Page 19 - STAT May 2024 for Magzter

can help project whether prices will rise
or drop in the future. This can help them
educate customers, lock in prices before
they rise or hold off on booking if they
appear to be dropping."
The pandemic did help to advance
digital transformation in logistics but
the rate of adoption needs to continue
and even pick up pace, adds Hayman of
WiseTech. "In air transport, the passenger
side of the business has led revolutionary
change - we should seek to replicate that By providing
on the cargo side. As consumers, we think
nothing these days of jumping online to comprehensive
search for flights and airfares and then
go ahead and make our booking online. solutions that address
We pay, receive our booking confirmation the unique needs of
and e-ticket digitally and can access our
boarding pass digitally on our phones and freight forwarders,
pass through the airport without having
to print anything on paper and maintain airlines and other
visibility of the status of our flight. We stakeholders, our
need to be at a similar point with air
cargo within the next five years and I company is laying the
believe we will with the leadership driven
change management approaches that foundation for a more
comprehensively address the technology, efficient, sustainable
processes and people."
Petot of CargoAi is very clear that there and interconnected
will be significant growth and transfor-
controlled goods, cartage, linehaul mation in the digitalisation of the air airfreight industry.
and more cargo industry over the next five years.
 More aspects of each transaction: "As technology continues to evolve and Matt Petot
CargoAi
With transactions digitised, additional mature, we expect to see greater adop-
aspects of each booking can also be tion of digital solutions across the entire needs of our customers and internal em-
digitised. This can include, for exam- supply chain, from booking and tracking ployees more accurately and effectively.
ple, payments, insurance and customs to warehouse management and customs "We also expect the integration of
brokerage services. clearance. Fintech is another area where more collaborative platforms that enable
 New business combinations: When we see digitisation benefiting the cargo seamless communication and data shar-
digitised on one platform, new business industry, reducing a lot of manual work ing among all stakeholders in the supply
opportunities emerge. For example, and increasing speed of operations. chain. The development of trustworthy
we’ve already seen interlining bookings "There is still a lot of underutilised AI and automation solutions, both within
between airlines take off over the past data in this industry, and with growing the company and in collaboration with
few quarters. Similarly, forwarders sell- emphasis on valuable and actionable stakeholders in the industry, is one of our
ing to their agents or partners has also data, artificial intelligence, blockchain, and top priorities. It will be crucial to develop
begun to emerge as a serious forwarder Internet of Things (IoT) will play increas- and pursue an AI and automation road-
opportunity for additional revenue at ingly prominent roles in optimising opera- map to secure our position in the global
lower costs of sale. tions, enhancing visibility, and improving competition.
"All of this generates a tremendous decision-making." "At Lufthansa Cargo, we are also com-
amount of data. By providing insights Over the next few years, digitalisation mitted to developing and introducing
from this data back to customers, whether in the air cargo industry is expected to new digital solutions that align with our
through our platform or integrated with advance further, driven by the increas- sustainability goals and measures. We
their systems like TMSs, forwarders can ing demand for faster, more efficient and leverage digital technologies that reduce
operate far more efficiently. transparent logistics solutions, according CO2 emissions for e.g., paper or fuel con-
"For example, we recently launched our to Kaiser of Lufthansa Cargo. "Therefore, sumption. Sustainability, digitalisation, and
Air Volatility Index, which shows forward- we are constantly striving to refine and AI acceleration are and will continue to be
ers pricing trends by lane and carrier and enhance our digital solutions to meet the the key topics in the near future." 

www.stattimes.com | MAY 2024 17