The shipping management and the supply chain industry can be considered the wheels of the modern world. This dynamic field is responsible for globalisation, revolutionising the export-import industry and ensuring that essential goods are available in every part of the world.
As with other fields, technology is becoming the focal point for all kinds of innovation in the shipping management industry. This has also led to the emergence of new trends that are reshaping the industry.
If you are interested in a successful career in the shipping management industry and would like to learn more about the latest trends in the field, this blog will be a helpful read as it discusses four emerging patterns in shipping management that are revolutionising the international logistics industry.
End-to-end logistics management is becoming more common
Logistics management involves the inclusion of many small and large companies throughout the world. For instance, ensuring the delivery of a shipment from Beijing to Chicago may require the cargo to be handled by customs brokers in both countries, trucking companies, rail operators, shipping companies, feeder operators and courier services.
Multiple handling by so many third parties can be chaotic and confusing for both the customers and the parties involved. In addition, each party may have access to customer information which can leave the system vulnerable to data breaches.
A recent trend in the industry is to handle all aspects of logistics management from the starting point to the end. End-to-end logistics management is helping companies avoid the extra costs of hiring third parties and removing the confusion in warehouse management.
IoT is increasing supply chain visibility
The introduction of the Internet of Things (IoT) has profoundly impacted the industry. Previously, logistics visibility was dependent on manual updates by each party involved in the shipping process. A lack of updates could lead to a ‘blind spot’ in the chain and impact the movement of goods down the line.
With IoT being used to connect all the smart devices at each movement point of the supply chain, logistics visibility has dramatically increased. It has also enabled uninterrupted location-based tracking which has simplified the monitoring of the movement of shipments from one point to another.
Data analytics has become the basis of business decisions
Business data generated from the shipping management industry holds a lot of importance for supply chain companies. Logistics providers can collect a lot of data like custom codes, transportation costs, product-pricing in different countries and shipping management methods.
This data can provide the business analysts in shipping management companies opportunities to leverage the data to extract more out of their supply chain and improve the efficiency and speed of the shipping processes.
Green initiatives are becoming more common
With global warming on the rise and environment protection in focus, green initiatives are driving massive changes in shipping regulations and the business decisions of supply-chain companies.
According to a study by the University of New York (NYU), sustainable products accounted for almost half of the consumer packaged goods market by 2018. This has led the world’s supply chains to become circular rather than linear, i.e. supply chain organisations are looking at ways to recycle, repair and resell goods in different forms.
The growing focus on environmental conservation has also impacted global logistics regulations. For instance, the EU has mandated all its member countries to recycle at least 50% of their packaging waste. These laws have motivated supply chains to look for ways to reduce their carbon footprint and make their operations more sustainable.
Being aware of the latest trends in the shipping management and the supply chain industry is beneficial if you want to join this field. You can also enhance your career prospects in this industry by pursuing advanced degrees in shipping and logistics management.
The Berlin School of Business and Innovation (BSBI) offers an MBA in Maritime and Shipping Management which can help establish your position in this fast-growing area. This business degree will allow you to work globally in any managerial capacity with companies involved in supply chain and maritime management. The blended study format of this BSBI course can provide convenience and flexibility. You will also graduate with 90 European university credits which can be useful should you choose to study further in the continent. Click here to learn more about the MBA Maritime and Shipping Management programme at BSBI.
This article was written by Sweha Hazari and edited by Anisa C.