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article imageTransworld announces digital transformation shipping project

By Tim Sandle     May 21, 2018 in Business
The Transworld Group of companies has announced its latest progress in relation to its digital transformation of its shipping activities. The group will leverage technology enabled solutions and customer connect e-platforms.
The Transworld Group of companies consists of Avana Logistek Ltd, Shreyas Shipping & Logistics Ltd, Transworld Feeders FZCO, BSL Freight Solutions Pvt Ltd, Transworld Logistics FZE and other companies. The group has long realized the importance of the digital transformation of shipping. While many players have struggled to find clarity on how best to deploy the power of digital technology, Transworld have been relatively advanced. The company is now starting to realize the next stage of its vision.
Facing up to the economic challenges that shipping faces
According to a survey conducted by PwC, digital transformation of shipping is seen by many companies as the solution to the economic challenges that the sector faces, such as fleet utilization. While many initiatives are underway, the survey reveals that for many the ultimate goal is crewless shipping: the idea of ships controlled from land.
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Shipping companies that have digitalized have embarked on projects like box tracking, empty-container repositioning, document management, network design, and pricing. This is in response to a competitive market place, which, like other sectors, includes a threat from e-commerce giant Amazon. According to BCG, Amazon has obtained a license to operate as an assetless cargo forwarder between China and the U.S.
The need to leverage technology enabled solutions
This makes Transworld's focus very timely. As reported by Business World, the company aims to leverage technology enabled solutions together with customer connect e-platforms, in order to provide real-time information, a rapid business process and an enhanced digital customer interface. Also on the radar are emerging technologies such as blockchain, adaptive intelligence and the Internet of Things.
Transparency, speed and agility
To help foster this vision, Transworld Group has signed an agreement with Oracle India and KPIT to help with the development an integrated technology platform. The declared aim is greater transparency, speed and agility across the supply chain, which ae strong features of blockchain. To make this work, dozens of shipping lines will need to develop a common protocol that can integrate all the systems into one vast platform.
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In relation shipping news, Digital Journal has reported that Microsoft Research Asia (MSRA) and Hong Kong-based Orient Overseas Container Line (OOCL) are to work together. See: "Microsoft-OOCL partnership on digital transformation of shipping."
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