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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Jessica Weisman-Pitts

    Posted on November 18, 2021

    Featured image for article about Top Stories

    Automation is changing the way that many key industries function — but evidence would suggest that the UK is yet to get up to speed with the newest technology. In this article, Craig Powell, from supply chain technology partner Balloon One, explores how increasing automation can improve efficiency across the supply chain and boost national productivity.

    Technology has advanced leaps and bounds in the last decade alone, and it has become more intertwined with everyday living than ever before. But the latest tech isn’t just a major part of our lives on a personal level — it’s completely transforming industries across the globe, including supply chain logistics.

    However, the UK is falling behind in terms of automation in logistics. In fact, our study found that in 2017, the UK logistics industry had just 85 robots per 10,000 workers. To put this in perspective, the Republic of Korea had 710 workers per 10,000, while Singapore had 658.

    But what does this lack of automation actually mean for productivity? Read on to discover the reasons why the UK may be lagging behind other countries when it comes to automation in tech, and how you can optimise productivity in your own business using the latest robotics and automation.

    Why the UK logistics industry is lacking in automation

    While automation has been proven to boost productivity, there are a number of reasons why businesses may be wary of implementing this type of technology. However, these reasons largely stem from misconceptions.

    For example, one common misconception that puts businesses off the technology is that automation will impact negatively on current employees, who may feel that tech solutions are a threat to their jobs. But this is far from the truth, as automation is there to help the worker by ridding them of tedious tasks, freeing up their time to spend on more valuable and less mind-numbing work. In fact, a report from the McKinsey Global Institute found that only 5% of jobs can be fully automated, so there will always be room in the industry for both automation technology and humans to work side by side.

    Another issue that many businesses have with automation is the cost of implementation. However, in the vast majority of cases, the cost of installing the technology is offset by the subsequent increase in profits thanks to an increase in productivity, making it a cost-effective investment.

    Aside from these misconceptions, some businesses don’t invest in automation as they simply don’t see what they can gain from it. However, this technology brings with it numerous benefits, including boosting profits, improving worker safety, and of course, optimising productivity.

    How to optimise productivity with different kinds of automation

    Robotics and automated solutions have come leaps and bounds in the past decade, which is great news for businesses looking to invest in automation. There are a number of different types available at every level of the supply chain, including in the warehouse, in transit, and in the office.

    In the warehouse

    There are so many options for automation in the warehouse that will not only keep your workers safe, but improve efficiency and productivity, too. For example, automated warehouse picking systems use robots to help workers pick and retrieve items. This can greatly reduce picking and travelling time for workers, meaning human operatives can be re-deployed to work on more valuable tasks. Automation also eliminates the risk of human error, which may occur more often with repetitive tasks such as picking or labelling.

    There are also automation solutions that can be used to support faster, more accurate picking by human operatives, such as pick-to-light systems. Every time an operative scans a barcode, the system activates lights above the items which need to be picked and packed. This is great for preventing workers from getting lost or side-tracked, to help them achieve and surpass their targets.

    In transit  

    Transport is a key part of the logistics industry, and over the past few years, fleet managers have greatly benefited from automation. Transport management systems allow for entire journeys to be planned and tracked to ensure that things are running as smoothly and efficiently as they can.

    One way transport management systems boost productivity is by helping drivers find the best route for maximum efficiency. It is also possible to track the driver’s journey in real-time, so you can keep an eye out for any issues and see whether targets are being met. And giving drivers handheld devices to automatically capture barcodes, signatures, and any other relevant information will make it quick and easy to fetch information to resolve any customer or client complaints in regards to their delivery.

    In the office

    Automation doesn’t just help when it comes to manual labour in logistics: it can support the administrative side of the industry, too. For example, using document capture to scan and save images of physical documents will help reduce reliance on paper copies, saving physical office space. It can also make it easier to retrieve important pieces of data and information as and when they are needed. Plus, it makes collaboration far easier as sharing the document becomes quick and simple.

    There are also plenty of data analysis automation tools out there to help your business grow. These tools can process data far more efficiently and accurately than humans, which gives your workers more time for other tasks. And another bonus is that these tools can be used to predict future demand, which allows you to plan ahead to boost productivity during busy periods (SelectHub).

    Automation is changing the supply chain industry as we know it. Now we’ve seen the benefits of this technology, it’s time for UK supply chain businesses to consider getting on board. For more news on all things business and finance, make sure to check out the other articles available at Global Banking and Finance Review.

