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TradeSun Acquires Leading ESG Company, Paving Way for Further Innovation in Trade

tradesun

TradeSun Acquires Leading ESG Company, Paving Way for Further Innovation in Trade

TradeSun, a leading provider of artificial intelligence solutions for trade compliance and automation, has acquired data company Coriolis Technologies, to expedite ESG-compliant trade.

The strategic acquisition will allow the TradeSun network, of global and regional banks around the world, to expand with further innovation across trade and the supply chain. It follows a partnership agreement by TradeSun and Coriolis earlier this year.

TradeSun will now deliver Coriolis’ ESG products, including the independent ratings-based platform developed with more than 50 financial institutions. The platform scores, monitors and verifies supply chain players against the 17 UN Sustainable Development Goals, as well as other key regulatory frameworks such as the EU Taxonomy. It facilitates supply chain transparency by measuring ESG impact throughout all tiers in trade supply chains.

The acquisition is the first in TradeSun’s expansion plans, acting as a catalyst to fulfill its vision of seamless, digitalized and more sustainable trade flows that allow regions and their people to prosper.

Dr Rebecca Harding, Coriolis Founder, will act in a strategic advisory capacity going forward.

About TradeSun

TradeSun is an innovator and leader in trade digitalization. Our award-winning AI-powered platform for trade finance processing and compliance empowers our customers to reduce risk and fuel growth by leveraging state-of-the-art technologies. The TradeSun Platform is a one-stop solution that automates document review, significantly reducing processing times. It offers real-time compliance, covering trade-based money laundering, dual use goods, fair price, vessel tracking and sanctions.

analytics

Location Analytics Market: Top Key Trends that will Boost the Industry Growth through 2026

The global location analytics market size is poised to expand at substantial CAGR during the forecast period. Location analytics uses advanced technologies like Artificial Intelligence, Natural Language Processing (NLP), and Machine Learning (ML). They are used to find out the location data of customers to provide customized solutions for all their personal and business needs.

Enterprises across the world are increasing their focus on collecting dynamic location data to identify the preferences and tastes of the customers. This piece of information is quite useful for them as it helps to create effective marketing strategies. It even helps in identifying patterns in customer behavior and purchases which eventually assists them in making more informed decisions in the future.

The invention of GPS and GIS technologies has taken the world by storm. These are some of the most sought-after technologies to track down any location, no matter how far it may be. Based on the data about the number of times the customer has visited a place and the frequency of taking the same route, marketing companies provide customized suggestions that help customers take informed and timely decisions.

Some of the trends that will positively impact global location analytics market growth are as follows:

Rising use of GPS and GIS technologies in Europe:

Europe’s location analytics market will reach a valuation of more than $7 billion by the year 2026, according to market experts. GPS and GIS technologies are some of the most sought-after and advanced technologies and have seen a period of boom in demand among young consumers in the region in the past decade.

The main reasons for this are that these technologies help in location tracking, transferring real-time information to businesses and monitoring and tracking consumer behavior and buying patterns. Industries across the region like banking, insurance and retail are not essentially location-based industries but do take location tracking into consideration while processing insurance claims during natural calamities. They make use of the precise geographic coordinates to find out the area of disaster and work accordingly.

Scope of location analytics services in Europe:

The location analytics services segment will showcase strong growth in the coming years, according to market reports. Governments in countries like Italy, Germany and the UK are increasingly using location analytics in various industries like defense, construction, transportation and retail. Location-based marketing is on the rise in these countries as customers nowadays prefer to get customized information to make more informed decisions while purchasing their products. The adoption of smartphones by the younger generation is adding to the demand for location analytics services in the region.

Europe BFSI segment will boost demand for location analytics:

Out of all the segments undergoing digital transformation, the BFSI segment will contribute significantly towards the rise in demand for location analytics solutions in Europe. The banking sector is increasingly adopting location intelligence technologies to help in carrying out various activities like increasing safety in monetary transactions, route analysis, record management of customers and ATM network management.

Outdoor positioning location analytics use in North America:

North America’s location analytics market is predicted to be worth $8 billion by the end of the forecast period.

The outdoor positioning segment will play a vital role in the overall advancement of the location analytics market in North America. Companies that operate at different locations have to use geographic analytics to get in-depth insights and make sound business decisions. Advanced analytics are being used by businesses to make plans for outdoor spaces. This kind of positioning even helps companies track objects and customers with the help of real-time locations.

