Revolutionizing Supply Chains: The Impact of Real-Time Ocean Container Tracking

Revolutionizing Supply Chains: The Impact of Real-Time Ocean Container Tracking

The reason why real-time ocean container tracking is so important to global logistics is simple. An estimated 80% of all goods shipped worldwide are carried by sea, so it makes sense to keep a close eye on containers transported by ocean.

With demand and disruption increasing across global supply chains, shippers, consumers, and regulators are all asking the same question. Can we have a more holistic view of what's happening with container shipments transported by sea?

The answer has been a resounding "yes." Ocean container tracking technology is proving to be a key driving force behind greater supply chain visibility. Across the seven seas, real-time ocean container tracking is giving shippers, consumers, and regulators exactly what they've asked for — shipment transparency from port to port.

A 2024 survey published by HERE Technologies & AWS shows that when respondents were asked about the features and functions that are most valuable for ocean container and supply chain visibility, 63% said real-time tracking technology offers the greatest value.

Enhancing Supply Chain Visibility

Total supply chain visibility represents the promised land for the shipping industry. It's the Holy Grail that anyone and everyone in maritime is hotly pursuing. Real-time tracking has helped to accelerate supply chain visibility (aka end-to-end visibility) and bring it to within touching distance.

No longer are the whereabouts of containers shipped by sea shrouded in mystery, uncertainty, guesswork, and sheer hope that they will arrive at their destination.

Real-time ocean container tracking technology puts the power directly in the hands of businesses, providing near-instant access to container locations and statuses.

This means shippers can now be more proactive in their decision-making and deliver quality customer service like never before.

Real-time Data Access

Arguably, the greatest gift that real-time ocean container tracking gives is highly accurate data, and lots of it, meaning companies can better optimize their inventory management, identify the best transportation routes, minimize delays, and make supply chains far more efficient.

Logistical planning is made easier and customer service is greatly improved when businesses have almost instant access to the whereabouts of shipping containers with pinpoint accuracy.

Impact on Global Trade

It's not just individual businesses that benefit from real-time ocean container tracking. It positively affects the way the entire international trading community operates, paving the way for smoother supply chain management.

Real-time tracking not only helps to synchronize supply chain operations worldwide, it spurs economic growth, encourages international investments, and strengthens trade partnerships.

Practically, real-time container tracking improves the reliability and credibility of ocean shipping, while contributing to cost savings for consumers and businesses alike and driving global market competitiveness.

At a time when supply chains are under pressure, real-time ocean container tracking is helping to steady the ship by enhancing trade resilience and improving customer satisfaction.

Traditional logistics didn't offer supply chain transparency, leaving shippers to rely on logistics companies for updates about shipments. Real-time ocean tracking systems provide information about estimated arrival times, which means shippers can schedule container pick ups for the next leg of a journey.

This has had a huge impact on speeding up delivery times worldwide, making for a better customer experience and reducing the number of customer inquiries shippers have to deal with.

While real-time tracking has had a positive impact on global trade, it's fair to say that international trade has had an impact on real-time tracking innovation. The challenges faced by shippers during, and in the immediate aftermath, of COVID, have served to accelerate the emergence of ocean container tracking systems.

In 2022, the global container tracking market size stood at $10,075.00 million but is expected to more than double by 2032, hitting $21,627.26 million.

With global trade increasing, the need for container tracking has never been greater. And with a surge in the development of customized ocean container tracking solutions for industry-specific needs, there are significant opportunities for new technologies to have an even greater impact on global trade in the years to come.

Cost Reduction and Efficiency Improvement

Every minute and every dollar counts in global logistics. You only have to look at the supply chain disruptions caused by geopolitical tensions and ongoing trade wars to realize that time is money.

For example, the ongoing US-China trade war has had a detrimental impact on global shipping prices, driving up costs because of tariffs and trade restrictions, freight rate volatility, supply chain disruption, increased regulatory compliance costs, and forcing businesses to have to use longer transit routes.

Thankfully, real-time ocean container tracking provides a new level of foresight that helps shippers respond proactively to such cost-sapping disruptions.

