The supply chain has become the leading concept for the top 10 logistics companies in India. It is the 21st century and consumers are highly dependent on the supply chain for everything they do. From the groceries they purchase to the gas they use for the car or gifts they purchase for the holidays.
Although the previous two years have been a leading disruption for the supply chain that became a headache for both businesses and consumers, it is not at all gloom or doom. In 2022, people have pointed out the issues and made clear how significant the evolution of the supply chain is. It has led to creating some of the next big things encountered by logistics and supply chain companies in India in 2022.
Next Big Thing in Logistics and Supply Chain Management
Increased Use of Technology and Digitization
During the pandemic, transport services India witnessed a significant rise in cloud technology. The industry will be expected to be worth 1250 billion dollars by 2028. People adopting digitization have even enabled an end-to-end overview of the supply chain, which is not only helping them in building transparency but also in forecasting disruptions. This way, stakeholders will be able to make decisions immediately by just looking at the real-time insights. Businesses are expecting a sudden change in this industry because of utilizing modern technologies. From smart warehousing in India to smart shipping, every channel is using the Internet of Things (IoT), Artificial Intelligence, data analytics, etc. Therefore, businesses will be able to enjoy the benefits of improved visibility, real-time updates, and smart container tracking.
Increase In Tech-Enabled Procurement
After restrictions are imposed on Covid-related travels, traveling to the source as a standard procurement process is ceased. This led to the increase in tech-enabled sourcing. With technologies like Augmented or Virtual Reality, AI, and Blockchain. Evolving every day, remote sourcing has become more dominant.
The Drone Rule imposed by India in 2021 has been a leading point in paving the way for faster deliveries, smoother logistics, and a substantial reduction in carbon emission. Drones are easing out last-mile delivery. HL-150, the first made in India Heavy-lift drone could redefine the logistics and supply chain companies in India since it is anticipated that this drone can transport 150 kilograms of cargo over a distance of 150 kilometres effortlessly. Therefore, the package that is taking 72 hours for delivery will now be delivered in just 8 to 12 hours.
Growing Small-Sized Retailers
Smaller retailers will exercise greater control over the global retail sector because of the shift in the power of the global retail sector in favor of third-party e-commerce platforms. Small and medium-sized resellers will become a dominant industry and this will involve a global shift in offering from traditional outsourcing professionals to independent or freelance procurement professionals who will work with multiple buyers of shared procurement resources.
Smart Supply Chain Planning Based On the Climate
It is estimated that ninety percent of millennial pay more for sustainably made products. Therefore, to become more environmentally conscious, companies will increasingly adopt decarbonisation strategies and push towards greener business solutions. Environmentally friendly transportation is increasing, with the global electric truck market expected to reach $1,893.1 million by 2027. Two and three-wheeled electric vehicles and light commercial vehicles are growing in popularity.
Therefore, from building smarter warehousing in India with energy-efficient systems to creating greener cold supply chains, solar units, and temperature control, it will integrate the logistics industry and the supply chain of smart and environmentally friendly systems into its operations.