Use of thematic mapping and spatial analysis in Canada:

Canada will play a vital role in encouraging the rise in demand for location analytics solutions in North America. The thematic mapping and spatial analysis segment in the Canadian market will experience substantial growth in the coming years as these tools are being increasingly used in the field of business intelligence.

With the help of thematic maps and spatial analytics, businesses can get a visual representation of their future action plans. In November 2020, the New Brunswick Department of Transportation and Infrastructure (NB DTI) was awarded for its creative use of GIS and location analytics to identify problems in road construction and having long-term plans for changing old culverts.

Google is another example of product innovation as its product, Google Maps, has an AR-enabled Street View mode that helps the user find real-time directions and custom recommendations as well.

Effective supply chain planning application in APAC:

Location analytics market size in Asia Pacific is reported to reach more than $8 billion by 2026. The supply chain planning and optimization segment will contribute significantly towards boosting location analytics services use in the future. There are several obstacles that supply chain organizations have to face while transporting raw materials or finished goods from one place to the other. With the use of location-based analytics, these problems can be effectively sorted out and delays in delivery can be greatly reduced.

For example, the Philippines National Economic and Development Authority, in May 2020, announced the launch of advanced location analytics solutions to identify the disruptions in supply chain management during the COVID-19 pandemic. This greatly helped the officials to manage their supply chain operations and work in a more efficient manner, with the help of real-time data and visibility.

Role of COVID pandemic in APAC location analytics market:

The COVID-19 pandemic greatly affected different businesses across the world with countries like India and China being adversely affected by the virus outbreak. This resulted in tremendous rise in smartphone usage across the region, leading to increased use of location analytics solutions. The Government of India has immensely benefited from the use of this as it has helped the officials in conducting effective contact tracing of people who have come in contact with COVID positive patients.

Some of the key organizations providing location analytics solutions and services across the globe are Cisco Systems Inc., Alteryx Inc., Esri Global Inc., HERE Global, Google LLC, IBM Corporation, SAP SE and many others.

food

7 Industry Experts Weigh In On Blockchain and the Fresh Food Supply Chain 

Editor’s Note: While the writer filed this story before the magnitude of the global pandemic was known, the subject matter is even more vital now. Because if living with COVID-19 has brought to light anything, it is the importance of an unbroken fresh food supply chain. What follows are seven supply chain industry experts weighing in on blockchain, sharing their unique perspectives regarding challenges and adoption, with a focus on the fresh food supply chain.

On Jan. 4, 2011, President Barack Obama signed into law the Food and Drug Administration Food Safety Modernization Act (FSMA). One provision of the Act was that the “FDA will have access to records, including industry food safety plans and the records firms will be required to keep documenting implementation of their plans.” The intention of this mandate was clearly to safeguard the health and safety of the American public.

But there is a problem here. These records are stored all over the country on paper, in file cabinets located in thousands of places. So when there is a serious problem of contamination with, say romaine lettuce as there was in November 2018, and again in November 2019, this explains why it can take the FDA 45 to 60 days backtracking just to locate the records, with potentially thousands of farms under review for contamination. If these records were accessible through blockchain, the potential contaminated farms would be whittled down from thousands to less than 10, and identified within a matter of seconds.

Reasons like this make a strong use case for blockchain; it is why so many food supply chain industry leaders are focused on establishing a universally accepted blockchain platform, with particular focus on the fresh food supply chain.

Building a blockchain ecosystem for the fresh food supply chain, by bringing manufacturers, distributors, retailers and suppliers together is a seemingly insurmountable challenge to many of us involved in the industry. Let alone factoring the entire supply chain for food and beverage, and all consumer goods.

Luckily, there are those people who do have a keen perspective on blockchain, with not only an optimistic view of it, but solutions as well. I had the opportunity to interview seven key supply chain thought leaders on the subject of blockchain and the fresh food supply chain. These were: John Haggerty, vice president, Business Development, Burris Logistics; Steve Tracey, executive director, Center for Supply Chain Research at Penn State Smeal College of Business; Kevin Otto, senior director, Community Engagement, GS1 US; Rick Stein, vice president, Fresh Foods, Food Marketing Institute; Rick Blasgen, president and CEO, Council of Supply Chain Management Professionals; David Shillingford, CEO, Rising Tide Digital & Team Member, Resilience360; and Stephen Rogers, vice president, Blockchain Initiatives for Supply Chain, IBM.