With updates on container location, status, and cargo condition, tracking technologies empower shippers to navigate the seas with precision while cutting costs.

Another key benefit of real-time ocean container tracking is optimized inventory management, which helps to cut costs. By providing accurate, up-to-date information on the status of their inventory in transit, companies can optimize inventory levels, reduce stockouts, and improve order fulfillment rates.

Decreased Demurrage and Detention Charges

During the COVID-19 pandemic, demurrage and detention charges soared. And even though they have dropped after reaching record highs, these notorious surcharges are still a headache for shipping lines.

Real-time ocean container tracking gives companies the power to rein in demurrage and detention costs by helping to optimize port operations and reduce container dwell times. By streamlining the flow of goods through ports and terminals, businesses benefit from significant cost savings and faster cargo turnaround times.

Optimizing Shipping Routes

Ocean container tracking technology gives companies access to real-time data on vessel movements, weather conditions, and port congestion. This means businesses can optimize shipping routes, reduce fuel consumption, shorten transit times, and reduce operational costs.

By avoiding congested shipping routes, businesses can achieve substantial savings on fuel costs. Plus, real-time tracking helps companies reduce delays, which can have the knock-on effect of increasing costs.

Risk Mitigation in Maritime Logistics

The benefits of real-time ocean container tracking go beyond greater supply chain visibility and cost reduction. It also plays a role in risk mitigation. Businesses are equipped to proactively mitigate risks associated with cargo loss, theft, or damage.

By continuously monitoring container movements and conditions, companies can identify potential security threats or logistical disruptions and take preventative steps to safeguard their assets and minimize financial losses.

Enhanced Response to Disruptions

Supply chain disruptions are inevitable, but real-time ocean container tracking helps minimize the impact of unforeseen events. By monitoring vessel positions and anticipating potential delays, companies can take proactive measures to minimize delays.

Whether rerouting shipments to alternate ports or reallocating resources to expedite deliveries, real-time tracking paves the way for agile decision-making and maintains supply chain resilience in the face of ongoing challenges.

Improved Security and Compliance

Real-time tracking technology is helping to set new standards in security and compliance across the maritime industry. With continuous visibility over container movements now readily available, tracking technologies can monitor cargo integrity and help companies adhere to security protocols.

This not only deters illegal activities like smuggling and container tampering but also helps businesses to comply with international regulations that govern cargo handling and transportation.

Global supply chains are now increasingly interconnected, which means that the ability to track and secure shipments in real time serves as a powerful safeguard against emerging security threats and blindspots across the logistics industry.

Actionable Strategies for Implementing Real-Time Tracking

According to Procurement Tactics, global supply chain visibility has experienced 22.4% growth in recent years. This coincides with 63% of organizations implementing technological solutions to monitor and assess the efficiency of their supply chains, according to PWC.

It's clear that companies are increasingly turning to technology to build the supply chains of the future, and real-time ocean container tracking is playing its part in strengthening logistics operations.

As more businesses rely on technology for real-time ocean container tracking, having an actionable strategy for successful implementation will be key. Here's what that looks like:

  • Evaluate and choose the right tracking technology and platform that aligns with your business objectives and integrates seamlessly with existing systems.

  • Invest in comprehensive staff training to ensure that employees understand the importance of data-driven decision-making enabled by real-time insights.

  • Form strategic partnerships with technology providers to access continuous support, updates, and innovative solutions tailored to your changing needs.

  • Use data analytics tools to harness the huge amount of information collected through tracking systems, enabling deeper insights and informed decision-making.

  • Create a culture of continuous improvement by regularly reviewing and optimizing the tracking setup to adapt to new challenges and opportunities in the logistics environment.

Ship With Certainty With Vizion

With Vizion, you can maintain total ocean container visibility and comply with shipping regulations worldwide. Our platform pushes the most complete, standardized, and detailed container tracking events to any spreadsheet, ERP, TMS, or other software system in accordance with maritime industry standards.

Book a demo with VIZION today and see the difference that real-time ocean container tracking will make to your supply chain.

