12 Opportunities to Innovate the Freight Industry
In March 2018, over 280 leaders in the Australian Freight Industry gathered at the ALC Forum to discuss the industry’s future. The event could not have come at a more crucial time, as the Federal Government will release their National Freight and Supply Chain Strategy in November.
As technological leaders in transportation and logistics, we were honoured to sponsor a session on ‘planning freight-friendly cities’. As advocates of innovation, we are pleased to share with you the top 12 opportunities for the industry that attendees identified:
1. Developing Benchmarks and KPIs
We can only improve freight infrastructure by understanding where it can be improved. To this end, we advise feeding performance data from IoT-enabled freight equipment into a secure, accessible Cloud ERP Platform.
2. Establishing Accountable Planning Systems
As we plan the freight-friendly cities of the future, we must ensure our systems can account for increasing freight movement. By investing in predictive analytics, you can use current data to simulate future operations.
3. Adopting a National Corridor Protection Strategy
The future of freight depends on preserving critical infrastructure in the face of urban encroachment. To achieve this, Government and industry must coordinate through cloud platforms.
4. Collecting More Useful Data About Freight Movement
The more data we collect and analyse, the more insights we can use to optimise freight in future cities. This requires an effective Big Data solution that can accommodate new forms of freight.
5. Removing Regulatory Barriers to Data-Sharing
While we must maintain privacy, we can enhance our supply-chains by easily sharing real-time data among multiple parties. We can achieve this by establishing shared, secure Data Hubs.
6. Investing in Effective Infrastructure
To accommodate future freight, governments must invest in infrastructure which lasts beyond election cycles. To make the best use of their budget, they must invest in Predictive Modelling to anticipate future demands and invest accordingly.
7. Cooperating with Communities
To operate effectively, freight networks require social license. Before communities can grant this, they must understand what they’re agreeing to. To illustrate the benefits of efficient supply chains to communities, companies must invest in Data Visualisation.
8. Improving Safety
Last year, truck deaths in New South Wales tragically increased by 86%. These deaths were often attributed to poor driver and vehicle health. By monitoring conditions with IoT-enabled Vehicle Insights, you can prevent disaster with predictive downtime and maintenance.
9. Adapting to Expanding Freight Task
Thanks to growing demand, Australia’s freight task is expected to increase by 26% over the next decade. To meet this, you must invest in Inland Rail, short-haul rail, and the separation of freight and passenger rail.
10. Preparing Regulatory Frameworks for Future Technology
The future of freight lies in the adoption of Connected and Autonomous Vehicles (CAVs) and Artificial Intelligence (AI). To ensure a safe and sustainable evolution, governments must investigate these advances and regulate accordingly.
11. Enhancing Diversity in the Industry
It is undeniable that diversity enhances every organisation. By attracting future leaders from a variety of backgrounds, the national freight industry can access the ethical and financial benefits of a diverse workforce. Many at the event agreed this was a key factor of success in the evolving economy.
12. Increasing Cooperation Between Industry and Government
To establish freight-friendly cities of the future, governments must establish continuous consultation with industries through inter-organisational collaborative software.
Many thanks to Stephen Reid for hosting customer presentations, the Transportation Management demo, and for facilitating discussions during the Forum.
To know more, contact the author at: firstname.lastname@example.org