Their viewpoints were diverse, reflecting their respective roles in the industry. And their responses were incisive and broad-reaching, with a very practical perspective on what is expected to realize a universal blockchain platform.

John Haggerty – Vice President, Business Development, Burris Logistics

Burris Logistics operates an expanding network of temperature-controlled warehousing and distribution centers from Florida to Massachusetts, also expanding west to Oklahoma. The company provides leading-edge logistics, transportation and supply chain solutions coast to coast through four distinct business units: Custom Distribution, PRW Plus (Public Refrigerated Warehousing), Trinity Logistics (transportation and freight management), and Honor Foods (a redistributor of frozen, refrigerated and dry food service products).

“There are systems of data exchange already in place in the fresh food supply chain that support blockchain. The GS1-128 barcode, for example, used in the meat industry, provides a global standard for exchanging data between different companies, enabling serialization and expiration to be encoded. Some seafood products, such as scallops fished in the North Atlantic, are tagged with GPS coordinates, recording location, date and time when harvested. Like the data acquired from the produce inspection capability and our customer portal, GS1-128 information is readymade for integration with the blockchain.

“We are constantly testing ourselves and readying ourselves to partner with those vendors and customers who want to integrate with blockchain. But as a solution provider, we are a participant in the process. We are blockchain ready, but those suppliers producing the products and those retailers receiving the products need to be the initiators of blockchain.”

“Utilizing blockchain to validate temperature-controlled services and product integrity is an extremely valid and attractive option. But only a small percentage of participants in the fresh produce supply chain, such as Dole and Driscoll’s, provide continuous tracking of products from producer to the retailer via blockchain.

“The challenge with blockchain in temperature-controlled foods, and indeed for the entire supply chain, is more fundamental than integrating blockchain-enabled companies, it is system standardization. Establishing a universal language with developed and managed standards from a recognized independent standards agency, which enables the openness like we enjoy with the Internet is where we need to focus our efforts. A uniform standard for blockchain is still a long ways away from being ready and effective across multiple channels.”

Steve Tracey – Executive Director, Center for Supply Chain Research, Penn State Smeal College of Business

The Center for Supply Chain Research connects researchers and professionals from leading organizations within a community that is shaping the future of the supply chain discipline. It is member strong and intellectually active in many facets of supply chain management and the enabling technologies used for collaboration, visibility and integration.

“The underlying technology of blockchain is a distributed ledger technology and encryption, which has been around for a while. It got popularized with bitcoin, and although it uses the same underlying technology, it is almost completely the obverse of how it is used for bitcoin. In a bitcoin use case, the trans-actors are anonymous, and the transactions are public, across a large network base. In a supply chain, the trans-actors are public, and the transactions are private, across a very small network base. You might have 50,000 or more network nodes around a bitcoin transaction, and in a supply chain use case you are talking about much smaller numbers, maybe 10s or 100s.

“Where I see blockchain being applicable in the long run are things like smart contracts. Blockchain could potentially speed up procure-to-pay systems, which would make the velocity of money and the speed of transactions go much faster, and significantly reduce administrative overhead.

“Another great use case is chain of custody in the food business. Being able to track and trace chain of custody from point of origin to point of use. This is another case where you could have big data streams managed with data integrity, creating a high trust value.

“From a data security perspective, one of the myths about blockchain is that it is perfectly accurate. It is not. If you put bad data into a blockchain, the only way to correct that bad data is to go back and append that block with the correct data. So blockchain doesn’t eliminate data quality issues. What it does do is encrypt data in a way you can trust the data. The combination of the encryption technology, the blockchain itself, and the distributed ledger system, where you are actually verifying the same data on multiple nodes in the network, creates a high level of data trust. As long as you put the right data in, and it is verified from the nodes in the network, you have a high level of trust that the data as input is trustworthy.

“The wide adoption of blockchain, in particular use cases, is going to come from pilots through networks of different organizations figuring out actual data sustainability models, and getting all the right players onto the network where they all have buy-in, and actually have a vested interest in having the data. To work, I believe it will need to be a win-win scenario, with the ability for everyone in the network to see value in both contributing and drawing data from the system.”

Kevin Otto – Senior Director, Community Engagement, GS1 US

GS1 US is a not-for-profit information standards organization. With more than 300,000 members, GS1 standards are the most widely used supply chain standards in the world. GS1 US administers the Universal Product Code (U.P.C.) barcode, as well as other information standards and data carriers.

