Ruchi Dogra, Director & Co-Founder, FreightCrate Technologies
The empowered executive
Employees of logistics providers and user companies are much more aware now and are utilizing toolsets and systems that enable them to deliver more. Whether it is performing mundane routine tasks or a high-value activity of decision making, automation has enabled the creation of both time and decision support systems to prioritize and focus on, thereby ensuring the shipments are not just planned, but are delivered within the planned parameters
IoT, AI, Data Analytics
Experience, experience, experience
Integration of all areas of business activities 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 is all about enabling businesses that use logistics to plan and operate long term to re-organize their business models and market acquisition strategies, leading to improved experiences for shippers, carriers and value-added logistics players in the value chain.
All participants want to have information for their own use, in their own format, and at no cost. Is this possible? Yes. It is being delivered using the advancements of AI, machine learning and implementation of business intelligence systems. Sharing of data in standardized format and making available decision dashboards that can be easily understood, have become the norm. This development is enabling movement of information at a fast pace as required by buyers, shippers and other providers in 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 moving parts of logistics are not just the goods that flow within, but the data that is created, generated and which dynamically changes during the course of logistic operations. Logistic service intermediaries of the new age are adept at using technology to interpret this dynamic data to provide cost-effective methods of shipment. Modelling and machine learning are aiding suppliers to deliver shipments efficiently and inexpensively to their clients. This transformation is self-propelled and unstoppable. The challenges it poses in terms of data magnitude and security is growing but is not a hindrance.
Overall, the advent of technology is leading to a culture of decision making based on data and not gut-feel. The gains in both quality and performance as delivered in a technology-powered logistics value chain are realized by both buyers and providers.
The growth in new-age logistic intermediaries armed with technology, is here to stay and provide an edge to their clients. Whether it is ad-hoc, regular or long term planned shipments, the ability to provide a quote electronically in a standardized format is enabling the logistics players to capture the opportunity with instant price modelling.
Clients of providers and clients of buyers are both relying upon the technology-enabled transparent and standardized data availability. This is creating a unique business model within the industry, enabling spot pricing, efficient logistics routing, and, above all, a satisfying experience for all involved.
