The shipping industry is undergoing a technology revolution. This age-old industry which, till the last decade, was hesitant to harness new technology, has now taken up all-round modernization with a vengeance.Today, globally, the industry as a whole is exploring and implementing new technology in all spheres of the trade. Ports, ships, systems and processes, and allied services are all getting a technological facelift. The industry’s efforts to digitize are also being aided by startups that are creating tech solutions specially for it. Technologies like Robotics, AI, machine learning, internet of things, blockchain, drones, and augmented reality are being harnessed to create a safer, efficient, and more productive environment to carry out export and import trade.While there are many changes that are happening in the world of shipping – and all are important, here are some that have captured our interest:Robotic Technology: Robots have infiltrated almost every industry in some way or the other. Now, they have turned their tech-eye on the shipping industry. Research institutes and companies in the automobile, transport, tech sector are collaborating to build robots that can aid in ship management, safety, servicing, and inspection.Among these, SAFFiR – Shipboard Autonomous Firefighting Robot, being developed by the US Navy Research Lab in collaboration with Virginia Tech, has caught our interest. And, for a good reason too.&nbsp;Fires on ships can cause huge damage to human life, environment, and the cargo on board. For example in the recent&nbsp;<a href="https://economictimes.indiatimes.com/industry/transportation/shipping-/-transport/fire-on-container-ship-under-control-no-word-on-missing-crew/articleshow/63237662.cms">fire</a> on Maersk Honam, four crew members have been reported missing and insurers are&nbsp;estimating a loss of millions of dollars in claims from the vessel carrying more than 15,000 TEUs.While accidents on sea cannot be completely avoided, loss of human lives and cargo can be, to a certain extent, mitigated by fire fighting robots that are designed to take charge in such situations. SAFFiR which is currently being built for US Naval Ships would be a great addition to cargo and passenger ships as well.<iframe width=" 480" height="270" src="https://www.youtube.com/embed/K4OtS534oYU?feature=oembed" frameborder="0" allowfullscreen="allowfullscreen" style="letter-spacing: 0.01rem;"></iframe>&nbsp;Hyperloop Transport System:&nbsp;Hyperloop, an idea conceptualized by Elon Musk, is a transport system that is designed to carry people or cargo from one destination to another via a tube at a speed more than 700 mph. Along with the rest of the world, this technology has also caught the attention of Prime Minister Narendra Modi and the Chief Minister of Maharashtra Devendra Fadnavis. In February 2018, they&nbsp;signed an agreement with Sir Richard Branson, founder of the Virgin Group and the chairman of Virgin Hyperloop One, to develop a hyperloop route between central Pune, New Pune International Airport, JNPT Port and Pune’s economic and industrial zones. The Hyperloop One will help facilitate quick transportation of palletized cargo and lightweight cargo between the port and industrial zones in Pune. According to&nbsp;<a href="http://indianexpress.com/article/technology/tech-news-technology/mumbai-pune-virgin-hyperloop-one-project-everything-you-need-to-know-5069402/">reports</a>, the proposed hyperloop will provide benefits like reducing accidents, socio economic, savings in time and operational cost worth USD 55 billion over a time period of 30 years. It will also help reduce greenhouse gas emission by approximately 86,000 tons/year, and lessen the traffic load on the connecting expressway. In addition to all these benefits, as Virgin Hyperloop One said on the occasion of the launch, the hyperloop will cut down lead times and help build a leaner and more efficient supply chain.<iframe width=" 480" height="270" src="https://www.youtube.com/embed/OBuVkQIy7eU?feature=oembed" frameborder="0" allowfullscreen="allowfullscreen" style="letter-spacing: 0.01rem;"></iframe>&nbsp;Smart Ships: We have smart gadgets, smart homes, and smart cities, then why should ships be left behind?&nbsp;Ships are set to become smart, tech-savvy, and autonomous soon. In fact, the first smart vessel Yara Birkeland&nbsp;is planned to be launched this year. It is predicted to become fully autonomous by 2020.Automated ships will add a technological edge to the shipping industry by improving efficiency, productivity, and carrying capacity. Since these ships will be remotely managed, the fear of loss of lives of crew members at sea will be eliminated and in a way it will also change the profession.<iframe width=" 480" height="270" src="https://www.youtube.com/embed/5VBD7hVRhx0?feature=oembed" frameborder="0" allowfullscreen="allowfullscreen" style="letter-spacing: 0.01rem;"></iframe>&nbsp;Blockchain Technology: The blockchain technology is now no longer limited to bitcoins. It is being explored by various industries to manage, transfer, and store data in a safe and secure manner. Shipping is also among the industries exploring technology to add efficiency to processes and integrate the supply chain from start to end. The system based on blockchain technology will make it easy to transfer data and track cargo in real-time till it reaches the final destination.Augmented Reality: AR is another technology that can add immense value to the shipping industry. It can optimize cargo planning, aid maintenance and inspection, navigation, connect global teams, and also help in creating awareness about the industry which is not easily accessible to people not connected to it. For example, very rarely does a person not in the industry get to visit a container ship or for that matter the port. AR can make it possible to provide outsiders with a view of the industry. Port360, a virtual tour of the Port of Rotterdam, is one such example of this technology being used for connecting with businesses and also educating people not connected to the world of shipping about the port and how it operates.<img src="https://prod-cogoport.s3.ap-south-1.amazonaws.com/0faa2f99f63fb9e86c4735679a43cb79/BotlekPernis_2.jpg" alt="Port of Rotterdam" class="center" width="" style="letter-spacing: 0.01rem;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Image source: Port of Rotterdam.&nbsp;Click&nbsp;here to take the tourThese innovations are just the tip of the iceberg. Shipping is changing and the speed at which technology solutions are being created for the industry, it would not be wrong to term this period as a rebirth of one of the world’s oldest industries. And, we’re proud to be a part of the technology revolution that is transforming the shipping industry.

