The race is on to define the future of freight forwarding. As the battle of shortages of resources like skilled labor and container availability continues, technology helps keep things moving smoothly. Margins can go thinner in a fragmented market if competition is not kept in check.
In a dynamic freight forwarding world, technology can help restore calm even in a chaotic situation like a pandemic. Disruptions can come from new entrants, a sharp rise in demand, or a shortfall of containers. It is essential to look at the latest digital trends that freight companies adopt to steadily move forward.
Machine Learning (ML) and Artificial Intelligence (AI)
AI plays a pivotal role in automating tasks manually. It allows saving time and money by forecasting demand. Avoid bottlenecks by optimizing your transport resulting in fuel cost and savings. AI can break down data and make sense of it. The gathered useful information allows for faster decision-making.
Machine learning complements your planning by supplying forecasting data. It can analyze large, diverse data sets quickly, which would have taken several days to complete. ML reduces the steps to prepare short-term, medium-term, and long-term plans to streamline operations.
Internet of Things (IoT)
To add value to the customer demands for more visibility, IoT can come into play. Combine IoT with sensors and freight broker software to monitor the state of the cargo and provide the same to your customers. Enhanced protection against theft monitoring and tampering is possible to support insurance claims. Multi-lane terminals and ports have found it beneficial to redirect cargo-filled trucks to reduce congestion and faster processing. IoT brings real-time data to your organization to crease out any cracks appearing due to lack of visibility.
Transparency in digitalization has been a valid concern to many traditional forwarders. Sharing financial data between parties is a huge matter of trust that makes collaboration difficult. Blockchain technology introduces a communication channel to improve collaboration and trust between parties. The assurance of the origin and chain of transition provides blockchain to fortify all parties' trust.
Cloud-based Enterprise Resource Planning Software
An increased number of software solutions have made interoperability a challenge. Too many software solutions add to the complexity of managing logistics business. Cloud-based freight management system ends the problem of looking at too many places at once. ERP assembles and creates a central repository of data that is accessible via the Internet. Logi-Sys cloud ERP is a one-for-all solution to manage teams dispersed over the globe and a bird's eye view of your operations and financials. Bring your customers too onto the same platform as your teams for ease of communication and processing.
In an increasingly digitized world and dynamic freight conditions, the time to act and embark on your digital journey is now. The aim of adopting trending technologies is to automate freight processes, streamline operations, increase customer satisfaction and boost productivity. Designed with the future in sight, Logi-Sys is a comprehensive cloud-based ERP for freight forwarders.