Top 5 freight and logistics trends

Freight forwarder, this term ought to be familiar to you if you’re into the vehicle or import-trade business, with this assistance partner degree specialist or a sending organization that assists with orchestrating the shipments from one objective to an alternate. They utilize various vehicle modes like rail cargo, airship cargo load, street transport, and sea cargo.

Choosing freight services - 79830849In the event that there is any load showing up at the port and it should be moved to another place, at that point, a cargo forwarder orchestrates transportation for the equivalent. Here the merchandise is by, and large conveyed in holders. The transport rates rely on the sort of products and amount. This assistance is taken care of on the homegrown just as worldwide level.

For global shipments, the freight forwarder needs to make and handle custom documentation while following different guidelines.

Infographic created by Track Your Truck, a GPS vehicle tracking devices provider 

Sharing Economy Disruption

It is expected for the global economy sharing to reach up to 335 billion by the year 2025. Hence there will be a huge impact on the shipping and logistics industry as well, similar to hospitality and mobility. Today customers are getting more tech-savvy, and they are expecting their services at the tip of their finger and faster as well.

Due to this, there is a huge demand for same-day delivery of the goods by customers. There are a higher number of collaborations expected in the coming years to fulfill these demands to support this growth.

Warehouse Management by Robotics

Since the time of invention, AI has started capturing almost every industry. These technologies are implemented to create automation and reduce human efforts. The eCommerce sectors get dispatched in lacs almost every day. Hence it is practically impossible to hire a huge amount of human resources.

They have started moving to the robotic system where the warehouse management will be taken care of automatically. Some of the eCommerce companies have even started executing the deliveries through drones with the help of technology.

Pay for each service.

Gone are the days when there used to be annual or biannual contracts of shipping and logistic companies where the services consumptions were unlimited. Today they purely work on a pay as you get mode, and they have also started charging for each of their services no matter how minute it is.

The best example we can discuss here is amazon who charges only you wish to dispatch any particular product. Here they charge for each service right from warehouse management, customer service, and even for the transportation.

Entry of Blockchain

Blockchain is known to be a ledger technology that helps to store data globally on many servers. Here everyone who can access these servers will be able to see if there are any changes getting done on the data.

Considering these benefits, many shipping and logistic companies are also adopting blockchain technology for their worldwide operations. Even though everything works online still many shipping companies face some errors in transactions. With the help of blockchain, these errors can be easily avoided.

Simplified Omnichannel Shipping

Omnichannel Shipping is a huge shift in the shipping industry, especially for eCommerce service providers. Omnichannel Shipping comprises various delivery channels in the supply chain process. Here right from inventory, delivery, fulfillment to the return, everything would be taken care of through the integration of various technologies with retailers and the logistic service providers. Here the data would be shared across all the individuals participating in this integration.

Elastic Logistics

With Elastic Logistics, the shipping companies are able to plan their supply chain strategies to fulfill the fluctuating demand pattern of the customers. This Elastic logistics concept is supported by Machine learning, AI, IoT, and advanced analytics. It helps with minimum hidden charges and superior customer service.

The current evolution of technologies has been a major reason for the change in the business pattern of these shipping companies. The companies with the larger distribution network such as are being benefited a lot due to the technologies like blockchain, drones, Robotics, Machine Learning, the Internet of things, and augmented reality. This is just the tip of an iceberg. There are many trends that are evolving almost every day. The freight forwarding and Shipping industry is changing every day.

Interesting Related Article: “Pros and Cons of Working with Freight Forwarders