Modern logistic technological trends -main drivers in the global industry

Arsova, Monika (2021) Modern logistic technological trends -main drivers in the global industry. Knowledge – International Journal, 46 (1). ISSN 2545-4439

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Abstract

Modern technological trends as a concept of every living and working environment imposes major changes in companies, which must include in their operations strategies that would be in step with the changed everyday life. The process of globalization changes is naturally a continuation of the development of science, modern technologies, markets, societies, etc. This extension allows the free movement of products, capital, labor, information. The new dynamics of international trade in goods, services, capital and technology creates a growing interdependence of countries, which contributes to the movement of production and market opportunities. The growing market globalization, increasing global competition, and more complex products results application of new technologies, methods and business processes. Fast changing market environment and fluctuating customer demands require efficient operation of logistical processes. The main goal of globalization is profit, then creating new markets, conquering new markets, finding new and cheaper raw materials, reducing operational risk, domination of international markets by multinational companies. Transport and logistics companies are also part of this change that is happening every day around us. Logistics play a key role in the economy in two important ways. First, logistics is one of the biggest costs for a business, hence it is affected and it affects other economic activities. Second, logistics supports the movement and flow of many economic transactions; it plays an important role in the sale of all goods and services.Logistics is a fast growing industry that has an impact and offers solutions in other areas, ie there is synergy with other industries.It implies conditionality and connection with other sectors–industries. Looking at the bigger picture, it can be said that logistics companies perform three key activities: order processing; inventory management; freight transport. All these activities are interrelated and interact with each other.There can be no changes in one of them without affecting the others. The performance of all these activities changes from day to day, because the environment and all the changes in the market affect them.In the literature and practice, there are several trends that are caused by globalization and have a great impact on the work of the modern logistics company. The first and most important market trends are automation and robotization. Leading trends that have created the basis for creating and applying all other trends that help large logistics companies. The most important trends that have an impact on the logistics industry are: the Internet of Things; artificial intelligence; blockchain technology. All these and many more trends in logistics affect its improvement and helping to provide quality services.These trends cost companies a lot, ie the financial resources that need to be set aside to appropriate these benefits and innovations are huge. Emerging trends form the path that modern logistics companies need to take to survive in international markets. The logistics company will improve its performance. It stems from the ability to improve many aspects of operations such as: sustainability, flexibility, compliance, multichannel resources, partnership. trends that have their roots in globalization actually help to create different tools (instruments) that are used every day in logistics.

Keywords: global competition; quality services; new technologies; economic activities

Item Type:	Article
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Economics
Depositing User:	Monika Arsova
Date Deposited:	27 Aug 2021 06:29
Last Modified:	27 Aug 2021 06:29
URI:	https://eprints.ugd.edu.mk/id/eprint/28365

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