    Automation is changing the way that many key industries function — but evidence would suggest that the UK is yet to get up to speed with the newest technology. In this article, Craig Powell, from supply chain technology partner Balloon One, explores how increasing automation can improve efficiency across the supply chain and boost national productivity.

    Technology has advanced leaps and bounds in the last decade alone, and it has become more intertwined with everyday living than ever before. But the latest tech isn’t just a major part of our lives on a personal level — it’s completely transforming industries across the globe, including supply chain logistics.

    However, the UK is falling behind in terms of automation in logistics. In fact, our study found that in 2017, the UK logistics industry had just 85 robots per 10,000 workers. To put this in perspective, the Republic of Korea had 710 workers per 10,000, while Singapore had 658.

    But what does this lack of automation actually mean for productivity? Read on to discover the reasons why the UK may be lagging behind other countries when it comes to automation in tech, and how you can optimise productivity in your own business using the latest robotics and automation.

    Why the UK logistics industry is lacking in automation

    While automation has been proven to boost productivity, there are a number of reasons why businesses may be wary of implementing this type of technology. However, these reasons largely stem from misconceptions.

    For example, one common misconception that puts businesses off the technology is that automation will impact negatively on current employees, who may feel that tech solutions are a threat to their jobs. But this is far from the truth, as automation is there to help the worker by ridding them of tedious tasks, freeing up their time to spend on more valuable and less mind-numbing work. In fact, a report from the McKinsey Global Institute found that only 5% of jobs can be fully automated, so there will always be room in the industry for both automation technology and humans to work side by side.

    Another issue that many businesses have with automation is the cost of implementation. However, in the vast majority of cases, the cost of installing the technology is offset by the subsequent increase in profits thanks to an increase in productivity, making it a cost-effective investment.

    Aside from these misconceptions, some businesses don’t invest in automation as they simply don’t see what they can gain from it. However, this technology brings with it numerous benefits, including boosting profits, improving worker safety, and of course, optimising productivity.

    How to optimise productivity with different kinds of automation

    Robotics and automated solutions have come leaps and bounds in the past decade, which is great news for businesses looking to invest in automation. There are a number of different types available at every level of the supply chain, including in the warehouse, in transit, and in the office.

    In the warehouse

    There are so many options for automation in the warehouse that will not only keep your workers safe, but improve efficiency and productivity, too. For example, automated warehouse picking systems use robots to help workers pick and retrieve items. This can greatly reduce picking and travelling time for workers, meaning human operatives can be re-deployed to work on more valuable tasks. Automation also eliminates the risk of human error, which may occur more often with repetitive tasks such as picking or labelling.

    There are also automation solutions that can be used to support faster, more accurate picking by human operatives, such as pick-to-light systems. Every time an operative scans a barcode, the system activates lights above the items which need to be picked and packed. This is great for preventing workers from getting lost or side-tracked, to help them achieve and surpass their targets.

    In transit  

    Transport is a key part of the logistics industry, and over the past few years, fleet managers have greatly benefited from automation. Transport management systems allow for entire journeys to be planned and tracked to ensure that things are running as smoothly and efficiently as they can.

    One way transport management systems boost productivity is by helping drivers find the best route for maximum efficiency. It is also possible to track the driver’s journey in real-time, so you can keep an eye out for any issues and see whether targets are being met. And giving drivers handheld devices to automatically capture barcodes, signatures, and any other relevant information will make it quick and easy to fetch information to resolve any customer or client complaints in regards to their delivery.

    In the office

    Automation doesn’t just help when it comes to manual labour in logistics: it can support the administrative side of the industry, too. For example, using document capture to scan and save images of physical documents will help reduce reliance on paper copies, saving physical office space. It can also make it easier to retrieve important pieces of data and information as and when they are needed. Plus, it makes collaboration far easier as sharing the document becomes quick and simple.

    There are also plenty of data analysis automation tools out there to help your business grow. These tools can process data far more efficiently and accurately than humans, which gives your workers more time for other tasks. And another bonus is that these tools can be used to predict future demand, which allows you to plan ahead to boost productivity during busy periods (SelectHub).

    Automation is changing the supply chain industry as we know it. Now we’ve seen the benefits of this technology, it’s time for UK supply chain businesses to consider getting on board. For more news on all things business and finance, make sure to check out the other articles available at Global Banking and Finance Review.

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