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The corona virus crisis has unveiled the fragility of the modern supply chain logistics. Logistics firms, which are engaged in the movement, storage, and flow of goods, have been directly affected by the COVID-19 pandemic. Supply chain disruptions to the sector caused by the pandemic could, therefore, impact competitiveness, economic growth, and job creation.
The traditional approach to logistics often leaves environmental sustainability out of bounds during decision-making. On the other hand, the objective of green logistics is to find an effective balance and economy between ecology. While becoming greener and making contributions to the environment, it is also cost-efficient, increases customer loyalty, hikes growth, and is at the same time a well-set reason why talent signs up and wants to join the company. According to the Harvard Business Review, the businesses that are focused on sustainability grow almost 6 times faster than those who don’t. Green logistics seeks to measure the carbon footprint of supply chain logistics operations to establish a locus point that considers sustainability measures and controls their results as well.
Another area that has been emerging in Green logistics is the circular supply chain that is starting to replace the previous linear supply chain, those adopting the former approach stand to gain from reduced costs in the long term, reduced waste and reduced impact on the environment.
Awareness has been growing rapidly that supply chains need to be more flexible and agile so they can respond and adapt quickly to possible disruption. The obstacles coming forward by the pandemic, however, also provide a possibility for organizations to build a more resilient, flexible and agile supply chain logistic that is ready to stand firm against any future disruption and global crises. A resilient supply chain requires investment and businesses are starting to recognize this, with 57 per cent planning to increase their investment in improving supply chain resilience (According to a report from Capgemini Research Institute). On the other hand, organizations are investing in technologies that make supply chains logistics more self-governing and intelligent. Both of the aforementioned are the key enablers of resilience, allowing supply chains to sense and accommodate more quickly to changes or disruptions.
Besides, the development of IoT, Big data, 3D Printing, Predictive analytics and AI has enabled totally different levels of speed, transformation, and efficiency.
The growth of urban population and variation in consumer perception has boosted the demand for refrigerated storage and transport. The market for refrigerated/frozen products is increasingly growing. The act of distributing food products is rapidly shifting from conventional markets toward supermarkets and convenience stores. As major distributors offer shipping via insulated trucks, refrigerated and frozen products are easier to procure. To meet the global demand for refrigerated products, including foods, beverages, and pharmaceuticals, carriers, forwarders and OEMs need to get ready at the earliest. Research indicates that refrigerated shipping will experience fast growth in the next couple of years. Outside of key manufacturing centers in Europe and the US, the overall bio pharma demand is growing most strongly and these products therefore need to be transported via highly regulated and controlled freight methods. Trucks transporting the vaccines must keep them at a brisk -94°F. The cold chain is a huge challenge but the good news is that vaccine temperature, light exposure and location are continually monitored. As Pfizer’s president of global supply chain told The Wall Street Journal, “We actually know every moment in the journey.”
The changeover from four walls/ Omni-channel operation towards a pure play e-commerce has speeded up exponentially, driving the need to engage in a different order and fulfillment model. The tech scenario of the pre Covid-19 does not fit in this new normal. The main culprit is the lack of collaborative tech tools missing out in building ecosystems across data systems. It is assumed that organizations that have been open to collaboration will be the winners in 2021 and the year to come.
A thinking that focuses on engaging product development, manufacturing and marketing rather than execution as the competitive edge will be the recipe going forward.
"Simplicity is about subtracting the obvious and adding the meaningful."
Despite the pandemic hovering round above us, the world is seeing a massive development around 5G, the deployment of 5G and its uses are widespread. As we know it by the end of this decade, 5G will have changed the business landscape. The full potential of IoT (Internet of Things) to track inventory will finally be unleashed under 5G. 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, cargo can be fitted 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 supply chain logistics industry. Logistics companies than any other business relies on 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. The collaborative potency alone for using 5G to keep numerous vendors and partners on the same page, in real-time is an inherent capacity itself.