“In our cross-industry blockchain discussions encompassing healthcare, food service, retail grocery, apparel and general merchandise, supply chain visibility is the first use case that companies are looking at to see how blockchain can fit into their operations. Because GS1 already has universally accepted standards in place for visibility that can be used in blockchain, and other data sharing mechanisms, we are in a unique position to foster interoperability between blockchain users. Essentially, GS1 Standards are fundamental to the evolution of blockchain.”

“Because of consumer demand to know more about the quality and origin of the foods they are purchasing, we are seeing a considerable increase in discussions around the ability to constantly monitor the quality of food products as they go through the supply chain, and then feed this information into a blockchain. This need is making it less practical to record and maintain this information paper-based, while at the same time it presents a barrier to getting participants onboard to record this data digitally, like at the farm level where they may not be electronically equipped.”

“In food, companies in the supply chain definitely have to know where a product came from and where it went, per FDA and USDA guidelines. Since GS1 Standards are broadly adopted in the food industry, these standards are being shared electronically, by and large. The challenge of getting smaller upstream suppliers (farmers and other producers) to use GS1 Standards for identifying, capturing and sharing information is therefore a first-step and prime concern, while the challenges of adopting blockchain are being discussed and evaluated. One-hundred percent supply chain visibility cannot be achieved without all participants in a blockchain ecosystem on-board with the same standards of capturing and reporting data. I think it is necessary to have bigger players come forward to push and facilitate smaller participant companies to come to the table.”

“Essentially, the food industry, as well as other supply chain sectors, is engaged in utilizing other systems to achieve supply chain visibility, until they figure out exactly the best way to leverage blockchain technology.”

Rick Stein- Vice President, Fresh Foods, Food Marketing Institute

The Food Marketing Institute (FMI) advocates on behalf of the food retail industry, which employs nearly 5 million workers and represents a combined annual sales volume of almost $800 billion. FMI member companies operate nearly 33,000 retail food stores and 12,000 pharmacies.

“FMI guidance to its members is to work with their supply chain partners and focus on prevention of contamination, increase communication with FDA and supply chain partners, and provide simple and agreed-upon data elements for traceability and flexibility in how those data elements are shared. Our members want to be able to make technology choices on their own, and we fully expect technology to advance as it has done so in the past.

“We firmly believe in the importance of the safety of products and the increased use of technology as a tool to share information among supply chain partners. Our members will choose which technologies they adopt but are moving toward the ability to trace their products back to its origins. Blockchain is among some of the technologies used, but it’s the data within that is critical to the success.”

Rick Blasgen – President and CEO, Council of Supply Chain Management Professionals (CSCMP)

CSCMP is a network of more than 6,000 global supply chain professional members worldwide. It is the preeminent worldwide professional association dedicated to the advancement and dissemination of research and knowledge on supply chain management.

“To me, blockchain is almost like RFID was some years ago. We have this technology that is probably ahead of business practice. People don’t know exactly what to do with it.

“There are a lot of pilots and use cases in progress, people trying to figure out how the technology and the business process will work. But at this point, who knows where it will go. It is a bit of a leap of faith, in a way. But, this is how new ways of doing business are accomplished.

“As a technology which is enabling movement of data between partners, if blockchain produces productivity and offers a more accurate and secure way of transacting business, it will lend toward being accepted by the supply chain. The question to be asked is: What do I get out of it that improves my business process?

“I think the track-and-trace capability will be the main draw for blockchain. Greater visibility into where the inventory has been, and where it is, at any time, in the supply chain will increase productivity. This will drive supply chain leaders to pilot it, and try to figure out how to best employ it in their supply chain.”

David Shillingford – CEO Rising Tide Digital, Team Member, Resilience360

Resilience360, was developed in DHL’s Global Innovation Center, and has since become an independent company receiving venture funding from Columbia Capital. The company is an innovative supply chain risk management software platform that helps businesses predict, assess, mitigate and react to supply chain disruptions and delays.

“There are a number of different ways that blockchain relates to supply chain risk. Ultimately, at the heart of it is having accurate supply chain visibility that you can trust, and sharing this data with all parties involved. This can be done with today’s technology, but in some cases, can be done better with blockchain, because it is data that can be trusted.

“This extends to the legality and paperwork associated with product movement. When a container is moving from point A to point B, specific financial transactions relate to what is in the container, who owns it at any particular point on the Earth and having location verification. This permits financial transactions to be initiated through smart contracts, which would be difficult to do without blockchain.

