In this article, Infor's Jerry Beaston discusses how 2024 warehouse management trends include the expansion of more strategically located, state-of-the-art warehouses driven by the e-commerce boom.
It also highlights key trends in the global warehouse management market. As of 2022, the market is valued at $3.4 billion and is expected to grow at a CAGR of 19% from 2023 to 2030. The e-commerce boom has driven demand for advanced warehouses to meet evolving customer expectations. Key trends for 2024 include the expansion of warehouses, addressing labor shortages through automation, increased adoption of AI and machine learning, integrating immersive tech for employee efficiency, the impact of IoT on real-time data analysis, and the rise of cloud computing in warehouse management software. Companies that embrace these innovations will gain a competitive advantage in 2024.
The global labor shortage is effectively tackled through automation, primarily driven by Warehouse Management Systems (WMS), which enhances productivity and lowers costs. The adoption of Artificial Intelligence (AI) and machine learning (ML), the integration of immersive technology for employee training, the utilization of the Internet of Things (IoT) for real-time data analysis, and the rising significance of cloud-based WMS represent noteworthy advancements in warehouse management. These developments address operational challenges and offer companies a competitive edge when strategically aligned with their business goals.
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