Drop the box: Drop by Hyland’s transportation and logistics virtual forum Relying on legacy technology will make it impossible for transportation and logistics companies to compete.

The supply chain is essential to business; it must continue to function despite uncertainty, disruption and tight budgets. Unfortunately, the freight market — worth roughly $800 billion annually to the U.S. economy — is still reliant on legacy systems and methods of operation. It’s like delivering your freight one package at a time.

But there’s good news. This disruption is accelerating the need for digitization.

For example, 75 percent of U.S. companies have had their supply chains disrupted, which has brought increased attention to the amount of information flowing through every step of supply chains, according to the Institute of Supply Management. To address this, many companies have accelerated the digitization of their customer and supply-chain interactions and their internal operations by three to four years, according to a recent article by McKinsey.

In 2021 and beyond, it will be impossible for transportation and logistics companies to compete if they’re still relying on a myriad of complex processes and legacy technology. Because technology is now embedded in the very fabric of the way that freight moves across oceans and land.

Due to this rapid acceleration, it can be challenging to prioritize investments and determine which solutions to use to track supply chain data while evaluating their current systems and processes.

Electronic bill of ladings to the rescue

For example, many industry-leading carriers have shifted to an electronic approach to bill of ladings (eBOLs) to reduce costs while increasing efficiency and accuracy. eBOLs have become an obvious choice for carriers also looking to prioritize critical safety within today’s work environment. DCSA, a nonprofit consortium of nine container lines working to develop interoperable standards, estimates that eBOLs could save the shipping industry a collective $4 billion in annual processing costs if they reach 50 percent adoption by shipment volume.

eBols could save the shipping industry $4 billion annually in processing costs.

This prognostication proved prescient when several leading organizations announced they would invest in this type of technology. In May 2020, J.B. Hunt Transport Services Inc. announced a new eBOL feature to allow businesses and carriers to digitally sign bill of ladings and reduce contact during the delivery process.

“The current environment is challenging every aspect of the supply chain, from securing capacity to completing deliveries,” said Shelley Simpson, executive vice president, chief commercial officer and president of highway services for J.B. Hunt. “This new electronic bill of lading feature offers simplicity, efficiency and most importantly, a safer option for drivers and front-line employees to sign load documents.”

Ready to learn more?

We are excited to host a virtual forum on Wednesday, July 14 at 1 p.m. EDT.

During this Hyland event, sponsored by the Council of Supply Chain Management, we will discuss how automating transportation and logistics can help your organization keep up with current rapidly changing industry demands. Keynote speaker Alan Pelz-Sharp from Deep Analysis will provide his industry perspective.

“There have been 20 years of tech advances in the supply chain, yet most firms continue to operate on narrow margins,” Pelz-Sharpe said. “IOT, AI and Blockchain still offer great promise, but until back office processes are addressed and improved, those operating margins will remain slim.”

Also on the agenda is top 50 global logistic provider 3PL Schneider, with Sarah Wilder, VP of supply chain solutions, set to present.

“Disruption and instability continue to plague the supply chain,” Wilder recently said. “It is imperative for shippers to incorporate digitization into their supply chain strategies to create competitive advantages. Beginning with a foundation to support robust data collection, applying advanced analytics to generate insights, driving automation for the most efficient operation and accelerating learnings through AI and RPA will allow shippers to get ahead and stay ahead.”

You’ll also discover specifics about how we can help support the specific needs of transportation and logistics organizations like yours.

“Hyland has made a commitment to developing and implementing transportation and logistics solutions for the last three years to some of the largest organizations in the world,” said Rob Scott, AVP at Hyland. “We have worked hard to collaborate on content for the forum that provides valuable insight from industry experts and stakeholders how automated solutions can elevate the accessibility, transparency and agility of your supply chains.”

We hope to see you at our transportation and logistics virtual forum on Wednesday, July 14 at 1 p.m. Don’t miss this opportunity to learn how you can create greater efficiencies by digitizing the supply chain.

Ready to drop the box of legacy systems? Register now!

Cara McFarlane

Cara McFarlane is Hyland’s sales enablement solution marketing manager. Her mission is to effectively position Hyland as the leading content services platform within financial services, insurance, government, higher education, and... read more about: Cara McFarlane

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