The State of the Shipping Industry
The industry can expect to enjoy lower volatility in commodities as well as increased availability of shipping data and advances in Big Data analytic.
The International Shipping Industry will require more technologically advanced and innovative programs to handle the growing markets as well as maintain their interest.
Better Last Mile Shipping
Free Shipping is the name of the game. The use of drones are becoming the buzz word in the industry.
Freight Forwarder & NVOCC professionals will need to cut costs in the shipping process while still providing premium customer service.
Immediate access to expert knowledge cuts time, cost , improves productivity and speeds processes/transactions.
Full Stack Power House
The plan is to extend their further control around the customer life cycle and further along the supply chain.
The L.E.E system is designed to support the company and it’s personnel regardless of their logistics experience. Moving them to the level of experienced managers.
Venture Capitalist Freight Start ups
Funding in 2015 grew by 125%, hitting 1.5 billion dollars
Venture investors backed more than 245 startups in shipping and supply chain management, a record number worth at least $4 billion,
AngelList tracks 420 shipping startups (not all international), as well as hundreds more in logistics and supply-chain management.
Moving Data Better
Few industries will remain untouched by disruption. Businesses that will thrive will be those ready to change their business processes
Firms will find it increasingly hard to mask poor service, high pricing or unpopular practices, as technology increases customer visibility.
For those who can master it, “big data” will become a business of its own.
Here Come the Millennials
By 2020, over 50% of the global workforce will be Millennial
Their exposure and love for social technology will impact their expectations to have similar technology in the workplace.
Such millennials are on the rise in management positions running departments such as procurement and logistics, with or without the industry knowledge to do so primarily due to their expectations of technology.
“83% of millennial’s clients want real-time tracking and 70% want online booking options”. New workers with new expectations are searching for new technology and new platforms