A third of logistics companies in the Asia Pacific (APAC) region are considering IoT (37%), warehouse automation (33%), and electric vehicles (32%) as key investment priorities in the next two years, reveals a new research by HERE Technologies, a leading location data, and technology platform.
Over half of the logistics companies are also leveraging map-based solutions with real-time location data for fleet tracking. Conducted in partnership with global consulting firm, Frost & Sullivan, ‘The State of Movement’ white paper surveyed 152 logistics companies in six key countries in APAC: Australia, India, Indonesia, Japan, Singapore, and Thailand.
COVID-19 has disrupted, and revealed vulnerabilities in supply chains, putting logistics companies still relying on traditional systems at a disadvantage. With multiple moving parts within the supply chain, these companies are exploring connected systems and vehicles to improve their fleets, asset tracking, and shipment monitoring.
While GPS (77%), RFID (31%), and QR codes (20%) are commonly used in fleet management, IoT is swiftly gaining popularity with 21% of respondents having adopted it. Two out of five logistics companies will be implementing IoT solutions across all assets over the next two years.
Combining IoT with location data and location-based services can help logistics companies achieve real-time tracking. With this, companies can reduce issues and misplacement of assets while improving operational efficiency. This is especially important for condition-sensitive shipments such as cold chain items and dangerous goods
Logistics companies are moving beyond traditional methods of route planning as the APAC region continues to feel the effects of COVID-19. Real-time events that happen daily can impact route planning and delivery times. Companies are considering logistics service delivery and asset tracking solutions to tackle these challenges.
“Our white paper shows that in today’s connected world, optimizing your supply chain is critical. Only companies that invest in digital technologies to achieve end-to-end visibility will succeed,” said Jason Jameson, SVP and General Manager, APAC, HERE Technologies.
He further said, “By leveraging map-based solutions with real-time location data, companies will see benefits to their fleet management and shipment monitoring. Coupled with IoT and by using to bring everything together, companies will find themselves well-placed to be at the forefront of the logistics industry.”
“Digital disruption is taking place in the logistics industry, and traditional approaches will no longer work. This white paper demonstrates that companies in Asia Pacific are welcoming future technologies to help them build resilient and efficient supply chains and drive their business forward,” said Janesh Janardhanan, Practice Area Leader – Asia Pacific, Supply Chain & Logistics, Frost & Sullivan.