In present day, logistics is not just confined with the transportation of a commodity from one place to another; rather it deals with the customer’s satisfaction and meeting their expectations. Logistics have set their certain priorities that are empowering them day by day. Now they majorly focus on visibility of supply chain, quality service, on-time delivery, etc.

The major pillar of a logistic company is their inventory management and also it is considered as one of the toughest jobs. But with the advancement of technology not only inventory management but also other important aspects, such as warehousing, automation, keeping each stage of transportation in loop, etc. are been made  simpler. Internet of Things also renowned as IoT has been the major aspect responsible for this great development.

Advancements made by IoT are listed below:

Location management system:

On-time delivery is one of the most important facets that define success of a logistic company. Timing of a product delivery mostly fails due to miscommunications between the folks involved in this transportation. But with the technological advancements, each stage is now well connected with each other. Now companies can get details of each stage, such as packing, vehicle location, driver’s activity, delivery status, etc. Even it allows the customer to be in the loop and get informed about the product delivery status.

Inventory tracking and warehousing:

Now a day’s ecosystem of logistics is well connected and best benefit of this advancement is taken for inventory tracking and warehousing. As logistics company deals with countless commodities in a day so keeping an eye on each and every commodity is really a tough job. A small and inexpensive sensor with tracking capabilities allows the company to track each commodity every now and then. This advancement has helped Logistics Company to put an end on the thefts and commodity misplacement issues and has made the process simpler and swift.

Everyone says now world has become smaller, but that’s not the fact. Of course the size of globe is not affected buy even 1% but technology has pushed these boundaries very closer virtually and logistic industry is one of the greatest examples of narrowing the borders of globe. In you date back your memories to a decade or two back then you will find hardly goods were transporting from one place to another, an if you are willing to transport your goods far away to any other country then logistic costs were sky high. Now, with the technological advancement you can transport any commodity to any part of the world.

Advancement in the logistic industry:

As we all know there are a number of online shopping portals and even we never give a thought from where our ordered goods are being transported, just we are concerned about the delivery date, but there is long procedure running in the backend right after your order is placed and all thanks to the logistics industry who take an excellent care for packing and delivering right product to the right customer.

Logistics are being used right from the ancient times in one or other means but the real action of logistic industry with great advancements came into existence after the emergence of first online shopping portal, Amazon.

Tracking system:

Not just product delivery on time but there are many more advancements in the logistics industry. Once your order is placed then you can continuously keep an eye on your package. These days hardly any package missing cases are being faced by customers. Unlike previous days, customers are either getting any product online or have sent any commodity to another location, they continuously track the shipment of their product and before delivery they get complete information about the logistic guy which makes the transportation much more safer.

Present era is completely digitized and in this digital fast moving world supply chain is acting as the best possible way of communication for all those businesses which are related to production, distribution, consumption, etc. do you know when you order a commodity online or just parcel it from one destination another, the commodity goes through multiple hands to reach the right destination. And to reach the right destination at the right time, supply chain acts as the strongest pillar for the logistics sector.

Hence, most of the product oriented companies widely depends on supply chain management to operate efficiently and successfully and also it is one of the biggest part of a product based company consuming approx. 40-60% of revenue generated.

Asset or a loss:

As mentioned above, supply chain management of a company consumes approx. 40-60% of generate revenue then you might be taking it as a loss factor but if you calculate it correctly and conduct a survey over the product market then find top product based companies have the best logistics team and also are one of the major reason for their success.

Supply chain if managed proper then it is the biggest asset of a product based company  but if you failed to keep a keen eye over it then it may turn into the biggest reasons for your company failure.

How to manage your logistic section and supply chain?

If you are a product based company and willing to take maximum profit out of it then you need to step a foot back and think what can turn your team as an asset for your company. If you have already indulged a team for logistics then first you must run a thorough check, either you have appointment best team or not, if yes then how to take best and most productive work out of them.

Assigning right task to right person depending upon their capabilities is very crucial. Undoubtedly you have appointed the best team but always remember that every folk have their own quality which makes them stand out among the rest. So you need to understand those qualities before assigning work to them. These few points can definitely assist you to avail best benefits from your business and make it successful than ever before.