“Today, the state-of-the-art of supply chain risk management encompasses bringing together two sets of data. One relates to supply chain assets, which could be manufacturing locations or distribution centers, or the shipments that are made between them. This, of course, is being mapped or tracked in real-time in the system. But this is then overlaid with future risk indicators or information about an event that has happened that might be a disruption to the supply chain. These can include weather and geological disruptions, labor issues, political upheavals, anything that might disrupt the supply chain.

“This level of insight and analytics brings together what a company’s supply chain looks like in real-time, combined with what might happen to it given known data. Ultimately what a company wants to know is what it should be concerned about and the actions it should take to mitigate any disruptive events. At its core, a blockchain-enabled supply chain can outperform traditional supply chains because it is powered by accurate data, leading to better evaluation and decision making.”

Stephen Rogers – Vice President, Blockchain Initiatives for Supply Chain, IBM

Since 2016, IBM has worked with hundreds of clients across financial services, supply chain, government, retail, digital rights management and healthcare to implement blockchain applications, and operates a number of networks running live and in production. The cloud-based IBM Blockchain Platform delivers the end-to-end capabilities that clients need to quickly activate and successfully develop, operate, govern and secure their own business networks. IBM is an early member of Hyperledger, an open-source collaborative effort created to advance cross-industry blockchain technologies.

“The Internet of Things (IoT) and blockchain are going to be almost interchangeable because they will be working so closely together in the future. Right now they are viewed as two separate technologies, but they are going to come together. I would even describe blockchain as the most likely operating system for IoT networks because of its ability to provide security.”

“Food, and its supply chain, is one of those that you really want to make it an industry solution. Because having gaps in your information between the store that is selling it, and the farm that produced it, means you really don’t have a solution. You need to have information of where it was grown, where it was shipped to, and if there was any kind of an aggregation point, where that was shipped to for packaging, and where it was shipped for distribution and then shipped to the stores. You want to make sure you can capture all of that information.

“Walmart is starting out with a blockchain pilot with leafy greens, because of the past problems that have occurred with recalls. So IBM is out there with Food Trust, the first and biggest blockchain solution associated with food.” (Food Trust is an IBM blockchain-based solution that brought together a host of companies in the food industry into a network, including supply chain services companies.)

“The technology of blockchain still has a ways to grow. It still needs to be able to support higher levels of transactional throughput. There are a lot of people who describe blockchain as the golden hammer. It is not that. It is a technology. Just like robotic process automation or hybrid cars or AI, it addresses a specific set of problems. It’s just that these problems happen to be big intractable problems, so it is really important.”

___________________________________________________________

Jim McMahon is CEO of ZebraCom, Inc. He writes on industrial and technology solutions, and his features have appeared in more than 2,500 trade and business publications worldwide. You can reach him at jim.mcmahon@zebracom.net.

dachser peru

Here’s How Dachser Peru Continues Operations Despite the Pandemic

Dachser Peru recently announced the successful transportation of two 180-ton locomotives from the Port of Houston to the customer’s Lima facility, further supporting advancements in the region’s railroad infrastructure efforts. Amid the challenges presented by the heavy-lift cargo project, Dachser continues to demonstrate its methods of meticulous and successful planning to keeping customers satisfied while fostering economic growth across the globe. Global Trade had the opportunity to speak with Eduardo Rey, Managing Director at Dachser Peru, on this success and how Dachser is keeping operations going during a global pandemic through careful planning and the use of technology solutions.


Let’s talk about special measures that were taken to successfully transport the two 180-ton locomotives from Port of Houston to Lima, Peru. How did these measures differ from regular methods of transportation?

To move the two locomotives as we did was a special task, indeed. These special tasks require a very detailed plan if you want a successful story. What we did is we took not only one, but several measures in order to ensure success. First, it was the right selection of our service partners. That’s always a priority we require to perform our job well. We ensure to work with reliable companies that are not necessarily the cheapest one, but the ones who offer secure operations. For us, security, especially in these times, is most important.

Secondly, we executed a very detailed plan for the transport itself. We oversaw the big picture plan from the arrival of the locomotives into the port of Houston until the end delivery in a place in Lima, Peru. We were responsible for the whole service from start to finish. While executing this very detailed plan, we considered all the possible challenges that may occur in the process. We always have a plan B. For heavy cargos like this, logistics is not a paper issue. It requires in-depth involvement in the operations. Communication is key and coordination within the processes needs to be very well planned. That’s exactly what we did.

