For people working in logistics, there’s a chance that your field of work will look very different in years to come. This is because technological advancement in logistics is happening so fast. However, the current technological revolution is nothing like the ones in the past. This time around, we don’t require investing in millions of dollars’ worth of equipment. The current revolution is more information based and its success in logistics and freight solutions will depend on your attitude towards it. This time, it’s not about being bigger and richer but rather, faster and smarter. Below are some of the trends that are shaking up the freight industry.
Although this technology is still in its early stages, it is already on course to revolutionize the freight industry. Internet of Things (IoT) comprises of a reader, database, a chip and a clod based GPS system. These four elements are supposed to communicate to each other creating a detailed outlay for improved operations. Using IoT, the freight industry can effectively track and verify the conditions of shipments. Using IoT, shipments can be received automatically since confirmation receipts no longer require scanning.
Advanced machine learning is a leading technology giving the freight industry a competitive edge. This is one of the amazing freight solutions tool uses data analysis to create patterns important in decision making. These patterns are generated using predetermined computer-based reports. The market insight from advanced machine learning allow for more efficient operations. Using advanced machine learning, data analysis does not need any human intervention. Machine learning works effectively with supply chain management. For example, machine learning can analyze data on thousands of trucking runs and recommend the most productive routes.
The freight industry has experienced an increase in the capacity of private fleet that has become more available. Using cloud based solutions, freight companies are able to leverage the cost of handling empty containers without investing heavily in IT infrastructure like it has always been. This is made possible through the deployment of cloud-based pay-per-use services. Combining mobile applications with cloud-based services enables freight companies to cater for both small and large business enterprises.
Connected applications are a necessary freight solutions tool since freight companies require an effective means of data transmission. Effective data transmission is crucial in logistics. With the advancement in technology, it has now become possible for various applications to communicate in both inter and intra-business scenarios. Traditionally, the logistics industry has relied on EDI as the main communication mode. However, the growing need for better freight solutions amid emerging challenges require that data in the freight industry be transmitted in real time.