The Importance of Digital Technology in the Logistics Space
Today’s logistics marketplace is making headway in its digital transformation.
Priorities in 2019 are likely to shift towards building resilience into freight operations to mitigate the impact of trade tensions, currency exchange rate volatility and rising interest rates. Ultimately, logistics companies must automate their operations to handle data-heavy processes, in order to stay flexible and meet rising consumer demand.
To boost efficiency, Ramco Systems, a provider of cloud-based software, partners with CKB Logistics to digitize its supply chain and centralize their operations. For the likes of CKB, they understand the importance of having a unified system that can automate their information flow, providing customers with consistent high levels of service.
Whilst the largest freighters and shippers like Zim Lines and Sparx Logistics are taking the lead in adopting emerging technologies, it is still not significant enough to make an impact to the industry in general. Given the vast array of differing solutions and standards being used within the logistics industry, it is apparent we need two things: Standardization and Automation.
Here are 3 ways to overcome impending challenges:
1. Unifying Formats
Freight forwarders face the big challenge of unifying various rate sheets. To add to the complexity, these data come in various file formats, with different naming conventions and different layouts, creating more confusion and extra work just to consolidate data. Standardization is now a need and it must take place in order to enable efficient collaboration. Having rate management software can support and digitize operations in a way that could not be done before.
2. Leveraging Digital Platforms
The key to a robust global trade network is connecting all these supply chain partners through technology that is easily accessible to everyone. Many digital solutions today are available as subscription-based models. For businesses of every size, cloud-based is synonymous with lower upfront costs and quicker set up and deployment centrally from the cloud. Within a unified platform, key players like forwarders, suppliers and even customers can also leverage one open and collaborative environment which will offer new ways of data sharing and coordination that provides benefits for all.
3. Deliver Quality Service
Delivering a good customer service experience is important to keep any business thriving. Customers are turning to solution providers that can confidently offer real value along the supply chain. An integrated, end to end solution that manages information consistently and effectively is a crucial way to demonstrates a commitment to deliver service excellence.