Shipping Tech Revolution: 5 Technologies

All India Motor Transport Congress (AIMTC) has called a nationwide truckers strike starting July 20, in an effort to get the government to act on their demands. The strike is supported by more than 93 lakh truckers and around 50 lakh buses, tourist taxi and cab operators that are a part of the association. Other transport federations have also rendered their support to AIMTC. The demands put forth by transporters include a proposal to lower central and state taxes on fuel by including it under GST regime, which would help reduce its price. The transport union is also demanding a reduction in highway tolls and third party insurance premium, exemption in and a toll barrier-free country. The truckers are also pressing the government to end indirect taxes and direct port delivery system, provide exemptions and national permits for all trucks and buses. According to the latest update, all-India loss due to the strike has been estimated at a whopping INR 10,000 crore. While the truckers’ association is adamant about getting their demands met before resuming services, exporters are complaining of loss of orders and business. The strike has already affected cargo movement and if continues it may lead to further delay in transit. As on date, there is no clarity on when the strike will end. Traders are thus advised take the current scenario in consideration and accordingly plan the transit of their shipments.

All India Transport Strike Continues for 6th Consecutive Day

<h3>Trade Deficit – What is this?</h3>A trade deficit, also known as Net Exports, is an economic condition that occurs when the imports is more than the exports in a country. The value of deficit is calculated as the difference in value of goods being imported and the value of goods being exported. This is one way of measuring the International trade of a country and is also known as the Negative Balance of trade.<a href="https://cogoport.com/signup/en-IN/?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" width="auto" style="width: auto; height: auto;"></a>Depending on the circumstances in the country involved, the duration and size of the deficit and the policy decisions made, trade deficit can confer positives or negatives for the country. In the current scenario, United States has the largest trade deficit by far, with an imbalance of more than $7.3 trillion which has been accumulated in the past decades. The other countries that are facing deficit are Australia, United Kingdom, Mexico and Brazil. In the meantime, there are countries that have surpluses by exporting more than they import such as China, Japan and Russia.<h3>What Causes Trade Deficit?</h3>One of the main reasons why trade deficit occurs is when the country fails to produce everything it needs, has to borrow from other countries and pay for the imports. This is known as Current Account Deficit.Trade deficit can also be a result of manufacturing happening in foreign states. The raw materials that are required for manufacturing are shipped overseas to factories in other countries which are considered as exports. When the finished products are shipped back to the country, it is considered as imports. The imports are subtracted from the GDP (Gross Domestic Product) even if the earnings support the company’s stock price.<h3>What are the Pros and Cons of Trade Deficit?</h3>Economists react to trade deficits in different ways. While it implies that the country is living beyond its means and accumulating too much debt, there are reasons to say that trade deficit can be more pro-cyclical and is moving in the same direction as its GDP.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 2.png" alt="" width="300px">Employment Opportunities – When a trade deficit persists in a country over a period of time, it can affect the economic growth and stability. If the imports exceed exports, the domestic jobs will be lost to foreign countries. Even though this makes theoretical sense, it is also said that there will be unemployment at low levels with trade deficit and there can be more unemployment in countries that have surpluses.Value of Currency – The value of currency of a country is directly impacted by the demand of a country’s exports. When the demand for exports of a country falls compared to imports, the value of currency should ideally decline. In other words, trade deficit indicates whether a country’s currency is desired in the world market. Foreign Investments – Trade deficit should be offset by a surplus in the capital and financial account. Nations with deficit experience greater degree of foreign direct investments and ownership of government debt. As a conclusion, trade deficits are not always detrimental in the long run as the currency will always come back to the country in some form or another, such as foreign investment.