24 Aug Answer the student response to the question in 150 wo
Answer the student response to the question in 150 words and provide 1 reference
question
What do you think will be some of the most important innovations in logistics over the next ten years? As you identify these large innovations, discuss how they will affect your company’s products or another company that you know of.
student response
Some of the most important innovations in logistics will revolve around driverless vehicles (particularly tractor trailers), automated warehouse/robots, and AI for inventory management. First, driverless tractor trailers have already been making deliveries in the past few years. This evolution in transport is huge, especially considering the national driver shortage for years. Companies can optimize the amount of trailers needed without the same restrictions of rest periods for tractor trailer driver. (I am sure some parameters will be put in place for maintenance). This will revolutionize safety and efficiency in the transportation industry. The next innovation will be automated robots in the warehouse. Many companies have already adopted this including Amazon as the most notorious. I worked for a company the had LGV’s (Laser Guided Vehicles @ $1million each) that could take product off the line, palletize it, and put it away. The return on investment is there in just a few years over a human labor force of 3 employees. Automation in warehousing will be the normal I believe most companies in the next 50 years. Lastly, Artificial Intelligence in Inventory Management. The predictive analytics that can be provided through AI will revolutionize how lean an organization can get. It will also improve the entire supply chain’s efficiency through material management and reducing waste.
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