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LNG: Alternative Fuel for Your Business? 

global trade lng fuel

LNG: Alternative Fuel for Your Business? 

In an era dominated by discussions around electric and hydrogen-fueled vehicles, fleet managers and business owners find themselves at the crossroads of deciding on the most efficient and sustainable fuel option for their operations. 

Read also: AI Power Surge Fuels Demand for US Natural Gas

 Among the above mentioned, there’s another contender making waves on the market – Liquefied Natural Gas (LNG).  

Joost Jansen, Business Development Manager, at Dover Fueling Solutions® (DFS) commented: “Ultimately, consumers seek energy that is affordable, reliable and environmentally friendly. LNG meets these criteria, and its competitive costs make it a promising choice for commercial transportation.” 

DFS takes a closer look at LNG as a compelling alternative fuel and delves into its environmental, cost, and business impacts to determine if it could be the perfect solution for your fleet fueling business. 

Environmental impact 

As the continent transitions towards Net-Zero, buyers and governments are now refocusing their efforts on lowering CO2 emissions to meet decarbonization goals. 

LNG is a natural gas that has been reduced to a liquid state through a process of cooling, and it is the cleanest fossil fuel, as it produces 40% less carbon dioxide than coal and 30% less than oil. 

Its primary component is methane (85-89%), which releases fewer pollutants during combustion, making it a sustainable choice that improves air quality. 

Another key player on the market is Bio-LNG, which emits 85% less CO2 than diesel and is a key solution in minimizing emissions from the heavy goods vehicle (HGV) sector. 

LNG manufacturing has another advantage in the race to net zero. During the production of LNG, Boil-Off Gas (BOG), which causes the pressure inside the LNG storage tank to rise, is continuously evaporated. However, venting BOG into the atmosphere is extremely dangerous and will become illegal as part of the Europe (Green) Deal. In order to rectify this, Gasrec implemented DFS’ patented LIQAL BTU Boil-off Gas Treatment Unit that converts BOG back into liquid form, avoiding venting and preserving LNG stock, thus reducing losses – both financial and environmental. 

Moreover, the LIQAL BTU system offers unlimited holding time for LNG with no need for active management of LNG tank storage pressure, posing a significant opportunity for the reduction of costs. 

A cost-effective solution 

Fuel poverty is a real problem, so providing affordable energy is critical. LNG emerges as a cost-efficient solution, thanks to the ample supply of natural gas resources and the steadiness of its prices, in contrast to the fluctuations observed in the oil market.  

During the first half of 2023, LNG imports in Europe were predominantly led by nations in East Asia and Europe. China, Japan, and South Korea emerged as the top three global importers, followed by the UK, France, and Spain, where the majority of European regasification capacity is housed. 

Access to a diversity of suppliers can not only reduce prices but can also give us the flexibility to move to more reliable shippers or avoid geopolitically sensitive markets. 

The affordability of vehicles powered by LNG is on the rise, supported by an expanding infrastructure catering to the specific fueling requirements of fleets. 

Furthermore, LNG engines typically incur lower maintenance costs, yielding long-term savings for businesses. Unlike electric vehicles, which often demand substantial upfront investments in charging infrastructure, LNG presents a more gradual transition without the necessity for a massive initial financial commitment. 

A recent study has highlighted the effects of ongoing advancements in liquefaction and shipping technologies on the reduction in production, transportation, and regasification costs, fueling the swift expansion of the global LNG industry. The purification and liquefaction costs of natural gas have seen a decrease of 35%–50%, while the transportation cost per unit of LNG has declined by 40%, making LNG a price-competitive solution for today and for the future. 

“Businesses have the opportunity to invest in LNG fuel dispensers that provide truck drivers with an intuitive refueling experience and exceptional uptime. When paired with the LIQAL BTU Boil-off Gas Treatment Unit to ensure consistent performance, businesses can upgrade their fuel sites with a low total cost of ownership (TCO) while embracing the latest clean fuel technology,” commented Joost Jansen, Business Development Manager at DFS. 

Positive business impact 

Transitioning to LNG can positively impact businesses in several ways. Firstly, LNG engines often boast a longer lifespan than traditional diesel engines, enhancing the overall durability of a fleet. The gas is also readily available, with a growing network of LNG refueling stations worldwide, ensuring  operations are less likley to face disruptions due to fuel shortages. 

“LNG infrastructure may be embryonic, but it is fast growing. There are around 635 LNG stations on the continent, with the bulk concentrated in Western Europe, and its cost-competitive benefits means it has strong potential for commercial transport,” said Lise-Lotte Nordholm, vice president and general manager of clean energy and global platforms at DFS, in an interview for Fuel Oil News

According to the latest statistics, the majority of LNG stations in Europe are in Germany (128), followed by Italy (125) and Spain (88). 

LNG is especially well-suited for long-distance road freight transport, given the limited availability of alternatives to diesel in this case. Moreover, its familiar refueling method should appeal to drivers. With the emergence of reliable and convenient refueling units, such as the compact LIQAL LNG Mobile Refueling Unit (MRU) that Gasrec incorporated to suit numerous locations, it becomes easier for fuel retailers to implement clean energies with minimal work or additional costs – this can even be in addition to conventional fuel dispensers at larger service stations, to cover a multitude of drivers.

Increasing demand for LNG as a ‘transitional fuel’   

As the EU transitions towards its intermediate target of a 55% reduction of net-emissions by 2030, ‘transitional fuels’ will likely play a big part in everything from long haul transport to powering our home deliveries.  

