Even with recent technological advancements, players in the transport industry continue to struggle with various complexities. Transportation and logistics companies are constantly under pressure to remain competitive, provide quality customer service, and find innovative ways to optimize their operations in today's customer-centric, digitized world. Here are some of the industry's top challenges and the technologies that will help overcome them:

1. Inventory Tracking, Visibility, and Management

Inventory is the foundation of numerous businesses, making the ability to successfully control a business's inventory one of the vital competencies for transportation and logistics. Thus, if a company does not have detailed, real-time visibility into available inventory at a given location, it can hurt both sales and customer satisfaction.

Moreover, a supply chain is frequently required to track and manage inventory from multiple warehouses, stores, or locations, which can be a difficult task if the business systems are not centrally connected. Logistics and transportation companies are thus both shifting away from on-premise software solutions and investing in integrated cloud-based technologies that offer data in real-time instead. Some organizations are also utilizing predictive analytics to better determine detailed inventory requirements.

2. Bringing Down Transportation Costs

The rise in fuel prices means customers have to pay more for shipping. Thus, to better address this issue, companies have implemented advanced strategies aimed at identifying transportation challenges and the development of efficient solutions. These include adopting technologies like artificial intelligence (AI) and autonomous tracking to monitor potential real-time data with routes, along with alternative routes to reduce transportation costs. This is highly beneficial, especially for companies looking to boost fuel efficiency and evaluate road conditions.

3. Providing Customer Service and Segmented Assistance

Supply chain relies on segmented and customized technology when sharing a single platform of information across various departments. Data sharing across the supply chain in logistics facilitates more transparency, allowing customers to make more careful purchasing choices, building trust between the customer and the company.

Technologies like blockchain can help track a product's life cycle and ownership transfer from its origin to the store shelf, even as it passes through the hands of the manufacturer, retailer, and customer. Through an easily transferable tracking system, blockchain also enables the supply chain industry to locate where inventory is throughout the company. Many companies have thus started to integrate blockchain technology more and more into their websites, helping customers see the route of their package as well as the desired delivery time the moment they place their orders.

Connect with EXIMA

EXIMA helps you connect with trade professionals from all over the world. If you are interested, make sure to check out our site!

#EXIMA #complexity #transportsector #technology #transportation #challenge