THE GOLDEN DAYS OF THE MARITIME ECOSYSTEM: HOW TO ACCELERATE INNOVATION IN THE TRADING & LOGISTICS INDUSTRY

The maritime environment is in its prime right now. Consider that for a moment. Ten years ago, we were unable to even determine the location of a ship in open water. A true maritime technology sector is already starting to emerge.

Productivity is one of the main problems facing any industry today: how to give customers tangible value or complete a workflow using data and AI. It always seems like there is more innovation and value to offer customers in the shipping industry because there are so many trades.

Additionally, a lot of merchants, shipping firms, and really any business with room to grow enjoy creating their own IT infrastructure. Each business has its own proprietary expertise and know-how that it doesn't wish to divulge to competitors. Additionally, businesses are demonstrating to others the genuine benefits of digitization. We think this is inspiring traditional shippers, freight forwarders, and other stakeholders to think more quickly and further. Thetius's research indicates that, however, digitization in transportation is still in its infancy.

If we were to look back and examine this evolution in the container shipping industry, we would notice that numerous platforms and applications from booking platforms to visibility platforms and marketplaces are being developed.?

Here are a few things to think about when developing an internal or external solution.

• User Persona: Who is the user persona for whom the solution is being built?
• Pain: What are the primary pain points and value propositions?
• Workflow: What are the main processes you must support?
• Insights: What information streams and insights are necessary to increase the user's value? How might these insights specifically be included in the workflow?
• Focus: What do we need to develop independently vs. in collaboration with others?

Due to the situation in the capital markets, many CEOs and businesses have been reconsidering their goals, operating strategies, and budgets. If a startup received funding in Round A or B, it faces a significant funding gap. Businesses who are developing internal apps need to be considerably more focused and finish their research on creating versus partnering versus buying.

Perhaps speeding up innovation here would benefit from using the same strategy. Could we build on others' innovations, leverage insight as a service, and concentrate our efforts on our must-haves instead of rewriting all insights from scratch? Narrowing our focus and improving our quality appear to be necessary given everything going on in the stock market. Collaboration and attention are vital, complementary skills; they are not mutually exclusive.

Contributing to the growing market freight and shipping industry, PT. Sree Logistics Indonesia is here to provide the best logistic solution with delivery of a timely service with suitable customization according to the clients' requirements and also offers optimized logistic services, especially for sea transport and containerized shipments.

To provide a seamless logistics experience, PT. Sree Logistics Indonesia works with various shipping lines to provide the best logistic solutions and has been transporting a wide range of commodities including FMCG, Furniture, Chemicals, DG cargo and non-DG, Industrial Raw Materials, Textiles, Yarn, and many more.

Source:

Ami Daniel. July 18, 2022. Standing On The Shoulders Of Giants: How To Accelerate Innovation In The Trading And Logistics Industries. Retrieved From https://www.forbes.com/sites/forbestechcouncil/2022/07/18/standing-on-the-shoulders-of-giants-how-to-accelerate-innovation-in-the-trading-and-logistics-industries/?sh=3837e9846283?