IBPS PO 2020 · Question 64 of 99

Fill in the blanks with appropriate words. Logistics can be traced all the way back to the Greek and Roman empires, but it's undergone several major ____(1)_____ as new technologies provide opportunities to more efficiently manage the movement and storage of goods. In the digital transformation age, logistics is once again undergoing a major shift. Logistics technologies such as robotic warehouse systems make automation a reality, while drones improve last-mile delivery capabilities and better tracking with tools like RFID tags improves visibility throughout the supply chain. These technologies also contribute to a rise in big data and analytics in the logistics field. RFID tags and robotic warehouse systems generate and transmit data that, when combined with other data sources, allow companies to optimize the supply chain and make better ____(2)____ and forecasts to improve efficiency and boost the bottom line. Increasing technology innovations are making big waves across industries, and logistics and the supply chain may be one of the most impacted sectors. Notorious for its heavy use of manual processes and large amounts of data stored in different ways and in different places, the logistics industry has perhaps the most to gain from new technologies and following the most innovative Supply Chain and ____(3)____ Logistics technology trends. Recent years have seen massive advancement for the logistics industry in areas like artificial and augmented intelligence, advanced analytics, and automation, to name just a few. These technologies have evolved faster than ever while startups with even newer solutions and innovations continue popping up at a ____(4)____ rate. But attached to these innovations are new expectations and standards, forcing logistics companies to either adapt or fall behind. Much pressure comes from customers in the form of individuals and enterprises, all of who are demanding their products or services come faster and cheaper than ever before. But advancements in technologies aren't the only big changes influencing the industry. From new shipping ____(5)____ to growing global tensions and trade wars, and a predicted economic recession, logistics companies will need to be alert and prepared for 2020. For example, carriers are already working hard to meet the global 0.5% Sulphur cap, which goes into effect on January 1, 2020. It would ____(6)____ up to 70,000 ships, according to IMO estimates, and could lead to a 20-30% increase in total fuel costs, which would ultimately be passed on to customers. Global trade wars and tensions like that of China and the U.S. have continued affecting logistics operations. In 2018, trade tariffs affected $34 billion worth of Chinese products imported into the U.S., with China also taking costly countermeasures on U.S. imports. The European economy has also been going into a downturn as Brexit concerns continue weighing heavily on European countries, and the U.S. economy has also been growing weaker. All of these issues are signaling a possible global ____(7)____ in 2020, which would make things much more ____(8)____ for logistics companies. What should come in place of blank (7)?

Cloze Test

1. AInflation
2. BRecessionCorrect
3. CStagnancy
4. DDiversification
5. EDestruction