The need for a digital ecosystem in the world of Maritime

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The need for a digital
ecosystem in the world of Maritime
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The need for a digital ecosystem in the world of
Maritime
With the digital awakening of the world, speed
has surpassed size in terms of value and
necessity. Customer loyalty has become old news.
The modern consumers are more quality oriented
than brand oriented. They would go where they
will get quality products and valuable
experiences, at speed. As customer-centricity
has become the primary focus of businesses and
industries worldwide, conscious and meticulous
efforts are taken to offer what the users want.
As an estimated 89.5 of global trade is carried
by sea, the ability of businesses to deliver
quality at speed largely depends on the
maritime industry. The maritime industry has
been treading the digital waters quite slowly,
with digital solutions deployed in chunks and
pieces. A true digital transformation entails a
core transition in people, processes, and tools.
Digital transformation is not about using
advanced technologies. Rather, it is about
shifting the cultural mindset, infusing
adaptability, and promoting process
efficiency. Despite the uphill battle with the
decade-old recession, maritime industry still has
not recovered entirely. Digitization brings the
opportunity to emerge completely out of those
clouds and sail under a shining sun. By leaving
the legacy paper-based processes behind, the
industry can leverage from the new revenue
streams opened by digitizing principal functions
of route planning, freight forwarding, voyage
operations, fleet maintenance, and customer
support. With the advanced digital technologies
of IoT, augmented reality, big data, and cloud,
the probable future of the shipping industry will
be characterized by unmanned voyages, real-time
vessel tracking, smart capacity management,
dynamic freight rates, cargo management, and
digital documentation. In the present landscape
of every industry, the question of to digitize or
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The need for a digital ecosystem in the world of
Maritime
not directly corelates to perform or perish.
The conventional paper-based methods are slow,
tedious, time-consuming, and error-prone.
Digitally modifying these processes is imperative
for stevedoring the maritime industry on the
vessel sailing toward success. Legacy methods
are the anchor holding the shipping industry back
at the port of inefficiency Speed and efficiency
are the most challenging as well as
business-critical goals for maritime industry.
While the customers expect rapid deliveries, the
shipping industry is tied down by manual
activities, cumbersome documentation, and complex
protocols. Digital technologies can facilitate
interconnectivity while improving business
productivity and streamlining customer handling
processes. The slow economy has had tremendous
impact on the shipping sector. With the dip in
demands, the industry is struggling to stay
afloat with non-ideal freight rates and meagre
profit margins. A significant portion of time and
investment go into training and deploying manual
staff to handle cargo and shipments. The
unplanned, first-come-first-serve policy of slot
allocation on a vessel leads to severe
inefficiencies in capacity management and revenue
loss. With IoT devices sprawling their dominance
and automation and AI becoming a reality, digital
transformation will bring all the distributed
pieces of maritime logistics under one cohesive
umbrella. This will offer visibility and
transparency in the end-to-end supply chain
process while ensuring optimal costs and profits.
As autonomous, unmanned vessels are being
introduced, the shortage of skilled labor as well
as the high costs of training them are mitigated.
Leveraging big data and
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The need for a digital ecosystem in the world of
Maritime

analytics, the maritime operators can deduce and
predict logical allocation of slots. This will
enable them to make an ideal use of the available
space and capacity, while minimizing wastage and
losses. The impact of digital extends beyond the
carriers, affects all the touch-points Digital
transformation of the maritime industry involves
everything from shipping ports, terminals,
warehouses, and the carriers themselves. The
processes of stevedoring, wharfage, and
transportation will be dominated by
digitally-enabled devices. Through digitization,
maritime sector will be able to throw the factor
of inefficiency into the sea. The probability of
manual errors will be reduced to negligible. By
linking every node in the supply chain and
creating an inter-connected digital ecosystem,
the risks associated with the loss of cargo and
shipment non-traceability are averted. By
eliminating the dependence from manual resources
as well as processes, the maritime industry can
employ automated solutions that ensure shipment
completion with utmost accuracy and faster speed.
From end-to-end logistics to various port-to-port
offerings, a digitally-enabled supply chain in
the shipping industry will be able to channel
more effective and optimized cost
structures. Establishment of a multi-modal
collaboration platform improves communication
between various terminals, liners, freight
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The need for a digital ecosystem in the world of
Maritime
stations, as well as other intermodal companies.
Having a seamless communication channel directly
impacts the smooth movement of cargo. To reach a
port, one must sail Frankin D. Roosevelt had
said, To reach a port, we must set sail Sail,
not tie at anchor Sail, not drift. Digital
transformation might be a wave, but it is
revolutionary in terms of its capability to drown
the conventional, inefficient processes. The wave
of digital transformation will carry the maritime
sector toward the port of efficiency and quality,
so long as the industry takes the first step and
sets the sail. Robert Squire, Director Thales
Certus, aptly describes the state of digitization
in the maritime industry The way the shipping
industry is approaching digitization is very
piecemeal and very reactive. They will only
request solutions for specific issues they face
at any particular point in time as opposed to
approaching digital transformation in a more
strategic, long-term approach. In order for the
industry to create a holistic digital ecosystem
that comprises automated processes, adaptable
people, and sophisticated tools, it needs to get
support of digital assurance. The fundamental
requirement before starting the digital journey
is to develop a clear vision and objective. After
establishing tangible goals, the next step should
involve making a strong commitment to adopt
digital solutions within the organization.

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The need for a digital ecosystem in the world of
Maritime
A comprehensive, digital ecosystem should be
architected with the backing of data-driven
analytics to achieve the desired results. Change
management should be taken seriously to mitigate
and avoid any potential resistance from
teams. In Conclusion Continuous testing and
scaling is the practical way of achieving digital
transformation. Having an optimal digital testing
strategy ensures that once the digital
transformation is set in motion, it proceeds with
maximum agility. Thus, it is highly critical to
check what is working, what needs improvement,
and what should be obliterated. Digital adoption
requires a thorough and disciplined approach. By
utilizing digital quality assurance services,
maritime industry can guarantee a successful
sail. Read Full Blog at https//www.cigniti.com
/blog/maritime-logistics-digital-transformation/

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