Transforming Logistics through Innovations in 2022

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ONE PLATFORM FOR ALL YOUR LOGISTICS NEEDS
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ABOUT
COMPANY
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Quotations, Bookings, Sailing Schedules and
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TRANSFORMING LOGISTICS THROUGH INNOVATIONS IN 2022
After unanticipated disruptions in the global
supply chain network in 2020, the logistics and
freight forwarding industry is steadily
recovering. Today, its poised for growth at
6.5 CAGR, from 2020 to 2027, and will cross US
12,000 billion by 2027. This advancement is
largely fuelled by adopting Logistics 4.0
digitization, better logistics APIs, automation,
artificial intelligence (AI) and fluid
communication across the supply chain. With
rising demand, businesses in logistics are
turning towards transformation of their
processes. Disruptive technologies are all set to
give logistics of the future a facelift, enabling
a digital supply network.
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HOW THESE INNOVATIONS ARE TRANSLATING INTO
LOGISTICS IN 2022.

1. MOVING TOWARDS BETTER CUSTOMER EXPERIENCE
2. DEPLOYING NEW TECHNOLOGIES FOR RISK MANAGEMENT

1. REVITALISING FREIGHT FORWARDING
2. NURTURING SUSTAINABLE SUPPLY CHAINS

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1. MOVING TOWARDS BETTER CUSTOMER EXPERIENCE

• For a long time, logistics and supply chains
  werent considered an essential part of the
  customer experience journey. However, the
  pandemic turned that perspective upside down.
• Today, omnichannel commerce is rising as a result
  of customer expectations that a brand be present
  on several channels to cater to their needs.
  Omnichannel businesses are adopting an anytime,
  anywhere delivery approach to keep up with
  demand, and provide superior experience.
• These expectations have trickled down to freight
  shipping as businesses are moving to an
  experience-led approach. Multichannel commerce
  can circumvent logistics disruptions better, and
  as a result, integrated systems are replacing
  legacy, disintegrated ones for seamless
  cross-channel communication among supply chain
  partners. Theyre also incorporating shared
  assets, be it people or information.

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2. DEPLOYING NEW TECHNOLOGIES FOR RISK MANAGEMENT
Globalisation has peaked for the logistics and
trade industry. Businesses are delivering
products across boundaries, and technology has
played a significant role so far in reducing
trade risks. Now, new technologies are taking
risk management several steps further. In 2022,
companies are expanding investments in AI for
automation across processes warehousing,
manufacturing, predictive analytics, planning and
freight forwarding. Another area thats
benefiting immensely is inventory management.
Complex flows and visibility have always been a
part of the inventory system. But with AI and
automation, stock can be monitored in real- time
and orders delivered, smartly. Then there are
robots for performing simple tasks to help
warehousing facilities. They can prepare
consignments, drop products at the delivery
point, and even detect or communicate with other
robots in the vicinity. Similarly, self-driving
trucks could be available on a global scale in
the near future.
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3. REVITALISING FREIGHT FORWARDING
Its predicted that the freight forwarding market
will grow at 4 CAGR between 2021 and 2026. This
is because of growing omnichannel commerce and
subsequently, increasing international trade
volumes. Specifically, the Asia-Pacific region
will become the fastest-growing freight
forwarding market. Although North America has led
the race so far, ASEAN logistics markets are
attracting investments from international
institutional investors. China and India will
benefit from this, quickly becoming the two
countries to look out for in the region. To keep
up with this growth, emerging markets are looking
at adoption of technologies. AI and automation
will find their way into storage and integration
of data, planning shipments, maintaining data
security and enabling effective communication, to
increase scale and efficiency. Freight forwarding
solutions will also become more comprehensive and
one-stop in nature. Such solutions reduce costs,
increase profit margins and also cut down waiting
times. Moreover, they avoid a disjointed approach
across the supply chain, taking care of complete
logistics. ECU360s consolidated freight shipping
solutions are helping businesses overcome
challenges of traditional logistics.
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4. NURTURING SUSTAINABLE SUPPLY CHAINS
Awareness about sustainability is growing among
several industries. Consumers, too, prefer
businesses that address these concerns and are
improving their internal systems. Therefore, its
time for trade to be truly sustainable,
benefiting all three elements people, planet
and profit. When it comes to logistics, CO2
emissions are a big concern. As per research by
MIT, freight transportation is responsible for 8
of greenhouse gas emissions worldwide, and
emissions are set to double by 2050. To this end,
freight forwarding is already making inroads in
green supply chains. The first place to focus is
last-mile deliveries, which includes road
transport, as they account for far more CO2
emissions than ships. Conventional trucks and
vans can be replaced by battery-powered or
electric transport. Investments in renewable
energy will also boost growth of a green supply
chain.
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