A transitional fuel, in contrast to conventional fuels such as oil-derived petrol and diesel, are any types of fuels which contribute to FIT reduction targets. As the cleanest of all fossil fuels, natural gas is the cleanest burning of all transitional fuels and emits significantly less CO2 than its traditional counterparts.  

In comparison to other clean energy sources such as EV, LNG requires minimum investment in infrastructure, which means it’s a perfect bridge until the world transitions to a fully emissions-free society.  

LNG, especially BioLNG, is not only a cost-effective solution, but it also has the ability to reduce emissions, and that’s highly attractive to the heavy-duty transport industry and other adjacent carbon-intensive sectors. 

According to the European Commission, LNG development into a global commodity can improve the security of energy supply in general by boosting the use of natural gas as fuel for transport. LNG provides a long-term solution, as The International Energy Agency predicts  there are enough resources to last 230 years if consumption remains at current levels. 

Conclusion 

“With its environmental advantages, cost-effectiveness, and positive business impacts, LNG is on the way to becoming one of the most in-demand fuels globally for heavy-duty transport. It can contribute to future energy security measures and facilitate the worldwide transition to decarbonize major carbon-emitting economies. We’re witnessing the evolution of the consumer experience in fueling and convenience retail,” concluded Joost Jansen, Business Development Manager at DFS. 

Sources 

https://www.doverfuelingsolutions.com/customersuccess/the-liqal-%7C-dfs-boil-off-gas-management-solution 

https://www.cornwall-insight.com/wp-content/uploads/2023/10/The-shifting-sands-of-Liquified-Natural-Gas-in-Europe-Oct-2023.pdf?utm_source=website&utm_medium=website#:~:text=The%20role%20of%20LNG%20in%20decarbonisation&text=LNG%20produces%2040%25%20less%20CO2,harmful%20to%20the%20earth’s%20atmosphere

https://fueloilnews.co.uk/2023/09/greening-the-sector-dover-fueling-solutions-considers-the-future-for-fuels/ 

https://www.statista.com/statistics/1251785/number-of-lng-refueling-stations-in-europe-by-country/ 

https://www.doverfuelingsolutions.com/customersuccess/reliable-bio-lng-refueling-for-gasrec 

https://alternative-fuels-observatory.ec.europa.eu/general-information/alternative-fuels 

 

global trade retail

AI in Retail Market: Enhancing Personalization and Efficiency in Retail

Introduction

AI in retail refers to the use of artificial intelligence technologies to improve various aspects of the retail business, from supply chain management to customer service. This technology is increasingly becoming a game-changer in the retail industry, offering businesses new ways to meet customer demands and streamline operations.

Read also: The Future of Retail Logistics: Trends and Predictions 

The AI in retail market is experiencing significant growth due to several factors. Retailers are increasingly using AI to understand customer preferences better, manage inventory more efficiently, and enhance the overall shopping experience. AI technologies like machine learning and data analytics are pivotal in helping retailers forecast trends, optimize pricing, and improve customer service through chatbots and personalized recommendations.

Another growth factor is the need for efficient inventory management and supply chain optimization. AI algorithms can analyze historical sales data, market trends, and external factors to forecast demand accurately. This helps retailers optimize inventory levels, minimize stockouts, and reduce wastage. AI-powered systems can also streamline the supply chain by automating processes, improving logistics, and reducing costs.

However, this market also faces challenges. Implementing AI requires substantial investment in technology and skilled personnel, which can be a hurdle for smaller retailers. Additionally, concerns around data privacy and the need for integrating AI seamlessly with existing systems pose significant challenges.

Another challenge is the ethical use of customer data. Retailers must handle customer data responsibly and ensure compliance with privacy regulations. Building trust with customers is crucial to ensure the successful implementation of AI solutions.

Despite these obstacles, the opportunities in the AI in retail market are vast. AI opens up new avenues for retailers to innovate in customer engagement and operational efficiency. As technology advances, retailers who adopt and adapt to AI stand to gain a competitive edge in the market, leveraging AI to create more personalized, convenient, and responsive shopping experiences.

AI in Retail Statistics

  • A survey conducted by EY revealed that 87% of retailers acknowledged that AI has enhanced the customer experience. Additionally, 76% of retailers reported that AI has played a pivotal role in driving supply chain optimization and improvement.
  • The study further highlighted that approximately 86% of retailers have implemented AI or automation in some form within their operations, reflecting the growing recognition of AI’s potential to drive efficiency and productivity within the retail sector.
  • The benefits of AI implementation in retail are evident. Nearly half of the surveyed retailers (49%) have already experienced cost savings as a result of AI integration. Furthermore, 43% of retailers reported an increase in revenues, while 44% witnessed improved productivity within their organizations.
  • In terms of investment priorities, a study conducted by Rain Innovation identified the key AI applications that retailers are focusing on for 2023. Price optimization emerged as the top investment priority, with 73% of retailers planning to allocate resources in this area. Predictive analytics followed closely, with 61% of retailers recognizing its potential to drive insights and informed decision-making.
  • The AI in Retail Market is projected to experience substantial growth throughout the forecast period, with a Compound Annual Growth Rate (CAGR) of 29.9%. The Solution segment held a dominant market position, capturing more than a 74.1% share in 2023. The Machine Learning segment also secured a significant market position, accounting for more than 37% of the AI in Retail market in 2023.
  • The Customer Relationship Management (CRM) segment emerged as a frontrunner in the AI in Retail market, securing a dominant position with over a 22.7% share in 2023. Additionally, the Omni-Channel Retailers segment asserted its dominance, commanding a substantial market share of over 44.2% in 2023.
  • Regionally, North America emerged as the leading region in the AI in Retail market, capturing a dominant market position with a share of more than 39.3% in 2023.

