THANK YOU FOR SUBSCRIBING
Continuous supply chain interruptions offer significant risks to any carrier. Last year, major port strikes occurred, natural catastrophes disrupted regional transportation, the pandemic affected worldwide trade, supply chain bottlenecks impeded the delivery of crucial products, and the sector narrowly avoided a historic rail strike.
Fremont, CA: The world has been taken by AI. AI dominates headlines and dinner table talks worldwide, causing interest and controversy. Once-obscure future technology has made its way into the hands of everyone, and people are producing anything from novels to award-winning art.
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Of course, AI is not a new concept. The recent surge in interest in AI originates from new applications and ease of access. Until recently, most people knew that AI and other developing technologies, such as machine learning (ML) and Power BI, were making inroads in the technology sector. However, it is now widely available to everybody, notably the transportation and logistics industries.
Here are the reasons why employing logistics technology is beneficial for organizations:
Lower costs
For years, the standard practice in logistics was to shop around a few carriers, locate a viable alternative, and ship using them until something catastrophic occurred.
While this is beneficial to carriers, it is detrimental to shippers. As a result, shippers cannot access a larger market of possibilities, many of whom may be less expensive, simply because it is cumbersome to continue browsing.
TMSs now include carrier rate shopping, letting shippers choose the best pricing and route for each cargo. In a tight economy, the cost savings enabled by modern technology might be the difference between breaking even and earning a profit. A data and technology-savvy 3PL partner will control expenses.
Greater visibility
For a few years, "real-time visibility" has been a bit of a term in the transportation and logistics business. It's now a reality, and as consumers become accustomed to tracking their shipments, B2B clients demand to know where their goods are at all times.
This would not be conceivable without modern technologies. Many shippers can only reply, "It's on the way," and customers are constantly saying, "That's not good enough."
Enhanced agility
Continuous supply chain interruptions offer significant risks to any carrier. Last year, major port strikes occurred, natural catastrophes disrupted regional transportation, the pandemic affected worldwide trade, supply chain bottlenecks impeded the delivery of crucial products, and the sector narrowly avoided a historic rail strike.
For shippers who still manage shipments manually, any of these occurrences can substantially impact their bottom line when shipments go missing, fail to meet deadlines, and customers hunt for other suppliers. On the other hand, shippers can immediately pivot when interruptions occur thanks to modern technology that provides real-time insight.
More in News