<h3>What is the Bottom Line?</h3>Theories suggest that that having persistent trade deficits can be detrimental for the economy of a country by affecting the growth, employment and currency. However, countries like the US which is one of the biggest deficit nations has proved this theory wrong, time and again. This might also be because, US is the world’s largest economy and dollar is considered as the world reserve currency.When it comes to developing countries, trade deficit can bring upon a negative impact if it persists for a longer period of time. However, the advocates of free markets suggest that trade deficit corrects itself over a period of time through adjustment of exchange rates. Secondly, when there is competition in the world market, trade deficit is bound to correct itself. Ultimately, the impact of trade deficit will be determined by the consumer preferences.

Trade Deficit Explained: Learn and Understand

Cogoport has been nominated for the FreightWaves&nbsp;<a href="https://www.freightwaves.com/awards/freighttech-awards-2023">Freight.Tech100</a>. I’m so very proud of our team. I love seeing their passion every day. Everybody is working closely together to make shipping goods across the globe easier, more efficient, and more transparent. We are democratizing the process of choosing how you ship your freight, while giving you true comparison capabilities on total landed cost, not just ocean freight cost.Great CompanyThe Freight.Tech100 recognizes the most innovative and disruptive companies in freight. Over 500 companies were nominated and a panel chosen by FreightWaves narrowed the list down to 100.We are in excellent company, with large companies like Amazon, FedEx, UPS, Toyota, and Daimler, but also fellow start-ups like Uber Freight, Loadsmart, GSCP, Peloton, and Thor. <img src="https://prod-cogoport.s3.ap-south-1.amazonaws.com/988f8591c56a18e7938aec378d1b5d18/Cogoport%20and%20nominees.png" alt="Cogoport and other nominated companies" class="center" width=""> Growing, Shipping, HelpingSince we founded Cogoport in 2016 we have kept growing and have been able to help thousands of importers and exporters with shipping their containers in a more efficient and transparent way. We have welcomed over 29 ocean freight carriers to our platform and we are getting close to the 100,000 container mark.That will be another moment to be proud of: 100,000 containers booked through the Cogoport platform. No slow steaming for us!Easier Than Booking a HotelWe are just getting started. We are making booking a container easier than booking a hotel. We want to give logistics and supply chain managers full visibility on their shipments and their cost. Transparency is key. No hidden costs. What you see is what you get. And what you get is peace of mind.Do you want a container brought to you? We can arrange delivery. Unexpected delays? We will help you with an alternative gate-in method. Trans-shipment issues? We will communicate directly with the carrier, notify all parties involved, and try to solve it if applicable. Want help with customs clearance? Consider it done. Need the container delivered to your end customer? We can arrange that as well.We are committed to add value to all stakeholders. We do that through technology. Technology is in our DNA, and we use it to make sure you save time and money at every stage of your (cargo's) journey.Search – Book – Track – RelaxThat’s it. And now I’m going back to innovating and disrupting.Photo by&nbsp;<a href="https://unsplash.com/photos/TamMbr4okv4?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Ian Schneider</a> on&nbsp;<a href="https://unsplash.com/s/photos/innovation">Unsplash</a>

