December 14th, 2016
Logistics Freight Marketplace

Technology-Enabled Logistics Marketplaces: The Trend that will Drive the Industry


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The movement of freight is an ongoing process that most businesses have to deal with on a daily basis in India. Right from small businesses to large corporations, logistics processes play a significant role in the overall efficiencies. The segment of logistics marketplaces is based off on the concept of collaborative structures that rely on matching availability with the requirement.

Process Management and Easier Acquisitions

One of the most significant traits of most tech-enabled marketplaces is how they source their data. While there have been a few startups that have focused on this segment, the commitment towards verified loads and carriers has been purely lacking. Logistics drives businesses across the nation, and it is no secret that if there are problems in logistics of a country, the whole chain can suffer. Thus, freight marketplaces sourced from verified Shippers and Carriers becomes the minimum necessity.

One thing to clarify here is that logistics marketplaces are different from load-boards. While marketplaces are completely tech-enabled entities that also have enhanced process management, load-boards are traditional craigslist/eBay of loads which are (mostly) relevant just for acquisition.

Marketplaces also help by aiding multiple aspects of the logistics processes via automation and implementation of technological improvements. A few traits brought along by such marketplaces are as follows:

  • Accessibility.
  • Healthy competition among collaborative members of the marketplace.
  • Quicker turnaround.
  • Rationalised rates.
  • Traction.
  • Simpler transit management.
Transit Processes

 

With more and more Carriers and logistics firms focussing on Just-In-Time inventory systems, they require streamlined systems for execution without hiccups. This ‘pull system’ for resource allocation has also made marketplaces much more relevant as compared to load-boards.

Logistics Marketplaces: Functionally Much More than Load-boards on Steroids

Simply put, load-boards are barebones implementation of an online system that facilitates the procurement and sale of freight and/or available trucks for booking. In this mechanism, there is simply no coverage for the process after the initial stage of hiring is handled. That’s more like Craigslist or eBay, most would argue, and they won’t be wrong either. However, logistics marketplaces have fast turned into comprehensive platforms which let businesses track the progress with enhanced visibility in real-time throughout the transit as well.

The Quikhop Effect

Let’s just get to what Quikhop is — a collaborative freight marketplace that includes a unique Transport Management System for unparalleled visibility. This freight marketplace was designed to bring multiple facets into one system that simplifies the complete transportation process. With a watchtower view of the process, the Quikhop marketplace does what it is supposed to do and then goes a step further.

We do have to note that Internet penetration is a big factor for such models seeing the light of the day. A traditionally document-intensive work like logistics has now started moving to online models which shall enhance the speed and simplicity of operations. Widespread adoption of mobile internet has helped in gaining traction as well. And as the transport management processes integrated into these logistics marketplaces improve further, they can prove to be one of the biggest stepping stones to advancement within the sector itself.

5 Responses to “Technology-Enabled Logistics Marketplaces: The Trend that will Drive the Industry”

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