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In today’s fast-paced, hyper-competitive, omni-channel world, warehouses play a critical role in maximizing service and fulfilling the ambitious customer promises that are required today. Warehouses also represent an enormous cost center. Volatile demand means warehouses need to pivot quickly when order volumes change.
Kudos to the supply chain and logistics teams that have already adopted transportation management systems (TMS), warehouse management systems (WMS), and other digital solutions. It is not surprising that the TMS market will nearly double in size between 2024 and 2029, increasing from $11.75 billion to $23.07 billion in 2023 to $13.3
Around the world, e-commerce accounted for 17% of all retail sales last year and that number is expected to rise to 21% by 2029. In the case of product returns which amounted to a staggering $890 billion in 2024 the warehouse needs to move with lightning speed and precision to capture the resale opportunity and minimize waste.
The Digi-Smart manufacturing process empowers enterprises to gain control of their warehouses and ensures that products can be delivered to customers as quickly as possible. This wave of change has made warehouses smarter and more agile. Some experts say that within five years high-performance warehouses will be fully autonomous.
The perception of the logistics profession as an operative work e.g. warehouse picker or truck driver resulted in completely overlooking logistics and supply chain by next generations and new graduates. They are expected to retire between now and 2029 creating a big gap of skilled logistics professionals. This is no longer sufficient.
My previous blog post focused on defining what a Warehouse Execution System (WES) is, as well as the benefits this solution delivers for retailers, manufacturers and logistics services providers (LSPs). Joe recently joined me for a LinkedIn Live event called “Warehouse Execution System: A New Competitive Imperative.”
billion by 2029. Analyze Existing Processes Review your warehouse procedures to identify areas of inefficiency: Inventory turnover Stock control Demand forecasting Reorder points Safety stock Customer demand vs current inventory levels Material handling processes Then look for areas where your inventory management process can improve.
Supply chain operations such as distribution and warehousing will also use this approach facilitated by companies such as Uberfreight and DHL. A supply chain analyst wrote in 2019 that by 2029, the only economy will be the circular economy. But it is not just talent which will be outsourced in the Gig economy.
The Omni-channel and warehouse management systems market survey includes a brief idea about the organization. It gives the vision to shape the insight of the business in a better way and understand the factors related to the success of such a business model using the Omni-channel and warehouse management system is a great way.
Some of these events will not likely occur in the next year, as I’ve tried to extend these predictions and recommendations for managers out to a timeline spanning 2020-2029, (which also gives me a bit of room for error).
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