The name Elastic logistics has been making the rounds over the last few years in the supply chain world and is touted as an exciting development. But, what is it and how is it helpful to a freight forwarder?
What is it?
Generally, the word ‘Elastic’ means flexibility to expand and shrink. Similarly, in logistics ‘Elastic Logistics’ refers to the flexibility to expand and shrink each chain effectively and efficiently based on customer demand within the supply chain for a given timeframe. This solution benefits the customers as it is flexible enough to enhance the agility of the logistics infrastructure to match prevailing marketing fluctuations at a cost-effective rate. Elastic Logistics helps the supply chain run with the minimum waste possible as it offers a solution to obstacles like half-full vessels, overstocking in warehouses and even dynamic pricing. In addition, it also plays a pivotal role in traffic optimisation leading to reduce emissions and a green future.
Elastic Logistics is totally a tech-driven solution
Whether it’s freight forwarding or warehousing management, elastic logistics have gained momentum as people are realising its potential and utilising it for major gains. This new technology is insightful as it’s easier to predict volumes within a smaller timeframe and offers the best solution to the customer with real-time visibility. The smart portal, “ MyHub ” from 20Cube Logistics is a huge leap forward into the future as the technology not only helps take care of customers’ requirements but also helps in optimising it with predictive and real-time demand technology.
What can companies do to improve flexibility?
The solution is to find a 3PL (third-party logistics) partner who can help to get cargo or shipment delivered on time, keeping the cost low despite the pressure of demand. Third-Party Logistics offers tech-driven elastic solutions and enhances customer experience which is a prime feature in building loyalty and branding. Such providers will have all technology and processes in place bringing all the necessary features required to bring elasticity in the supply chain thus providing real-time visibility and control not only to the customers but to all stakeholders. With the accurate and right technology, supply chain management can bring in flexibility in processes to provide transparency and visibility. 20Cube is optimising technology and is bringing in flexibility to each customer, according to their requirements, which could not have been possible without the “MyHub” platform.