Last-mile delivery, crucial for transporting goods from warehouses to consumers, faces significant challenges such as misdelivered packages and delays. Major players like Veho are leveraging AI to optimize delivery routes, enhance accuracy, and predict potential errors. With e-commerce sales reaching $300 billion recently, there is increasing pressure to improve last-mile logistics, which comprises 41% of supply chain costs. Venture capital funding for logistics startups exceeded $80 billion over the last decade, indicating a significant opportunity for technological advancements in this sector.
You're dealing with humans and the real world and trucks and traffic. In an area long dominated by carriers like UPS, FedEx, and the US Postal Service, Veho and many other software providers are looking to solve the challenges that pervade this notoriously complex and expensive part of the supply chain.
A big opportunity for AI to help this industry catch up to other industries. E-commerce sales continue to grow, reaching new highs of $300 billion in the last two quarters, making the last mile busier than ever.
Last-mile delivery makes up an estimated 41% of all logistics costs in the supply chain, according to the Capgemini Research Institute. We're using AI to design more efficient delivery routes, improve accuracy and customer experience.
In the last decade, about $80 billion in venture capital went to logistics startups, with on-demand last-mile delivery platforms getting the greatest share of those funds.
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