When we say that we live in a hyper-interconnected era of globalization, digitalization, and large-scale industrialization, we know we certainly can claim this connectivity’s assurity and continuance.
Because whenever we wish, we buy things online and sleep in peace that the product or the solution we have bought will be delivered to our doorstep in such a short period – same day or in a day or two – that someone not from this era might wonder that the package would have travelled locally when in reality we know that it has crossed several continents.
The onlooker might also think that there is some magic at the centre of modern times’ seamless interconnectedness. Again, in reality, we know that there is no magic. Instead, the modern world’s most logical supply chain and logistics company – Xportus Freight India Private Limited – is revolutionizing the way goods are transported. “While empowering businesses with the best ocean, air, and ground freight services, we aim to inculcate transparency in all that we do,” says Ravit Singh, Founder and Director, who, after working with several companies, began Xportus to fulfil the needs of the industries with professional and prompt freight management solutions. He adds, “At Xportus, we make your supply chain highly visible and cost-optimized.”
Across Oceans, Inland, and Air – The Journey of Everywhere
Xportus is a freight aggregator company established in 2020 when the epidemic peaked. Ravit reflects, “Initially, we started as forwarding for the pharma-based company to export their goods in the international market.” In a short time, once they received a good response from the market, Ravit and his team started catering to the other industries exporting/importing in the international market. From a team of two people right now, they are a team of 50 core people who are together, and they cater to customers worldwide.
According to Ravit, Xportus’s USPs are Instant Freight Rates, 24*7*365 days Customer Service, Economic Freight Cost, and Live Tracking. “Also, we serve across the Major Trade Lane,” he says.
- India-USA Export Import Trade Lane
- India-Europe Export Import Trade Lane
- India-Middle East Export Import Trade Lane
- India-Far East Export Import Trade Lane
- India-China Export Import Trade Lane
Versatile Freight Management
As per Ravit, theirs is a tech-based freight facilitating company which offers other significant services, including Freight and Trade financing facility, Insurance, Trade advisory services, and customized and tailor-made logistics solutions. “Our core team is working on the other multiple solutions so we can easily develop future logistics solutions today,” says Ravit.
Making a Difference
Using immersive technologies can boost ranges from enriched customer experiences, S&OP meetings, and warehouse operations to logistics-supply chain automation.
Right from the customer side, there is huge potential to be exploited in providing facilitation in the International and the domestic logistics front to offer customized tailor-made logistics products, especially in industries with shorter product life cycles like fashion, retail, and the Agri sector.
Passionate Visionary Leader
Ravit started his journey by Handling Air cargoes in early 2007 with Jet Airways; then, he joined Maersk. Having decades of experience, he saw the drastic changes in the logistics industry. With Xportus, he has a clear mindset and a long-term road map with a mix of milestones to serve the customers and fulfil their escalating needs.
Leveraging the Technologies
Giving high importance to the technologies for their huge support and for strengthening the economy, Ravit says, “New technologies and technical advancements are constantly helping us progress with improved performance and convenience. The way we network and connect is also redesigned every day using modern technologies like Artificial Intelligence (AI), Machine Learning (ML), Big Data, and cloud systems.” While all industries greatly benefit from new-age technologies, the organizations that come under the logistics sector are greatly influenced by the invasion of AI and ML.
AI&M-Logistics
In the era of digital logistics, all structured/unstructured data collected from various sources are analyzed using AI and ML for meaningful insights and strategy planning. According to Ravit, both artificial intelligence and machine learning are crucial for the positives they bring to logistics and the supply chain.
AI is a game-changer in logistics operations as the technology comes with many benefits, including accuracy, cognitive automation, reduced costs, and less time consumption. The key role of AI is to automate mundane tasks and predict what’s coming. Moreover, route optimization and shipping costs are the other two valuable pros of using AI in logistics.
Ravit states, “AI is set to boost the productivity of logistics companies by more than 40% by 2035.”
Fast-developing logistics players smartly use AI to transform warehouse operations such as tracking, locating, and moving inventories. All this is possible because of the ability of AI to collect and analyze information and process inventory. Also, robots are already used to perform high-precision and quality warehouse jobs thanks to AI.
Next, the role of ML in logistics is to analyze huge amounts of diverse datasets to smartly plan demand and supply, customize, and optimize supply chains. Using Ml algorithms, logistics companies can determine the important factors that imply what’s better for the future and choose the risks in advance.
Below are some of the AI&ML practices that greatly support the smooth functioning of logistics.
~Remote Asset Tracking: A remote asset tracking system can improve the quality of supply chain management by letting you keep track of your goods and their storage time and optimize shipping costs. The benefits of using an asset tracking solution include increased profits, reduced waste, better protection of goods, and top-quality management. Searching for a product or equipment becomes very simple with asset tracking, and this is because of the use of historical data and analytics. Decision-making will also become easier for companies that use remote asset tracking.
~Enhanced Customer Experience: Logistics companies always try to please their customers in all possible ways, and it is healthy to do so for any business. Status updates, package tracking, and responsive chatbots are important factors that users need to satisfy customer experience. All these customer service features come into play with artificial intelligence’s power, elevating overall satisfaction.
Personalized product suggestion that happens as a result of analyzing customers’ search and shopping history is another way to bring more interest in customers. Every customer wants to be treated specially, and AI has paved the way for personalized service using stored data.
~Logistics Demand Prediction: It is now possible to predict the future demand for logistics services and products through machine learning. Algorithms that are fed with clean datasets can identify trends and patterns for forecasting the needs of customers and markets. The predictions are more or less accurate, helping companies make informed decisions and draw a successful plan.
