New Technologies Paving Way for New Avenues in Logistics Industry
Sometime back, the logistics companies in India were known to have a laid back attitude, it was such that even adopting a new technology was a slow start, but with the latest advent like IoT, Data Analytics and Big Data the logistics companies have changed paths and transformed the way the sector works. With that, they are setting new benchmarks for other industries.
How did it all start?
It started with technologies like IoT (Internet of Things) allowing sensors and indicators embedded on the moving trucks which made tracking easier and the results showed cost optimisation, operation efficiency and control. Not only that, the tracking becomes quick, accurate, secure and predictive. It actually creates two-way communication between the supplier and the driver, as it reduces the cost and offers good visibility to the freight forwarding and logistics companies.
Similarly, the use of micro apps on tablets and smartphones can help drivers to find the weather updates, alternate routes around congested areas and much more.
Two more technologies that are creating waves are Big Data and Data Analytics. The whole process and transaction from purchase order to delivery and from quote to receipt is recorded, generating a huge amount of data. This data provides wonderful insights and patterns for decision making using data analytics. These insights help in further optimisation of cost and increased efficiency in operations.
What do you get using modern technologies:
Best of worlds, market place and owned fleet: Whether its own fleets or leased vehicles from the market, freight forwarder and logistics companies will face many challenges, but with the tech platform, it connects both the models, and sets unique solutions for maximizing the overall opportunities and lessening the challenges for both the customer and provider.
Unique buying advantage: The technology platform various stakeholders from various industries together into one platform and it creates a huge user base and target audience for other industries. It will give unique buying advantages. For example, in the integrated platform, a small transporter can take control of the platform to procure accessories and spare parts at a reduced price while reducing on his operational costs.
The SaaS model with benefits: With the SaaS model, it is easy to bring together various segments into one platform that can help channel the demands created at one point to match the supply created at the other point. For example, the platform created using SaaS can help small and medium transporters as well as cater to managed services at the same time.
The new technologies advent does not stop here; the possibilities are huge when played with them in the accurate manner and 20Cube Logistics has left no stone unturned to utilise it to maximum potential.