Question

Discuss the future challenges and opportunities in logistics management.

I want a discuss long and professional answer

Answer 1

Explanation:

Future challenges to logistics

- Fuel Cost:

The most important things that need to get understand for the logistics industry needs is to consider rising fossil fuel charges and limited supply of it. This is the most crucial challenge that companies need to take in consideration while aligning business sustainability in the near future.

- environmental issues:

Fossil fuel is the issue that companies need to think as it also gives rise to environmental issues of climate changes as most of the fuel used in the world is being done by commercial vehicles and the problem of emission is huge issues.

- Manpower retention.

Another big challenge in logistic facing is that driver and related manpower do not stick to one company and tend to change companies frequently for the hike in salary or mismanagement by their superiors, this issue needs to be solved at the greater extent in this industry.

Technology implementation:

The logistics industry requires technological update implementation more than any industry needs now. It is also a challenge for experts how they will implement in this.

Opportunities in logistics:

Artificial intelligence:

Artificial intelligence has been implemented in the logistics industry at the testing base with no-man vehicles. Many companies have tried this and have a greater result in implementing this. The time is near in future when trucks will be run by pre-defined navigation system which will be fully automatic and controlled by remote by men and there will be no need of a human driver and fewer possibilities of accidents due to human errors.

- Digitalization of logistics is the one opportunity that has been untouched by the industry. Use of latest technology is limited in logistics.

- Focus on risk management.

Companies need to manage and consider risk in the logistics industry to avoid undesirable events happened from time to time. There is a lots of risk in this industry and companies are not taking it seriously enough.