How Legislation, Truckers and The Logistics Industry is Changing the Way People Do Business
Looming regulations are changing the way the world does business.
Emerging trends that can both directly and indirectly result from the new economic climate will compound impacts upon modern business practices.
The Wall Street Journal reported three critical areas where looming regulation will affect the freight and logistics industry. The complex U.S. and China trade problems have implications for the whole world. Brexit could instantly bring in World Trade Organization (WTO) rules. Congested food distribution is a lesser known, but very real, issue. Regulation in any of these areas have significant impacts that can ripple across industries.
photo/ sandid via pixabay
There’s one more: The logistics industry is complex, but has been largely outdated because of the lack of technology. That means most features are done manually.
ISHIFT Logistics plans to change that,
“We have seen the telecom, cable, and auto industry transform, but the logistics industry has always lagged due to poor adoption of technology,” says Ashik Karim of 1SHIFT Logistics.
“We see a way to improve this industry and to satisfy customers, drivers and shippers. Our platforms use the power of artificial intelligence and the rich features in the Amazon Cloud to change the way the world in logistics, digital wallets & payments solutions. “
The 1SHIFT Logistics product works on desktops and on trucker mobile phones. eliminating the need for drivers to get involved in long discussions regarding route, delays and payments and it automates these typically manual features.
Clients who will benefit most from this product are shippers, drivers, carriers and logistics managers.
Staying Ahead with Artificial Intelligence (AI)
AI offers new opportunities to quickly find the best solutions for radical economic shifts.
Production and distribution aspects can be isolated by AI algorithms. Predictive modeling of variable economic climates can be made an ongoing aspect of business practices to maximize profit margins “in the moment”. This is one way that AI can help mitigate losses. AI’s can also help find new opportunities created by Brexit and global trade wars.
“2018 was the first year we’ve seen Carriers, Shippers and 3PLs attending logistics software conventions en masse to explore new ways of improving their business, their bottom line, and their customer experience. They are spending their own money to learn more about what is out there in terms of technology, and educate themselves with the knowledge to make key decisions on which software platforms to select in 2019. We anticipate the market to be extremely busy on adopting and transitioning to next-generation logistics platforms by 3rd quarter 2019,” explains Karim.
Incorporating Digital Ledger Technology
While AI provides analytical and planning tools, digital ledgers offer a secure means for record keeping and transactions.
Even the best AI algorithm is useless, devoid of a competent means for implementation because logistical implementation is different from actual freight transport.
Digital ledgers secure data management that is easily manipulatable. It streamlines information for all parties on a supply chain. In fact, digital ledger technology improves the data that an AI can use. It provides an immutable and transparent ecosystem upon which all parties can contribute.
Publicly distributed digital ledgers foster decision making because operational data becomes improved and more visible. The machine learning behind AI’s improve decision making by providing revolutionary analytical and planning tools. What is also profound is how adaptable an AI application can be. Decisive changes that have significant impact can be made without human input. And paired with a digital ledger, AI can bring about reliable and practical improvements for supply chains. All of this is achievable at faster rates than is currently being seen in industry practices.
The Technological Advantage
The freight and logistics industry direly needs a modern solution for data management along the supply chain.
1SHIFT Logistics is an optimum solution developed by LiteLink Technologies.
“Enterprise solutions that incorporate technology with artificial intelligence is an innovative pairing finally delivers companies the tools they need to not only keep up, but gain the competitive edge in a rapidly innovating tech-centric global economy,” said Karim.
Author: Blair Nicole
