Cloud Technologies Revolutionizing the Logistics Industry
The total U.S. ton-miles of freight is anticipated to reach 7.67 trillion ton-miles by 2045. Technological breakthroughs are transforming the logistics industry - digitization and adaptation of new robust technologies are leveraging opportunities to change the supply chain workflows. Cloud computing technologies have been fundamental to supply chain, industrial transformation, globalization, and e-commerce reaching their peak – the technologies have resulted in new operating models, cost reduction, flexibility, scalability, and agility. According to a research report by Market Research Future, the Logistics software market is forecasted to reach a market size of USD 18.31 billion, growing at a compound annual growth rate of 10.5% by 2030.
The supply chain and logistics industry are going through a technological transformation with an altered way of living - the covid-19 pandemic, global e-commerce boom, and rise in customer expectations acting as a catalyst. According to the DHL Connectedness Index 2021, trade in goods has surged to well above pre-pandemic levels, despite capacity challenges and trade tensions.
The global logistics market is expected to grow at a CAGR of 7.89% by 2026. These technologies help manage the day-to-day operations and warehouse management systems.
Some of the technologies moving logistics infrastructure in new areas are;
- Cloud technologies help enterprises obtain smooth execution of processes, cost reduction, scalability, flexibility, efficiency, and the opportunity to collaborate across the supply chain
- Cloud-based logistics provide real-time data to strategize inventory, transportation, and warehousing
- SaaS solutions are helping supply chain and logistics management by streamlining processes and increasing visibility
- IoT technologies play a pivotal role in tracking, transferring data of transported assets, remotely controlling, and monitoring the transportation process
- AI enables inventory management, customer support, automation of internal processes, and location intelligence
Renaissant, a Milwaukee-based startup, and a well-reputed SSI client adopted digital technologies to transform operations and optimize the entire business ecosystem. According to a 2018 survey conducted by the U.S. Department of Transportation - truck drivers lose an estimated $1.1 billion to $1.3 billion in wages every year due to detention - Trucker detention refers to a delay that occurs while in pick up or destination delivery. Renaissant, utilizing the digital platform designed by SSI has been tackling this long-standing issue and transcending language barriers that many companies face with truckers.
SSI is a software development and advanced analytics firm headquartered in Chicago with over 400 global employees and three decades of experience in delivering technology services to fast-growing tech companies and enterprises including Fortune 500s. Looking for an expert to help you learn more about Cloud Technologies for your business? Send an e-mail now to firstname.lastname@example.org to book a free consultation with our experts.
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