Cogoport Recognised in the Freight.Tech100

Logistics management can be rough. But the digital transformation in the supply chain industry is increasingly a quick solution.The freight forwarding industry has caught up with the wave of digitisation that has been pervasive across the rest of the sectors. The traditional ways of doing business are being replaced by modern solutions which have opened up various avenues for a tremendous amount of growth. This transformation has helped shipping organisations keep up with the intense pressure that comes with the increasing demands of today’s customers.Although the entire industry has benefited by migrating to digital solutions, the work of specific individuals has also been made easy — especially a logistics manager, who deals with a wide range of responsibilities daily. Let’s have a look into how adapting the digital ways in the logistics industry has helped a logistics manager. However, before that, let us understand what does a logistics manager do.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 3.png" alt="" width="300px">What Does a Logistics Manager Do?A logistics manager takes care of your goods while they are shipped from the source to its destination. However, how they do the job can often vary. They might focus on transport, or cover everything from booking containers and planning transportation to taking care of all the documentation and customer communication.Whatever the scope of the role, it comes with a range of challenges that call for detailed knowledge of supply chain management and a fair amount of resourcefulness.The ChallengesAt the heart of the daily challenge of logistics manager is the need to keep end customers happy.Every customer may have different shipping requirements. While some might need just a container, others might require the whole package. Whenever asked to book a container or transportation, the logistics manager needs to provide the best rates to its customers, for which he has to hassle a lot. Every shipment requires them to negotiate with the suppliers and provide a separate quotation which might take hours to generate, not the amount of time customers are ready to wait.Additionally, the shipping process involves many documents. Every paper received since the booking of a container needs to be kept track of. With multiple customers, there are chances of paperwork piling up. Misplacing even a single document can lead to delays in the arrival of the shipment, and in some cases, cancellation too. This affects both the business of the customer and the reputation of the logistics manager.Furthermore, customers expect full transparency from their logistics manager. They wish to be aware of the location of their shipments at any given time. To provide them with this information, the managers have to go through much trouble contacting the respective shipping line’s customer services every step of the way. Hence, shipping tracking for the customers is an issue logistics managers face daily, as it is directly related to a customers satisfaction.Lastly, keeping up with the variety of demands has also been troublesome for the logistics managers. Earlier, a customer’s logistics requirements were limited to one form of transportation. Nowadays, that is not the case. Instead of taking care of the goods from port to port, customers demand the logistics managers take care of the products from warehouse to warehouse. This means that they are required to provide trucking services too, which increases the work even more as trucking services becomes a whole new area to be managed.How Can Digitisation Help?Innovative players in this industry have realised that digitisation is providing efficient solutions to many of their problems. Logistics managers have turned to digital platforms like Cogoport to deliver more benefits to customers.With the help of these platforms, logistics managers can provide different freight rates to the customers instantly. The platform can quickly fetch the rates that are not available at the given time. Quotation generation for a shipment, that earlier used to take up to 48 hours is now available to the managers at one click of a button.Digitalisation can also make the crucial task of managing documents easier. A database is provided to the logistics manager where they can save all their documents and access them anytime they want. This ensures then even if a paper is forgotten or lost at any point of time; the manager can find it on this platform, hence securing the documentation process. If ever the customer wishes to view any document, they can always be given access to this database.By providing facilities such as real-time tracking, these platforms give the logistics manager the luxury of offering their customers with the real-time location of their cargo. Furthermore, by the use of certain onboard sensors, the condition of the cargo can also be monitored.Keeping in mind the increasing transportation duties and responsibilities of a logistics manager, digital platforms have made themselves a one-stop for all their needs. Including other forms of transportation such as trucking services has ensured that managers can fulfil every aspect of their order at one single place.What Does this Mean for the Shipping Industry?It can be safe to assume that putting methods of digital shipping into practice has a profound advantage over the traditional methods. Providing customers with a hassle-free platform satisfying all their logistics needs draws a clear blueprint for success. Logistics managers make up only a fraction of people who benefit from this change.We at Cogoport saw the need to make freight shipment easier for everyone and decided to ride this wave of digitisation. Implementing cutting-edge technology to solve the logistics-related problem, we aim to take this trillion-dollar freight industry online. If a freight forwarder is who you are, then we welcome you to do your business the digital way, here at Cogoport.

