Business-to-Business (B2B) transactions have evolved tremendously in recent years. The need to adopt a more sophisticated technology to meet the demands of improving processes has become relevant. Moving freight by land, air, and sea can be complex and labor-intensive but could be managed easily with the help of technology. If you have a freight business, using technology could also improve your relationship with your clients.
Here are five ways how technology can improve freight party relationships.
1. Radio Frequency Identification (RFID)
RFID effectively tracks shipments, including their condition, without the need of scanning them. It stores unique identifying data on a tag with information such as product information, manufacturing date, sell-by date, origin and destination location, and batch number. It automates distribution and simplifies management, ensuring accuracy in freight movement.
Accuracy and efficiency in freight movement are the top services clients look for in a freight mover.
2. Load Board
A load board is an online source that houses posting for freight loads in real-time. It shows available load that freight owners can grab from the system with consideration on quantity, quality, and rate. Thus, ensuring you maximize the cost of doing business while streamlining your operations. You may know more about load boards on this page.
Businesses that sign up on the load board are carefully vetted, therefore assuring the security of parties partaking in delivering quality service to their clients.
Load boards ensure you maximize your capital by always keeping your truck full. In the course of a delivery fulfillment, flatbeds can proceed to take another load. Of course, this should be within the proximity that needs moving. Getting another load from the system reduces the cost of fuel and increases productivity. Instead of going back and forth or sitting idle, you’re increasing your profit.
3. Machine Learning
Machine learning has become increasingly popular since it has significantly revolutionized supply chain operations in recent years. Documentation in the supply chain business could be a tedious task that takes a lot of legwork. Currently, machine learning automates the process from data capturing up to reporting insights. This fast and efficient method eliminates repetitive duties such as data encoding, verification, and writing analysis.
Conventional supply chains follow specific predetermined workflows. Even if not followed incrementally, the integration of machine learning in the system will not disrupt the rhythm. Machine learning excels in analyzing an astonishing amount of information, discovering patterns, and using pattern recognition to make optimal business decisions.
Using it will give your business the most accurate and optimal insights you may employ in improving processes within your enterprise. Clients might see that you value progress in meeting the demands of the industry you’re in.
4. Global Positioning System (GPS)
GPS now dominates the business sector by allowing accurate determination of geographical locations of just about anything in the world.
GPS helps drivers navigate locations, effectively plan route assignments, and monitor driver behavior. The mobility solution provided by GPS guarantees freight owners make informed decisions that the business will benefit from.
When delays are inevitable, freight owners can accurately justify using the GPS, thus improving client trust. This also elevates the quality of drivers since their driving behavior will be monitored, as reckless driving will be eschewed. Drivers will be more conscious of their driving skills and would want to show top performance.
The rising cost of fuel in the world market is hurting many businesses especially the logistics industry. Using GPS identifies the shortest and most efficient route for moving. Thus, it’s maximizing fuel efficiency, improving speed in delivery, and lowering cost.
5. Blockchain Technology
Blockchain technology is a database ledger that holds the history of ownership of a digital asset in the system that technically can’t be modified. Everyone may be given access to the data but only those authorized to do so can make changes. This is very promising as this eliminates fraud with the use of smart contracts.
Moving freight transfers goods across several channels and all transfers are susceptible to fraud and corruption. Using blockchain technology ensures data is incorruptible.
Modern technology has paved the way for the development of a lot of things that surround us. To say that technology is inevitable is an understatement.
As an entrepreneur, you need to best deliver quality service to your clients. You should incorporate technology to meet the demands of your business. This takes a lot of calculated risks but the benefits you will reap will be in abundance.