There are many areas of investment for logistics firms to consider as they grow and their technology needs change. With this in mind, executives may want to consider a wide variety of ways in which they can improve efficiency in the warehouse and throughout the supply chain, including investment not only in warehouse management software but also more traditional physical equipment. Making the right decisions after a careful selection process can yield impressive results.
One area where logistics companies often spend a lot of money is when it comes to electricity and heating bills, according to Logistics and Materials Handling. After all, it takes a lot of resources to keep massive facilities, sometimes measuring hundreds of thousands of square feet, well-lit and temperature-controlled all year long, especially because a lot of these buildings are in operation 24 hours a day, seven days a week.
With this in mind, one of the first areas of investment experts say logistics execs should consider is in energy efficiency, such as by installing new doors and windows in the facility.
What about the overall supply chain?
In addition, many companies are now investing in ways to more effectively automate operations along the supply chain, according to Global Trade. The more opportunities companies have to boost efficiency with data-based decisions and a streamlined process, the better off both they and their customers or clients are likely to be as time goes on and the technology proliferates.
“It is essential that the United States remain at the forefront of developing automation technologies to maintain the competitiveness of both the industries that produce technology and the industries that use it,” Joe Kennedy, senior fellow at the Information Technology and Innovation Foundation, told the site. “Automation will also increase productivity and living standards, benefiting consumers across the country.”
Getting over the hump
However, data suggests that these efforts aren’t always easy. A recent poll of industry insiders, conducted by SOTI and Arlington Research, found that 70 percent of CEOs in the industry say they aren’t quite sure how they could effectively integrate handheld mobile devices that can help boost worker efficiency. To that end, nearly 1 in 3 companies have not yet invested in mobile technology of any kind, despite nearly half of workers expressing concerns about how much downtime they have in their day-to-day jobs.
The good news for many logistics firms is that 69 percent of workers surveyed said they felt their companies were adequately investing in mobile devices and software that will help them get ahead in the field.
To that end, experts believe that it’s important for companies to put in the legwork to determine what their needs may be in terms of cost or operational efficiency, and find the best possible path forward with the technology available. Those executives who can do so effectively in this time of more significant adoption may be able to help their companies gain an edge on their ever-increasing competition.