The days of manual processes are gone and making decisions with data and insights is now more important than ever. Digitization provides these solutions.
Emerging technologies are dominating conversations within the logistics and supply chain industries. In an age of rising customer demands and competition fueled by the ‘Amazon effect’ — data-driven technologies and insights are now necessary partners for driving success. With these new realities in place, industry leaders face the challenge of making informed and timely decisions around incorporating these technologies into their organization.
By turning to technology, shippers found that freight rate forecasting tools provide greater market clarity as uncertainty deepens, but businesses trying to figure out how high or low freight pricing will be six months to a year from now are finding forecasting tougher than ever to respond to.
“Shippers are looking for the right approach to digitizing their supply chain and be equipped with leading-edge technologies,” said Martin Hubert, CEO & Founder of Freightgate, a logistics cloud platform, offering transportation management solutions for global shippers, forwarders and carriers to effectively manage your supply chain workflow.
“One tool in the suite of services we offer is a centralized freight rate module that incorporates all personal contracts as well as access to thousands of other rates for spot quotes from many carriers.”
There is a growing fear in the market that the unique and unprecedented nature of the COVID-19 pandemic makes its effect on freight flows and rates impossible to manage, but this is not entirely true if your supply chain has the right process in place and utilizing the right tools business can be run as usual from anywhere your team is located as long as you have a computer and an internet connection.
The Growth in Freight Rate Tools
The deep uncertainty and disruption caused by COVID-19 may be accelerating shipper demand for predictive pricing tools, but the underlying need long predates the pandemic. Its origin can be traced to the growing complexity of supply chains, both international and domestic, and more volatile and frequent economic cycles that push freight pricing to fresh highs and lows.
Software tools designed to help businesses manage the risk inherent in transportation pricing have proliferated in the past couple of years, with products being introduced rapidly as improvements in the underlying technology, including greater use of application programming interfaces, machine learning, and artificial intelligence, spur development.
Looking for the right approach to digitizing your supply chain and be equipped with leading-edge technologies you need. All the while ensuring you have the right implementation plan in place to revamp operations. Sounds like a daunting task. Huh?
It doesn’t have to be.. Freightgate can help Digitize your Supply Chain! Get in touch with our team at https://freightgate.net/demo-request/