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 …
3 Burning Questions for Freight Forwarders today
Whether it's the first month since starting your company or the second decade, you'd always look to improve your service quality and gain more profit. Unless your business is a monopoly, the constant chiseling of your processes and evaluating your systems must be an ongoing activity. And if you are a freight forwarder, dealing with regular disruptions battles, your business improvement process doesn't get any easier. By navigating the constant dangers, you can only stay afloat. But to just survive is no longer the agenda for forwa…
How Cloud-based Freight Forwarding Solutions are Driving Revenue
A lot of apprehensions can go into when deciding to upgrade technology for your company. There could be questions about the usefulness of the software, how quickly can your users get accustomed to it, or even justifying the entire investment. Considering the speed at which the freight industry is growing, your delayed decision on the technology upgrade may cause you to stay behind in the competition. The inspired rush to adopt technologies like cloud-based freight solutions during the pandemic gave companies a glimpse of the endless possibili…
How To Effectively Leverage Freight Data
Making sense of your data is both beneficial and necessary. It's because data gives you clues. Clues from the past transactions. Clues on what's currently happening in your company. And even on how to go about when your plans won't work as expected. If your company has not yet been able to make data work for you, don't fret. A recent survey shows that only less than 20% of companies have fully utilized data analytics at scale. Freight forwarding is naturally a data-rich industry. For starters, every customer's shipment …
Raising the bar with excellent customer experience in logistics
The recipe for a successful business has customer experience as one of the major ingredients. Customer service has long moved from "good to have" to a "must-have". The realization that good customer experience is conducive to growth and faring better in competition has companies investing increased resources towards it. According to Gartner's research, 89% of companies now expect to compete mostly based on customer experience. The demand for a heightened experience emanates from the tech-savvy and informed customer. …
Top 10 Strategies to reduce freight cost
Implementing cost-cutting measures could be taken up by companies for many reasons. Usually considered the ultimate step during dwindling revenues, cost-cutting can also be implemented to increase profit margins. In the freight forwarding industry, the number of costs is aplenty. But not all costs are controllable. Having multiple costs allows you to reassess the underlying factors influencing them. Once you have identified the underlying factors, the next step is to streamline and incorporate them into your processes. It might be a lengt…
Four steps for making your freight business responsive to the competition
For businesses, challenges are never-ending. Challenges keep businesses on their toes and prevent them from getting complacent. When constantly challenged, depending on the preparedness of your company, you could either emerge victoriously or crumble. One such endless challenge for forwarders is - competition. For freight forwarders, the competition is not just from the big fish but from the startups too. By understanding how competition is a threat to your organization, you can only safeguard your current position. Just like the saying goes…
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