Got a tracking number? Let’s see where your freight is
The Australian Industry Groups (Ai Group) 2023 survey of Australian CEO Expectations found that 88% of respondents are investing in measures to reduce their supply chain vulnerabilities over the coming 12 months.
When it comes to digitisation, the ocean of opportunities can also resemble a sea of confusion. Shippers have limited finances to invest in technology and even less patience to integrate and test these new systems. So, the age-old issue of being stuck with the technologies you have and not necessarily the ones you want continues [1].
In this article we're setting the benchmark for where the industry is today, where it's heading and who is taking us there. By compiling expert insights from industry and TPM Tech 2023, we've identified the three investments you need to make to get clarity on your supply chains operations.
The effectiveness of data is only as good as its ability to be understood by decision-makers.
When data is presented in a confusing or cluttered way, it can be challenging to understand the key insights and make informed decisions. This problem is particularly acute in the fast-paced and complex world of logistics, where even small delays or inefficiencies can have significant consequences for businesses.
Your data tells a story, so the most effective medium to understand your data is a picture book. Seeing data in the form of charts, graphs and maps is faster to digest than spreadsheets or reports.
We can’t digitalise everything all in one go, the transition must be a gradual one. But why is this transition occurring slower in the logistics industry than in other sectors?
The Australian Logistics Council (ALC) is the powerhouse behind enabling data visualizations for logistics professionals. By leveraging technology and collaborating with industry experts, they craft intuitive visual representations of complex logistics data.
They take it a step further by developing user-friendly tools and platforms that empower logistics professionals to interact with the data. To read more about their influence into Australian logistics policy, you can visit their website here.
The overall freight task in Australia is expected to grow up to 35 per cent between 2018 and 2040 [2].
Even the most data literate teams are constrained to working in siloed environments, with little collaboration between the key players in the sector.
‘Data sharing’ is still a dirty phrase in this industry with security concerns leaving many apprehensive to get behind the movement.
Government legislation like the Australian Simplified Trade System are the key to overcoming these adoption barriers. So despite these hurdles, the data sharing revolution may be in reach sooner than you’d expect.
The National Freight Data Hub, is a $16.5 million commitment from the Australian Government that will support data sharing and the generation of insights to keep Australia moving [3].
This website, currently in its prototype phase, will provide open access to government data such as movement and congestion, road condition and expenditure, volume and value of trade, imports, exports and aviation.
You can visit the Hub's prototype site to see a snapshot of the interactive freight data landscape possible.
Australia has an invisible trade barrier – bureaucratic red tape. Now an ambitious program is being rolled out to finally remedy the mish-mash of rules, regulations and compliance costs that firms endure.
The Simplified Trade System addresses a whole-of-government reform agenda to create a simpler, more effective, and sustainable cross-border trade environment for Australia. You can visit their website to see the strides they're making in bringing Australia an integrated approach to trade.
Due to the consequences of the COVID-19 pandemic, by 2027, the worldwide digital transformation spending in logistics is expected to reach $84.6 billion [4]. Now, the transport & logistics sector faces the daunting challenge of catching up with the digital revolution.
In a world where speed, accuracy, and real-time visibility are paramount, utilizing digital platforms is not just a choice, but a necessity for businesses looking to stay competitive and meet the ever-increasing demands of customers.
Despite digitalisation’s ability to open doors to greater visibility and agility, there’s still financial, security and educational barriers to its wide-scale adoption.
We’re dedicated to leading the sea change as the logistics industry begins embracing data, technology and sustainability. While we're all for making waves, our focus is on building strong partnerships that make the industry more efficient, transparent and sustainable.
Running a tight ship is easy if you have the right tools. That’s why we’ve created:
Is international logistics too fragmented, complex and volatile to be made completely immune to shocks? It’s hard to tell. What we do know is breaking tradition, one innovation at a time, takes tedious tasks off your plate, saving you time and money so you can focus on growing your business.
Get in touch for a free demonstration and make the leap to a more resilient supply chain today.
[1] Journal of Commerce. (2023). “TPM23: Picking Up the Pieces“. https://events.joc.com/tpm/program/theme.html
[2] Freight Australia. (2023). "What is the Strategy". https://www.freightaustralia.gov.au/what-is-the-strategy
[3] Australian Government. (2023). "National Freight Data Hub - prototype website". https://datahub.freightaustralia.gov.au/
[4] GlobeNewswire. (2020). "Global Digital Transformation Spending in Logistics Industry". https://www.globenewswire.com/news-release/2020/11/17/2128509/0/en/Global-Digital-Transformation-Spending-in-Logistics-Industry.html
All quotes have been sourced from TPM23 Interviews linked below.
[5] TPM TV. "Episodes of exclusive TPM content". March 3rd 2023. https://events.joc.com/tpm/video/tpm-videos.html
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