How about the role of technology in the transport of these locomotives? Do you see it changing future processes?

Well, technology in our times is something that needs to be on top of all our activities. Last generation’s equipment has been used for these transports, especially during the last phase of the loco transportation to the final destination in Callao in Peru. A last generation heavy hauler was used to move these units where they were directly discharged from the vessel into the units and transported through the streets of Callao.

There were a lot of air cables, electricity and phone cables by the streets that required us to take care of all the height concerns of the locomotives in order not to cross or to destroy it. Again, it was a very detailed plan. In the end, it arrived at the final destination and discharged over the railroad tracks using 400 cranes, last generation as well. Technology is always on top of our activities.

How is Dachser currently navigating logistics and limitations presented by the pandemic? Has anything really changed?

Dachser is one of the largest worldwide logistic providers. During the pandemic, we have been one of the most active companies around the world. Indeed, our own airfreight charters has been great support for several countries. In Peru, a clear demonstration has been the heavy cargos transport, of course. Despite the legal restrictions due to the pandemic and all the security and safety protocols we followed, we were able to proceed this way. Dachser is acting with full responsibility, following the security procedures and the country regulations in every country we operate in. We are in the logistics business and logistics never stops, even though most of us are working from home. Yes, there are indeed limitations, but nevertheless we are able to ensure a class A logistics service.

How is the company preparing to further support rail infrastructure projects in the future?

Well, having done this latest move demonstrates our full capabilities to organize logistics for appropriate cargoes. Dachser is ready for future opportunities, of course, not only in the rail industry, but for any other industry that supports the infrastructure development in Peru. In our country, we have an infrastructure deficit in roads, ports, airports, etc. Considering the worldwide Dachser network, we are fully prepared to support these developments. To give you an example, we got a call the other day from the ministry of health in Peru because they were trying to move some special equipment for oxygen production. There are so many hospitals that have a need for more oxygen. We are always alert for those kinds of requirements and opportunities.

Dachser is well known in the local market for the perishables export for all its logistics. For example, we have a very well-known and prepared staff of people giving 24/7 service for the exports of fruits and vegetables. In Peru, those products are the main non-traditional exports from the country. That means that our service portfolio is not only focused on one specific industry like projects or trains, but it is actively bringing the best quality for logistics services. Looking at what is most important for us which is our customers’ full satisfaction.

____________________________________________________________________

Mr. Eduardo Rey was born in 1964 in Lima, Peru. He attended the University Ricardo Palma, where he studied architecture.

It was later, through his working experience, that he discovered his true vocation: the logistics industry.

He quickly understood that, in order to get a better sense of the work he was so passionate about, he needs to further his studies, so in 1987 he obtained a post-graduate degree in Foreign Trade and did other various courses related to air and cargo and in 1999 he completed an MBA.

Mr. Rey started his career within the industry as an Export Manager for a trading company that specialized in hydro-biological products. Ever since, he has been working in the forwarding business, for more than 27 years now and to today, he still feels as passionate about his work and the world of transportation, as he was when he started in this domain.

In 2003, he took on an offer to become the General Manager of a local Peruvian freight forwarder and soon was promoted to the role of Managing Director.

It was in 2016 when Mr. Rey was appointed as Managing Director for DACHSER Peru and he brought his extensive experience and deep knowledge of the industry both locally and globally to the company.

Mr. Rey appreciates his initial architectural studies and feels that they are helping him in his every day work and provide him with the organized mind of an architect, when dealing with the daily operations of the company and his team.

logistics

Six Key Technologies for High-Performing Logistics

The fields of logistics, manufacturing, transportation, and supply chains are experiencing a rapid and unprecedented transformation today. The future development of these industries lies in innovation and technology improvement. Recently, 3D printing, the Internet of Things, drone delivery, and other modernizations that have become almost a reality, previously, have been the subject of science fiction. So, let us consider the most prominent implementations to high-performing logistics.

3D printing

“The concept of 3D printing itself has existed since the 1980s. However, only now this technology has become available on a relatively large-scale market. This revolutionary advancement allows almost any company to create devices or their parts from metals, plastics, mixed materials, and even from human fabrics without special expenses” – according to Noah Miller, CEO of PhotoRetouchingServices.NET who plan to provide a new 3D printing service in 2021.

