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Upcoming technological advancement in Logistics and Transportation Industries

Advancement in technology can bring operational efficiencies and decline in cost for transportation and logistics industries.

The following are some emerging technologies and technique which can provide immense benefits to transportation and logistics sectors.

Business Transformation programmers: Some leading players in logistics industry are initiating custom-based model with industry specific rules and restraints in pricing, asset operations, tactical planning and routing for core operational progression. The logistics industries are giving importance on standard off-the shelf packages.

Optimizing instruments for Routes & Network and Assets: The contributors in logistics sectors require obviousness in a network which may cause due to short-term forecasting, lacking of network reliability and capacity problems.

 

The followings are the rising developments in these areas:-

  • Empty asset optimization and simulation for liner and logistics companies
  • Network Optimization and Simulation
  • Prognostic analytics derived from booking demand data/booking velocity
  • Mobile Asset Management to allow synchronized re-routing/milk run scenario - With the utilization of a network of sensory technologies and attaching this information with booking and route data.

Two-way Business Process Management based on workflow: There are various types of persons engaged in handling a shipment which range from shippers/consignees/carriers/customs agents/customs & regulatory/warehouse agents/truckers/railroad. In order to deal with the shipment efficiently the visibility is required with a SLA/Performance based measurements for every node and every stakeholder route is required. A solitary BPM platform is necessary facilitating various stakeholders to work in tandem professionally and supervise the procedure hand-offs flawlessly.

There is an urgent need to have a single BPM platform that allows multiple stakeholders work together efficiently. This may result in developing superior integration throughout the entire value chain. The system may include the following elements:

  • BPM Engine motivated with SOA
  • Tools for scrutinizing Business Activity
  • Business Intelligence and Performance Dashboards
  • Portals to collaborate
  • Master Data Management cutting across various data domains
  • CRM
  • SCM Visibility/Tracking

In future it will be necessary to create a partner/affiliate network kind of mutual solution backed by business process regulations and SLAs.

Client and Partner Master Data Management with integration potentiality with Identity Resolution Tools, Data Cleansing, Address Validation, Credit Rating and Auto-Hierarchy Assignment services. This will followed by:

  • Enhancing spotlight on BI and customer segmentation
  • Up-and-coming markets will experience a need for rigorous credit rating on both partners and vendors
  • Global Account acquirement and the global account hierarchy management is becoming important for various logistics and freight forwarding players to control, preserve and develop Global Accounts.
  • MDM is considered to be a key component in the ongoing business revolution proposals

The emerging of Cloud Computing: Logistics companies are starting to utilize the benefits of cloud computing. In order to apply the technology successfully the logistics companies must take into consideration the quickly-developing market situations due to trade inequities, capacity limitations, regulatory compliance, rising integrators and new markets. The application of cloud computing may include the followings:-

  • CRM
  • Campaigns and Promotions
  • Carrier Bookings and Rate Enquiry
  • Scheduling
  • Inventory Pool Management
  • Capacity Procurement
  • HR and Payroll

Emergence of online portals: Online load board is very popular among the 3PLS and intermediaries in developed countries like USA and Canada. These types of online portals are also emerging in developing countries like India. Some companies like Suain Logistics are launching their online portals alias www.loadjunction.com to find loads, truck freight and trucks. These types of online portals are the greatest sources for matching loads with trucks. The online load matching system will provide the following benefits to logistics and transportation sectors.

  • Get multi-leg trucking routes, rate shipping lanes and look for truck stops and support system
  • Find real-time rates on various routes
  • Convenient way for truckers and owner operators to search for available loads for hauling
  • A great place for truckers to post their trucking details
  • Offer best possible ways to avoid deadheading for freight haulers to make the most out of their miles on the road
  • Access information online on 27x7 days
  • Instant automatic matching of truck and loads

Author by: Rajib Dey

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