Modernizing the Maritime Supply Chain

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3Q 2018 | IN-5188

 

Transformation Coming to a US$166 Billion Industry

NEWS


The maritime container shipping (dry and reefer) industry boasts the largest value in the supply chain, with a material impact on many countries’ gross domestic product. According to the World Shipping Council (WSC), the trade value is more than US$4 trillion in goods on an annual basis. This industry is a critical part in the often manual, fragmented, inefficient, and expensive End-to-End (ETE) supply chain. A typical shipment can leverage more than 200 interactions and 25 stakeholders.

Digitization of possibly the oldest transport industry includes efforts such as: Big Data and analytics, blockchain, electrification, automation, drones and robotics, and Augmented Reality (AR)/Virtual Reality (VR), as well as developments in digital forwarders and marketplaces for maritime. Multiple factors will support increasing digitization within the maritime shipping industry to address issues from liability, safety and security, ef...

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