Drayage can seem like a relatively straightforward part of the overall supply chain, but technology is revitalizing and reshaping this vital function all the same.
In recent years, drayage has become something of a black hole in logistics data systems. While warehouses and shippers use data to streamline picking, packing, and shipping, operations at many ports still rely on much of the same technology that has been in place since the 90s.
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The trucking industry was already undergoing major structural changes prior to the COVID-19 pandemic, thanks to new technology, driver shortages, and changing consumer preferences. Now, operational challenges related to both personnel and public safety are creating conditions that will likely accelerate new technology adoption, and could crown new winners and losers in LTL and last-mile.
No single aspect of the world economy has gone untouched in recent months, and trucking is no different. Expected cargo volume, rates, and capacity have been significantly impacted by shutdowns. Forecasting predictions are changing by the moment as demand shifts and local economies close and open (and close again).
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As IoT technologies continue to proliferate throughout the supply chain, careful IoT entitlement management to thwart would-be bad actors is increasingly critical for maintaining cybersecurity. Unfortunately, many firms aren’t keeping pace with changing times.
One study from HP revealed that 70% of the most commonly used IoT-enabled devices contain serious security vulnerabilities. At the same time, more than half of companies likely don’t have the tools, knowledge, or resources to detect a sophisticated IoT attack.
In this post, we’ll define entitlement management in general, dig into why it’s critical for IoT specifically, and cover the five key characteristics you should look for in an entitlement management platform.
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In only a few short years, supply chain companies have made huge investments in cloud storage, IoT infrastructure, and advanced cargo tracking software. This shift away from paper and pen has powered a revolutionary change in data processing and productivity, but it has also introduced new vulnerabilities into the global supply chain.
In 2017, a cyber attack on the world’s largest shipping company, A.P. Moller Maersk, forced the busiest ports on Earth to grind to a halt — and brought cybersecurity concerns to the forefront of discussion in the shipping world. Sadly, the risk of a major cybersecurity event has only increased since then, especially since COVID-19 hit the global stage in early 2020.
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The COVID-19 pandemic has created two very distinct spheres in the global economy.
In the first sphere, shutdowns have flatlined revenue, and led to massive furloughs, layoffs, and business failures. Much of the world has plunged into a recession that may not improve until the end of 2020 (or later).
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Lightning-fast shipping speeds and real-time tracking updates are more important to consumers than ever. The biggest players in the game have set expectations sky high for ecommerce retailers, and many companies are seeking out any opportunity available to gain an edge.
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For decades, retailers have focused on creating leaner supply chains using cost-cutting “just-in-time” approaches.
However, the COVID-19 pandemic has exposed weaknesses in lean supply chains and the just-in-time methodology, and supply chain inflexibility has failed both consumers and retailers.
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On April 7th, 2020, Amazon announced that it would be pausing its third-party delivery service, Amazon Shipping. The last pickup for current customers will be June 5, 2020, and Amazon has not indicated when the program might be resumed.
The Amazon Shipping pilot program launched in 2018, and has only been available in select cities, including New York, Chicago, and Los Angeles. Despite the fact that the service is still in the pilot stage, Amazon Shipping has been a notable competitor of FedEx and UPS in those cities.
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End-to-end supply chain visibility has become more and more essential in the past decade, and as technology continues to evolve, it also becomes more achievable.
Now, in light of the global COVID-19 crisis, supply chain visibility is more important than ever before. From transporting essential materials to responding to potential supply chain disruptions, visibility will be a top concern for companies during this global public health crisis and beyond.
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It’s impossible to ignore the ongoing impact of COVID-19, the pandemic commonly known as coronavirus.
For millions of residents in the world’s largest cities, shelter-in-place orders have all but halted commerce, leading to massive layoffs, market chaos, and a full-scale, ad hoc reimagining of workforce best practices.
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