The shipping industry is part of a broader freight forwarding industry, and this supply chain industry is transforming. Startups are putting great pressure on established corporates, both in terms of processes - modernizing and digitalizing processes - and also developing new business models. This is happening due to changes and developments in the technological environment and the huge opportunities that Big Data Analytics offers to corporates and startups. Big Data means transparency for the customers and also transparency concerning the transport capacities underlying those supply chains. The Sharing Economy has entered all modes of transport. However, transparency is also the biggest threat for most established corporates.
There is a need to improve quality and visibility in the ocean supply chain. New technologies that could help improvement are: D&A, Automation, IoT, Blockchain, Management Solutions and Cloud Solutions. While these new technologies hold great potential for the shipping industry, they also mean big challenges for most participants. Those who can recognize and leverage the potential have a good chance of emerging from digitalization as winners. A decisive factor in this may be the successful cooperation of startups and corporates.
The shipping industry is facing up to the new digital world. Digitalization goes hand in hand with innovation. Is the industry really ready for it? Can a shift put an end to the crisis? What is key for a successful shipping operator in the future?
These and other questions were discussed by the attendees of the Global Shipping Conference 2017. We have summarized the key facts of this exciting interesting panel discussion in the video below.