Benefits of digital Marketplace for Logistics service providers

 
The Logistics industry has traditionally been sticking to manual operations, which caused highly disjointed functioning and a siloed infrastructure. This led to longer dwell time, high cost on data handling and lack of communication between stakeholders that further led to data inaccuracy.
 
Due to these loopholes, there is a lack of proper communication between the stakeholders and the processes get delayed unprecedently. The need for multi-modal Logistics suites such as e-marketplace is spiking up significantly in the recent years yet very few went onto avail the service considering the cost benefits etc. But the same is now slowly picking up pace as organisations are now rapidly investing on logistics e-marketplace suites. Here are some considerable benefits which is luring them towards e-marketplace.
 

Paperless trade

Paper trails are pretty high in the logistics and supply chain industry. E-marketplace is flipping around the dynamics of the industry and the way it functions. With a complete suite of digital operations, the number of paper documents involved will come considerably reduce as the operations are done online. Digital signature to obtain approval from regulatory authorities, e-docket facility to enable document sharing seamlessly, streamline operations and reduce cost significantly.
 

Free promotion

E-marketplace is a platform which connects service providers and service receivers in a single frame. By doing so, the possibilities of interaction between the two entities grow higher. E-marketplace goes a step ahead and offers a free promotion facility for the Logistics service providers. Therefore, the service receivers can easily identify the one offering the essential services they are looking for. In the meantime, the service provider is not spending a single penny to promote his/her services. This possibly increases the utility of the suite largely and attract several service providers and receivers to be in the system.
 

Optimal utility

Transporters and ground handlers in the airport terminal are always challenged with a long queue of trucks. With a logistics e-marketplace suite, the dwell time comes down significantly and the processing of freight at the terminal as well is optimum. Therefore, faster operations are guaranteed i.e. by leveraging the power of digitisation. Logistics e-marketplace enables all stakeholders to interact digitally and exchange information digitally. Therefore, the truckers can reach the airport terminal at a time when there zero to less of other truckers waiting. Precisely, it is the case of digital resources well utilised.
 

User rating based on service quality

All users are connected in one frame, but which is the best of all and who offers the relevant services that the service receiver is looking for? Most importantly, what is the quality of the service provider? All these questions are answered with a user rating capability which is done depending upon the service quality of the provider. This in turn will raise the stakes of each entity involved in the trade and push them to offer the best solution to all.
 
Already, several software suites such as Cargo Community system, Single Window system and e-services software suites are offering these services on a standalone basis. Logistics e-marketplace is an interactive suite which connects all the stakeholders online on a real-time environment. While the Logistics ecosystem is going towards a 360 degree digitisation drive, e-marketplace will keep it on track and prepare future ready business environment. In the meantime, know how 5G can improve productivity of seaports.