We’re happy to share that CoLoadX was again featured in The Loadstar, one of the logistics industry’s leading publications. The Loadstar’s Alessandro Pasetti spoke to our CEO, Fauad Shariff, about “the digital challenges that the ocean freight trade faces,” especially with developing interest in blockchain technology, and increased competition from e-commerce companies.
Fauad spoke about the outlook for freight professionals as the ocean freight industry continues to develop and digitize:
With specific regards to the future of the industry, we believe that freight forwarders and NVOCCs will continue to be relevant, but the nature of these companies will include e-commerce retailers and forwarders who are increasingly ‘digital-first’ in their approach.
Fauad noted that practically every entry into the freight procurement space since 2013 has embraced digitization, with their key offering being price discovery and quoting. But the second-tier offerings, like schedules, tracking, and trucking options, are drawing more interest.
He added that one of the key challenges facing logistics technology is that the industry’s legacy tech often requires today’s innovators to start out by “optimizing garbage” in terms of data sources before arriving at solutions that can deliver effective change.
Finally, Fauad spoke about global tech trends in the ocean freight industry, including the goals of blockchain technology in logistics, and how e-commerce companies are approaching supply chain management.
Read the entire conversation with The Loadstar here (subscription required and recommended).
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