Global Logistics Market
The global logistics market, pegged at $7.64 billion in 2017, is expected to reach $12.97 billion by 2027 according to the report published by Allied Market Research. That is a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027. Read on to learn more about CALISTA book & track and the importance of digitalising logistics to power global trade and supply chain.
The factors driving the growth of the of the global logistics market are:
- The growth of the e-commerce industry
- Growing adoption of IoT-enabled (Internet of Things), connected devices
- Increase in tech-driven logistics services
- Rise in trade-related agreements
Why Logistics is Important in Trade and Supply Chain Management
Logistics is a critical component of the supply chain. It is the component that helps align shipping and receiving, warehousing, traffic and transportation, production planning, customer service, purchasing, import and export operations, and inventory management.
Since logistics is about the planning and management of goods, services, and information from the point of origin to the point of consumption, many companies regard it as a critical blueprint of their supply chain. If this is not how logistics is viewed in your business that relies on supply chain management, it is critical to change that way of thinking.
Logistics Can Help Improve Efficiency and Reduce Costs
Logistics is used to manage, monitor and coordinate resources for moving goods and products in a cost-effective, timely and reliable manner. In less than 20 years of rapid growth in the global economy, logistics has helped make it possible for product movement to not just meet but exceed consumer demand.
Businesses also found that they can lower costs and at the same improve efficiency and productivity by managing logistics as a system. Creating partnerships, for example, can produce amazing results. Partnerships with warehousers, shipping services, and suppliers and connecting them through automated systems can lower overhead costs and speed up delivery. Streamlining communication and services between multiple components and departments can create a workflow that will in turn increase visibility and understanding of the company’s needs. Companies can use supply forecasts, timely delivery, inventory management, and reliable shipping to lower warehousing costs and purchasing.
How Digitalising Logistics Helps Power Global Trade and Supply Chain
Changing customer demands have always shaped the technologies used by industries. Over the past few years, this helped accelerate the integration of logistics and technology. Customers who often use devices such as smartphones, iPods, tablets and iPhones typically expect to receive the product within 24-48 hours. To meet this expectation, businesses have to make improvements within their supply chain so that they can become capable of expediting order fulfillment and quickly shipping the products using the most timely, reliable and cost-effective way.
To continue to meet customer needs and stay ahead of the competition, a digital transformation of your logistics and supply chain management is required. Digitalising logistics helps you maintain optimized, efficient and speedy services. It also offers the opportunity to use data to improve productivity and discover various opportunities that can help your business grow.
Digitalising logistics makes it possible to use technologies such as sensors, IoT, robotics, artificial intelligence (AI), and data analytics that can work together to help reduce operational cost while making your business more productive and efficient.
Old, inefficient manual processes, under-utilization of assets, and outdated customer interfaces in traditional logistics can easily weigh down your supply chain management and lead to terrible response and delivery times. Using digitized data driven by an advanced, cloud-based logistics system provides visibility, optimization and collaboration among stakeholders in the supply chain.
Digitalising logistics makes seamless exchange of data possible. It also offers granular real time data that can streamline your supply chain system. Access to reliable data and the fast, effective ways to analyze and use all this information is one of the biggest benefits of digitization. Intelligent analysis and use of data have brought about a huge transformation in the logistics industry.
Digitalising Logistics to Power Global Trade and Supply Chain with CALISTA
CALISTA is a global supply chain orchestration platform that provides better supply chain management by bringing together key logistics activities: compliance, physical, and financial. It provides real-time supply chain visibility for stakeholders across the globe. Supply chain visibility, along with a suite of comprehensive and advanced tools, can help streamline distribution and supply chain management.
CALISTA book & track
With CALISTA book and track, shippers can send booking requests to carriers electronically. Easy, quick and seamless freight booking, tracking and management is now made possible.
CALISTA book & track makes it easy to book freight, monitor shipment status, share and edit documents, and create and submit shipment documentation. Efficient and hassle-free freight booking for all modes of transport, from ocean freight, hinterland (barge, rail and truck), to multi-modal logistics can enable various parties and stakeholders to not only move cargo more efficiently but also respond quickly to changes in market and customer demands.
CALISTA book and track helps:
Users track the status of shipments
Users easily connect to more than 90 carriers & NVOCCs
Preview and print Bills of Lading
Users track and trace cargo
Shippers create, cancel, amend or download freight bookings using just one platform
Generate shipping records and documents
Provide the capability to remotely print the Bill of Lading
Users submit shipping instructions
Provide freight at your fingertips
Users handle multi-modal logistics
To learn more on CALISTA book & track and the importance of digitalising logistics to power global trade and supply chain, visit our page on CALISTA book & track or contact us today!
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