The sweeping changes brought about by the digital revolution on the logistics industry is particularly intense, especially when considering the radical effect that a global pandemic and geopolitical conflict have had on supply chains worldwide over the past three years.
So what’s ahead in 2023? There are a number of keywords cropping up across the board:
Keeping chains intact and resilient is of paramount importance.
Sustainability, too, is at the top of the agenda, as increased transparency.
All of these trends are facilitated overwhelmingly by increasing application of automated solutions — in fact, the global logistics automation market size is projected to grow from USD 48.4 billion in 2020 to USD 88.9 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.6%.
The key to future proofing this growing industry and reconciling it with the environment,
without losing profitability, lies in technology.
OPTIMISATION THROUGH AUTOMATION
Adopting digital approaches and staying on top of evolving technology is a no-brainer, and something that is key to the COREX Logistics ethos. Through experience, we’ve found that using automated solutions can:
AUTOMATION IN ACTION
At COREX, a 21% increase in our work processes since leaning in more heavily to the use of technology is clear evidence that it’s the right direction to follow — and we’re keen to go even further. What’s worked for us so far, however? Here’s just three ways in which digitization works to our advantage.
Error Warning System and GPS real-time cargo tracking
We use smart technology to keep an eye on our deliveries at every stage of their journey. Our cargo, transported in specialised thermal containers, is monitored using thermologgers which will show any temperature deviations during transportation and storage. Using GPS tracking software, our team can watch developments in real time and receive an instant warning should the cargo be compromised in any way, at any stage of the process. At all times, we know where our deliveries are, how long they’ll take to get to their destination and the condition they’re in. We keep our finger on the pulse so that our deliveries arrive on time, in top quality, without failure.
Routine Process Automation
A blend of robotics, machine learning and AI takes care of those everyday tasks that may be mundane in nature, but vital. It’s work that can be time-consuming and susceptible to human error along with customer interactions that require instant responses.
Our ‘automated colleagues’ take care of this.
Using barcode systems such as handheld scanners, they automate data collection efficiently and constantly and our robotic notification system keeps everyone in the loop 24/7. Automating these systems also reduces the risk of mistakes, stores information in a central and accessible location and creates advanced analytics which help in the future with predicting responses to any situation.
To help foster strong client relationships, our digital ecosystem incorporates the client throughout the process and in that way we ensure transparency and open ourselves up to welcome feedback. User-friendly mobile apps for couriers and API integration are just two of the ways that we ensure client convenience. Our customer portal:
Enables clients to create shipments online and track them easily
Enables better handling of document exchanges
Keeps control of inventory in our warehouses
Facilitates creation of a blockchain of accessible custom reports
Keeps everyone in the loop with customizable automatic notifications
CHANGING HOW WE WORK
Is automation changing work as we know it? Yes — and for the better. There is understandable fear and reluctance out there to embrace the digital revolution — a 2021 PWC survey found that 61% of people believe that automation puts jobs at risk — in reality, it’s not removing opportunities, it’s redefining roles.
It’s redefining results too — for example, following the volatility of the past few years, using AI and machine learning to predict disruptions and blockages is essential. Figures from artificial intelligence and machine learning company Dataiku, show that companies who have deployed predictive analytics for this purpose have benefited from predicted accuracy of 90% and a consequent 50% reduction in blockages.
So what’s next? Although still at research and trial stages, self-driving vehicles will be one of the next big things. In addition to the importance of Big Data, robotics will become even more prevalent, digitization will lead to less energy consumption, more energy efficiency and greener logistics overall.
Automation isn’t a one-change-and-it’s-done event — it requires constant improvement and adaptation. At COREX, we’re already benefitting from the tech we use now and excited about the innovation and change that’s yet to come. We can’t wait to further optimise our logistics processes, see how far tech can take us and continue to use it to make sure that we’re providing our clients with the highest quality services.
COREX Logistics is a supply and logistics company with headquarters in Ireland, working with pharma and patients to facilitate improved healthcare worldwide.
Our expert international team works across an 80-country network, specialising in the EMEA region, providing the latest in clinical trial logistics technology and systems, cold-chain delivery, temperature-controlled transportation and storage services. From sourcing, procurement and customs clearance, to labelling, returns and destruction, we cover every link in the supply chain. We also run an established Named Patient Programme and provide Patient-Oriented services. With extensive knowledge and on-the-ground insight into our markets, we create innovative solutions with the ultimate goal of improving the lives of patients.