Technology, a game changer in logistics
Ruchi Dogra, Director and Co-founder, FreightCrate Technologies, explains how not just simple automation but a combination of new-age technologies for the new-age logistics service providers are at the tipping point of mass adoption by the industry.
Today, there isn’t just one unique identifiable technology that can create a quantum impact on the logistics industry. Simple automation, which seemed like the panacea for all logistics-related issues, is no longer the natural option. The way automation is impacting the logistics industry and its value chain is evident from the emerging new business models which are disrupting traditional forms.
THE EMPOWERED EXECUTIVE
Employees of logistics providers are now more aware, utilising toolsets and systems that enable them to deliver more. Whether it is performing routine tasks or taking high-value decisions, automation has enabled the creation of both time and decision support systems to help prioritise shipments and ensure they are not just planned effectively but also delivered within the planned parameters.
IOT, AI AND DATA ANALYTICS
IoT (Internet of Things) has the potential to be the bigger disrupter. Optimising cost, reducing cycle times, and transparent and efficient documentation – all are seen as basic requirements today. The supply value chain is employing IoT to ensure all relevant data is generated in a uniform and manageable dashboard format. Decision-making support from AI algorithms and modelling is a norm for supporting decision making.
The way automation is impacting the logistics industry and its value chain is evident from the emerging new business models
EXPERIENCE COUNTS
Integration of all areas of business activity is imperative for both small and big enterprises. Smart decision making, efficiency gains, timely execution, and transparent pricing models that impact profitability are both demanded and delivered by the logistics industry’s new-age providers. It’s all about enabling a business that uses logistics to plan for and reorganise the business model and market acquisition strategies. All of this leads to improved experiences for shippers, carriers, and valueadded logistics players in the value chain.
INFORMATION FLOW IS FASTER, CHEAPER, AND TRANSPARENT
All participants want to have information for their own use, in their own format, and without cost. Is this possible? Yes, and it is being delivered using the advancements of AI, machine learning, and implementation of business intelligence systems. Sharing of data in a standardised format and making available decision dashboards that can easily be understood are the norm. This development is enabling movement of information at a fast pace as required by buyers, shippers, and other providers within the logistics supply chain. The underlying systems create a level of transparency which is acceptable to all and is improving day by day.
TRANSFORMATION THROUGH DIGITISATION
The growth in new-age logistics intermediaries with an edge in technology is here to stay and in turn provide an edge to clients. Whether planning of shipments is ad hoc, regular or long-term, the ability to provide a quote electronically in a standardised format is enabling logistics players to capture the opportunity with instant price modelling. This is creating a unique business model within the industry, enabling spot pricing, efficient logistics routing and above all, a satisfying experience for all.