Freight forwarding business owners of all sizes and all specializations are faced with unprecedented levels of pressure as domestic and international companies continue to adjust to current market volatility. Even as recovery continues, a sense of the ‘new normal’ continues to settle over the entire supply chain network as freight forwarders work to improve services and maximize profits. GlobalNewsWire reported that “according to the report published by Allied Market Research, the global digital freight forwarding market generated $2.92 billion in 2020, and is anticipated to reach $22.92 billion in 2030, manifesting a CAGR of 23.1%.” With this level of focus and pressure, it is no surprise that freight forwarding companies and transportation service providers are focused on how to improve their business with innovative transportation technologies for freight forwarding.
1. Track Cargo Within a Single System of Record
As a freight forwarder, anything that can help move cargo less stressful and more straightforward is good. Advanced freight tracking tools and innovative supply chain technology solution gives forwards access to fully automated and digitally integrated platforms. Freight forwarding businesses of all types can benefit from a single system or recoding and monitoring all cargo that goes in and out of their network as it allows for easier management and better control over shipment specifics.
2. Share Timelines With Clients and Network Partners to Improve Experiences
Collaboration is often the answer in highly competitive markets that helps forwarders better network and manage their loads while remaining profitable. Sharing timelines and collaborative opportunities gives shippers access to data and historical statistics regarding niche shipping markets and the supply chain as a whole. All of this can be done without extensive data analysis and wasted person-hours as the collaborative nature of freight forwarding business partnerships streamline automated management actions
3. Manage by Exception
Supply chain technology and innovative tools such as chatbots, automatic updates, ML processes, and collaborative platforms make life easier. Supply chain managers can promote more visibility and intervene only when necessary to minimize disruptions. Freight forwarding businesses can easily manage delivery exceptions and keep shipping clients and customers in the loop with a manage y exception approach that frees up drivers and team memes to focus on the most critical tasks at any given moment.
4. Streamline Data Entry With Bulk Uploads
Optimization is critical for freight forwards today. Good digital platforms make it easier for all parties to focus on essential tasks and streamline mundane processes such as bulk uploads. Adequate onboarding and utilization of supply chain technology offer a win-win solution for forwarders and their clients. All vital information and data can easily be stored, organized, accessed, and applied quickly and easily, thus improving freight forwarding business processes.
5. Automate Quoting and Scheduling Processes
Freight forwarding business logistics often arise as a problem area for many shipments, especially when it comes to quitting and scheduling processes. A lot of wasted time in freight handling comes from sifting through bids and job listings and adjusting schedulings and load routes. Supply chain technology allows for faster and easier communications and managerial work. It is more accessible to connect across time zones coordinate busy schedules to ensure all involved parties work with current data.
6. Enable Searchable Communications
One management area that many in the freight forwarding business have to contend with is wasted time looking for information, reports, data, and other resources. The ability to search communications for critical data and knowledge makes it easier to locate source material and data points whenever and wherever needed. Cloud-based storage and recording platforms allow team members, management, and customers to search and find data and information with on-demand access to freight forwarding tech.
7. Enable Digital Document Management
Keeping customers updated and third-party members informed at all times is one thing freight forwarding business managers cannot skimp on for the sake of saving a few bucks. Digital document management makes it easy to share files and papers across multiple teams and networks. Drivers can access and share customs and BOL papers, carriers and forwards can exchange invoices and documents, and customers can quickly sign and record delivery receipts for a more streamlined process overall.
Choose Cargologik to Grow Your Freight Forwarding Business With a World-Class Tech Stack
Supply and demand trends constantly change from economic instability, supply chain disruptions, and shifting consumer demands and throw the transportation and shipping industry into disarray. Freight forwarding business management teams can benefit from taking their business processes to the next level with innovative techy stacks filled with the latest in supply chain tools and software. Contact Cargologik today to sign up and learn more about how you can boost your freight forwarding services and keep profits high and expenses low.