Following on from an amazing 2017, Felipe Capella, Chief Product Officer and Loadsmart’s Co-founder, mentions the top 4 technology trends that will be the kings of 2018 in the brokerage of truckload shipping:
- Data Sharing and Open Access
Logistics industry players have traditionally been very protective of their data. Freight brokers are the epitome of this trend, siloing all information and creating close environments for software use. In 2018 we will see more openness, with many companies in different businesses sharing data for mutual benefit. While initially this initiative will be to better understand market dynamics, it will provide a more efficient service to end clients in the long run. Software will also become more open to utilization across different platforms and fear of IP replication will give space to the distribution benefits of openness.
- APIs replace EDIs
EDIs have to die. Information is exchanged between computers like a fax machine: as a specific event, not on an ongoing basis. This delay causes multiple operational challenges, increasing the chance of missed status changes and precluding the automation of manual-intense processes such as calls and emails. Companies that want to embrace automation and integration with tech partners have to build proper APIs that are easy to use and easy to maintain.
- Instant Pricing/Booking
Instant and on-demand features will start claiming a bigger portion of the industry. Traditional shippers are starting to move towards a more connected and immediate electronic and digitized response to their spot and contracted business needs. Speed, reliability and just-in-time are needs that modern shippers have, which will make instant truck booking an essential technology.
- Deep Neural Networks: beyond pricing and sourcing
Loadsmart relies on machine learning processes and complex algorithms to allow instantly booking of a truck and to identify the best truck positioned to move each load after the booking the shipment. As more data becomes available and volume increases, deep neural networks will claim a bigger part of the success on the right pricing and sourcing computational-processes. But more importantly, these neuron-mimicking flows will also change repetitive human responsibilities to computer generated tasks (without the need for task-specific programming). Identifying potential issues before they actually happen – or are known – will be of great value in the logistics industry.
Do you agree? What trends do you see for 2018?