Emerging Trends in AI in Retail

  • Generative AI: This technology is becoming crucial in personalizing customer interactions, ranging from product recommendations to marketing communications. It helps create a unique and engaging experience for each customer.
  • Omnichannel Integration: Retailers are focusing on integrating their online and offline channels to provide a seamless shopping experience. This includes using AI to analyze consumer behavior across different platforms and tailor services accordingly.
  • Sustainability through AI: More retailers are using AI to optimize their supply chains, reduce waste, and make operations more sustainable. This includes everything from better inventory management to reduced energy consumption in stores.
  • Advanced Analytics for Store Operations: AI-driven analytics are being employed to enhance store operations, from optimizing shelf placement to improving the efficiency of the checkout process.
  • Smart Payment Systems: As technology advances, the adoption of smart and self-checkout options that reduce human interaction and streamline the payment process is increasing.

Top Use Cases of AI in Retail

  1. Personalized Customer Recommendations: AI algorithms analyze past purchasing behavior to offer tailored product suggestions, significantly enhancing the customer shopping experience.
  2. Inventory and Stock Management: AI systems predict demand and help maintain optimal stock levels, reducing overstock and stockouts, thereby saving costs and boosting efficiency.
  3. Customer Engagement through Chatbots: AI-powered chatbots provide 24/7 customer service, handling inquiries and issues promptly, which enhances customer satisfaction and retention.
  4. Demand Forecasting: Retailers use AI to analyze various data points to predict future product demand, allowing for better preparedness and resource allocation.
  5. In-store Navigation and Layout Optimization: AI is helping improve the layout of stores and guide customers to their desired products quickly, enhancing the shopping experience.

How to Implement AI Strategies for Your Retail Businesses

Implementing AI strategies in your retail business can significantly enhance efficiency, customer satisfaction, and overall profitability. Here’s a practical approach to get started:

  1. Identify Key Areas for AI Integration: Begin by identifying the aspects of your business that could benefit most from AI. This could include customer service (via chatbots), inventory management, personalized marketing, or sales forecasting. Understanding your business needs will help you prioritize AI implementations that offer the most return on investment.
  2. Set Clear Objectives: Define what you hope to achieve with AI. Whether it’s improving customer engagement, reducing operational costs, or boosting sales, having clear goals will help you measure the effectiveness of your AI strategies.
  3. Choose the Right Technology: Depending on your objectives, select the appropriate AI tools and technologies. For example, machine learning models are excellent for predictive analytics and recommendation systems, while natural language processing (NLP) can power customer service chatbots.
  4. Data Collection and Analysis: AI systems require data to learn and make decisions. Ensure you have the infrastructure to collect, store, and analyze data securely. This includes customer data, sales data, inventory levels, and any other relevant information.
  5. Partner with AI Vendors or Hire Experts: If your business lacks the in-house expertise to implement AI, consider partnering with AI technology providers or hiring AI specialists. This can accelerate your AI initiatives and help avoid common pitfalls.
  6. Pilot and Scale: Start with a pilot project in a controlled environment to test the effectiveness of your AI solution. Based on the outcomes, you can refine your approach and gradually scale up to other areas of your business.
  7. Monitor and Optimize: Continuously monitor the performance of your AI implementations. Use the insights gained to optimize processes and improve outcomes. AI is not a set-it-and-forget-it solution; it requires ongoing adjustment and training as more data becomes available.
  8. Address Ethical and Legal Considerations: Be mindful of the ethical implications and legal requirements related to AI, particularly concerning data privacy and customer rights. Ensure your AI solutions comply with relevant regulations and ethical standards.

Recent Developments

IBM Corporation:

  • January 2024: IBM announced a collaboration with SAP to develop generative AI solutions aimed at enhancing supply chain, finance operations, sales, and services for the consumer packaged goods and retail industries. These solutions include optimizing store-level assortments and automating order settlements to drive efficiency and revenue​​.
  • May 2024: IBM introduced the IBM Copilot Runway, designed to help enterprises integrate generative AI copilots into their operations, focusing on use cases such as customer service and field service in retail​​.

Microsoft Corporation:

  • September 2023: Microsoft expanded its partnership with Oracle to bring mission-critical database workloads to Azure, providing AI capabilities that enhance efficiency, security, and customer experience across various industries, including retail​​.
  • August 2023: Microsoft and IBM collaborated to offer AI solutions that automate procurement and streamline enterprise search and knowledge bases, improving operational efficiency and providing actionable insights​.

Oracle Corporation:

  • 2024: Oracle introduced new AI and automation capabilities within its Fusion Cloud Applications Suite to optimize supply chain management and improve financial accuracy in retail operations. These updates include AI-powered lead time estimates and enhanced quote-to-cash processes​​.

SAP SE:

  • January 2024: SAP collaborated with IBM to integrate IBM watsonx AI platform into SAP solutions, targeting improvements in direct store delivery processes and product portfolio management in the retail sector​

Conclusion

In conclusion, AI in retail is rapidly evolving, marking a significant transformation in how retailers operate and engage with customers. The integration of AI technologies has not only enhanced operational efficiencies but also revolutionized customer experiences through personalized interactions and predictive analytics. 

The retail landscape is increasingly adopting an omnichannel approach, integrating both digital and physical shopping experiences seamlessly, driven by AI’s capabilities. Additionally, the focus on sustainability and smarter supply chains represents a crucial shift towards more responsible retailing. With AI at the forefront, the future of retail looks to be more connected, efficient, and customer-centric.

