Innovation is key to growth in any industry and discipline - Shipping and Freight is no exception to this rule. Here is a look at the three key logistical innovations that have transformed the landscape of international trade over the last 60 years and something that is keeping the business of trade alive. The logistics of international trade can be defined by three key processes: the movement of goods or services, the measurement of this movement, and the processing of what is being moved. Each one of these processes face significant limiting factors when carried out on an international scale due to various geographical barriers (such as seas, mountains, and simply long distances). Therefore, the landscape of international trade as we understand it today has been shaped by the innovations in logistics that have helped us navigate and overcome these limiting factors. Innovations that have transformed logistics and international trade are; containeristion, information processing technologies, and fibre optic cables.
Transportation and logistics businesses around the globe are focused on maximizing supply chain efficiency in order to sustain profitability and viability. However, to reach this level of performance, they need to make end-to-end improvements. Complete visibility facilitates more effective, timely decisions and reduces delays through quicker detection of issues.