To improve their end-to-end supply chain visibility, shippers need a real-time transportation visibility (RTTV) solution. In a previous post, I explained how to select a solution that best fits a shippers' objectives and requirements. This post summarizes the key trends related to providers and solutions for real-time transportation visibility.
1. Double-digit market growth
The overall market is growing at double digits through the acquisition of new customers and expanding the reach of existing customers. Supply chain visibility has been high on the agenda of supply chain managers for years, the supply chain disruptions of the past two years have significantly increased the need for RTTV solutions from a business perspective.
2. Extension solution scope
Providers are expanding the scope of their solution by adding geographies, modes of transport (ocean, intermodal, rail), flows (last mile deliveries), industries and/or tracking details such as inventories and carbon visibility.
3. Improved main features
The core functionality of an RTTV solution is to provide in-transit tracking information and ETA predictions during transport of shipments from pick-up to delivery. Providers are working to improve this functionality, especially with regards to carrier integration, alerts and notifications (customer portals and integration with Microsoft teams) and ERP/TMS integration.
4. Addition of more modules
Vendors are adding more modules to their solution in areas such as capacity/freight matching, appointment scheduling/yard management, tenders/bookings and document management. They do this to leverage the data already available in their solution and to increase the visibility benefits for their customers. Dedicated RTTV platform providers compete in these areas with supply chain business network and TMS providers.
5. Market is maturing
Providers are expanding their scope and capabilities through acquisitions and partnerships. There are only a few providers with a global, multimodal, multi-industrial and multi-flow scope. Other providers focus on niches such as a specific region, transport mode, industry and/or flow.
The knowledge platform www.transportimprovement.com provides more information about the selection criteria for real-time transport visibility solutions and an up-to-date key features overview of the RTVV providers and their solutions.