5 Tech Trends Emerging in the Freight Industry
As a proud supplier of provisions, equipment and parts to vessels bound for South African ports in Cape Town, Saldanha, Port Elizabeth, Coega, Durban and Richards Bay, the Link Ship Chandlers team keeps a close eye on the trends that influence the shipping trade. Lately, there has been plenty of movement on the technological front, so we thought we’d share some insight on the tech trends that have started to emerge as we head into the second half of 2019.
5 TECH TRENDS EMERGING IN THE FREIGHT INDUSTRY IN 2019
The IoT Boosts Connectivity
The ‘Internet of Things’ (IoT) is driving the development of global villages that allow customers to source and ship goods and services across countless applications and platforms. This is advancing innovation, and improving the overall management of execution processes across the board – resulting in improved customer experiences.
Outsourcing Is Becoming Commonplace
In order to enhance profitability, businesses are outsourcing all activities and executions that do not lie at the core of a given enterprise. This is largely possible because of the integrated digital solutions that serve one another, especially in the shipping and freight industries.
Elastic Logistics Control Customer Costs
Instead of adhering to the old-school notion of ‘just in time’ logistics (i.e. products, components and resources are delivered to a client right before they need it), our digital capabilities now allow customers to increase or reduce their inventory so they may manage and control costs from their end.
Big Data Improves Operational Capabilities
Freight companies and freight customers alike are using data analytics in their favour – analysing everything from fleet management to inventory control to improve operational efficiency. In doing so, they are able to optimise processes by eliminating wasteful expenses at the hand of supply and demand patterns.
The Shared Freight Economy is Here
Sharing platforms are doing away with the limitations of geography and borders, providing access to new markets and market segments. By 2025, it is estimated that there will be a whopping 75 billion connected devices around the globe. In the freight industry, this will allow future B2B and B2C enterprises to market themselves directly to customers by tailoring offers according to their logistics requirements. Transporters will also be able to reduce empty runs and increase volumes.
Fascinating right? What a time to be alive! For more exciting freight-related news and info from inside the Link Ship Chandlers camp and around the globe, keep an eye on the blog in coming weeks and months. We always have our ear to the ground and take pride in sharing the latest shipping and freight news as it becomes available.