How the Digital Revolution is Affecting APAC Shipping Markets

How the Digital Revolution is Affecting APAC Shipping Markets

How the Digital Revolution is Affecting APAC Shipping Markets

Posted

Tuesday, September 29, 2020

Our colleague Tim Polson shared insights on the impact of digitalization in shipping markets and how companies can maximize the opportunities that digitalization offers at the Baltic Exchange ICS Webinar Series 4: Lecture 1 on September 16th, 2020.

Our colleague Tim Polson shared insights on the impact of digitalization in shipping markets and how companies can maximize the opportunities that digitalization offers at the Baltic Exchange ICS Webinar Series 4: Lecture 1 on September 16th, 2020.

Our colleague Tim Polson shared insights on the impact of digitalization in shipping markets and how companies can maximize the opportunities that digitalization offers at the Baltic Exchange ICS Webinar Series 4: Lecture 1 on September 16th, 2020.

The presentation addressed four key areas:

  • Flattening of peaks and troughs in market trends.

  • Increasing importance of human touch.

  • How data is shaping standardization.

  • And together, how these have created a new space for companies to venture into - optimization.

Some market leaders manage commercial activities and finances with the most advanced digital tools available, such as blockchain, IoT, algorithms and through digital ecosystems. We see the competitive advantage this has afforded these companies. However, inventory management and the logistics associated with the products they are producing, and selling are usually neglected by digitalization and often managed by manual processes.

How is your company managing its supply chain and logistics today?

An analysis of the existing digital solutions in the industry today has emphasized the need for improving collaboration, not just internally throughout the supply chain but also with external stakeholders. The norm of withholding information to profit is long gone. Market data is increasingly available and predictive models are becoming smarter; companies need to leverage on the collaborative aspect that digitalization is offering.

Improving collaboration enhances visibility and has proven to translate into tangible benefits - increased revenue, reduced costs, and savings on working capital. Just by virtue of being able to “see better” companies are empowered to stay one step ahead and a cut above their competitors when it comes to decision making.

In essence, digitalization is fostering transparency and collaboration in shipping markets and those who want to stay ahead need to capitalize on it instead of waiting for the majority to jump on board.

As Charles Darwin fittingly said, “It’s not the strongest or the fittest that survive, but the most adaptable to change.” – are you?

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Stay ahead of the curve with us

Subscribe to the CargoValue newsletter to receive exclusive insights and updates tailored for industrial companies like yours. We'll keep you informed about the latest industry trends, innovative solutions, and best practices to optimize your maritime logistics and procurement.

What you can expect:

Expert insights and in-depth articles on maritime logistics and supply chain management

Updates on our latest projects, partnerships, and technology advancements

Success stories from leading industrial companies leveraging CargoValue's solutions

Exclusive invitations to webinars, events, and networking opportunities

Join our community and transform the way you manage your maritime supply chain.

Stay ahead of the curve with us

Subscribe to the CargoValue newsletter to receive exclusive insights and updates tailored for industrial companies like yours. We'll keep you informed about the latest industry trends, innovative solutions, and best practices to optimize your maritime logistics and procurement.

What you can expect:

Expert insights and in-depth articles on maritime logistics and supply chain management

Updates on our latest projects, partnerships, and technology advancements

Success stories from leading industrial companies leveraging CargoValue's solutions

Exclusive invitations to webinars, events, and networking opportunities

Join our community and transform the way you manage your maritime supply chain.

Copyright © Klaveness Digital AS 2023. All rights reserved.

Copyright © Klaveness Digital AS 2023. All rights reserved.

Copyright © Klaveness Digital AS 2023. All rights reserved.