Two-thirds of the rail/truck transport and logistics sectors have seen demand skyrocket. Believe it or not, the e-commerce industry business has increased by 400% within the past three months, directly impacting the transport and logistics sectors.
Moreover, ResearchAndMarkets, an American company specializing in business market research, analyzed the all-logistics market and found a year-over-year growth of 21,1 percent.
Given this rapid development, many companies have decided to transform their IT systems. In May 2020, FedEx and Microsoft partnered to track, manage, and secure inventory logistics more accurately. Because of this, there may be a new emphasis on conducting business online as much as possible.
The latest July 2020 surveys from Freight Technologies Market Analyses show that COVID-19 has affected the supply chain market. Indeed, to move from manual processes, companies must establish automation. In addition, 42 percent of supply companies are ready to make the leap away from paperwork and digitize their systems. The same analysis reports the freight management system market will reach $43.7 billion in 2027.
During the last 20 years, giant steps have been made concerning supply chain automation, warehouse management and iniividualized delivery. The last part of the process which remains to be modernized is the document management side.
A significant part of us would have bet paper shipping documents would become cumbersome. Now, new technologies are emerging to exchange bills of lading or proofs of delivery digitally for employees working from home. The consequences of COVID-19 have influenced all supply chains, and new technologies help companies communicate more easily with carriers.
In June 2020, Global Ports, one of the main actors in the Russian logistics market, launched its first digital document service. This smart move makes it the first Russian port to transfer to an entirely paperless export management system. Digitizing its document validation process, Global Ports improves its document management and becomes more environment friendly. “Global Ports is working hard to make its service as convenient as possible for customers and partners,” claimed Alexey Yermolin – Director for IT – “Shipment orders remained the last paper element in export shipments.”
Digitization and cutting paper costs are hot topics in the logistics industry, and the recent pandemic have made them more pressing concern.
Becoming fully digital can help enterprises realize new opportunities in sales, distribution channels, and payment processes. Isn’t it time you reconsidered your logistics document cycle?