World Post Day: How FarEye is optimising postal logistical operations
The platform with its machine-learning-based platform, is enabling global brands including UPS, Lithuania Post and Posti to orchestrate, track, and optimise their logistics operations.
With digital connectivity on the rise and the pandemic fueling the growth, the postal industry remains focused on generating growth, increasing efficiency and investing in both a physical and digital future. FarEye, a logistics orchestration platform has been working with postal companies since its inception. Leveraging trusted technology, strong partners and regional last-mile networks, posts are looking to grow their share of the global, dynamic and highly-competitive B2C delivery market - which is driven by the ecommerce boom.
The platform with its machine-learning-based platform, is enabling global brands including UPS, Lithuania Post and Posti to orchestrate, track, and optimise their logistics operations. It is empowering global enterprises in making deliveries more customer-centric, helping them shrink delivery time by up to 27 per cent, increase courier productivity by up to 15 per cent, and cut risks by up to 57 per cent. This has assisted postal and parcel services to achieve operational excellence, even with Covid-19 restrictions and consequent lockdowns.
Commenting on this, Kastytis Valantinas, director of operations, Lithuania Post said, “In the past months, both the postal sector (+courier) and the needs of our clients transformed. Quarantine resulted in rising online sales and the boom of e-commerce, thus Lithuania post had to change as well. In just a few days we managed to rebuild over 100 inner processes to accommodate the increasing number of parcels and health security. Data helped us to reach best decisions - redirect parcels from couriers to mobile postmen, effectively use our network of parcel lockers to ensure parcel delivery with no human contact. In 2020, 1.6 million parcels were delivered through parcel lockers – this quantity exceeded last year’s results by the end of June. “
Speaking on the change, Mr. Kushal Nahata, CEO and co-founder of FarEye said,”Despite ongoing changes in the ecosystem, the postal industry continues to reinvent. Parcels remain at the centre of growth, contributing almost half of the aggregate increase in revenue. While posts delivered fewer letters worldwide, volume declines were partially offset by growth in small e-commerce packets. In an online world today, a brand experience is largely defined by its logistics journey. In fact, logistics is the only actual touch point between the brand and its customer. In order to scale & sustain growth, onboarding the right technology will prove to be the winning shot for this industry. FarEye is enabling postals to guarantee delightful, branded and personalised customer experiences which in turn will help their customers to drive business growth and ensure brand loyalty.“
“Quick adaptation, courage to change, inner unity are the key strengths that help overcome challenges. The changes we experienced during 2020 are not going away and the parcel quantity will never be the same – people got used to buying online, use parcel lockers to send and receive their parcels. During quarantine 42 new parcel lockers were built and we plan to reach 284 LP EXPRESS parcel lockers in Lithuania by the end of this year. As well, such time invites to review the product portfolio – a new service demand is very high. Lithuania post is planning to develop and extend services like - Same day delivery, delivery to parcel locker with higher daily frequency; extension of Mobile Postman service portfolio,” Valantinas further added.
In addition, last-mile parcel delivery is expected to grow to $62 million by 2025. Investing in technologies like experience loyalty solution allow brands to provide seamlessly connected online to offline experience by engaging customers on an emotional as well as transactional level.
Tommi Kässi, VP Parcel Ecommerce Large domestic customers, Posti felt the same. “During Covid-19 we’re seeing a +32 per cent growth in parcel deliveries in Finland and the Baltics, and a growing demand for home deliveries and in order to meet this demand and new requirements from our customers we need easily adoptable and flexible solutions like FarEye.”
“Versatile, configurable, user friendly, API ready cloud based solutions are one cornerstone in our ICT and legacy modernization strategy and FarEye fits that bill perfectly,” Jonas Hagner, CTO, Posti added.