The logistics and freight forwarding industries are changing at a high pace today. The global supply network is becoming more advanced and requires greater efficiency and changes in business processes.
The most important thing for logistics companies is a quality business intelligence (BI) and optimization. Logistics professionals need online logistics tools to help them do their daily tasks with ease.
The competition is strong. There is constant pressure to do as much work as possible with as few mistakes and investments as possible.
By implementing key technologies and tools, modern logistics companies can make the most of business intelligence. It simplifies the entire business, facilitates automatic data collection and analysis and optimizes processes.
A logistics is a systematic approach to managing and controlling the physical flow of material goods and the necessary information that a company sends to the market and receives from the market.
The scope of logistics includes administrative activities in the procurement, warehouse and inventory management, internal transport, handling of raw materials, goods, semi-finished products, and information logistics systems.
The essential logistics task is to enable quickly deliver the right product in the right place and at the right time to the end-user.
Digital transformation: What are the trends in the logistics industry?
The digital transformation of the supply chain is based on establishing a view on how digital applications can improve service levels, pricing, inventory, agility and consistently implement the process and organizational changes that these technologies use to achieve operational excellence.
According to McKinsey's research, business owners are generally reluctant to digitize their supply chains because they fear modern technologies are not as reliable.
Experts argue that digitization and automation of work, in general, bring measurable benefits and that digitizing supply chains can result in higher annual growth.
Nevertheless, entrepreneurs increasingly realize that the digitization of the supply chain is crucial. But, most still do not fully exploit the potential of this new technology.
The goal of digitizing and using available technology can significantly cut costs, improve profitability, customer service, and supply chain efficiency.
Due to a large number of available technological tools and software solutions, it is sometimes difficult to determine the essential tools for fully optimized logistics operations.
Mobile technology can now allow you to track inventory and shipments through a variety of useful applications.
Using every tool available will allow you to improve your business's functionality, productivity and profitability and make your job even easier.
In this blog, we will present several essential technologies for modern logistics companies that can help you achieve the highest efficiency level.
How can new technologies serve as a competitive tool?
There are several different technologies that you can use to track products, so you should be careful when choosing the one that will be most suitable for your needs.
These are some of the most commonly used technologies that promise increased efficiency and time optimization for specific tasks and activities.
1. Asset tracking and inventory management software
Logistics companies are focused on ensuring the smooth flow of goods and services through the supply chain. Active asset tracking is the foundation of any successful logistics operation.
Assets can be tracked by merging asset tracking software and using a combination of bar codes, QR codes and technology such as RFID tags, which allow you to speed things up.
Logistics companies rely on inventory management software to monitor their product quantity, for goods moving through the supply chain, and for internal inventory (such as spare parts needed to maintain high-value assets).
Another useful part of this software is transportation management. It allows companies to deliver products on time to distribution centers, retailers or end consumers.
For fully integrated operations, it is essential to choose a solution that includes asset tracking, inventory management, and transportation management.
2. Computer Systems Maintenance (CMMS)
It is essential not only to track goods moving through the supply chain but also the company’s immovable and movable assets such as equipment and machinery.
Monitoring the current location of high-value assets is of great importance, but this equipment also requires regular preventive maintenance.
This is where the need for simple CMMS software arises. This software can plan and track maintenance activities to store a history of costs, reports and other information.
Quality control over maintenance directly extends the life of valuable assets.
CMMS enables better control of the entire procurement process, from supplier management to the purchase, storage and issuance of goods. With CMMS software, you can reduce transportation and logistics maintenance costs.
3. Workforce planning and management software
Product flow monitoring is a crucial segment, but there is always a human factor involved in the production, packaging, shipping and transportation of these products through the supply chain.
Workforce planning and management software is key to more efficient workforce optimization.
This solution allows staff to plan work tasks and coordinate the transport route in the most efficient way. It also speeds up the delivery of goods and reduces the physical labor required to transport products from point A to point B through the supply chain.
Full workforce optimization improves the company's business and the customer service provided to partners and ends consumers.
4. Accounting tools
Accounting tools are necessary for every business, and especially in the business of logistics companies. With the high costs of operation, maintenance and inventory management, manual accounting can no longer keep up with the fast pace of modern logistics.
It is essential to choose an accounting solution that can automate certain accounting practices (such as calculating inventory costs and business forecasting).
Such solutions should integrate seamlessly with inventory management and asset tracking software and offer other functionalities, such as transportation costing.
Integrated solutions give a clearer picture of the company's stability and make it easier to generate comprehensive reports.
Accounting digitization and automation tools can make your job much easier. E-commerce will allow you to do business; faster, better and with more flexibility.
Application of an online accounting program and other modern technologies saves time, increases efficiency, and allows the logistician to get access to the accounting service.
5. Analytical tools and Big Data technology
The above tools help logistics companies optimize the operational processes, but this generates a large amount of data.
Significant amounts of data are only useful if companies can analyze the information and benefit from it. Here is where the importance of supply chain analytics software comes into play.
Managing information is crucial to make the right decisions and improve business results.
Using Big Data tools to gather data, observe standards and processes in a company, analyze data, and identify new business opportunities can be a great ally.
Big Data is a technology used to collect, process and analyze large portions of data. What makes this technology valuable is the ability to process and analyze the collected information for remote use.
Supply chain analytics software helps improve working performance.
Analytical tools allow identifying the most profitable products, identifying production problems and implementing urgent measures to mitigate them before creating a "bottleneck", analyzing suppliers and costs, and reducing costs and increasing margins by optimizing procurement spending.
It is crucial to choose the most ideal supply chain analytics solution capable of integrating data from a myriad of different sources and offering filtering capabilities.
It will help an in-depth analysis of essential measurement data, identify and respond to trends, predict business more accurately and improve efficiency.
6. Solution for secure data storage in the cloud
Cloud technology has changed how many companies do business (archiving and organizing data) and enabled greater flexibility, scalability, and data availability.
There is a reason why companies back up some of their data to the cloud - it is reliable, secure, and accessible.
If the hard drive stops working and there is no backup, there is a possibility of permanent loss of data or files.
Also, cloud storage makes it easy to share large files within or between teams, collaborate on projects, and access information at any time, from any place and any computer.
This technology helps increase productivity, reduces data errors and simplifies processes.
Using encrypted cloud-based management system, companies take care of their own and client data security.
Information considered strategic for business is stored in the cloud or in highly secure data centers to ensure safety and reduce the risk of attack or data theft.
To improve the efficiency and mobility of your business and reduce stress, introduce one or more of these applications into your day-to-day business activities.
Today, many cloud storage services are available, which has become an indispensable part of the logistics company's business.
Keeping up to date with new market trends
Modern logistics companies face high competition and their goal is to do as much work as possible, with as few resources as possible and in the shortest possible time.
New technologies and solutions are evolving too fast and are definitely changing the industry's operation on many levels, so supply chains have a problem with their rapid adaptation.
Logistics companies are significant to the global supply chain. They must keep pace with technological advances to compete in today’s challenging environment.
The use of essential technological tools will ensure greater transparency in each working process. This is ultimately the key to optimizing the efficiency of any company.
Combining digital applications with operational changes helps to achieve significant performance improvements.
Online logistics solutions manage all your vital transportation and logistics needs and focus on other business needs and your business's growth.
Before using online logistics tools, you most likely wasted valuable time, energy and money.
The Hubbig digital logistics platform offers many automation benefits. It connects shipping companies, airlines, haulers, freight forwarders and logistics companies, importers and exporters through the application.
With vast experience in developing integrated logistics solutions, we meet your international transport requirements quickly and easily. For more information about our platform, contact us today!