What Can Logistics Professionals Learn from the Online Casino Industry?
Tuesday 8th December 2020
Technology has ushered in a slew of changes for the logistics industry. Not only have processes been streamlined and simplified, but they have been changed beyond recognition. Similarly, technology has also presented new ways of doing things for the casino industry. Moving from offline to online has been a major change, but technology continues to help the industry improve. How can the logistics industry learn from online casinos about embracing technology to improve existing and traditional concepts?
Digitization first impacted the logistics industry when the end consumer was able to choose from a wider selection of vendors through online means. As a result, power fell into the customers' hands - their barriers to change were smaller. All companies involved in the logistics and the supply chain needed to show they were also at the forefront of new technology.
Moreover, the gradual increase of e-commerce (the Comisión Nacional de los Mercados y la Competencia suggests a 25% year-on-year growth for it) has also led to a need for those involved in the logistics industry to rise to meet the challenge of this new technology. As a result of what customers expect - speed, efficiency - the logistics companies are forced to place the customer experience at the heart of their business model.
This digitization isn't dissimilar to the route that the online casino industry has taken. The industry moved further online to meet customer demand. Heavy competition in the industry meant that newer technology or sleeker experiences for customers put one site ahead of their rivals. The games on offer, such as the Royal Panda Book of Dead slot game must reflect the digital nature of the medium. As well as covering traditional slot gameplay, they must also include something that shows they have adapted to their new format online.
So, for example, the game utilizes video content and animation while also immersing players in the narrative of hero Rich Wilde. Indeed, the video capabilities of the slot game also show that the site and the software it utilizes matches the extent to what modern technology allows.
The online casino industry also experiments with payment methods. While being able to pay via bank transfer or through PayPal is expected for most things, the industry also uses other methods. E-wallets, such as Skrill and Neteller, and even payment cards such as Paysafecard have been known to be offered as payment methods for the industry. Some online casinos even allow players to use cryptocurrency as a payment method. This shows a major commitment to what the future of finance may look like.
Logistics isn't necessarily adopting new payment methods, but the industry has taken the basis of cryptocurrency and blockchain to help with some supply chain issues. Blockchain has been used before in the supply chain industry to help the transportation of frozen products. By setting each product onto a specific blockchain there is an immutable record for each part of the supply chain to refer to. This helps prevent things from being lost and is easy to find individual products should any need to be recalled.
One of the easiest things to do upon the advent of brand new technology is to reject everything that has been done before. But while new technology can make things easier, completely throwing out everything traditional could be a mistake. The online casino industry has shown that there can be a blending of the two. Many of the games featured in the industry are based on centuries-old concepts - such as poker, blackjack, and roulette. Technology has just allowed these to improve and be delivered in a new format to players. The industry hasn't altered the formula that made the games so popular to begin with.
The logistics industry should do the same. Aspects of supply chain management have existed since the earliest market traders and these shouldn't be rejected outright. Reliance on technology is useful but ensuring there are fail-safes throughout that keep the process running are also crucial. For instance, the logistics of the Ocado warehouse were improved through the addition of robots to help pack products. But the robots couldn't detect issues, so were unable to notice a fire that had broken out which ended up damaging a significant amount of stock.
Using a combination of traditional and modern methods could benefit the logistics industry. As the online casino industry has already shown, a blend of the two could end up drawing on the benefits of both the traditional and the modern.