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AI: A Digitizing Engine for the Trucking Industry
From food supply to medicine and waste removal to manufacturing, about 70 percent of all freight moved is done by trucks in the U.S. If the truck stops, the majority of the industries will be affected within 24 hours. To transport their goods, almost every sector of the economy depends on trucks. It begins with the transport of raw materials such as wood and stone from forests and quarries to production centers.
Big data can help to make important decisions and ultimately make major changes. Analysis of the data and its effectiveness can lead to better decisions and strategic business movements.
From freight shipping to warehousing and inventory management to last mile delivery, companies in the logistics sector will now have to double their logistics infrastructure to meet the growing expectations of fast and efficient shipping and transport. In the trucking industry, big data comes in two separate forms, on and off the truck. The vehicle performance, driving behavior, and environmental information in the form of video, sensor, and telematics data are in real time on the truck. It is back office operational data from the truck, including information on the transport management system to insurance claims and maintenance records.
There are a number of places where data is generated—vehicles, trucking, maintenance systems, accounting, and human resources. Most areas of a company can contribute data points, and data can also be used in analytics from outside the company. Vehicle-generated data is increasing as more and more vehicle-centered data are generated by an increasing number of sensors added to trucks to support improved performance, safety, diagnosis, and maintenance.
Transport organizations rely heavily on their staff’s experience, agility, and abilities in dealing with complex issues. This is all at a cost, however, which is increasingly being examined by customers, regulators, and shareholders. If the digital maturity grows at the same rate as device penetration, the industry will keep pace. Supply chain leaders must move ahead of the device growth curve to avoid being left behind and immediately initiate these changes.
Ontrack is a young transport company that makes trucking simple and transparent and gives haulers and shippers the autonomy to meet the growing demand for road transport. Keeping an eye on the general economy and the trucking industry can help detect changes more quickly with the adoption of algorithms and AI technologies.
Check out: Top Supply Chain Companies.