Going Digital: Journey of a Logistics Manager

<h2>Our Focus</h2>Cogoport accelerates the creation of value in global supply chains, fundamentally transforming how users engage, leveraging transparency and efficiency, as witnessed by a rapidly growing number of platform users.<h2>Customer First, Always</h2>Our technology team continues to build a world-class customer experience, and in this post, I would like to introduce our latest team addition, Flemming Frost, a business veteran whose experience will support and complement our tech-savvy product- and operations teams.With more than 35 years of business experience from the transport and logistics industry, earned in senior positions during three decades at Maersk / Damco (Copenhagen, Shanghai and The Hague), and more recently at Tesla (Silicon Valley), Flemming is well positioned to make Cogoport more customer centric, listening to feedback, not only through customers’ behaviour on the platform, but also engaging face-to-face. This is critical to our continued innovation and ambition to be inclusive.Flemming highlights: “I am excited to join Cogoport and see great opportunities to further the mission in areas like:·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Creating a global community bringing the best opportunities to all Cogoport users·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Achieving sustainable efficiencies through deep integration·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unlocking value by innovating and automating end-to-end processes·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enabling data-driven market- and performance transparency.”<img src="https://prod-cogoport.s3.ap-south-1.amazonaws.com/8d51b2f9bb66b7c864b359771232abf6/download%20%282%29.jpeg" alt="download%20%282%29.jpeg"><h2>The Only Way is Up</h2>Cogoport is accelerating the global growth, and Flemming’s experience in managing, developing, and improving complex logistics operations and turning suppliers into partners will make a difference to all Cogoport users. As Flemming sums it up:“For all users, Cogoport a single, independent platform across transport providers, a one-stop shop where shippers have full visibility of available options and all their shipments, a platform on which they efficiently and quickly can book containers”, adding: “Carriers get real-time visibility of demand, a very low acquisition cost, especially for small and medium-sized customers, as well as a lower cost to operate such business. Combined, this enables carriers to optimize their positioning in each trade.”Reflecting back on his years in the industry, Flemming adds:“I wish I had this platform at my disposal for the past 35 years!”.Naturally, we won’t argue with him.<h2>Welcome on Board</h2>In short, I’m happy to announce that Flemming Frost is our new President of Supplier Relations &amp; International Growth. He will work to further develop our partnerships with carriers and other suppliers, and to further our mission to simplify freight.Go team!

Cogoport Welcomes Another Passionate Team Member!

