Top 4 technology trends in freight forwarding

Posted by

Karthipriya S

Freight forwarders play a vital role in maintaining the integrity of the logistics supply chain network as they connect the shippers and carriers to ensure enhanced customer service. However, the complete potential of freight forwarding is not unleashed yet due to various issues such as trucking congestion and longer shipping times. To overcome these problems, the freight industry has to start considering the latest technology trends and make use of the same.

Here is a look at the best technology trends and how their application can do good to freight forwarding businesses.

Online platform
With a digital freight forwarding platform, it is possible to connect all the stakeholders in the supply chain network – from shipper to the end customer – and establish an integrated logistics forum. This, in turn, eliminates the communication gap between them by automating everything from quote generation to shipment scheduling and improves overall business efficiency.

Internet of Things
Internet of Things (IoT) makes sure everything stays connected. With its massive market scope, it is expected to connect about 50 million objects in 2020 which was just 5 million in 2017. The application of IoT in freight forwarding makes way for tracking freight condition at any given point of time, unlike the conventional practice which relies on barcode scanning to track freight.

Cloud technology
With GPS-powered cloud software, real-time visibility becomes a possibility. As the stakeholders are facilitated with live freight tracking, freight forwarders do not have to spend time on proactive calls regarding freight movement. This saves a lot of time besides being an economic option. Also, as all the business data can be fetched from the cloud storage, there is no need for manual recordkeeping. Cloud technology paves the way for paperless transactions which is, of course, a milestone in freight forwarding.

Machine learning
Advanced machine learning is one of the major trends that can do good for the freight industry. It analyses the available business data and comes up with useful market insights to improve the efficiency of freight forwarding businesses which, in turn, boosts your revenue in the long run. For instance, logistics players can harness predictive insights and identify optimized routes with machine learning technology to prompt proactive action and quicker last-mile delivery.

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