How can this affect logistics and supply chain management?

1. 3D printing significantly expands the production process

2. Increases independence from specialized industries and enterprises

3. Reduces delivery times, eliminating the need to store a large number of finished products in warehouses

The use of 3D printing will lead to drastic changes in the logistics field. Companies will supply raw materials instead of many finished products. Therefore, they will be able to provide 3D printing services at delivery points, which will be an additional source of income.

Smart systems and the Internet of Things

By the end of 2020, the number of connected devices is expected to surpass 50 billion. A world of coupled things is a treasure trove of opportunities for all sectors of the economy, including the trucking industry. Smart devices, connected in one information space, can store important data. For example, technical requirements, customer names, and shipping addresses.

Smart pallets and long-distance containers will make it much easier to track or locate goods in transit. Such systems will not only make it easier for warehouse employees to find, distribute, and dispatch orders, but also help manufacturers to perform maintenance and processing of goods at the end of the expiry date with higher efficiency. Over time, most logistics processes can become semi-automatic.

Tracking shipments in transit with network-connected devices will remove shipping worries. Moreover, in this way, it will be possible to check if the vehicles are in need of repair and receive information about the mishandling of some goods.

At the moment, tracking goods and services on the road is one of the major problems of logistic services. The use of the Internet of Things, along with the use of cloud GPS-systems, will allow you to track individual consignments easily. 50% of logistics service providers are already using cloud services, while 20% are planning to do so.

As data moves to the cloud, logistics services become available through pay-on-demand. This means that small businesses no longer have to spend money on complex IT solutions. They only pay for what they need.

In its turn, the Internet of Things is based on the use of radio frequency identification (RFID) chips, which communicate with each other. Chips attached to the individual elements of the consignment transmit data such as:

-product identification

-location

-temperature

-pressure and humidity

Once there is a notification of any negative action, it will be a trigger to promptly prevent any possible damage or theft. The chip can signal the onset of adverse weather conditions, such as high temperature or humidity. It can also transmit road condition data and info related to  specific parameters, such as average speed and traffic patterns, or return information.

Supply and transportation chain management is a relevant issue for logistics managers and directors. Therefore, logistics companies will benefit greatly from using this technology. Also, they will be able to get an increased number of satisfied customers.

Drone delivery

A drone is an unmanned aerial vehicle. It can be either controlled remotely or fly autonomously, using programmed flight routes arranged in its system. Drones are small, light, and quite cheap to operate. They manage to fly where other means of transport fail to perform.

In the near future, operators will use drones to promptly deliver small packages in both cities and remote areas. Due to their high speed and accuracy, it is possible to reduce the supply chain and significantly decrease transportation expenses. As a result, courier companies may incur financial losses. There are certain obstacles that hinder the widespread use of this technology: the issue of government regulation, air traffic safety, the permitted size and weight of the drone.

e-AWB

The Electronic Air Waybill, e-AWB, is the first step towards digitalizing the industry. It is a standardized electronic version of the existing paper air waybill that accompanies cargo from shipper to delivery. E-AWB improves the efficiency of tracking and processing cargo data, as well as the transparency and safety of the route.

In addition, it reduces expenses and delays. The International Air Transport Association, IATA, announced the transition to e-AWB in early 2019. Major airlines such as Lufthansa and Emirates, have already implemented the electronic air waybill. Delta Airlines and United Airlines are likely to follow suit soon. Thus, by the end of 2020, 80% of air waybills will be electronic.

Blockchain

Since its advent in 2008, blockchain has never fallen off the radar in any industry. Unfortunately, the complex concept is difficult for many logisticians to understand. Despite its great potential, it has hardly evolved.

In addition, many logisticians are tired of the very frequent use of this term. As you know, blockchain is an open ledger of transactions distributed among computers on the network. Since everyone in the common blockchain has access to the same ledger of transactions, there is complete transparency that makes it impossible for users to hack the system. Thus, it eliminates the need for third parties.

In the logistics industry, blockchain can make it easier to exchange sensitive data for different carriers or shippers. Also, companies are able to create trade finance and supply chain finance solutions.

Digital twins

Digital twins, electronic copies of a physical object or process, are one of the most exciting trends in logistics technology to follow in 2020. Many logisticians know that products will never be the same as their computer models. However, the technology of digital twins changes it. Now, the physical and digital worlds can be combined into one, which allows us to interact with an e-model of an object or its part in the same way as with their physical counterparts.

