Obsolete tech is clogging up global trade. Here’s how to unblock it
- Outdated logistics systems are unable to keep up with increased demand for goods in the pandemic recovery.
- Both trade’s physical infrastructure and software systems are lagging behind.
- Digital technology can increase freight efficiency in a myriad of ways.
Even as the world starts to dig out from the economic impact of COVID-19, the outdated technologies that power supply chains are holding back international trade and undermining recovery from one of the worst recessions in modern history.
Global logistics companies, running to a surprising degree on brittle mainframe systems, siloed spreadsheets and even paper documents, are unable to keep up with rebounding demand for goods following last year’s lockdowns. This is causing serious shipping delays and bottlenecks that are driving up costs, with containers from Asia to the United States surpassing $15,000 – more than quadruple the…
