Growth in global trade has shown an upward trend since the mid-eighties till about 2008 at which time the growth stage flat lined creating stagnation for the industry. This stagnation has affected all players in the industry alike – shipping lines, 3PL/4PL service providers, ship-owners etc. Now what?
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5. Growth in global trade has shown
an upward trend since the
mid-eighties till about 2008 at
which time the growth stage flat
lined creating stagnation for the
industry. This stagnation has
affected all players in the industry
alike – shipping lines, 3pl/4pl
service providers, ship-owners etc.
Now what?
6. This applies as
much to the
logistics industry as
it does to other
industries. This is
raising the question,
"what does the
future of the
logistics industry
look like and how
will it be affected
going forward?"
7. As the stagnation is still plaguing the
industry, the age-old adage “survival of
the fittest” is playing out as companies
are struggling to stay afloat.
9. Interestingly enough, the logistics industry is one of the most
dynamic industries in the world yet seemingly one of the late
comers into the digital, data and technological space.
However, that seems to be changing as logistics companies
around the world are beginning to embrace the digital revolution
and seem on track to consolidate their digital requirements.
Companies are implementing technology-based changes in
essential logistics functions across various internal processes
covering supply chain procurement, sales & operational planning
and customer services.
11. Jit or just in time deliveries, which were
accessible to a select few, could
become a norm as digital technology
makes deliveries, schedule
management, route planning, and cargo
monitoring all possible in real time.
1
12. The IOT (Internet Of Things) provides
the required connection between the
warehousing team and the distribution
team while providing the customer with
enhanced visibility of their cargo en
route.
2
13. Warehouses being robotized, drones
being used for deliveries, unmanned
vehicles, big data harvesting are all
being implemented and improved upon
as part of this digital revolution.
3
14. On-demand and real-time data analytics
on transport rates, all modes of
transport transit times, risk
assessment, predictive analysis and
anything else that creates efficiency for
suppliers, manufacturers, 3pl/4pl
4
16. Companies Are Also Increasingly Focusing More On Their Own
Internal Teams' Efficiency. In Light Of The Instability In Trade,
Natural Disasters, Economic Turmoil, Etc., Logistics, Procurement
And Supply Chain Professionals Need To Have Information
Readily Available To Support Their Decisions.
Making Sure That Goods Get From A To B On Time With Little
Disruption To The Flow, Taking Care And Making Sure That
Chosen Suppliers Are Offering The Best Possible Price With Best
Reliability Is What Matters To Industry Professionals
Logistics/procurement/scm professionals must be able to rely on
easy accessible data and tools that relieve the disruption, cater to
everyday work task efficiency and offer security for all aspects of
the supply chain. Technology can do this.
18. For technology to play an integral part in this
industry, there has to be effective training of
the people in order to create a digital culture
and to prepare the workforce to use such
tools on a daily basis.
19. Still, even in its
currently limited
capacity,
technology plays a
crucial role in the
interface between
customer and
logistics service
provider (lSP) and
there are several
examples of its
benefits.
20. Although the report highlights the lack of a clear digital operations
vision and support / leadership from top management, examples
of this support and leadership can be found in some of the
shipping majors such as Maersk line.
There are also clear economic benefits of digital investments and
a real-life example of such benefits is the container terminal of
Maasvlakte II in Rotterdam. L.
Data analytics is another huge piece of the puzzle, which will help
the ISP to improve ux by predicting the requirements of the
customer and pre-empting/fulfilling this requirement.
22. In an ever-competitive environment, the requirements and
demands of the customers are increasing while at the same time,
growth is stagnating and profit margins are reducing.
LSPS need to fit operationally, financially and digitally in order to
stay relevant and be able to provide their customers a cost
efficient, and innovative service that meets their expectations.
Digital fitness is quickly becoming a prerequisite for an lsp to
achieve logistics success.
Fortunately, getting your company digitally fit is easier than you
think. There are a myriad of technology-based logistics and
shipping companies bringing clarity and information to the
industry.
24. Learn how Xeneta can help
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