How digitization is transforming logistics and supply chain management

Logistics play a crucial role in supply chain management as it involves planning and management of goods and services, as well as information from source to destination. The traditional concepts or methods adopted by logistics service providers are inefficient in the current market scenario. This has led several logistics giants to adopt digitalization approach in their processes to boost their businesses. The global logistics industry comprises substantial number of industry-recognized players. These players are continually investing substantial revenues toward newer and advanced technologies with an aim to serve their customers in a better manner and efficiently manage their fleet and gain profits and customer trust.

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Impact of COVID-19 Pandemic on Digitization in Logistics Supply Chain Market

The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the count of infected patients has led governments to restrict the transportation of humans and goods. The manufacturing sector has witnessed severe losses due to the temporary shutdown of factories and low production volumes, which has had a negative impact on the logistics sector. Additionally, the social or physical distancing measures imposed by governments haveled the logistics service providers to limit their operations. However, the logistics and supply-chain industry playersare focusing on digital technologies to curb the negative effect of the pandemic on the logistics operations based on traditional logistics concepts. This is boosting the digitization in logistics supply chain market. Nonetheless, the lower volumes of production are limiting the full-fledged usage of the fleets, which is creating tremors on the logistics service providers' business, thereby leading to slower growth of digitization in logistics supply chain market.

The key companies operating in the digitization in logistics supply chain market include Accenture, Advnatech Co. Ltd., Cognizant, Capgemini SE, Hexaware Inc., IBM Corporation, Oracle Corporation, SAP SE, Tata Consulting Services Limited, and Wipro Ltd.