Source of Information: https://market.us/report/ai-in-retail-market/

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Mr. Yogesh Shinde is a passionate writer, researcher, and content creator with a keen interest in technology, innovation and industry research. With a background in computer engineering and years of experience in the tech industry. He is committed to delivering accurate and well-researched articles that resonate with readers and provide valuable insights. When not writing, I enjoy reading and can often be found exploring new teaching methods and strategies.

global trade loginext

LogiNext Cuts QSRs’ Food Aggregator Dependence by 25%, Boosting Profits and Brand Control

LogiNext, a leader in delivery automation and logistics management, proudly announces a groundbreaking achievement: reducing Quick Service Restaurants’ (QSRs) dependence on food aggregators by 25%. This accomplishment directly addresses the growing challenges QSRs face due to their reliance on third-party platforms. By reducing this dependence, LogiNext aims to help restaurants mitigate high commission fees, retain customer relationships, and enhance customer service consistency.

Read also: LogiNext Shines in Last-Mile Delivery Technology with Gartner Recognition

While food aggregators like Uber Eats, Grubhub, and DoorDash have provided QSRs with brand visibility and convenience, they also pose significant challenges. High commission fees—up to 30% per order—seriously impact profit margins. Additionally, restaurants lose control over customer relationships and face increased competition and service issues due to third-party delivery drivers.

LogiNext’s suite of advanced delivery management solutions tackles these industry challenges head-on. By integrating efficient delivery management, LogiNext optimizes delivery routes, reducing delivery times and costs. This results in faster, more reliable deliveries. Real-time tracking capabilities allow customers to monitor their orders from preparation to delivery, enhancing transparency and trust. LogiNext’s customizable solutions are tailored to meet the specific needs of each brand, integrating seamlessly with existing systems to maximize efficiency.

“Empowering QSRs to regain control of their brand and customer relationships is our primary goal,” said Dhaval Thanki, EVP of LogiNext. “By reducing reliance on third-party aggregators, we enable restaurants to enhance profitability, optimize delivery operations, and ultimately deliver a superior customer experience. Our mission is to drive innovation in the logistics industry, providing solutions that address current challenges and pave the way for a more sustainable and customer-centric future.”

Leveraging data analytics, LogiNext provides actionable insights into delivery performance, enabling continuous optimization and identifying areas for improvement. The platform is designed to scale with business growth and adapt to fluctuating demands, ensuring consistent delivery quality even during peak periods. Additionally, LogiNext’s automated communication tools keep customers informed through SMS or email updates, enhancing engagement and satisfaction throughout the delivery process.

A recent study by LogiNext shows that QSRs using their advanced delivery management platform have successfully reduced their reliance on food aggregators by 25%. This reduction not only results in significant cost savings but also allows QSRs to maintain control over their brand identity and customer relationships.

global trade supply-chain logistics

Building a Seamless Logistics Ecosystem: The Power of API Integration

An effective logistics ecosystem requires an interconnected digital framework which brings together the various logistics processes and transactions involved with a global shipment. In today’s competitive and challenging global shipping environment establishing an efficient automated work flow is key to service performance, data accuracy, and the best customer experience.

Read also: Enhance Accuracy in Logistics Demand Forecasting With AI

From freight rates and bookings to documentation and billing, connecting functional systems with API application programming interface) integrations allows services and products to communicate with one another and harness one another’s data and capability. This helps reduce manual data entry, offers faster access to data, streamlines data flows, and improves collaboration and data quality. 

How it works

It’s critical for all partners to a shipment to know, in as close to real-time as possible, that a shipment has stalled at a marine terminal or warehouse, or other point in the logistics network. When these exceptions occur, the impact is felt up and down the logistics chain. For example, a drayage provider might need to be alerted to the delay and a container pick-up rescheduled. Or, a retailer would need to be made aware of a late delivery of a key shipment of shoes that go on sale in the next few days.

Another example of an API integration that drives significant value is real-time shipment tracking. A logistics platform could use APIs to pull GPS data from ships, trucks, planes, and warehouse and transportation management systems to access the exact location and status of cargo in real time. The GPS data would provide shipment status milestones, such as ETAs (estimated times of arrival), and determine any disruptions to the freight in transit. Logistics providers and their customers would be able to see shipments in real-time and if they’re progressing as planned.

Magaya, a provider of logistics and supply chain automation software and the Digital Freight Platform, developed its Open API as a collection of web services that can be used with all popular programming languages, enabling users to unify their tech stack, and put all logistics and supply chain stakeholders on the same page.

APIs are critical to the global logistics ecosystem, driving efficiency, transparency, and innovation. They enable real-time data exchange, automate processes, enhance customer experiences, and facilitate the integration of emerging technologies, ultimately leading to a more resilient and responsive supply chain.

global trade supplier resilinc

New Resilinc Data Highlights a 30% Surge in Supply Chain Disruptions in H1 2024

Resilinc, a leading provider of supply chain resiliency solutions, has unveiled data revealing a significant 30% increase in supply chain disruptions in the first half of 2024. The EventWatchAI platform reported 10,629 disruptions between January and June, impacting industries such as Life Sciences, Healthcare, General Manufacturing, High-Tech, and Automotive.

Read also: Resilinc Releases List of Top Supply Chain Disruptions and Industries Impacted for the First Half of 2023

The top ten disruptions reported included:

– Factory Fires
– Labor Disruptions
– Mergers & Acquisitions
– Leadership Transitions
– Factory Disruptions
– Business Sales
– Legal Actions
– Recalls
– Extreme Weather
– Cyber Attacks

Notably, while disruptions due to factory fires decreased by 21%, compliance and ESG-related disruptions surged. Regulatory changes increased by 185%, fines by 82%, legal actions by 43%, and labor violations by 144%, driven by new legislation such as Germany’s Supply Chain Due Diligence Act, Canada’s Modern Slavery Act, and the EU Corporate Sustainability Reporting Directive.

