Digital freight technology start-ups have developed progressive cargo management platforms for supply chain teams. These platforms help the teams supervise their entire rate procurement, track shipments in real-time, make optimal data-backed freight decisions, and analyze logistics performance and expenditure online.
FREMONT, CA: International freight forwarding is lined up to become the latest division to experience a swift transformation through technological innovations due to the rise of digital start-ups that are drawing billions in funding from venture capitalists. Conversely, until a few years ago, not too many technologies paid attention to the age-old industry that has been the backbone of international trade.
Carrier and Freight Forwarder Dynamics:
Maersk, one of the largest shipping lines, invested in a trucking technology platform to further optimize its services. Also, CMA CGM, another top carrier, has started using smart containers that transmit real-time data depending upon the container position and condition. Moreover, airlines are digitizing rapidly too. For example, one airline company has tied up with an international freight technology firm to launch a digital instant price and booking system. Therefore, carriers will continue to invest in online price quotes and end-to-end competencies to further augment their service offerings.
On the freight forwarder side, many multi-national businesses are looking at making acquisitions to amplify their market-share and perk up their technology solutions as they look to benefit from the digitization wave. So, most other small to medium forwarders are required to tie-up with digital freight market-places to make sure they can step up into the future or be risked on being left behind.
The Digital Disruptors:
Digital freight technology start-ups have developed progressive cargo management platforms for supply chain teams. These platforms help the teams supervise their entire rate procurement, track shipments in real-time, make optimal data-backed freight decisions, and analyze logistics performance and expenditure online.
As these start-ups grow bigger, hoard their own customer data, and the freight community creates more interest groups to scale industry-wide performance, the array of technology-enabled services will advance resulting in more competence across the freight industry. Furthermore, as carriers digitize their service offerings, one can expect to see more integration between digital freight start-ups and carriers on instant pricing and bookings. Lastly, firms can also wait for more flourishing roll-outs for new-fangled technologies such as blockchain as the industry begins its journey toward paperless shipping documentation.
