Embracing technology-driven logistics innovations may significantly increase operational efficiency and transparency. It transforms an existing business from its traditional paradigm into a proactive business model. Global supply chains are developing with new-age logistics management systems that place greater emphasis on customer-centricity and sustainability.

Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Fleet management, and telematics solutions allow organizations to stay up with brimming competition and increase productivity. Advanced supply chain operations and traceability are critical for enabling flexible and dynamic relationships between various stakeholders. They give real-time data and unmatched transparency across the supply chain system, allowing businesses to make better decisions and consumer experience.

Adoption of Fleet Management
Fleet management is an invincible part of the logistics industry. According to the Markets and Markets report, global fleet management size is estimated to grow from $ 20.6 billion in 2021 to $ 33.9 billion by 2026.

With the advent of new technology, massive changes are being experienced in the fleet management system. Companies can reduce and minimize the overall costs by full utilization of resources such as vehicles, fuel, spare parts, etc., and eliminate the risk associated with vehicle investment while increasing service quality to the customers. As a result, operational efficiency gets boosted and tracking and management of fleets become seamless.

Furthermore, fleet management software aids in the control of insurance costs by adopting enhanced road safety solutions, which further aid in the reduction of accident rates and thus lowering the cost of insurance.

Internet of Things(IoT)
IoT has proven to be a significant technical intervention in the logistics business. It provides transparency at every stage of the supply chain, as well as inventory management efficiency, transparency, condition monitoring, on-time visibility of items, and fleet management.

IoT can improvise operational efficiency in logistics by eliminating the shortcomings of delays in transportation, poor monitoring of vehicles, operator errors, etc. With Location Management System (LMS), IoT can help in tracking and monitoring vehicles or other assets that can provide transparency to the customers.

Artificial Intelligence(AI)& Machine Learning (ML)
Artificial intelligence, advanced analytics, machine learning, and automation are examples of new-age digital advancements in logistics. AI combined with machine learning supports companies to be proactive in dealing with demand fluctuations. For example, forecasting

solutions based on AI assist managers in planning supply chain activities and lowering operational expenses. Smart road technology and self-driving AI are generating a positive change toward delivery service automation. Furthermore, AI-based cognitive automation technique adds intelligence to administrative tasks while ramping up information-intensive activities.

According To The Markets and markets Report, Global Fleet Management Size Is Estimated To Grow From $20.6 Billion In 2021 To $33.9 Billion By 2026

Telematics Solutions
Earlier, the main obstacle to managing vehicle usage in logistics and the supply chain was to track information like its location, activity, engine diagnostics, and driver behavior. With the development of telematics technology, it has become possible to gather this wide range of information on a single platform and visualize the entire picture of one vehicle or an entire fleet allowing fleet operators complete control of the entire operation remotely along with better resource management.

One of the key features of telematics solutions in global supply chain management is evaluating processes. It substantially reduces the time needed to complete various logistics activities. Thus, flexibility within the supply chain increases, avoiding any kind of backlog in the process.

Increase Visibility and Asset Security
Fleet vehicles carry a substantial quantity of sensitive data that must be protected. As a result, fleet managers must prioritise enhancing their cybersecurity measures. Several fleet managers are moving their attention from tactical to strategic management and upskilling in IT to take on newer roles. With the increased data visibility, the focus is shifting to data collection and its evaluation.
The in-vehicle and edge-based solutions help extract information and provide advanced analytics around speed, accuracy, and security in real-time. It increases visibility and asset security and provides drivers and passengers with new ways to stay connected, inside and around the vehicle.

Transportation Management Systems (TMS)
The TMS platform may help businesses and organizations. A TMS can easily interface with order management systems (OMS), enterprise resource planning (ERP), and warehouse management systems (WMS). All three systems are essential for a company to take customer orders and then move them through the supply chain as quickly as possible while monitoring and tracking the progress from the initial order to final customer delivery.

TMS connects all major business platforms by providing an end-to-end logistics and supply chain optimization strategy. It tightens the internal and external systems up to a point that makes the TMS a vital hub for all supply chain tactical and strategic moves.

With customer expectations continuously rising, and as interests shift towards product variety and personalized services, the logistics and supply chain sectors face mounting pressures. Having said that, there is also no denying that the companies in the logistics industry enjoy many benefits from adopting tech driven solutions. These solutions target at creating a rich, customer first approach that leads to profitability in the long run.