Updated on July 13, 2023
The ocean freight industry is one of the most important segments of international trade. The shipping industry has changed significantly in the past few decades. It used to be a highly fragmented and localized industry, but now it has become more centralized, with large carriers dominating the market.
The shift from traditional methods to digitalization has been happening for the last few years and will continue to develop at an accelerated pace in coming years. Freight Tech APIs are playing a central role in this transformation because they allow companies to seamlessly connect with partners and customers through a secure channel.
As a global supply chain management system, transport is becoming increasingly complex and interconnected. With the rise of digitalization and the growing number of e-commerce transactions, many companies are now turning their attention to emerging technologies that can optimize their operations and improve their performance.
At the forefront of this revolution is API freight technology, which is already transforming the way ocean freight companies operate.
APIs (application programming interfaces) are the new tool that is transforming ocean freight technology. As the demand for more digitally-driven supply chains grows, companies are looking at ways to improve their businesses through better connectivity and data analysis.
API logistics are a core element of today’s digital transformation because they provide a way for organizations to connect with their customers, partners and suppliers. By connecting their own applications with those of other companies, they can create new business opportunities and improve customer experience.
The most common uses of APIs include:
The ocean freight industry is booming, and with that comes a demand for technology providers and digital first industry stakeholders. They offer solutions that are tailored to the ocean freight industry's specific needs. Their aim is to boost the growth of its players' businesses by increasing agility, improving efficiency, and capturing unexpected opportunities.
The introduction of APIs has not only allowed for more transparency in terms of tracking progress but also helps eliminate potential errors. For example, if a shipment is delayed or held up at customs, it is much easier for shippers to see where their goods are at any given moment without having to wait for updates from multiple parties or sources.
The use of APIs across the ocean container tracking network has enabled real-time tracking to reduce confusion and the costs of integration between traditionally siloed systems. A unified data stream increases visibility across all shipment stages for shippers and beneficial cargo owners (BCOs). In addition, it is important to understand what happens before and during the shipment's transit on ocean liners.
Additionally, this new technology allows for better communication between all parties involved in a shipment’s journey. This can translate into quicker responses when there are
problems along the way as well as improved collaboration between those involved with planning shipments in advance (e.g., manufacturers).
The shipping industry has seen a lot of change in the past few years, and new technologies have been a big part of that. AI is revolutionizing the shipping industry by enabling predictive and prescriptive analytics to solve problems faced by players in the sector.
Through APIs, industry giants have accelerated their digital transformation, catching up with competitors relying on EDIs, paperwork, and disparate tools to exchange information. New information technologies enable the most innovative shipping companies to work more efficiently and productively.
In today's day and age, APIs are a necessity for any company. The freight industry is no exception. Data silos are common in supply chains because many players are involved. The majority of the time, sharing this data is not easy, which results in delays and inefficiencies. It also impacts shippers’ ability to make educated decisions related to the whereabouts and status of their freight at any given time.
Using APIs can help companies overcome some of these challenges, streamline day-to-day operations, and enhance relationships with customers and partners.
Process Automation: APIs are an essential part of the modern workflow, and they save you time by automating processes that used to require manual intervention.
With the help of an API, you can easily access data from third-party services without having to develop your own solution. APIs offer a convenient way of accessing data from multiple sources. They are a good solution for both small businesses and large organizations as they provide an easy way to connect one system with another.
Real Time Data: We live in a world where real-time data is accessible, and it's changing the way we do business.
As a result, it's easier than ever before to provide accurate shipping quotes, view equipment capacity and book freight. It's also possible to track shipments at any point along their journey and address any issues that arise.
Cloud Based Integration: Companies use APIs to connect their “on-premises” custom solutions with cloud applications, making the transition to the cloud seamless.
Better Decision Making: APIs have been around for a while, but they are becoming more and more important as the digital world continues to grow at an exponential rate. APIs provide easier access to more data, which leads to better decision making and more knowledge to understand customers’ needs. It also allows you to spend less time pushing paper and more time communicating, building relationships, and improving processes.
Ocean freight visibility is a critical component to shippers’ supply chain safety and security. It plays a growing part in the overall risk picture, and yet we tend to think of it as an afterthought. We need to be proactive with our API systems, create layers of protection through end-to-end tracing, and amplify our capabilities through real-time data access. Fortunately, those are some areas where FreightMango can help your supply chain shine.