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Investors Pumping Money into Logistics Technology

As more companies race to digitize operations to help address the world’s supply chain gridlock, an investment rush into logistics technology has emerged.

According to The Wall Street Journal, many supply chain and logistics technology companies are drawing big investments, including those focused on tools for operations such as managing warehouses, matching freight loads to transportation capacity, and mapping out cost-effective routes to move goods.

“Shipping bottlenecks and shortages of everything from semiconductors to chicken wings are drawing more attention to technology aimed at streamlining supply chains and boosting efficiency in distribution networks. Companies are also looking to automation and software to help tamp down rising logistics costs and meet growing demand for e-commerce and delivery services.”

This significant advancement of and attention to logistics technology driven by the pandemic and subsequent e-commerce surge echoes recent comments from Bart De Muynck, VP analyst for transportation technology at Gartner Inc.: “The dramatic growth of parcel volumes, and the increasing complexity and breadth of delivery networks, has only heightened the need for more advanced, flexible, and adaptable multicarrier parcel management technologies.”

Navigating supply chain challenges and the complexity of global distribution scenarios can make it difficult for shippers to meaningfully plan shipments and compete in the same-day delivery economy. That’s why investment in logistics technology has become so critical for shippers looking to meet today’s consumers’ delivery expectations.

With the right multi-carrier shipping software that supports a higher degree of automation, shippers can effectively manage carrier contracts, rating, rate shopping, carrier compliance, delivery event track-and-trace, and more – all in one solution. The agility of a cloud-based multi-carrier shipping system offers the ability to scale quickly to accommodate surges in shipping volumes and quickly onboard new carriers with minimal impact on internal IT departments.

Shippers seeking to optimize their parcel shipping strategies can achieve immediate benefits by turning to multi-carrier shipping systems to get the most value from their transportation networks – automating carrier service rate shopping according to their business rules and within their own contracted carrier network to ensure the right carrier and service is selected to meet customer expectations for the best cost.

Utilizing this advanced technology combined with other high-value offerings like business intelligence can provide shippers with a roadmap for future success by aggregating, normalizing, and reporting transportation data while also offering insights to help contain costs and improve operations.

In today’s global economy, businesses can no longer overlook the importance of logistics technology. Parcel shipping technology is poised for continuous improvement, delivering ongoing, cutting-edge functionality and increasingly intuitive operational platforms that make it possible to reduce transportation costs, achieve on-time delivery rates, and create best-in-class omnichannel customer delivery experiences.

Contact us today to learn how investing in advanced multi-carrier parcel shipping technology can help your organization take control of its logistics operations.