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Smart Logistics: Vital Economic Catalyst in the Era of New Quality Productive Forces | Insights

By YUTING CHEN|Mar 26,2024

Chongqing - The government work report released in March indicates that revolutionary technological innovations, creative rearrangements of production factors, and profound industry transformations and upgrades fuel the development of new quality productive forces.

"New quality productive forces indicate the future direction of productive force advancement and are pivotal in propelling high-quality development," said Professor Wang Xu, Dean of the Institute of Green and Smart Supply Chain at Chongqing University, in an exclusive interview with Bridging News on March 24.

Professor Wang points out that new quality productive forces lead to the creation of new types of production relationships. These relationships must be in tune with the needs of productivity growth, underlining the critical need for new production relationships that match the emergence of these new quality productive forces.

Professor Wang Xu, Dean of the Institute of Green and Smart Supply Chain at Chongqing University. (Photo/Wang Xu)

Systems instantly adapting to supply chain shifts

"Smart logistics, as one of the important support areas of new quality productive forces, plays an extremely crucial role in the current economic context," Professor Wang stated.

She noted that the key drivers in modern logistics and supply chain management, smart manufacturing, and the industrial internet are new technologies, processes, and materials, primarily governed by big data, the Internet of Things (IoT), artificial intelligence (AI), and blockchain.

Smart logistics uses advanced technologies such as IoT for real-time asset tracking, big data for market analysis and forecasting, and AI for decision support in optimizing inventory and distribution routes from a production factor configuration perspective.

This not only enhances resource utilization efficiency and reduces operational costs but also speeds up market response and strengthens corporate competitiveness, Professor Wang added.

Innovative logistics systems offer a transparent, real-time information platform that enables instant detection and adjustment to supply chain changes. In emergencies like natural disasters or disruptions, they can quickly reconfigure logistics routes and supply chain setups to reduce risks and losses.

The smart logistics system of the public information platform of the New International Land-Sea Trade Corridor (ILSTC). (Photo/Chongqing Daily)

Skilled professionals are the most valuable resource

"In a large city like Chongqing, smart logistics also faces unique technological challenges and market demands," Professor Wang said. "Therefore, we must keep an eye on the development of emerging technologies, such as 5G communications and blockchain, which can further enhance the efficiency and safety of logistics systems."

Professor Wang emphasized that achieving smart logistics is beyond the capacity of a single company or institution; it necessitates collaborative efforts among logistics firms, technology providers, government bodies, and end consumers.

She suggested establishing a standardized platform for data exchange and sharing to facilitate smooth information flow and enhance the efficiency of the entire logistics chain.

"Moreover, in the process of promoting the development of smart logistics systems, talent is the most valuable resource," Professor Wang continued. "High-quality professionals are the foundation for designing, operating, and managing smart logistics systems."

Therefore, forging stronger partnerships with higher education institutions and research organizations to develop logistics talent equipped with interdisciplinary knowledge and skills is crucial for smart logistics' sustainable and robust growth.

Swift emergency response to market changes

"Given the complexity and economic dynamism in Chongqing, its smart logistics system must be both adaptable and dependable," stated Professor Wang. "This means the system should manage everyday logistics operations and swiftly address emergencies and atypical scenarios."

Using advanced algorithms and machine learning, smart logistics systems can monitor traffic in real-time and predict and avoid potential delays, ensuring efficient logistics.

"To enhance the overall efficacy and risk resistance of the supply chain within smart logistics systems, we aim to build a supply chain collaboration system based on the smart logistics platform," Professor Wang stated.

The supply chain collaboration system will use advanced IT to facilitate real-time information sharing throughout the supply chain, enhancing interaction between segments and improving the ecosystem's transparency and efficiency. This will dramatically enhance responsiveness to market changes and help businesses manage risks more effectively.

"We hope that these efforts will not only drive the advancement of intelligent logistics technology itself but also promote the transformation and upgrading of the entire logistics industry, providing solid support for the economic development of Chongqing and the nation at large," Professor Wang said.


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