As one of the fastest growing startups in digital freight, we are always looking for bright people. One of our recent hires is Saurabh, who joined the Cogoport team to help out the business development team. He wrote a blog post about working at Cogoport.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 1.png" width="auto" style="width: auto; height: auto;"></a>And now over to Saurabh:Life at CogoportI have been a Cogoport intern for the past couple of weeks now, and so far, it is unlike any of my other internships or professional experiences. The learning curve is huge, but the opportunities for learning and growth are endless. I remember applying for internships and Cogoport stood out to me because it was a startup that had come up with its own unique idea and was trying to break the status quo in the enormous logistics industry. Also, I have always dreamed of having my own business and could not think of a better place to learn from. At Cogoport I am a business development intern and am tasked with bringing in new clients as my primary responsibility. My development and progress are overseen by Varun Mahendru, the Regional Business Head at Cogoport.All Together NowCogoport has a defined hierarchy, yet it does not show. The heads of various departments, employees, and interns all sit together in the office. If a stranger was to walk in then they may not be able to tell us apart. It helps promote the culture of learning and taking on responsibility. The heads lead by example, and everyone in the office has always taken initiative and followed suit.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" alt="" width="300px">New Skills for New BusinessI had always heard that start-ups are a lot more hands-on, and I’m excited to be able to experience it first-hand now. This really came to light when in my second week as an intern Drupad Goswami, who is Head of Sales at Cogoport, called in the evening informing me that we would be going to Morbi (an industrial town) to conduct a drive that would get more clients on board.Diving in at the Deep EndSo far, I had spent one day calling clients, and one day meeting them. Now, I was being thrown into the deep end and had to attract clients who could bring a lot of business to Cogoport. As I said, the opportunities to learn and grow were immense.With coaching from Drupad and Varun I had my pitch locked down after the first couple of meetings in Morbi. After conducting over 40 meetings over the course of two days, I’d managed to get 12 new clients on board. My numbers were pale in comparison to the more experienced members of the Cogoport team in Morbi, but for someone who had been a part of the company AND industry for slightly more than a week… I was proud of the result.We Have Lift-off!After returning to Ahmedabad I was feeling much more confident when reaching out to potential new clients. There was no more nervousness. I was sure in my knowledge of the platform and industry.Cogoport was able to help me in accomplishing all this in a matter of two weeks. I’m eagerly waiting to see what I can learn and (hopefully) accomplish over the next two and a half months!

Cogoport Intern: Day in the Life!

Online market has made our lives easier than ever before. Online platforms offer everything from electronics, apparel, food to services such as healthcare, beauty, domestic needs etc., at the ease of your doorstep. It has become common for people of all age groups and backgrounds to use mobile applications and websites to satisfy their daily needs and cravings.
<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank" rel="noopener"><img style="width: auto; height: auto;" src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 3.png" alt="blogs_whatsapp_banner" width="auto"></a>
However, there is a sector which still remains unorganized and to a great extent, offline. The freight industry is huge and in most of the countries, the potential of this industry is still untapped. Making it an online marketplace could make the lives of vehicle owners and transporters easier by providing them a platform to connect with their potential customers and businesses directly to avail their services.
A slower rate of digital adoption by the Logistics industry brings in enormous risk even for the bigger players in the business. Over the next few years, the essential concern will be the race to build a dominant global platform that would determine the winners and losers in the truly digital freight industry.&nbsp;It would also mean letting smaller companies to have a global reach and to compete with the industry&rsquo;s established giants.
The following are the benefits that digital transformation of Logistics industry would bring about to the business as well as social and environmental aspects.
<ul>
<li>Digitally enabled information services puts data at the heart of the Logistics business with the help of initiatives like analytics and logistics control towers that helps in reducing the operating costs and in improving the efficiency of operations.</li>
<li>Digital adoption of freight industry will help in trade growth by creating digitally enhanced cross-border platforms. As a result, logistics companies can satisfy the growing need of customers for same day deliveries, and promotes the concept of city logistics which will give them an entry to mega-cities.</li>
</ul>
<img style="width: auto; height: auto;" src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-2.png" alt="blog_banner" width="auto">
<ul>
<li>Technologies such as 3D printing and Crowdsourcing offer ways to create and practice newer means to process logistics. By harnessing concepts like autonomous trucks and drones, the delivery capabilities will increase and shipments will be efficiently processed and delivered.&nbsp;&nbsp;</li>
<li>Regenerative systems will foster more sustainable product life cycle, whereby reducing the environmental footprint by this industry, as the carbon dioxide emissions and air pollution will be under control.</li>
<li>If the enterprises take the initiative to analyze big data streams, they can derive new insights that can improve the operational efficiency and enables the launch of services like &lsquo;last-mile delivery&rsquo;. This requires companies to collect data along their value chain.</li>
<li>Digital transformation brings about shared capabilities such as shared warehouses, shared transport capabilities that will increase the asset utilization and saves a lot of time and energy.&nbsp;</li>
<li>Retailers get better insights about their customers through digital touch points. It also enhances the visibility of shipments that are both internally and externally sourced.</li>
</ul>
Industry stakeholders should take notice of the benefits and come together to prioritize digital transformation initiatives, given the potential for significantly higher value to be created for society and for the freight industry.

Learn and Discover with Cogoport

Latest posts