Today, new-age technology has empowered shipping companies to operate their businesses more effectively and efficiently. Be it round-the-clock international shipment tracking or the evaluation of the container dwell time, every aspect of the logistic operations has gone hi-tech like never before. The very early signs and symptoms that the new-age shipment tools and equipment provide enable shipping companies not only to moderate the costs but also to better streamline and channel the things associated with demurrage and detention occurrences.
Here are 6 ways evolving technology is boosting the bottom line of logistics operators:
Reduced prices for customers and more customer loyalty
The savings obtained through the use of new-age shipment solutions can be invested back into making further improvements across the supply chain including reduced prices for customers and winning customer loyalties. Based on an up-to-date and accurate communication system, shipping companies can also expand their customer base the world over by winning more and more customers. The new-age technology for shipment tracking and the evaluation of the time required for import process has become even more important as the Pandemic has recently hit hard the logistics industry offering numberless operational challenges.
The companies embracing technology will always be at an advantage
The shipping companies that opt for new-age technology tools and equipment for international shipment tracking will always be at an advantage. This technological empowerment will enable them to provide their customers with quality-oriented and competitive service packages. What’s more, this will capacitate them to achieve real-time shipment visibility which is considered to be a prerequisite to building and maintaining fruitful relationships across the supply chains.
A drastic reduction in demurrage fees and detention costs
Demurrage and detention are the two most crucial aspects associated with the operations of shipping companies. The shipping companies that have adopted new-age technology are overcoming both these operational hassles. They have seen a sea change in the form of a drastic reduction in the costs resulting from the demurrage and detention. It is an open secret in the logistics industry that if a particular shipping company remains alerted about certain delays and arrival times of the cargo, it can handle everything better before escalations.
In the pre-technology era, there were times when getting even a tentative idea of the status of containers was a Herculean task. It used to result in an assumption that some particular shipments were still on the way. Still, in actuality, they were already on the destination incurring both demurrage fees and detention costs.
Industry experts are of the view that shipping companies making use of the latest shipment technology can shave off as much as a day as far as demurrage fees and detention costs are concerned. Of course, with the round-the-clock real-time tracking report, the teams of the shipping companies will be on the job as and when the ship is docked.
Electronic Data Interchange (EDI) replacing the manual processes
In the pre-technology period, it was common for shipping companies to work manually for shipment tracking as well as the evaluation of the time required for export process. It was a very hectic job and used to involve so many people at a time with makeshift results only. It would also not be an exaggeration to say that almost all the small and large logistics companies had to bear a significant loss due to the manual processes.
On the other hand, today the integration of Electronic Data Interchange (EDI) has completely replaced the manual process. The use of Electronic Data Interchange (EDI) has not only reduced the chances of any duplication and various other wastes but also eliminated the need for manual working across the ambit of shipping operations. This techno-driven and efficient system conduct all the necessary checks on every carrier site automatically to determine the real-time status of the containers traveling anywhere on the planet.
Centralizing all the crucial pieces of information
The Electronic Data Interchange (EDI) system for shipment tracking as well as the evaluation of the container dwell time is capable enough to centralize all the crucial pieces of information regarding the containers while ensuring their availability for easier and immediate processing. This capacitates shipping companies to make well-informed and insightful decisions easily and more accurately. They receive round-the-clock notifications regarding any change or deviation in the status of the cargo on the way and can feel empowered to do the needful according to the situation before the occurrence of any further unfavorable escalations.
Fully automated performance analytics dashboard
The new-age tools and equipment for shipment tracking are equipped with advanced tracking methods configured with a dynamic analytical dashboard. It helps shipping companies to make data-driven decisions that benefit them in manifold ways. The system reads all the crucial data associated with their shipments while capturing as well as recording everything in real time.
Some other benefits include the following:
- Real-time data accumulation to offer actionable insights
- Ability to determine the vendors’ performance
- Determining the perfect routes for specific geographies
- Technology that’s capable of providing rapid responses and updates
- Sufficient capacity to coordinate multiple cases at a time
- The possibility of changing certain details manually
- Safe and secure for all types of sensitive information.
Technological advancements have played a very critical role in transforming the logistics industry not only in India but also across the globe. Real-time container tracking is the need of the hour which every shipping company must realize as early as possible.
DLDS’s flagship project Logistics Data Bank (LDB) has emerged as a game-changing solution in India’s logistics industry. The system uses IoT (RFID technology), Big Data, and Cloud-based solutions to integrate the information from different agencies to provide detailed near real-time visibility of EXIM container movement through a single window. Currently covering 100% of India’s container volume, LDB is the best system in India not only for international shipment tracking but also for the evaluation of the container dwell time. By now, over 30 million containers in the country have been tracked using the LDB services.