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Revolutionizing Supply Chains: The Impact of Real-Time Ocean Container Tracking

May 28, 2024
Real-Time Ocean Container Tracking

The reason why real-time ocean container tracking is so important to global logistics is simple. An estimated 80% of all goods shipped worldwide are carried by sea, so it makes sense to keep a close eye on containers transported by ocean.

With demand and disruption increasing across global supply chains, shippers, consumers, and regulators are all asking the same question. Can we have a more holistic view of what's happening with container shipments transported by sea?

The answer has been a resounding "yes." Ocean container tracking technology is proving to be a key driving force behind greater supply chain visibility. Across the seven seas, real-time ocean container tracking is giving shippers, consumers, and regulators exactly what they've asked for — shipment transparency from port to port.

A 2024 survey published by HERE Technologies & AWS shows that when respondents were asked about the features and functions that are most valuable for ocean container and supply chain visibility, 63% said real-time tracking technology offers the greatest value.

Enhancing Supply Chain Visibility

Total supply chain visibility represents the promised land for the shipping industry. It's the Holy Grail that anyone and everyone in maritime is hotly pursuing. Real-time tracking has helped to accelerate supply chain visibility (aka end-to-end visibility) and bring it to within touching distance.

No longer are the whereabouts of containers shipped by sea shrouded in mystery, uncertainty, guesswork, and sheer hope that they will arrive at their destination.

Real-time ocean container tracking technology puts the power directly in the hands of businesses, providing near-instant access to container locations and statuses.

This means shippers can now be more proactive in their decision-making and deliver quality customer service like never before.

Real-time Data Access

Arguably, the greatest gift that real-time ocean container tracking gives is highly accurate data, and lots of it, meaning companies can better optimize their inventory management, identify the best transportation routes, minimize delays, and make supply chains far more efficient.

Logistical planning is made easier and customer service is greatly improved when businesses have almost instant access to the whereabouts of shipping containers with pinpoint accuracy.

Impact on Global Trade

It's not just individual businesses that benefit from real-time ocean container tracking. It positively affects the way the entire international trading community operates, paving the way for smoother supply chain management.

Real-time tracking not only helps to synchronize supply chain operations worldwide, it spurs economic growth, encourages international investments, and strengthens trade partnerships.

Practically, real-time container tracking improves the reliability and credibility of ocean shipping, while contributing to cost savings for consumers and businesses alike and driving global market competitiveness.

At a time when supply chains are under pressure, real-time ocean container tracking is helping to steady the ship by enhancing trade resilience and improving customer satisfaction.

Traditional logistics didn't offer supply chain transparency, leaving shippers to rely on logistics companies for updates about shipments. Real-time ocean tracking systems provide information about estimated arrival times, which means shippers can schedule container pick ups for the next leg of a journey.

This has had a huge impact on speeding up delivery times worldwide, making for a better customer experience and reducing the number of customer inquiries shippers have to deal with.

While real-time tracking has had a positive impact on global trade, it's fair to say that international trade has had an impact on real-time tracking innovation. The challenges faced by shippers during, and in the immediate aftermath, of COVID, have served to accelerate the emergence of ocean container tracking systems.

In 2022, the global container tracking market size stood at $10,075.00 million but is expected to more than double by 2032, hitting $21,627.26 million.

With global trade increasing, the need for container tracking has never been greater. And with a surge in the development of customized ocean container tracking solutions for industry-specific needs, there are significant opportunities for new technologies to have an even greater impact on global trade in the years to come.

Cost Reduction and Efficiency Improvement

Every minute and every dollar counts in global logistics. You only have to look at the supply chain disruptions caused by geopolitical tensions and ongoing trade wars to realize that time is money.

For example, the ongoing US-China trade war has had a detrimental impact on global shipping prices, driving up costs because of tariffs and trade restrictions, freight rate volatility, supply chain disruption, increased regulatory compliance costs, and forcing businesses to have to use longer transit routes.

Thankfully, real-time ocean container tracking provides a new level of foresight that helps shippers respond proactively to such cost-sapping disruptions.

