Many solution providers also incorporated fanciful technologies. However, for a trillion-dollar industry to adopt and transform is a long and complex journey. In this article, we will shed light on the technological innovations that are truly making the lives of logistics professionals simpler.
Freight management is a critical component of supply chain optimisation. Its importance and popularity have grown over the last year. We hear buzzwords like digitalisation and supply chain visibility in our community and even in the news. Many solution providers also incorporated fanciful technologies. However, for a trillion-dollar industry to adopt and transform is a long and complex journey.
In this article, we will shed light on the technological innovations in transportation management systems (TMS) that are truly making the lives of logistics professionals simpler.
Many of the ERP system vendors offer fully customised enterprise software, but it takes years to implement and could be heavy on costs. Organisations that are more agile and willing to adopt simpler software that solves the real pain of the operators tend to opt for specialised solutions, such as transportation management systems (TMS) to procure and manage freight.
Current TMS solutions already tout advanced features like procurement, rates management, track and trace and advanced analytics. However, the ability to integrate with logistics service providers and existing software that shippers are using become critical. We previously discussed how organisations can land and expand when it comes to integrations. Technological advancements have lowered the barrier to systems integration. Organisations can enjoy more flexibility and plug-and-play with the systems that really solve problems instead of forcing an organisational-wide system that might not be intuitive for operators.
For example, at Cargobase, we integrate with logistics service providers that shippers prefer to work with. Shippers can also choose only the modules required. It makes implementation much easier and users happier!
Using machine learning and artificial intelligence to parse historical data and trends allow TMS systems to predict transportation time more accurately. The algorithms may also detect and alert mistakes, risks, and exceptions. Finally, with the help of advanced analytics, companies can better automate and optimise their workflows.
There are many benefits logistics teams can get from a cloud-based TMS compared to on-premise. In short, cloud-based TMS saves shippers from all the trouble to establish on-premise infrastructure. It also makes data accessible in real time.
Most of the public is probably familiar with blockchain technology due to trends like cryptocurrencies. However, blockchain technology has broader applications beyond cryptocurrencies. It can be utilised to build complex integrations between shippers, 3PL logistics service providers, and more. Blockchain enhances the transparency, traceability, and security of data shared across a network. As a result, shippers can rest assured that any data transferred in a TMS system utilising blockchain technology is accurate and secure.
Businesses in nearly every industry, from manufacturing to retail, can benefit from a TMS system if finished and unfinished goods move across the supply chains. Businesses require supply chain innovation to keep pace with rising client expectations and ever-changing business demands. As a result, logistics software evolve. If you are considering implementing a TMS for your organisation - congrats on making a change! Keep in mind that when it comes to technology and features, the simpler the better. Focus on the real problem you want to solve for your team and stay away from the bells and whistles.
At Cargobase, we aim to help logistics professionals to #GetShipDone in the most simple way possible. Chat with us to empower your team now.