Financial and organizational risks also escalated, with bankruptcies up 200%, force majeures up 128%, and leadership transitions up 92%. These increases are attributed to economic pressures including high-interest rates, inflation, shifting consumer demand, and rising operating costs.

Labor disruptions rose by 42%, with protests and riots increasing by 421%, reflecting global unrest over economic conditions and labor rights. Extreme weather events also spiked, with flooding incidents up by 220%, forest fires by 48%, and tornadoes by 94%. The number of hurricane/typhoon alerts reached 63, a 37% increase over last year and a 425% jump from H1 2019.

Over half (58%) of the disruptions triggered the creation of WarRooms—virtual platforms on Resilinc’s dashboard for customers and suppliers to assess and mitigate disruptions collaboratively. Resilinc’s EventWatchAI, monitoring 400 types of disruptions from 104 million sources, analyzes nearly 5 billion data feeds annually across 100 languages and 200 countries, making it the industry’s most comprehensive supply chain risk monitoring system.

global trade systems

How AI is Being Incorporated into Computer-Aided Dispatch Systems

For many years now, computer-aided dispatch (CAD) systems have been an important part of emergency response protocols. These systems are designed to help operators ensure they’re utilizing the right resources for the job and sending appropriate EMS teams to optimal locations.

Read also: Transforming Supply Chains: The Rise of Artificial Intelligence

However, with new advancements in artificial intelligence (AI) technology, there are now much faster, more efficient systems being developed and actively incorporated into response procedures. 

New AI-powered public safety solutions are helping to utilize emergency response resources in more effective ways while supporting better situational awareness for both dispatch teams and first responders on the ground.

AI-powered Voice Recognition and Natural Language Processing

The traditional format for answering and responding to 911 emergencies has been historically reliant on human dispatchers using their individual training to interpret the information being provided and make decisions on how to dispatch appropriate emergency services.

However, while the training these operators receive is highly regulated and continuously reinforced, the fact is that there is always room for error in human operations. This is where AI-powered dispatch systems can add tremendous value.

Using advanced voice recognition technology paired with natural language processing capabilities, 911 operating centers are able to gather and act on information in real time. This includes recognizing the nuances of specific call dialogues and even the tone of the caller to help categorize the severity of the situation. 

AI-driven or supported systems also help significantly reduce the time spent sending appropriate resources to the right locations by being able to decipher critical information about the emergency, including the location details, nature of the incident, and any parties involved. This can save precious seconds or minutes when responding to a situation and greatly improve response times while reducing the margin for data entry errors.

Better Resource Allocation and Prioritization

As we look forward to the next generation of AI-driven CAD systems, there is promising to be a significant leap forward when it comes to resource optimization and 911 call prioritization. Next Generation 911 (NG911) is one example of how dispatch teams can use multiple information formats to greatly improve their accuracy.

For example, when utilizing advanced AI-support systems, dispatch teams can reroute responders in real time based on traffic conditions being reported through a complex network of IoT (Internet of Things) technology sensors. This, along with GPS tracking devices, can identify the closest available responders in an area while dynamically prioritizing teams closest to emergency scenes.

These advanced solutions also help to ensure that all calls are prioritized correctly while avoiding a static queue – allowing situations to be updated in real time with up-to-date information. This can ensure that as cases escalate or deescalate in the field, responders are able to successfully reroute as needed and put their time and resources where it is most needed at any given time.

Predictive Analytics for More Efficient Dispatch

One of the most exciting possibilities that AI technology is bringing to emergency services is ability to apply predictive analytics to procedure management. Because AI tools are able to collect and analyze huge data sources in near real-time, they’re also able to provide incredibly detailed reports with revealing insights.

Over time, these tools can begin compiling information related to trends or patterns being identified regarding emergency response locations and the nature and severity of the issues. This can be incredibly valuable when predicting future “hotspot” locations for various emergency incidents and can help EMS teams ensure they have the right tools and equipment to respond properly.

While most emergency response units have a variety of tools at their disposal, when called into action, there may be extended delays to responses or the need to be transported to a local hospital if they don’t have everything they need for situations they’re presented with. Predictive models can help to minimize or even eliminate the likelihood of this situation happening.

Improved Situational Awareness and Communication

Situational awareness is so important when it comes to responding to an emergency. If first responders aren’t provided with enough information or the details are inconsistent, it can cost someone their life.

In this case, it’s important for EMS teams to have access to real-time data rather than having the information pass through several lines of communication. AI-supported technologies provide this level of detail to support teams while giving them a complete, unaltered picture of the scene before they arrive.

Also, in areas where there are various populations made up of diverse language groups, AI-powered CAD systems can help to systematically bridge the communication gap – translating caller dialogues with incredible accuracy and explaining the emergency.

Looking Ahead

As we continue looking forward, AI technology will continue to support the way we live in multiple ways, including the level of support we receive from emergency services. Although AI in itself will never be able to replace the importance of human perspective and judgment when it comes to making life-saving decisions, it can be a valuable tool that can help save the precious seconds first response teams need to do their jobs effectively.

Author bio

Kevin Ruef co-founded 10-8 Systems after exceeding multiple companies’ sales records (both domestically and internationally). With more than a decade in sales, his experience ranges from B2B, B2G, and B2C. Since the company’s start in 2019, Kevin has been responsible for business development, strategic partnerships, and business operations.

