Adding values to any business reflects its success in all aspects. This is more certain in present transport a business which is mainly due to the vast demands in logistics. Every industry can streamline its process by transporting the right products through the right transportation mode. In common, there are several reasons why transport companies find challenges in usual activity it includes lac...
Transport management system (TMS) or Transport management software is a logistics based software extensively used in distribution, fleet management, and logistics industry. TMS is developed to manage, control, execute, and monitor the entire operation of the transportation process. TMS administers the incoming and outgoing of logistics fleets helping in optimizing the daily operations and ensures the goods are delivered on time. It comes under the subsystem of Supply Chain Management.
The global TMS market estimates that from 2021 to 2026 the sector will grow at a rate of 15.1% CAGR and expected to reach a market size of USD 6633.8 million from the current size of USD 2453 million. At the present time, many companies are developing and offering transport management system solutions around the world.
Custom Transport Management System
If that is the case, can logistics firms go ahead and built their own customized transport management system? The question in this scenario is absolutely possible because a custom based TMS offers more specialized solutions tailored to meet your firm’s business needs.
A custom transport management system topples the ordinary TMS by driving more importance on the Artificial intelligence technology that is being adopted by the logistics industry. A Custom designed TMS brings in multiple functionalities to the transportation process and integrates the daily operations with ease.
How Custom TMS works for your business
Before venturing into custom TMS, a firm should consider its operational needs, expenses, storage requirements, and how to achieve maximum efficiency in the logistics process. This step is crucial because each firm has different requirements, internal processes, and business specifications.
A firm has to consider these functional requirements for building custom TMS:
• UI/UX design of the custom TMS
• Integration of other modules into the software, like ERP
• Overall compatibility of the custom design
• Storage requirements
• Operational and non-operational costs required
Advantages of Custom TMS
There are many added advantages while developing a customized TMS. Listed below are some important and basic boons of having a custom TMS.
Optimization: Optimized routes and cargos help in maximizing the vehicle’s efficiency and capacity. The vehicles are tracked, monitored to achieve maximum optimization, thereby reducing transportation costs.
AI-enabled technology: Artificial intelligence present in the software ensures that the information passed over the logistics process is accurate and dependable. It predicts the future state of a vehicle and offers recommendations to improvise.
Scalability: Scalability matters a lot while developing a new TMS. A good TMS is scalable across APIs & integrations, analytics reports, vendor management, etc. This is crucial to meet the demand for on-time delivery shipments and customers.
Customization helps to build TMS software according to a firm’s requirements and standards. This comes handy while meeting the overall project demand and functionalities.
Future of Custom TMS: In this fast-moving world, most industries use the latest technologies, and the Logistics sector is no exception. Artificial Intelligence is one field that is now being adopted by the logistics sector with other technologies in tow. According to industry giants, below areas are expected to have a remarkable bloom in the logistics and transportation industry.
• IoT: Internet of things (IoT) is on the verge of becoming an unavoidable technology in the logistics sector. IoT based devices and sensors are integrated into logistics fleets to capture real-time data of routes and driving conditions.
• Machine Learning: ML algorithms help in predicting transit conditions and time using historical data & trends.
• Blockchain: Blockchain mechanism helps to integrate fleets with the customer for the utmost efficiency and transparency through the entire logistics process.