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 …
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. …
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