Innovative solutions in logistics have started to transform the way goods are being delivered, especially in the last mile. Retailers and consumers have started to become more demanding, with user experience and instant deliveries becoming critical factors within the market. This is largely coinciding with an influx of tech-savvy startup firms within this space that are introducing newer value-added services not previously witnessed. Currently, the last mile is considered one of the biggest hurdles within Logistics. Recent research suggests that roughly two-fifth of the overall logistics costs are being spent on the last leg. This has resulted in logistics and transportation firms looking at technology and new business models as alternate means to address the growing issue of the last mile. Integration of connected devices, data analytics, machine learning, innovative stock management systems, and other related technologies are becoming pivotal to driving some of these new business models.
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