When there is science, there is an invention. And the word which is most relatable with the words “IT,” “Software,” “Solution,” “Technology” and “Industry” is innovation. Innovation brings new items, problems and even the solutions to the industry. Innovation gives birth to trends and curiosity gives birth to discovery. As the day passes by, the number of businesses grow up and lead to further competition. Competition is getting tougher each day, and every enterprise is fighting to be on the top of customers’ priority list. Experts say that to thrive in such a challenging competition, and businesses must offer products/solutions/services better than competitors, at the same time, it must be less expensive, high in quality and easy to use. Enterprises must always update themselves about the industry scenarios, consumer demands, and trends. Successful entrepreneurs say, “To be ahead of others, you should not follow trends, rather you should either be the one to create the trends or you should be the one whom trends will follow.”
Like any other industry, software solutions are easing up the job of the transport sector people. It is quite known to all of us that the transport software solutions are adding up the productivity of the logistics companies. Recent studies suggested that savings were observed up to 35 percent on an average within the first six months of opting for the transport software solution. Businesses can use this as a study material and pace up their functioning without much investment in the infrastructure only by adapting to the latest trends in the transport industry.
As found in a survey report on the analysis of the global industry scenario, share, size, trends and forecast, Transportation Management Systems Market is expected to develop a double figure CAGR of about 12.20 percentage by the end of 2020. This rise in the CAGR is a probable result of the increase in e-commerce segment, intermodal transportation and stable economy. On the basis of the study report, experts mentioned that as compared to the on-premise services, the demand for SAAS-based TMS services is going to observe a sharp incline shortly.
Simple and basic ideas give birth tremendous innovations. Similarly, some of the basic concepts evolved into greater transport software solutions like Yard navigation for driver’s assistance, simple GPS tracking app, small ELD in place, real-time synchronization with load board, EDI integration and instant booking for carriers. It is a clear example of how TMS can help one to broaden their business perspective and take strategic steps to improve the revenue model of their business. Making the right move is the most crucial thing in business. Leading a business is more like playing a chess game, once you make a wrong step, you cannot take it back, and it can help you to checkmate or lead you to lose your king. In short, right measures should be taken in good time to grow one’s business.
The trends which are either revolving or forthcoming are as follows:
Combination of Big Data Analysis and TMS
For logistic companies, all payment related issues including fees, duties, and taxes are managed by the TMS mostly. In the recent times, it is observed that these logistic companies have begun to opt the Big Data Analysis serviced from the outsourced services. This new step has eventually helped companies to take better decisions by investing intelligently in the resources. Some experts are even coining this as a golden step as this fantastic combination of TMS solution, and the assistance of big data analysis is going to improve and refine the decision-making process for the shippers.
Dimensional Pricing is the Future
The days when the decades-old method was used to determine the shipping prices based on freight classification are soon fading away, and it is opening the doors for dimensional pricing. The demand of shippers is rising, and they are now expecting the solutions to find out the density of shipments by studying various factors that range from the transit time to the size of the shipment and demand. This analysis is helping businesses to gain profit by supporting them in building strategic decision. The service can be either in-house carriers or outsourced or collaborative.
Collaborative Assistance Can Help Your Business Grow
The discussion begins here with the Big Data analysis, and without talking about the collaborative methods used in logistics, the discussion would remain incomplete. The current scenario apparently suggests that the enterprises are using Big Data analysis to increase their profitability by utilizing inter-management of resources. The concept of Less Than Truckload (LTL) Shipping can be used to lend out the collaborative assistance to help Logistic companies to succeed which might not find it profitable to employ complete carrier on the same route.
Use of IOT in Logistic Industry
With each day passing by, the usage and significance of the Internet of Things are increasing in the logistics industry. Both logistics industry and TMS software solutions are quickly picking up IoT and making the ultimate utilization of the technology. According to the famous American research company Gartner, the prediction has been made that IoT will connect about 25 billion sensor devices by the time we reach 2020. Other critical analysis made in the field like Connected Vehicle Field Infrastructure Footprint Analysis by American Association of State Highway and Transportation Officials clearly stated that when vehicles are able to adjust to surrounding threats, highway transportation will be much safer with a severe decline in the number of crashes. The reason behind this is stated as that the information can be carried and conveyed between the carriers via M2M connected systems.
Technology is rapidly improving and changing the ways how industry used to look and perform a few months back. Even a day can change a huge lot thing in the world of technology. Cloud solutions are getting more and more into the industry and breaking all the borders of geography and operational limitations. With the trends observed already, the cloud solution is among the modern technologies which are helping logistic transportation industry to become more robust and dynamic to adapt changes and maintain efficiency. Along with cloud, mobility, big data analysis and other trends mentioned above, booming of e-commerce is expected to help the transportation industry to reach their ultimate goal and reinvent the existing transportation management systems.
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