By collecting comprehensive data and implementing AI with machine learning, organizations can better estimate capacity, identify shortages of goods, statuses of suppliers, and more. These useful predictions help greatly when companies start strategising their moves and how they look to grow.
~Warehouse-capacity Optimization: Warehouse management plays a key role in the logistics sector for a smooth supply chain process. Businesses welcome the latest technologies to keep track of what’s happening in a warehouse, from its capacity status to every other detail. Optimizing a warehouse has become easier with the help of installed sensors to provide up-to-date notifications about the capacity of warehouses.
The ease with which companies manage their warehouse capacity, whenever and wherever they want, greatly modifies the logistics business field. It is one of the many advantages of using AI with ML in logistics.
~Real-time Fleet Management: Regular real-time monitoring of trucks and driver behaviours can be useful for smart management and quick decision-making. Fleet tracking in the logistics industry lets businesses collect data easily about several small yet important factors like empty truck miles, transparency of truck locations, fuel costs, and more.”
Tackling Challenges with Initiative
Ravish is a very practical and logical professional who has comprehended the challenges and is working towards building a robust organization. He shares his observations: There’s no time to waste in freight forwarding’s critical role in the supply chain. Tackling your problems head-on is key to managing costs and increasing revenue in this increasingly competitive business.
Container Shortages
This phenomenon has several reasons, starting with a decrease in shipping vessels in 2020 in response to lowered demand.
Port congestion has compounded that problem, as evidenced by increased dwell and transit times. In other words, since containers take longer to make a single delivery, they can’t maintain the same velocity as before. It, coupled with strong consumer demand, makes for an extremely limited supply of shipping capacity.
The Solution: In the short term, Xportus employs several strategies to secure space despite the shortage. For one, less-than-container load (LCL) shipping can be cost-effective when your cargo cannot fill a whole container. Premium spaces are also available for shipments on a tight timeline but are often too costly for most freight forwarders.
Rising Consumer Expectations
The Solution: Implement a system to give your shippers access to real-time data. You can keep them from relying on emails and calls by providing them with a centralised hub. Not only will they feel more informed about their shipment status, but your team will also save time they would’ve spent providing unnecessary updates.
Changing Laws and Regulations
As a central player in the economy, the logistics industry is a popular topic of discussion for politicians and lawmakers. Policy changes can provoke immediate adjustments and responses from affected parties, sending ripple effects across the industry.
Frequently, these issues will compound, as we’ve seen with the intersection of events like the GST on Freight in India, the China-US trade war, the US-Europe Sanction, the Clean Shipping Act, and reactions to AB5.
The Solution: Pay close attention to political news stories, and make sure that any regulatory changes are incorporated into your standard processes and training materials. Additionally, remember to read up on logistics news, and encourage your team to do the same.
Increasing Competition
Many freight forwarders are accustomed to battling constant threats of competition, largely due to the industry’s low barriers to entry. On top of that, shippers typically see freight forwarding as a commodity, prioritizing speed and pricing over brand loyalty.
Shippers also increasingly prioritise customer experience and digital solutions in finding a partner. Ravit shares, “In fact, in a survey, we conducted with FreightWaves, 46% of shippers reported that they’d stopped working with one freight forwarder because another offered better technology.”
The Solution: Overcome the trap of commoditization by differentiating your business. Many digital-first freight forwarding companies have a good handle on the tech and operations side. However, they haven’t always developed the same connections and industry knowledge as traditional freight forwarding competitors.
Reputation and relationships alone are no longer enough to secure business in this industry. However, combining that with digital advantages like real-time tracking and data analysis, you can position your business to stand out from competitors on both sides.
Volatile Shipping Prices
Shipping prices have long been a hot topic in the industry, especially since their astronomical peak in the fall of 2021. Freight rates can be hard to predict due to the sheer volume of factors, from fuel prices and seasonal surcharges to labour costs and political crises.
The Solution: When combatting temporary price hikes, make an effort to negotiate better rates with carriers. Aside from leveraging connections, you can also try booking outside peak season or negotiating contracts with fewer PSS adjustments.
Unexpected Delays
The solution: Implement the technology you need to increase your shipments’ visibility. Pay attention to cargo in transit, and if you notice any extended delays, try to unblock them.
Miscommunication with Stakeholders
The solution: Ravit reveals that they help establish a central communication channel for your team, whether an in-house system, to erase the miscommunication issue. You can also reduce unnecessary phone calls by giving them 24/7 access to updated information on their shipments.”
The Logical Wisdom
Enriched with a diverse experience of working with several organizations and having created a dynamic freight management organization, Ravit advises young professionals to learn and identify the crucial aspects of work. ‘Understand the client expectations through the nature of their business, delivery destinations, and the transportation structure. Work with honesty and communicate with the client regularly. Optimize the resources and build a good network. Keep researching and exploring new territories for the prevailing economic, geographic and political conditions. Your readiness and efficient service will be the key to success.’
Envisaging a Well-Integrated Future
Ravit has chalked out the plan for Xportus, which is based on the foundation of dedicated customer service and freight optimization. His vision is to make his firm a strong and recognized brand domestically and globally.
He ensures that the local markets are well-managed and handled professionally during the expansion process. Ravit is building his team for a bigger picture by training them in communication and adapting to modern technologies.
Under Ravit’s exemplary leadership, Xportus looks forward to collaborating with several organizations in different countries wherein the clients can be offered reliable services.
