26 Sep 2021 As the covid crisis unraveled, companies across the globe started taking recourse to technology like no other, with digitalization making sweeping changes in processes, approaches, and organizations.
At the forefront of the sweeping revolution of technology has been Big Data.
Big data has been a fundamental game-changer that has the power to unfold new opportunities and business models.
Data from different sources and collated and organized in a cloud-based system. By analyzing and acting on this data, companies in the logistics and warehousing industry can stand to benefit greatly and be introduced to endless possibilities.
Most importantly, Big Data can enable more cost savings and improved freight operations. We explore how:
Freight rates and available capacity: Shaping Trade
Freight Rates and Available capacity are two primary concerns in any domain that have a bearing on the entire supply chain. These are two main factors that decide the costs to be incurred by shippers. The advent of Big Data is now posing as a game-changer in this regard.
Organizations are now making the change towards using multiple data points to help significantly improve operational metrics, including shipping expense and asset utilization.
Forecasting future events
Big Data can empower shippers in many ways, especially by increasing visibility for improving inventory flow so as to cut down on transportation costs. It is all about connecting the dots between the associations and patterns in data to greatly enable businesses to respond to future events and disruptions.
Big Data can significantly lead to better cost savings by providing useful insights into a shipper’s specific requirements, improving the timing of shipments, etc thereby utilizing their resources in an optimal manner to stay prepared for future developments.
Refining Data operations
Modern logistics and freight procurement businesses hold a massive amount of data, which is usually underutilized. In order to analyze, refine and integrate useful information, Big Data can prove to be a game-changer for refining data operations in the logistics sector. It is fundamentally changing the way shippers and carriers respond to the huge amounts of data that is gathered.
Automation of Operations
The beauty of Big Data lies in the myriad of benefits that it provides, all without requiring the help of a human in the maritime and shipping industry. Companies usually cut down their expenses by decreasing the onboard crew, reaching the harbor ahead of the scheduled time, augmenting load capacity, etc.
However, with the help of big data, one may not need to resort to these options…With the help of remote functionality in subsystems like climate control, desalination, etc. can help one on land to read ship’s data at sea and command them accordingly, without the need for a human.
Recent Blogs
Leave a Reply