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The importance of technology in industrial development

Estimated reading time: 2 mins

In the environment in which they develop logistics activities, rapidly changing and competitive, the need to offer the customer s service quality to achieve greater differentiation. The factor that forces companies in the sector to innovate constantly. New technologies are called to be the key that will modernize and transform supply chains. The current business models must evolve or they will be condemned to disappear. The reason is simple, mobile devices and new applications will change the logistics management models, leaving the current obsolete.

From Area Industrial & Logistic we would like to highlight a report carried out by the real estate services company CBRE, which analyzes the role of technology and innovation in the industrial and logistics field. We can emphasize that there are different technologies that the buildings that house these types of activities will have to take into account in the future. Electronic commerce will influence up to 50% in the final choice of the ship, being the key in the future. Although it will not be the only difference, the Internet of Things will affect up to 33%, fast delivery services by 7% or 3D printing by 5%.

The way in which innovation affects manufacturing and productivity of industrial and logistics models is obvious. First, there is a significant reduction in costs, but in addition, the quality of the supply chain and customer service are increased. Finally, it is estimated that innovation can improve the final quality of the product or service by 7% and 4% brand positioning.

All these advantages are taken into account by customers who want to acquire a ship for industrial or logistical use. Companies expect, in the same way, to improve their competitiveness by differentiating themselves from the competition. According to the data collected by CBRE, the time of commercialization is reduced by 58%, the production and supply expenses are reduced by 22%, greater personalization of the product is achieved, also improving the product’s reliability by 3%.

Undoubtedly, it seems evident that technology will play a key role in choosing the ideal location for the development of industrial and logistics activities. The companies in the sector will be forced to optimize their supply network, which will generate a certain tension between the concentration and the dispersion of the locations for the premises. One of the keys to success for these business models in the near future will be to reduce the shipping time of the products, which is why new value chains should appear.

What is Fintech?

The word ‘fintech’ is formed by two words ‘finance’ and ‘technology’ and is used to group a relatively recent movement. The concept encompasses a group of companies and ventures that arise when concepts of innovation are applied to the financial world.

Contrary to what many might think, the local financial ecosystem is quite ‘traditional’ and almost always avoids innovation.

The fintech is a fundamental space in the financial world; they are the laboratories where new forms are tested, in which the world moves economically.

Traditional companies have several problems that fintech ‘try to capitalize, such as the lack of coverage, the high cost of services and platforms, ubiquity, security, information analysis and the establishment of trust with users and there are many companies in fintech such as Thinking Capital.

In recent years, new payment mechanisms have appeared in the world, new ways of negotiating and new ‘digital goods’; normally behind every innovation, there is some responsible fintech entrepreneur.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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