Some of the world's largest carriers are investing in digital freight forwarders. What is the reason for that? The reason is that they are eager to improve the freight industry's supply chain management and customer experience. What these large players are doing is a significant step forward in the digital revolution of logistics; a revolution that is unlikely to be going anywhere soon. So conventional freight forwarders should ask themselves a question: would they adapt and become part of the tide of history, or will they risk everything and eventually fade away?
Startup and digital freight forwarders are getting altercation around the globe. They are acquiring more funds and investment rounds from many carriers. Digital freight forwards will use the fresh funds they gain to further improve the digital service they are offering and to extend their influence across the world.
The services that digital freight forwards provide are through air, sea, and rail services, based on digital processes such as booking, communication, document management, data interchange, and supply chain optimization. Many of them aspire to compete with and eventually replace conventional freight forwarders that rely on manual procedures and obsolete technologies.
For big and mid-sized enterprises, digital forwarding solution provides better transparency, dependability, and ultimately time and cost advantages. Today, digital freight forwards service some of the most well-known brands in the whole world, and their volumes have increased threefold year over year. The recent growth trajectory for some of these digital forwards (which has been astronomical) has proven the value their digital solutions can provide to both their clients and the industry as a whole. One key investment strategy that many of these newcomers have is investigating and developing new technologies that show great potential for enhancing supply chain management and customer satisfaction.
On the other hand, many in this new field believe in collaboration and learning opportunities across the industry's digital ecosystem. They are excited to work with each other to help each other to grow as digital freight forwarders. They believe that partnership will help all companies involved, to improve their capabilities and services, for both existing and new customers in the SME segment.
The mix of seasoned logistics specialists, data-driven and cutting-edge technology(hence strong procedures) are what differentiates these new and visionary companies from their old counterparts. The goal for many digital freight forwards is to grow their network and offer a wider range of complicated logistical services. A bigger presence in Asia specifically will enable many of them to manage on-site procedures independently. This will allow them to provide a smooth end-to-end experience to their clients. To put it another way, big names in the industry are going all out to increase their market share and transform the business. Although the freight industry is still old and conventional, it has demonstrated that it is ready to join the new century. As a result, several entrepreneurs are capitalizing on the opportunity and are aiming to help the logistics business thrive. Traditional players must rise to the occasion and join the digital revolution, or they will be left behind.