The potential for using digital twins in logistics is enormous. In the transportation sector, this novelty can be used to collect products and packaging data. In this way, it uses the information to identify potential blind spots and recurring trends to improve future operations.

Web technologies, programs and transport management systems do not stop evolving. Currently, the logistics industry is experiencing yet another revolution. The latest technologies are mostly related to speed, accuracy, security, and continuous delivery.

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Marie Barnes is Marketing Communication Manager at Adsy guest post service and a writer for gearyoda. She is an enthusiastic blogger interested in writing about technology, social media, work, travel, lifestyle, and current affairs.

industries

Most Affected Industries By US-China Trade War

Since Donald Trump became president, the US and Chinese governments have been at loggerheads after the Trump administration started imposing hiked tariffs on goods coming from China. This came hot on the heels of a trade deal that the two governments had been negotiating on, a deal that was supposed to strengthen trade between the two global economic powerhouses. Hundreds of billions of dollars’ worth of Chinese goods are now being tariffed at 25%, up from 10%. China is threatening to come up with stringent countermeasures, which threatens to precipitate a full-blown trade war.

Trade experts are predicting that American companies that import goods from China will be paying unreasonably hefty taxes to their government by 2020. That could cripple their operations.

This trade tension has precipitated many harsh and far-reaching consequences. Manufacturers and importers in the US are now cutting costs, postponing key business deals, and putting off investments in a bid to cushion the business-crippling impact of the trade wars. Moody’s Analytics- an American economic research firm- estimates that this has already cost 300,000 Americans their jobs and if things don’t change for the better, more than 450,000 job opportunities will have been quashed by the end of 2019. This impact is being felt across industries, although some industries have been affected more than others. Here are some of these industries:

The Energy Sector

Steel and aluminum are very important to America’s energy sector. They are used to construct oil pipelines, to build solar panels, to distribute electric power- you name it! President Trump has proposed an additional tax on aluminum and steel imports from China, which has already caused the country’s energy PD to hike significantly. Projects in the energy sector will keep getting pricier, which in turn will force consumers to pay higher prices for clean energy. If the price gets out of hand, there is a serious danger of many Americans ditching the expensive clean energy for the cheaper dirty energy.

Automobiles

American automakers sell most of their products in the Chinese market. In 2018, as a countermeasure, the Chinese government raised tariffs from 15% to 40% for all automobiles entering its market from the US. This hasn’t affected the Chinese so much, bearing in mind that the Asian nation has a thriving automobile sector that can satisfy the local market.

On the other hand, American electric automakers including Tesla Inc. (TSLA) will be feeling the pinch in the long run if the China-US trade tension deteriorates. Auto parts sellers will also stand to lose if the situation won’t improve. That being said, things are looking up for this industry as the Chinese government promised to suspend the tariffs as an act of goodwill. If the US could return the gesture, fortunes are likely to turn in favor of American automakers.

Translation Industry

Digital technology has allowed many American firms to expand their products and services in China. The Asian market helps companies from the west to generate a consistent growth rate of 4-5% per annum, sometimes more. That is why localization services have become very marketable in the recent past: If you want to expand in China, you should consider hiring professional translation services to handle all your localization projects, failure to which you could greatly hurt your chances of understanding or impressing your Chinese customers. But then with the growing trade tension, lesser companies will be keen to move to China in the future, which will mean lesser need for translation services. The translation industry in China could really suffer going forward.


Food and Agribusiness

The Chinese government cut off imports of corn, soybeans, nuts, lobster, and other farm products from the US. The American farmers are now struggling to find a market for their produce, which has, in turn, affected their productivity. Tractor manufacturers and farm input sellers are also feeling the pinch. Processed food companies in the US might be forced to lay off workers and close some of their processing plants if things remain as they are.

Tech Sector

Most tech companies in the US have opened shops in China, some of them including NVIDIA Corp. (NVDA) and Intel Corp. (INTC). Chinese tech manufacturers, on the other hand, depend on American semiconductor suppliers to run their businesses. An escalation in the U.S.-China trade war could really hurt tech traders in both countries.

Conclusion

The tension between the U.S. and Chinese officials could end up hurting key industries in both economies. It could be a battle over who will control international trade, but it can easily boil over and become counterproductive. The sad thing is that no one really knows for sure if the tension will rage on or we still are going to witness more draconian tariffs. Only time will tell.