How can digital tools influence the transparency of logistics costs

Digital transformation is happening everywhere, from travel to retail, and even education. Technologies such as electronic messages, smart data-sharing platforms, blockchain, the internet of things (IoT), augmented reality (AR), and artificial intelligence (AI) are transforming almost every industry.

Start-up companies and micro-trends are also shaping the future of the logistics industry, and are doing it much faster than the traditional logistics players. Online marketplaces such as Freightos, Searates, and Shipnext let shippers and logistics providers meet based on preferences, requirements, and budget, allowing them to work more transparently. These marketplaces come in especially handy for fuel and freight, which make up nearly two-thirds of logistics costs. Supply chain and logistics managers need to optimize these costs to improve the bottom line, but shippers need increased efficiency and transparency. Transparent and accurate data could help shippers react to market changes more proactively and effectively manage transportation costs and outcomes. By gaining increased transparency into fuel and freight expenses, shippers could develop a transformative strategy for their organization.

With access to the right data, shippers can also gain deeper insights into freight flows, capacity supply and demand at origin and destination, and the variables that impact price in different regions. The correct data makes outcomes measurable and allows shippers to craft better solutions. At the same time, well-built relationships with logistics counterparts can improve not just the quality of transportation within a single network, but across the entire transportation industry as well.

However, technology and digital tools alone are not enough.  It is also a matter of connecting technology with processes, data, and relationships. It takes intelligent process coordination to ensure the right information is reaching the right person at the right time, and smart data to ensure smart decision-making. 

Export Portal aims at providing a platform where small and medium-sized shippers from all over the world can confidently trade, network, and communicate with their counterparts. We dedicate ourselves to providing a secure, transparent, and cost-effective environment empowered by our proprietary blockchain technology. For more information, make sure to check out our site!