According to the American Trucking Associations, freight tonnage hauled by trucks would increase by 27% (between 2016 and 2027). With global retail sales to touch $27 trillion by 2020, it just adds to the problems of high volume and restricted resources. Most of these companies would win or lose based on how they optimize their last mile deliveries.
Technology has enabled us to record, plan, allocate, dispatch, track, validate, and analyze all freight movement from a single dashboard with clear and real-time actionable insights in an easy-to-understand format. This leads to an agile, reactive, and dynamic setup for a company’s transportation management system.
The U.S. government shut down at midnight on Friday, 19th January, 2018, after Democrats and Republicans, locked in a bitter dispute over immigration and border security, failed to agree on a last-minute deal to fund its operations. Democratic leaders wanted to include protections from deportation for about 700,000 undocumented immigrants who arrived in the United States as children.
Jack Ma inaugurated the world’s first Digital Free Trade Zone in Malaysia to boost e-commerce and small to medium size enterprises (SMEs) in Southeast Asia. Considering Malaysia’s proclivity in the Asian region, This Digital Free Trade Zone (DFTZ) would act as a perfect platform for physical and virtual business set-ups to leverage the recent boom of online businesses. Malaysia’s DFTZ is set to handle more than $65 billion worth of goods at full functionality.
One of the largest Consumer Packaged Goods (CPG) companies in the world increased the on-time deliveries by more than 60% while decreasing their resource cost by 18% and increasing their utilization by 30%. This increased the overall value (return on investment) of each resource to an amazing 58.5%. How did they do this?
Field service management and logistics management have grown, as an industry, at 18% CAGR. How has this part of the economic world been immune to global market fluctuations? It’s simple. Logistics movement is an integral part of the business model of every company. You have a product or a service, you must take it to the market or bring the customer to your market.
Logistics management has transformed itself in the past half of the decade backed by intense development in machine learning capabilities and data analytics. With the level of integration unleashed by Internet of Things, you can not only track the real-time location, speed, and fuel usage of your in-transit delivery vehicle, but also the calmness of the driver. Your real-time vehicle tracking can be covered by new-age routing and optimization software, whereas the calmness of the driver can be tracked through various wearable technology.
The war is on. The lines are drawn. Retail and e-commerce have locked swords. Which side are you on? If these thoughts seem ominous to you, then don’t worry. There is peace ahead. Retail vs E-commerce is a new but heated battle. They are different, but not that different.
Location Intelligence & Analytics has now become a core data source that helps in contextualizing of location-centric data, so that meaningful insights could be derived from the same and strategic business decisions could be made. It has emerged as one of the major segment in the field of market research.
What is ‘innovation’? You may have heard the term fly around in business meetings, but what does it really mean to the chief strategist of the company? Innovation means, approaching a problem or an inefficiency from a different angle or viewpoint to derive more value from it. To put it a straight war, innovation is to create or harness more of what you already have.