There are many ways that technology is launching the supply chain industry into the future. One of which is converting to automated freight management. Some of the technology behind this movement are robotics process automation, artificial intelligence, machine learning, big data, and software-as-a-service (SaaS). Of course, there are hundreds of technologies that power automated shipping and freight management. These software systems allow companies to endure their highs and lows by streamlining all the information they need to run their business and successfully transport their freight. And shippers need to understand how these technologies add up to a more lucrative, productive supply chain.
2020 Strategic Freight Management Trends
What New Technology Means for Automated Freight Management
The supply chain industry must keep up with modern technology to maintain their competitive nature and keep their customers returning. Automated freight management, which is ultimately led by supply chain big data, enables the supply chain industry to simultaneously monitor each section of their business while compiling their data across all systems. That allows companies to boost their efficiency and will enable them also to reduce their overall costs.
Robotics Process Automation and Artificial Intelligence Work In Tandem
One way automated freight management is adapting to the future is using robotics process automation (RPA) and artificial intelligence. These two advances to technology work in tandem to track sales, track all areas of transport, and above all, assist with the whole process for freight. This type of software is what makes automated freight management possible. RPA and AI take the time to consume simple tasks and consolidate them into fast, easy to read reports and analytics for businesses. That saves time on labor costs as well. Through and through, this technology creates more straightforward paths to once inefficient management practices. Adopting industry-leading new technologies for automating freight management is the key to staying competitive in the supply chain and its markets.
Machine Learning and Big Data Empower Automated Exception Management
Another piece of technology that is transforming automated freight management is machine learning. According to Forbes, “Discovering new patterns in supply chain data has the potential to revolutionize any business. Machine learning algorithms are finding these new patterns in supply chain data daily without needing manual intervention or the definition of taxonomy to guide the analysis.”
Identifying new patterns will revolutionize the supply chain industry and ultimately lead to the development of new technology at a much faster pace. Machine learning assists big data analytics in contributing to the progress of automated freight management. Remember that big data is a massive compilation of all systems and software across the platforms that the supply chain uses for its procedures. In other words, this offers a full picture of the status of the product. Meanwhile, predictive analytics further enable proactive management of one-off issues. These exceptions are among the most significant contributors to delays or errors in the supply chain. And as companies gain the ability to apply machine learning and big data to enable real-time, automated exception management, all other measures to decrease workload, increase productivity, and save money grow easier to realize.
Software-as-a-Service (SaaS) Resources Level the Playing Field and Centralize Controls
Another form of technology that powers automated freight management tapped into in recent years is software-as-a-service (SaaS) resources. SaaS is a fancy way of describing a platform like Netflix, Hulu, Amazon Prime, and other subscription-based apps. The appeal of this type of service has boomed in recent years and has transformed the supply chain industry in its ways. The benefits of providing this type of service within the industry are having all data centralized and streamlining maintenance without hassle or complications. In some instances, companies lack the funding for traditional, in-house maintenance, and SaaS is one way to mitigate them by putting it in the software vendor’s hands.
Reap the Rewards of the Right Technologies to Enable Automated Supply Chain Management With an Advanced TMS
Technology will inevitably be the future wave in all industries, and the supply chain industry is no exception. Combining these platforms will improve the quality of work daily, decrease mistakes, and increase overall productivity. The bottom line is that the move to automated freight management will keep the companies successful and competitive in this rapidly expanding market. And using a TMS that can bring together the technologies mentioned above will have the most excellent chance.