Digitisation, Digitalisation, Digital Transformation are some buzz words that have recently taken the shipping and freight industry by storm..
Let’s take a quick look at what these terms mean and what it is all about..
While Digitalisation is inevitable in the industry, there are also some pitfalls and you can read about the pitfalls and how to avoid it here..
Previously I wrote that apart from dealing with digital shipping lines, digital freight forwarders will also need to contend with traditional freight forwarders, not just from a service perspective but from a digital perspective as well.
DB Schenker recently joined the ranks of traditional freight forwarders now offering digital solutions with the launch of their connect 4.0 platform.
In a recent interview with Jeff Barrie, CEO of DB Schenker US, we had an opportunity to discuss the launch of the company’s connect 4.0 platform and why the company believes it will define success in freight forwarding and global shipping.
While traditional freight forwarder networks creates transparency, better connections and safe collaborations, the business model has not been a breakthrough by any means.. The way members conduct their businesses has remained the same, and the industry has been labelled antiquated and outdated..
If one looks at it objectively, it is easy to understand that it is the Freight Forwarder’s lack of digital resources and technological capability that has been restraining competitive growth in this volatile and digital market conditions..
Naturally, this has been noticed and the industry is seen by innovators in the technology space as a prime candidate for disruption.. They say that a paradigm shift is required if a freight forwarder aims to remain relevant, competitive and achieve greater efficiency..
The Digital Era is really and truly upon the shipping and freight industry..
Investors are showing great interest in funding the digital capabilities displayed by the role players in this industry and one of the main role players who seem to be capitalising most on this seems to be the Digital Freight Forwarders..
One such digital freight forwarder, FreightHub founded in Berlin in 2016, is the latest beneficiary of such investment..
FreightHub, who have been termed as Europe’s first digital freight forwarder, announced today that they have raised USD30 million in its Series B financing round..
A Freight Forwarder is a multi-function agent/operator who undertakes to handle the movement of goods from point to point on behalf of the cargo owner..
For the freight forwarder involved, this may include a door to door movement, negotiating freight rates, nominating the carrier(s), booking the goods and handling all the documentary, operational and transportation requirements between the two points..
Digital freight forwarders are a new breed of freight forwarders who are disrupting the freight industry armed with the ability to offer the services of a freight forwarder but on an instant basis using online technology and data..
But they have several competition to contend with.. One of them is a “Digital Shipping Line“..
Say what..!!!!!!!!!!!!!!!!!!!!!!!! Who is a digital shipping line now..??