity to leverage and truly release the power of the people and organizations.

Tags: Shipping News / International Shipping News / 5 Global Supply Chain and Logistics trends 2021 / Logistics 2021 / Future of Logistics

 
Source: Greencarrier

https://www.hellenicshippingnews.com/5-global-supply-chain-and-logistics-trends-2021/