With updates on container location, status, and cargo condition, tracking technologies empower shippers to navigate the seas with precision while cutting costs.

Another key benefit of real-time ocean container tracking is optimized inventory management, which helps to cut costs. By providing accurate, up-to-date information on the status of their inventory in transit, companies can optimize inventory levels, reduce stockouts, and improve order fulfillment rates.

Decreased Demurrage and Detention Charges

During the COVID-19 pandemic, demurrage and detention charges soared. And even though they have dropped after reaching record highs, these notorious surcharges are still a headache for shipping lines.

Real-time ocean container tracking gives companies the power to rein in demurrage and detention costs by helping to optimize port operations and reduce container dwell times. By streamlining the flow of goods through ports and terminals, businesses benefit from significant cost savings and faster cargo turnaround times.

Optimizing Shipping Routes

Ocean container tracking technology gives companies access to real-time data on vessel movements, weather conditions, and port congestion. This means businesses can optimize shipping routes, reduce fuel consumption, shorten transit times, and reduce operational costs.

By avoiding congested shipping routes, businesses can achieve substantial savings on fuel costs. Plus, real-time tracking helps companies reduce delays, which can have the knock-on effect of increasing costs.

Risk Mitigation in Maritime Logistics

The benefits of real-time ocean container tracking go beyond greater supply chain visibility and cost reduction. It also plays a role in risk mitigation. Businesses are equipped to proactively mitigate risks associated with cargo loss, theft, or damage.

By continuously monitoring container movements and conditions, companies can identify potential security threats or logistical disruptions and take preventative steps to safeguard their assets and minimize financial losses.

Enhanced Response to Disruptions

Supply chain disruptions are inevitable, but real-time ocean container tracking helps minimize the impact of unforeseen events. By monitoring vessel positions and anticipating potential delays, companies can take proactive measures to minimize delays.

Whether rerouting shipments to alternate ports or reallocating resources to expedite deliveries, real-time tracking paves the way for agile decision-making and maintains supply chain resilience in the face of ongoing challenges.

Improved Security and Compliance

Real-time tracking technology is helping to set new standards in security and compliance across the maritime industry. With continuous visibility over container movements now readily available, tracking technologies can monitor cargo integrity and help companies adhere to security protocols.

This not only deters illegal activities like smuggling and container tampering but also helps businesses to comply with international regulations that govern cargo handling and transportation.

Global supply chains are now increasingly interconnected, which means that the ability to track and secure shipments in real time serves as a powerful safeguard against emerging security threats and blindspots across the logistics industry.

Actionable Strategies for Implementing Real-Time Tracking

According to Procurement Tactics, global supply chain visibility has experienced 22.4% growth in recent years. This coincides with 63% of organizations implementing technological solutions to monitor and assess the efficiency of their supply chains, according to PWC.

It's clear that companies are increasingly turning to technology to build the supply chains of the future, and real-time ocean container tracking is playing its part in strengthening logistics operations.

As more businesses rely on technology for real-time ocean container tracking, having an actionable strategy for successful implementation will be key. Here's what that looks like:

  • Evaluate and choose the right tracking technology and platform that aligns with your business objectives and integrates seamlessly with existing systems.

  • Invest in comprehensive staff training to ensure that employees understand the importance of data-driven decision-making enabled by real-time insights.

  • Form strategic partnerships with technology providers to access continuous support, updates, and innovative solutions tailored to your changing needs.

  • Use data analytics tools to harness the huge amount of information collected through tracking systems, enabling deeper insights and informed decision-making.

  • Create a culture of continuous improvement by regularly reviewing and optimizing the tracking setup to adapt to new challenges and opportunities in the logistics environment.

Ship With Certainty With Vizion

With Vizion, you can maintain total ocean container visibility and comply with shipping regulations worldwide. Our platform pushes the most complete, standardized, and detailed container tracking events to any spreadsheet, ERP, TMS, or other software system in accordance with maritime industry standards.

Book a demo with VIZION today and see the difference that real-time ocean container tracking will make to your supply chain.