 

global trade retail

The Future of Retail Logistics: Trends and Predictions 

Do you know that in the year 2022, the number of supply chain disruptions reached almost 11,600 globally? A more staggering data tells us that supply chain disruptions result in 7.5% decrease in sales and 4.5% rise in the expenses. So what solutions retailers are opting to manage supply chains? 

Read also: Enhance Accuracy in Logistics Demand Forecasting With AI

Globally, retail logistics is the key to effectively managing the flow of goods from suppliers to consumers. Not only supply chain management, retail logistics also helpful in speedy delivery, inventory management, cost effectiveness, risk mitigation, enhanced customer experience, etc. On the back of this, various companies are opting for retail logistics options. This blog explores the key trends, giving us a glimpse of the booming industrial landscape in retail logistics market

Currents trends shaping the Retail Logistics 

The rapid growth of e-commerce has revolutionized retail logistics. Online shopping has increased the demand for efficient and flexible logistics solutions that can handle a high volume of small orders. It has been estimated that there are almost 2.6 billion online buyers in the world as of 2024. In the age of digitalization and convenience, e-commerce has emerged as a game-changer in the retail industry. With a simple click, consumers can now shop for products from the comfort of their homes, leading to a significant shift in buying patterns. While this has undoubtedly transformed the way we shop, it has also unleashed a tidal wave of changes in the logistics sector. As per the World Economic Forum, cross-border trade has expanded by almost 25% in the last ten years. Additionally, Over the past ten years, internet buying has become more popular worldwide. Retail e-commerce revenues are expected to increase by an additional 56% by 2026, having nearly quadrupled between 2014 and 2021. 

The retail logistics industry is undergoing a revolution with the rise of sustainable practices and green logistics. Companies in various sectors are actively working to reduce their carbon footprint and embrace environmental friendly practices in their logistics operations. This trend is being fueled by increasing consumer demand for environmentally conscious products and a growing awareness of the environmental impact of logistics. According to a survey conducted by analysts at Research Nester, 82% of customers worldwide strongly believe that businesses should contribute to environmental improvement.

As consumers increasingly prefer brands with sustainable practices, retailers adopting green logistics can attract a larger customer base and foster loyalty. By aligning with regulatory requirements and global sustainability goals, the retail logistics industry can achieve long-term growth and resilience while contributing to environmental preservation. 

The growth of the retail logistics industry is being driven by increasing consumer demand for omnichannel retail. This demand necessitates seamless integration of different shopping channels, prompting retailers to enhance their logistics operations to ensure efficient inventory management, faster delivery times, and a consistent customer experience across online and offline platforms. Investment in advanced technologies and logistics solutions enables retailers to meet these expectations, leading to increased sales, customer satisfaction, and competitive advantage, ultimately fueling industry growth. 

Likewise, omnichannel platforms see a 250% increase in consumer buy frequency compared to single channels, which results in a 14% rise in average order size. The finding that consumers who use many channels for their purchases have a 32% higher life value to businesses than those who use just one appears intriguing.

In the current times, artificial intelligence (AI) is transforming the logistics and retail industries by facilitating better supply chain management and individualized client experiences. Retailers are using artificial intelligence (AI) to evaluate customer data and offer customized recommendations, which boosts sales and customer satisfaction.

For instance, retailers in the UK are progressively embracing Artificial Intelligence (AI) technologies to support their data and analytics operations. 82%of UK merchants used AI technology in e-commerce, while 76% of them used chatbots for customer care. Only half of the UK merchants polled for this study used AI from a supply chain viewpoint. As of 2019, less than half of retailers had used warehouse robotics and logistics, although 57% of retailers benefited from AI in the area of stock management in warehousing.

These trends are creating a profitable landscape for the retail logistics market to expand. As per projections, the retail logistics market size was valued at USD 240.5 billion in 2023 and is poised to reach USD 10132.4 billion by the end of 2036, registering around a 12.9% compound annual growth rate (CAGR) during the forecast period of 2024-2036. 

Case Studies: Success Stories in  Retail Logistics 

Let us discuss how Walmart improvised its company growth through retail logistics :

Walmart has improved its supply chain with technology investments like blockchain for transparency, IoT for real-time tracking, and automated systems in distribution centers. These enhancements have boosted efficiency, improved last-mile logistics, and increased customer satisfaction and loyalty.

A staggering 72% of Walmart’s strategic capital expenditures between 2019 and 2020—a total of over USD 11 billion—went toward supply chain modernization. Walmart’s impressive revenue of approximately USD 612 billion in 2023 is proof that this significant investment has proven to be crucial.

Additionally, we see how Amazon employed retail logistics to improve & expand its services: 

Amazon has revolutionized retail logistics with its advanced technologies and extensive fulfillment network, including robotics, AI, and a vast distribution center. The prime service offers quick delivery and the company also invests in autonomous delivery vehicles and drones for innovative last-mile solutions.

Amazon’s growth continued in 2019, with the company delivering an estimated 2.5 billion packages, averaging 20 packages per household. Nowadays, Amazon has more than one million square feet of fulfillment centers. Globally, Amazon is expanding quickly as it gains more authority over its logistics. Currently, Amazon oversees 115 million square feet of distribution centers across the globe, with 104 of those centers located in the United States and 69 overseas.

Taking the above points into consideration, the retail logistics industry continues to employ innovations to meet the demands of the future. However, here we only scratch the surface of trends promoting the retail logistics market growth, and a more detailed analysis covering segmentation, regional differences, and market analytics is needed for further information on the retail logistics market.

