Today, several third-party solution providers work in the SaaS region, providing solutions for the supply chain's visibility, and have become readily accessible to small and medium-sized logistics service providers with IT budget constraints.
FREMONT, CA: With the advent of emerging technology, the global logistics industry has grown with rapid technological developments. Supply chain visibility has been the most sought-after service of shippers and the potential of logistics service providers. The global pandemic crisis has exposed the global supply chain's fragility and the value of end-to-end exposure.
Strategic Partnership as a New Standard for Integrated Supply Chain Visibility
Over the years, the coordination mechanism to ensure the supply chain's visibility between stakeholders such as logistics service providers, shippers, and freight brokers has come a long way. It has been converted from sequential and silo operations discreet to scalable solutions powered by electronic data interchange and Application Program Interface (API). This improvised coordination method has provided the requisite resilience for evolving market requirements. Instead of development, real-time supply chain visibility for freight management has become a certainty for shippers and logistics service providers by exploiting technology such as big data analytics, cloud computing systems, and artificial intelligence.
When the demand for clarity in the supply chain grows on the part of consumers, logistics service providers must optimize operations by providing a related and digitalized knowledge flow. Today, several third-party solution providers work in the SaaS (Software-as-a-Solution) region, providing solutions for the supply chain's visibility, and have become readily accessible to small and medium-sized logistics service providers with IT budget constraints.
Many shippers and logistics service providers use the Internet of Things (IoT) to digitize their properties and provide end-to-end visibility and condition reporting capability for improved freight management. The convergence of stakeholder networks through the supply chain network ensures a smooth transfer of freight information, and the exchange of data in the interconnected environment makes the system interoperable.
With more supply chain visibility solutions providers using new emerging technology on the market, the connectivity, efficiency, and scalability of the solutions delivered are being challenged. Shippers and logistics service providers need to enjoy the advantages of real-time insight into freight visibility, as selecting the wrong vendor with the wrong technologies will harm operating performance and the business's bottom line. It is essential to provide a robust evaluation process for the visibility of solution providers on factors such as the platform's scalability mechanism, integration speed, network communication system, analytics capability, and data protection.