In the past, the transportation industry has been slow to adopt new technologies. However, as drivers and fleet strive to improve safety and productivity, this trend has shifted. Many innovative companies have made major strides towards producing credible technology and related devices today, often incorporating both hardware and software—that plug into trucks from every angle, claiming to offer advantages in the day-to-day routines of fleet & trucking operations, along with making the ecosystem more efficient. The logistics industry is a competitive landscape and the number of businesses and consumers demanding their deliveries faster with more flexibility; often at a low or no extra cost, is on the rise!
There are several key challenges facing logistics today. Including a lack of transparency, high order processing costs and slow/incorrect orders. Customer expectations are changing rapidly, and improved logistics – via technology – can help companies keep up. As a result of which more and more logistics companies are turning to tech, to boost productivity and improve the customer experience by leveraging the advantages of digitization.
The benefits of digital are substantial. Firms can slice costs by 10-30 percent and reduce operational risks and breakdowns by 75 percent. Broadly, there are three groups of digital technologies that are relevant for the GCC Transport and Logistics industry: big data and analytics, on-demand mobility, and blockchain. TruKKer is already harnessing the power of big data and IoT for logistics offering advanced allocation, scheduling and deployment services to its clients. Blockchain still hasn’t found its comfortable spot in the regulatory circuits in the region yet, but TruKKer has optimistic business use cases ready in foresight. A sophisticated data capture infrastructure is a repository for rich insights into key industry parameters- demand trends, price sensitivity and fleet seasonality. By aggregating overall freight data and other information, TruKKer generates more accurate & effective long-term forecasts. This allows fine-tuning of operations among different entities, risk anticipation, and better utilization of assets. Apart from these front-runner technologies for Transport and Logistics there are a lot of buzzwords like platooning, autonomous tech, AR, RFID doing the rounds. But 150+ customers and 30,000+ trips later we have learnt that there is legacy resistance to technology adaptation in this industry, GCC-wide. This could be attributed to set systems not conducive to alterations needed by tech-enabled application or due to the fact that the workforce that has grown through the ranks in a fairly traditional machinery, feeling threatened. But either way, slow and steady seems to be the mantra for tech penetration in this space.
TruKKer is setting benchmarks for how digital technology offers GCC Transport and Logistics companies a rare opportunity to dramatically improve their offerings. We strongly believe that organizations that miss this opportunity risk getting left behind by global competitors. Those firms that adopt the right technologies, and the organizational elements needed to capitalize on them, can position themselves to win.