Home Business Latest Business How Do Global Tariffs Impact The Logistics Industry?

How Do Global Tariffs Impact The Logistics Industry?

car accident

Logistics is crucial to any business supply chain, as it enables a smooth transaction of sale from the time an order is placed to the actual delivery of the goods to the consumer.

Freight delivery entails many details beyond just trucking. In fact, without the proper inventory control, pricing, ticketing, merchandise assembly, and the actual unloading of the freight, the entire logistics system would be out of whack.

The problem is these functions are often done manually, which can be time-consuming and result in multiple errors and miscommunications between parties. They can also cause freight delays, which can be costly to both companies as well as consumers.

“The logistics industry has remained largely a manual intense industry. With the advancements of blockchain and AI, there are now enough tools to build a platform that intuitively allows shippers and truckers to ‘trust’ a system for recommendations, visibility and automation.” said Ashik Karim of 1SHIFT Logistics. “Over the next five years, we will see a refresh of how this industry operates through the power of technology.”

1SHIFT Logistics by LiteLink Technologies is a software platform that utilizes advanced technology, such as artificial intelligence (AI), to provide an Eco-network for end-to-end logistics, which enables companies to better micromanage their shipments for smoother transactions.

With the use of this advanced digital technology, companies are afforded real-time tracking transparency, which provides many benefits. The technology enables all parties in the supply chain to accurately detect important details concerning their shipment, such as the location and speed of their freight. This helps them better manage the shipment and eliminate late deliveries, late fees, and disagreements.

It enables companies to view valuable market information in real-time, such as historical pricing, fuel prices, weather, backhaul capacity, and partner ratings, which can help with price negotiations.

The program also records the details of each shipment, which allows companies to automate the paperwork, thereby decreasing the risk of issuing inaccurate invoices to other parties.

1SHIFT Logistics users also have the option of partnering with other users of the program, which then provides all parties access to the most cost-effective shipping rates as well as helps ensure all loads are covered.

LiteLink Technologies is dedicated to providing economical managed solutions for businesses of all sizes through the use of proven digital technology. The technology has been shown to improve resource allocation as well as efficiency, resulting in greater profits.

The LiteLink team is comprised of some of the most experienced logistics professionals and tech experts who together have provided clients, including large scale companies like Wind Mobile, MDA, and TELUS, with some of the most practical solutions for real-world applications.

Challenges Of International Shipping

International shipping presents its own share of challenges for the shipping industry, such as the renegotiation of tariffs. This can sometimes lead to steeper tariffs that cause interest rates to increase, which in turn results in decreased shipping volumes.

Ocean shipping is impacted the most, which translates to lower profits.

When this occurs, it creates many uncertainties for companies, which can result in delayed shipping or lower than expected loads.

However, analysts advise this can be successfully remedied if all parties in the supply chain could interact and share information in real time– which 1SHIFT Logistics was designed to help companies achieve.

In the end, 1SHIFT Logistics helps make the logistics industry more economical by eliminating many of the archaic tasks that can actually add to the costs, which allows both businesses and consumers to save money in the long run.

This is especially beneficial when tariffs increase due to unfavorable negotiations, causing many companies to stagger to find a way to cut costs. It also helps eliminate miscommunication between companies that can cut into a company’s bottom line.

“We have seen the telecom, cable, and auto industry transform, the logistics industry has always lagged due to poor adoption and we see a way to improve this industry with technology, translating to satisfied customers, drivers and shippers, ” said Karim. “Everyone wins with better technology.”

Melissa Thompson writes about a wide range of topics, revealing interesting things we didn’t know before. She is a freelance USA Today producer, and a Technorati contributor.