Logistics and supply chains are the backbones of the global economy. However, these industries have probably taken the worst setback compared to all the other industries in the pandemic. Despite this, the logistics and supply chain businesses are recovering at pace.
Logistics is also one of the most traditional businesses but it is still projected to grow at an average CAGR of 6.5%. According to a survey, the global logistics and supply chain business will be worth almost $13,000 billion dollars by 2027.
With the changing dynamics of the global economy and paradigm shift in human behaviour post-pandemic, logistics businesses are facing many challenges. The traditional operational ways are resulting in inefficiencies and losses. Old processes now are not compatible with the pace of the fast-moving world.
In this article, we have aimed to give you a detailed understanding of the key features & modules of the logistics software that can potentially solve all modern-day challenges.
The benefits of installing custom logistics software:
We have already published a detailed article on digital transformation opportunities in logistics. Give it a read to understand what areas can be touched and improved with the help of a logistics software solution for a logistics business.
To give you a brief idea about the benefits of the logistics software, here is a quick list of the benefits.
• Proper planning and execution
• Automating repetitive tasks
• High precision
• Integrated tracking solution
• Cost reduction and increase in profit margins
• Efficient route planning
• Proper warehouse & inventory management
Key modules of logistics software and their use cases:
1. Billing & Finance
Having a billing and finance module is necessary for any logistics software. The billing module enables you to keep a track of payments and invoices against all the deliveries and PO’s. This way saving hours of time in accounting and bookkeeping.
2. Shipment Tracking
Being able to get real-time data about the status of the shipment and the delivery vehicles is a boon for the logistics business. A lot can be planned and synchronized optimally if real-time tracking is enabled for shipments and delivery vehicles.
3. Route planning
Effective route planning means time saving and cost saving. Both of these can reduce costs and drive up the profit margin for any logistics business. AI enables route-planning algorithms to pick the best routes and focus on the optimal use of resources.
4. Analytics dashboard & business intelligence
A global analytics dashboard equips you with real-time insights across all the divisions and geography of your business. You can always keep a bird’s eye view of the organisation from any device on the go.
5. Warehouse & inventory management
A classic example of automating repetitive tasks to focus manpower on core business activities. Warehouse and inventory management modules keeps a track of multi-asset and object storage across all the warehouses.
6. Image recognition
Image recognition is used when having automated checkpoints while loading and unloading the logistics vehicles. Through image recognition, objects can be identified and counted for to keep a check on the deliveries and dispatches.
These are the main and most important modules in a logistics software solution.Some other modules like sales, customer management, automated query solving, and more are highly useful depending on the scale of your business.
If you are into the logistics business and want a customized software solution for your business then do contact us or visit our logistics software solutions page for more understanding of our offerings.
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