With the e-commerce market steadily growing, it’s no surprise that investment in logistics software is also on the rise. In a recent interview with Logistics Insight, a leading giver of supply chain solutions, it was found that the biggest factor driving investment in this technology is e-commerce. Financial institutions have witnessed major growth over the last few years and expect to see even more as new clients continue to join their ranks. They’ve recently launched an online platform where people can get access to loans for their business and expect to see even more loan requests in the future.
Technology and the less-than-transparent world of banking
The expansion of e-commerce means that a supply chain specialist like me often need to talk to peers in markets far away in faraway places like Houston or Beijing. Our processes might be on one side of the globe, but the needs of our clients are not. Furthermore, the lack of transparency in the supply chain is a major barrier to growth and growth in turn means expansion and evolution of technology in a way that matches those needs. This poses a number of challenges to banks, namely regulatory and reporting issues, but also more subtle challenges that are hard to even realize or articulate: problems that do not always reach the surface, but seem to be ingrained in the logic and functioning of our businesses.
Trends in the industry
In recent years, e-commerce has given rise to the emergence of a new breed of logistics software providers who are targeting niche sectors with specialized needs, such as special industries. Supply-chain companies are also taking advantage of the flexibility that cloud-based technology affords, leading to a constant upgrading of their offerings and processes. This is particularly true of the complex tasks associated with managing complex logistics.
By providing real-time data-driven insights, AI helps e-tailers identify opportunities to bring down costs, optimize shipments and cut inventory storage time. Innovative technologies like those being developed by G3 Global Logistics (G3), a supply-chain software and technology services provider, promise to significantly reduce costs and boost efficiency for the logistics sector, and much of this will be driven by demand from the retail sector.