A seamless flow of logistics requires efficient planning which helps in keeping the costs down. However, due to hidden costs, lack of accurate tracking, non-standardized quotes from different vendors, and complications in freight rate procurement, keeping costs under tab becomes challenging. These issues not only increase costs but also cause a loss of sales. To make things simpler, online logistics marketplaces which assist in friction-free and transparent cost analysis provides an all-inclusive international freight rate which would take several man hours if done manually. 

SMEs need vital information like international freight rates, delivery times of several air and sea freight forwarders. However, with lack of information like multiple carrier choices, accurate delivery costs, and shipping schedules it becomes tough for them to pick the most suitable option. An online logistics industry provides relevant and complete information on a single dashboard to assist companies to make informed decisions. Company’s waste a lot of valuable time in procuring freight quotes, managing multiple freight forwarders, and coordinating shipments due to the shortage of human resources. An online logistics marketplace can help align the process and cut cost simultaneously and effectively manage their human resources.

An online logistics marketplace can simplify and manage multiple orders with the help of single window dashboards with data-driven processes to help handle various orders smoothly. Un-organized freight forwarders don’t have any means to track and share timely updates regarding the progress of the shipment. This can result in loss of revenue and additional costs in terms of penalties. Online logistics marketplaces offer automated and regular updates on shipment status and estimated delivery times.  Frequent and unplanned air or sea freight shipments are expensive especially SMEs who are already in price sensitive markets. Online logistics marketplaces use shipment data and unique algorithms to calculate shipment costs, assess past purchases, and provide consolidated shipping solutions.

If a business uses multiple vendors for freight services then ensuring that shipping instructions are implemented correctly, online marketplaces act as end-to-end logistics service providers to ensure all supplier information and documentation is managed through a centralized dashboard. To procure rates for frequent and multiple logistics requirements is expensive and time-consuming. Online logistic marketplaces can assist in data backed information to select a viable partner, and the contract rates can be for a month, quarter or a year to help ensure a fixed freight forwarding rate.

See Also: CIO Review Client