Warehousing is in dire need of a makeover. It has to meet the expected demands of the tech-savvy world. Blockchain technology, artificial intelligence, and predictive analytics can play a vital role in enriching the future of warehousing. According to a survey presented by the MHI Annual Industry Report, as many as 80% of respondents believe that the digital supply chain will be the industry’s dominant model within the next five years. For 20%, it is already the dominant model. It’s no doubt that digital transformation will bring a huge impact of change in the way warehouses to operate. A few years from now, this is what the aspects of warehouse technology will look like:
1. Real-Time Data Gathering and Increased Interconnectivity – The warehouse systems of the future will be anything but vague and opaque. Blockchain has a very vital role in achieving this level of transparency. Blockchain has the ability to distribute information promptly and securely, thus making real-time data exchange for warehouses efficient and transparent. “The Statista Research Department predicts that the global market for Internet of Things (IoT) will grow to around 1.6 trillion by 2025.”
2. Warehouse mobility solutions – A shift from desktops to mobiles and smartphones is a wonderful step in gaining warehouse efficiency. These device apps enable warehouse employees to work and access data on the go within as well as outside of the warehouse. Warehouse mobile solutions can deliver excellent operational efficiency.
3. Autonomous guided vehicles – These vehicles will transform the ways in which cargo is transported inside and outside the warehouse. According to Mordor Intelligence, the global automated guided vehicle market was worth USD 2.41 billion in 2020 and is projected to reach USD 14.18 billion by 2026. Drones are so expected to disrupt the warehouse industry. They are also considered as economical and safe as drones are equipped with sensors, cameras, barcode scanners, or RFID technology that can reach even the innermost spaces within a warehouse.
4. Smart analytics and machine learning – Warehouses are expected to make better use of the resources in hand and are expected to play a key role in increasing the customers’ satisfaction. Predictive analytics make use of statistical techniques such as predictive modeling, big data, and data mining to analyze historical trends and make predictions about the future. Predictive data along with artificial intelligence can be very effective for increasing the operational efficiency of the warehouse.
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