While taking the turns toward uncertain roads in 2022, there is a greater risk in conventional practices. The maritime supply chain management processes must be digitally transformed to optimize their business performance. Global competition in the maritime industry brings the complexity of high financial risks. However, modern businesses are taking a shift towards digitalized processes to reduce these risks strategically. The effects of such practices create better supply chain prospects & hence, bring skyrocketing revenue.
New technologies like Business Intelligence (BI) solutions approach the situation with valuable insights. Giant Leap System’s integrative solutions create your competitor’s trade reports from global trade statistics. These reports open the doors to endless possibilities. Like,
Profitable supply chain alternatives
Potential customers
Generates new market opportunities
The main purpose is to explore & direct the best network of goods & services internationally. It is to match the sudden increases in the demand quickly without much hassle. Therefore, it is the right time to capitalize on solutions that saves both time & money largely.
Table Of Contents
What Is Maritime Supply Chain Management In The Shipping Industry?
Maritime Supply Chain Management (SCM) is the global process of administering the supply chain operations effectively & efficiently. It involves fostering a relationship with maritime supply chain partners, handling shipping & transportation. The main function is to create & direct the best network for the international movement of cargo. The process aims to generate maximum profits, reduce risks, & aim for timely delivery. It is an end-to-end fulfillment process until the final delivery destination. This demands effective coordination & the assistance of trade insights to lead these activities duly.
The 6 Biggest Challenges Of Maritime Supply Chain Management
Maritime Supply Chain Management faces many big challenges pertaining to industrial activities. The objective is to create a smarter ecosystem of the cargo movement with clear digital strategies. Therefore, read ahead to know about the biggest challenges of the maritime supply chain management -
1. Changing Customer Expectations
Modern consumer expectations are ever-changing. In order to create such positive experiences, you must address the concerns related to supply chain disruptions & analyzing the big data. Even the unprofitable trade networks that are causing you all-time fewer profits. Strategically, the Business Intelligence (BI) driven trade reports channel your focus towards valuable insights from the data.
These competitor’s trade reports open the possibilities for profitable trade networks via handling amplified demand duly. It’s important that cargo meets quality standards demanded by consumers even via shpp[ing them. It’s a prerequisite that your business meets the customer/industry expectations of everyone.
2. Intense Industrial Competition
With intense competition in the maritime industry, you must incline toward automotive processes to stay in the ring. Handling customer demands & maintaining profits can become a challenge for your business. However, companies are taking leverage of integrative software solutions & mainly, the big data.
This shipment data can be analyzed to seek opportunities in improving your current systems. Like, trade networks, shipment tracking, and overall costs to break down your business challenges. These insights & software solutions help formulate further strategies to create an end-to-end management system. It efficiently utilizes the data to improve its quality & pace.
3. Rising Transportation Costs
Small shippers are most likely to struggle with rising transportation costs & customer demands. Mid-size shippers also tend to struggle with similar challenges. They are hesitant or anxious to explore their technological boundaries. Large-cap shippers, too struggling with the rising costs understand the relevance of capitalizing on the latest technology. They are aware of the sky-rocketing return on investment for keeping the costs low & profit margins high.
The analytical reports prepared for the clear in-depth insights add value to the current operational method. The much-needed integration with the latest software solutions powers the existing systems. It helps keep up with unexpected time disruptions with minimum investment.
4. Lack Of Digital Transformation
With fast-changing markets, changing is the market needs. From enhancing customer experience, avoiding disruptions in the processes to adapting to new technological changes. This must be your exemplary move to run your business smoothly. A lack of digital solutions can cost you your profits & it will become difficult to stay competitive in the industry. Constantly working with Business Intelligence (BI) based trade reports helps identify potential changes to your current business patterns. It helps recognize your business's ability to convert more potential customers.
With efficient data insights, you can divert your network routes towards more profit margins. In addition, software solutions like container tracking software, and automated manifest systems help streamline your workflows & profits.
5. Unprofitable Trade Network
Along with managing client expectations, another aspect is diverting towards profitable trade networks. But here's the thing, finding the best routes for maritime supply chains help save a lot of time & generates 2x profit margins. You can get such valuable insights via trade reports of your competitors. These reports are meticulously prepared from global statistics data. As they propose an integrative solution for exploring new markets, profitable suppliers partners, trade networks, & convertible clients.
This is a direct roadmap toward digitalization that automates your processes & helps respond to a sudden surge in demand. The maritime industry can take unprecedented turns at any time. Your business must be prepared beforehand to tackle any such instances in the future.
6. Lack Of Real-Time Visibility
One of the major challenges companies face is maintaining a lack of real-time visibility with clients. Modern-day clients demand transparency in the shipping processes. Here, when comes the container tracking software. The best software helps track the delivery status & customs clearance position via it. This renders real-time visibility to your clients. The main purpose of this software solution is to avoid any delays & disruptions by the customs department.
Failing to incorporate a similar system can lead to huge financial losses. However, if the stakeholders are informed in real-time through follow-ups without any delay. You can take the prerequisites steps to prevent it. If not, this can lead to unavoidable potential disruptions.
GLS’s Contributions To Take Your Business To Next Level
Giant Leap System is your end-to-end solution to encounter the above-mentioned supply chain management challenges. It’s a customized software solution that excels in rendering top-notch services to maritime industry businesses. Especially, the freight forwarders, shipping companies, & custom house brokers. In addition, it helps solve the most complex business demands. With 12+ long years of experience, GLS very well understands your business requirements. We know the roadmap to take your business to next level.
As a business owner, it is your responsibility to streamline reliable profitable services. When quality standards & surpassing customer expectations become a critical point for your business. GLS helps you get access to modern-day supply chain management solutions.
Therefore, the following are the GLS software solution features that will help gain control & streamline your business processes -
Customer-oriented processes to improve customer experience
Real-time visibility & customs follow-ups to maintain transparency
Business-Intelligence (BI) based trade reports for valuable insights
Access to a potential customer base, profitable supply chain routes
Single-system documentation to submit the cargo information only once for all the systems
Robust APIs to establish communication with the involved stakeholders
Helps save a lot of resources by cutting operational costs by 40%
Increases your business profits by streamlining all your business processes
FAQs
1. What are the global supply chain management challenges?
The following are the global supply chain management challenges in the industry -
Managing consumer expectations
Rising freight prices
Lack of digitalization
Shorter lead time
Ineffective risk management
Unprofitable supply chains
2. What are the goals of supply chain management?
Given below are the prime goals of an effective supply chain management -
Attaining efficiency
Building resilient networks
Profitable trade networks
Reducing freight costs
Improving quality
3. What is the importance of supply chain management?
Smart supply chain management allows businesses to increase cash flow via creating profitable trade networks. It aims at improving customer experience & reducing supply chain associated costs. Since it is an indispensable part of business success. This helps businesses to stay agile, responsive, & profitable. This leads to stabilizing relationships with the stakeholders, thereby, leading to customer satisfaction.
Takeaway
The challenges of maritime supply chain management may vary in complexity from one business to another. Shifting to advance technology shall stabilize the core foundation of your business by relying on reliable supply chains. This is done to improve customer experience, increase profits, reduce costs and time, & improve inventory management duly. And this can be only achieved through unique process management. A centralized system that imparts the valuable insights to manage your delays & handle your supply chain effectively.