Last mile trucking is becoming more critical to supply chains with the rise of consumer expectations for same-day delivery. As artificial intelligence is expected to begin maneuvering vehicles on the roads within the next decade, some drivers may be replaced by autonomous trucks as early as 2027.
Rising interest in autonomous and semi-autonomous drones will help companies grow their last-mile delivery capabilities by improving flexibility and delivery speeds.
The Internet of Things (IOT) is expected to improve insights into what trucks are carrying, preventing deadheading, or trucks carrying around empty loads. In warehouses, IOT devices will be used to safely operate machinery and move heavy items around on automated carts.
Blockchain technology will increase supply chain visibility and automate Bill of Lading transfers as cargo ownership changes between supplier and buyer. This can translate to industrywide savings up to $5 billion and reduced lag time between new product launches and their actual shipments
Improvements to supply chain visibility will allow all stakeholders in the logistics industry to operate more efficiently by preventing damage or loss of cargo as well as streamlining inventory management.