How is Technology Changing the Philippine Freight Forwarding Industry?
The worldwide digital transformation is positively impacting the Philippine freight forwarding industry by enabling them to streamline their operations and improve deliver. Increasingly, global companies are implementing new software solutions, Artificial Intelligence (AI), and Internet of Things (IoT) technologies to streamline their operations, cut costs, increase efficiency and boost visibility into freight forwarding. The Philippines freight forwarding industry is also undergoing a digital transformation. Although it is still an emerging m…
What Does it Mean to be Frictionless in Freight Forwarding?
A simple answer is when the information flow and collaboration between people and processes are seamless without any interruption which facilitates a smooth and intuitive user experience. In freight forwarding and logistics, a whole lot goes in the background, including strategic logistics planning and execution for the international movement of goods, freight rate negotiations, container tracking, customs documentation, freight consolidation, and so on. Moreover, the user experience does not just depend on only external stakeholders such as t…
What is Beyond Digitalizing Logistics?
Digitalization in the freight forwarding and logistics industry is in full swing. Logistics service providers are stepping up their digital transformation game with digital freight platforms. The digital platform is opening a whole portfolio of new opportunities that can connect all the stakeholders across locations and enable secured data exchange among them. The long-term effect of the freight digital platform can be immense. However, how much you are adapting to the digital transformation is going to decide your secured position in the mark…
Importance of Integration of Operations with Finance in Freight & Logistics Business
Business success is always the outcome of an enterprise’s ability to manage its finances efficiently. For a logistics service provider (LSP), a watchful eye on the financial flows of the company can generate much-needed cash in-flow and improved ROI. A sound financial management module that creates a centralized robust financial information system can stimulate growth by enabling enterprise-wide control and helps in reducing costs. At the same time, a good operations module built on a freight platform helps to improve productivity and efficien…
Driving Profitability in Logistics
We expect all our businesses to have a positive impact on our top and bottom lines. Profitability is very important to us or we wouldn’t be in this business” – Jeff Bezos, Founder & CEO, Amazon.com As very rightly put by Jeff Bezos, profitability is the primary goal of all business ventures. Without profitability, the business will not survive in the long run and so driving profitability is very important. Theoretically, increasing profitability is very simple – all we need to do is to work towards increasing revenue and reducing expendi…
Reinforce Freight Forwarding by Introducing Automation
Freight forwarding is deeply complex. For SME forwarding companies, competing for higher profit margins only adds to this complexity. Lowering prices may suit your customers but isn’t it edging you towards loss-making? In the recent past, a typical international freight movement involved over 10 parties, each with its system and processes. Today, that number is down by much. But you get the idea of the length and depth of effective collaboration between all parties. If I narrow down to the crux of today’s freight forwarder’s problem, we arrive…
Applications of Artificial Intelligence in the Freight Forwarding Industry
As the world is overcoming the pandemic-induced disruptions and seeing increased trade flow, the freight and logistics industry is facing challenges like never before. So to meet the evolved customer expectations and the pressure of implementing advanced technologies they need to focus on strengthening their supply chain and logistics capacity. At this point, leveraging (Artificial Intelligence) AI successfully can help to maximize efficiency in freight and logistics operations. According to research by McKinsey, the successful implementation …
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