Source : https://www.researchnester.com/reports/retail-logistics-market/6257

 

global trade carrier

Parade Elevates Freight Brokerage with Automated Carrier Qualification for McLeod Software’s PowerBroker TMS

Parade, a leader in capacity management, has unveiled an advanced feature for its Capacity CoDriver, a generative AI tool integrated with McLeod Software’s PowerBroker TMS. This development represents a significant advancement in the freight brokerage sector, addressing critical challenges such as valid quote generation, carrier verification, communication overload, and operational inefficiencies.

Read also: Supply Chain – Your TMS Isn’t Enough: Why You Need a FAP Solution

Capacity CoDriver revolutionizes the carrier qualification process by automating responses and carrier assessments, allowing brokers to focus on working with top-tier carriers. The tool’s instantaneous and thorough qualification capabilities enable McLeod PowerBroker users to expand their load coverage efficiently while upholding high standards of carrier qualification, reducing the engagement with unqualified or fraudulent carriers by up to 30%.

“Freight brokers face the constant challenge of managing multiple tasks and communications, often leading to inefficiencies and missed opportunities,” noted Lindsay Watt, VP of Product at Parade. “Our enhanced integration with McLeod Software’s PowerBroker seeks to resolve these issues by leveraging generative AI. This allows brokers to streamline their workflows and enhance productivity without compromising the quality of their carrier network.”

Beyond boosting efficiency, CoDriver provides real-time market feedback for pricing. By automating and accelerating the generation of quotes, brokers can quickly adjust their pricing strategies based on the latest market data, enhancing their competitiveness and responsiveness.

CoDriver also aids in building a broker’s trusted carrier database by automatically storing carrier quotes within McLeod PowerBroker. This feature gives brokers access to extensive historical data, facilitating informed decision-making and maintaining a reliable carrier network. The consolidation and utilization of this data enable brokers to continuously enhance their operations and fortify their carrier partnerships.

“The integration of Parade’s Capacity CoDriver with PowerBroker signifies significant automation through AI, promoting operational cost efficiencies and scalable growth,” said Ahmed Ebrahim, VP of Strategic Alliances at McLeod Software. “Our long-standing partnership with Parade allows us to provide our customers with a solution that addresses their operational challenges and drives efficiency.”

The automated carrier qualification feature of Capacity CoDriver is now available to McLeod Software’s PowerBroker customers, setting a new benchmark for operational efficiency in freight brokerage. This integration ensures rapid, automated responses to carrier inquiries and seamless third-party verification, saving time and mitigating fraud risk in the load booking process. By leveraging AI, freight brokers can streamline negotiations, expedite load bookings, and increase quote volumes, fostering scalable growth and success in the competitive freight market.

global trade wto world trade organization sectors

Global Trade Shows Mixed Recovery as Regional Disparities Emerge

The recent upswing in global trade is showing signs of leveling off, with distinct regional disparities becoming apparent. According to Tradeshift’s Q2 Index of Global Trade Health, the United States and China are continuing their upward trajectory, while Europe struggles to maintain momentum. Meanwhile, emerging markets like Vietnam, India, Malaysia, and Mexico are experiencing rapid growth as supply chain diversification accelerates.

Read also: Rising Shipping Costs Strain Global Trade Amid Geopolitical Unrest

Overall transaction volumes on the Tradeshift network remained steady compared to the previous quarter, with growth still trailing three points below expectations for Q2. Order volume growth, which had peaked at five points above expectations at the end of 2023, fell six points below the anticipated level.

“Order volumes have been climbing rapidly over the last six months, but the rate of acceleration is now starting to cool,” said James Stirk, CEO of Tradeshift. “This may well be the first sign that global trade’s recent resurgence is stabilizing, which could be beneficial. A more measured growth rate allows suppliers the breathing space needed to adapt and stabilize, reducing the risk of bottlenecks and disruptions.”

Key insights from this quarter’s report include:

-US Maintains Momentum: US trade activity exceeded expectations for the second consecutive quarter, with transaction volumes tracking one point above the baseline.

-China’s Steady Recovery: China’s trade activity continued to rise, exceeding expected levels by one point in Q2. This follows significant declines in the second half of 2023.

-Eurozone Plateaus: Trade activity in the Eurozone remains three points below baseline, with the region unable to surpass this level for over two years.

-UK Trade Slows: The UK experienced a decline, with transaction volumes ending Q2 five points below expected levels, reflecting ongoing challenges.

-Emerging Market Growth: Vietnam, Malaysia, India, and Mexico are seeing significant growth, with transaction volumes well above the global average.

-Sector Variability: Manufacturing activity saw a slight decrease, while demand for freight capacity remained high. The retail sector continues its slow growth trend of the past eighteen months.

-Supply Chain Liquidity: While cash flow pressures on suppliers have eased, payment cycles remain 5% longer than pre-pandemic levels, posing challenges for small and mid-sized enterprises.

“Geopolitical tensions and economic fragmentation are shaping the recovery landscape,” added Stirk. “Success in this environment requires businesses to forge new trade relationships quickly while navigating tariffs, taxes, and ESG regulations. Digitalization is crucial for companies to adapt to these changing conditions.”

This report highlights the complex and varied nature of global trade recovery, underscoring the importance of strategic adaptation and digital innovation in navigating the evolving landscape.

global trade packaging

Global Sterilized Packaging Market: Trends, Drivers and Future Outlook

Sterilized packaging refers to non-reusable plastic shells, wrappings, and other packing materials that undergo terminal sterilization to ensure that medical devices, instruments, and other products remain germ-free. This type of packaging is critical for maintaining the sterility and safety of products, especially in the medical and food industries.

