Reinventing Logistics Through Digital Transformation

In Computerworld Hong Kong, CargoSmart’s Lionel Louie shares his views on digital transformation in the logistics industry. The article describes the opportunities and trends the industry is facing with rapid digitization.

 

Here are excerpts:

  • “We believe that ultimately suppliers, consumers, partners or even industry competitors will collaborate on digital platforms to exchange information and do business. The platforms can allow them to work with companies around the world and to collaborate through different channels, including online and by APIs,” explained Lionel Louie, chief commercial officer, CargoSmart Limited.

  • “For example, traditionally, companies may rely on information from their carriers to know the status of their goods. Now, they can leverage IoT technology to perform real-time tracking of their goods, such as pharmaceutical products and reefer containers. They know where it is, its condition, and where it will be at any point in time during transit. The real-time data also helps logistics companies to elevate their customer experience by leveraging digital channels to provide faster response to customer enquiries and data analysis to provide personalized services. The fast-growing technology will help to lower the cost of applying IoT to different commodities in near future,” Louie said.
  • Data and advances in analytics are also ushering a new era in machine learning for logistics. “We can see that the market need for data analytics is rising since many tech startups have been entering the shipping and logistics industry in recent years, with data analytics as one of the key focus areas. In the future, we see both logistics companies and shippers leveraging machine learning on historical trends and patterns to develop both new business models and new ways of optimizing their business processes,” he added.
  • “As a result of digital transformation, it is easier for logistics companies to have more collaboration with different parties and to be able to analyze more data for insights. Ecosystems will emerge that will encourage the development of new business models and enhance their customers’ experiences,” Louie said.

Read the full article on Computerworld Hong Kong’s website.


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