The logistics industry has proven to be resilient amidst the challenges brought by the Covid-19 pandemic. However, there is still a danger for companies that fail to keep up with technological advancements. In the next decade, those organizations that adopt technology more quickly will have a significant competitive advantage over those that do not, affecting logistics companies, seaports, airports, airlines, retailers, and ecommerce brands.
As major trends enter the marketplace, it is essential to focus on opportunities rather than getting distracted by noise. Instead of starting with technology and then looking for applications, businesses should identify the biggest challenges and opportunities and determine how to improve them. For instance, concentrating on returns and reverse logistics can help companies become more sustainable and profitable while providing a better customer experience.
To maximize the benefits of technological advancements in predicting returns, businesses can utilize AI and data analytics. By identifying the most significant opportunity first, companies can develop projects aimed at improving their return prediction capabilities. With this approach, businesses can achieve greater sustainability while enhancing their profitability and consumer experience.