Read also: Role of Packaging in Supplement and Nutrition Industry

Benefits of Sterilized Packaging

Sterile packaging offers numerous benefits to patients, manufacturers, and healthcare providers:

  • Patient Safety: Ensures that medical devices and instruments are free from contaminants, reducing the risk of infections.
  • Product Integrity: Maintains the sterility and efficacy of products throughout their shelf life.
  • Regulatory Compliance: Helps manufacturers meet stringent regulatory standards for safety and quality.

The global sterilized packaging market size is experiencing significant growth, with the market size expected to reach USD 50.63 billion by 2033, up from USD 30.78 billion in 2023, reflecting a compound annual growth rate (CAGR) of 5.22% from 2024 to 2033. This growth trajectory underscores the increasing importance of sterilized packaging across various sectors, particularly in the medical and food industries.

Key Trends and Findings

The Medical Device Sector: Ensuring Patient Safety and Regulatory Compliance

In the medical device sector, the security of patients and adherence to regulatory compliance are paramount concerns. Medical packaging, which encompasses impact protection, maintaining the integrity of the sterile barrier, and guaranteeing shelf life, plays a critical role in meeting these requirements. Every phase of an instrument’s journey, from storage and processing in the Central Sterile/Sterile Processing Department (CS/SPD) to transportation to procedural regions and eventual return to the CS/SPD space, is underpinned by innovations and protections from manufacturers. This includes creating efficient sterile barriers for instrument trays and storing supplies of various sizes.

Innovations in Sterilized Packaging

With the rapid development of packaging technologies, original equipment manufacturers (OEMs) are seeking novel solutions and rectifying existing flaws. Traditional packaging materials are failing to meet the expectations of today’s market and do not ensure consumer safety. Consequently, end users are increasingly seeking alternatives free from substances like styrene and bisphenol A (BPA), which are recognized as potential materials of concern.

Advancements in Food Sterilization Technologies

Modern food sterilization technologies, such as pressure-assisted thermal sterilization (PATS) and microwave-assisted thermal sterilization (MATS), are being driven by industry interest in energy-efficient, safe, high-throughput processes and consumer demand for nutrient-dense foods. These technologies represent significant advancements in ensuring the safety and quality of food products, contributing to the growing market for sterilized packaging.

Regional Insights

Asia-Pacific: A Region of Rapid Growth

The Asia-Pacific region is anticipated to grow at a CAGR of 7.50% during the forecast period. This growth is attributed to the expanding healthcare infrastructure and rising awareness about health and hygiene in the region. Countries like China, India, and Japan are leading the charge with significant investments in healthcare and increasing adoption of advanced sterilization technologies.

North America: Holding the Largest Market Share

In 2023, North America held the largest market share of 37.81%. This dominance is due to the region’s advanced healthcare infrastructure, high healthcare expenditure, and stringent regulatory requirements. The United States and Canada are at the forefront of this market, driven by robust healthcare systems and a high demand for sterilized packaging solutions.

Drivers of Market Growth

Increasing Demand for Sterilized Medical Packaging

The demand for sterilized medical packaging is on the rise due to the growing prevalence of chronic diseases, the increasing number of surgical procedures, and the heightened focus on infection control. Sterilized packaging ensures that medical devices and supplies are free from contaminants, which is crucial for patient safety and the success of medical procedures.

Stringent Regulatory Standards

Stringent regulatory standards set by agencies such as the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are compelling manufacturers to adopt sterilized packaging solutions. Compliance with these regulations ensures that products meet the highest safety and quality standards, further driving market growth.

Technological Advancements

Technological advancements in sterilization techniques and packaging materials are significantly contributing to market growth. Innovations such as electron beam sterilization and ethylene oxide (EtO) sterilization are enhancing the efficiency and effectiveness of sterilization processes, making them more reliable and widely adopted.

Rising Awareness About Food Safety

The rising awareness about food safety among consumers is another key driver of market growth. Sterilized packaging helps in extending the shelf life of food products and maintaining their nutritional value, thereby meeting the demands of health-conscious consumers. This trend is particularly prominent in developed regions like North America and Europe.

The report covers Sterilized Packaging Market Share and Segments by Product (Clamshells, Pouches, Bottles, Blisters and Ampoules, Vials, Others), Material (Plastic, Glass, Metal, Others), Sterilization Method (Chemical, Radiation, High Temperature/Pressure), End-user Industry (Medical and Surgical, Pharmaceutical and Biological, Food and Beverage, Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The report offers the value (in USD Billion) for the above segments.

Challenges and Opportunities

Challenges

Despite the promising growth, the sterilized packaging market faces several challenges. The high cost of advanced sterilization technologies and stringent regulatory requirements can be barriers to market entry for new players. Additionally, the disposal of sterilized packaging materials poses environmental concerns, necessitating the development of sustainable solutions.

Opportunities

However, these challenges also present opportunities for innovation. The development of eco-friendly sterilized packaging materials and the integration of smart packaging technologies can address environmental concerns and enhance the functionality of packaging solutions. Moreover, the growing healthcare infrastructure in emerging markets offers significant growth opportunities for market players.

Future Outlook

The future of the global sterilized packaging market looks promising, with continuous advancements in packaging technologies and increasing demand across various sectors. The focus on patient safety, regulatory compliance, and food safety will continue to drive the market. Additionally, the development of sustainable and innovative packaging solutions will be crucial in addressing environmental concerns and meeting consumer demands..

Report Source: https://www.towardspackaging.com/insights/sterilized-packaging-market-sizing