It is clear that our society is constantly changing. New technologies are integrated into everyday life almost without us even realizing. Economists believe that we are currently witnessing the fourth industrial revolution. It is likely that the effects of this revolution will spread to new areas of society in the years ahead. Jorge Zuñiga Blanco, an expert on international trade, gives insight into how technology can improve global trade and assist logistics.
Logistics is a sector that is constantly changing. It is also one of the most efficient fields for incorporating new technologies. This improves productivity and maximizes efficiency throughout the supply chain.
eCommerce is one example of the most significant innovations in logistics. Customers can shop anywhere and anytime with eCommerce. This presents a major challenge to the logistics industry. To meet the demand, they need to find ways to speed up delivery, have larger warehouses that can handle orders, and provide more sustainable transport options.
Another popular concept in society is big data. This refers to massive data processing and has undoubtedly a huge impact on the supply chain. Big Data allows us the ability to understand the tastes and preferences of our customers. This knowledge is then transferred to the supply chain, which has for some time prioritized consumer service over production.
Customers have become more demanding in a globalized world such as the one we live in. This is why it is important to understand our final consumers in detail to adjust the way we produce and distribute goods.
The Internet of Things (IoT) is a key component of the logistics industry. This allows us to see in real-time the status of goods, including temperature sensors and geolocation tracking systems. The IoT also allows companies to monitor and respond to any risks in the supply chain.
We cannot forget about the impact of the new technologies on professionals in the sector. Castillo explains that there have been two major changes. Zuñiga asserts, “Professionals had to adjust to the changing sector and adapt their jobs to meet new demands. To meet all the new challenges posed by new technologies, there have been new jobs and profiles created in the logistics sector.”
Evidence shows that new technologies have radically changed the logistics industry and will continue to do so over the next few years. It is clear that the logistics industry has evolved to be more efficient, transparent and secure in all phases. The use of new technologies has also allowed for improved planning and organization, as well as user experience.
We cannot forget to mention that the logistics sector is an important part of any country’s economy, particularly for its impact on imports and exports as well as domestic consumption. It must also evolve at the same rate as society.
Blockchain solutions are a decentralized system of digital transactions that can be used to reduce time spent on logistics and customs compliance. “The IoT,” adds Zuñiga, “which combines networking capabilities with everyday object processing, can improve operational efficiency by allowing for better preventive maintenance of products and machinery. These technologies can help reduce transportation and storage costs which make up a large portion of overall business expenses.”
The world’s trade can also be affected by digital technologies. Remote-controlled robotics, for example, has made it possible to make significant advances in trade in services as well as the creation of new services like telesurgery.
Technology advancements that make it easier to trade products can encourage trade in goods that are time-sensitive, contract-intensive and certification-intensive. If the conditions are right, digital commerce can be a powerful tool to increase trade in time-sensitive, certification- and contract-intensive goods.