DHL and Cisco have released a new report outlining the impact the Internet of Things will have on business, particularly as it relates to logistics and warehousing.
The report estimates that there will be 50 billion devices connected to the Internet by 2020, compared to 15 billion today.
Cisco projects that around a quarter of the predicted $8 trillion in value created by the Internet of Things will be directly attributable to supply chain and logistics, which the report identifies as one of five main drivers. The other center around improvements in innovation, asset utilization, employee productivity and enhanced customer experience.
“Over the next decade, the logistics industry could unlock higher levels of operational efficiency as the [Internet of Things] connects in real-time millions of shipments being moved, tracked and stowed each day,” DHL said. “In warehousing, connected pallets and items will be a driver for smarter inventory management. In freight transportation, tracking and tracing of goods becomes faster, more accurate, predictive and secure while analytics of a connected fleet can help to predict asset failure and to schedule maintenance checks automatically.”
The cloud-based freight rate management solution provider CargoSphere said this week that Livingston International will use its Rate Mesh tool to support expansion of its global freight forwarding and non-vessel operating common carrier business areas.
Livingston has grown substantially in recent years through acquisition of five logistics service provider companies. The logistics company will centralize its quoting and request for quotes process with CargoSphere, and also includes self-publishing of Federal Maritime Commission tariffs.
The Rate Mesh tool eliminates static files and email rate-sharing for CargoSphere’s cloud-based rate-sharing network. Livingston receives confidential freight rate contracts from neutral NVOs, agent partners, and associations directly into their internal pricing system.
“Standardizing and consolidating rate management with CargoSphere delivers competitive advantages and resources to help us achieve our objectives,” said Christopher Logan, president of Livingston U.S.A., in a statement.
The logistics-oriented customer relationship management software provider Lanetix said this week is has secured $5 million in venture capital to drive growth.
The company said it will use the investment to hire additional software engineers and accelerate development of its freight brokerage and data analytics solutions due this summer.