Content Mutual

The modern container shipping celebrated its 60th anniversary in 2016. Unfortunately, global shipping has functioned much in the same way since and has not kept pace with globalization and the demands brought upon by rapid changes in technology.

90% of all goods in global trade is carried by the shipping industry, but even in the age of smartphones and self driving cars, manual paper-based systems – such as fax machines – are still the industry standard method to process shipments. Almost 50% of large global companies communicate with their suppliers using email, phone or fax when ordering stock, processing invoices and producing bills of lading.

We all know the conventional method goods get processed and shipped across the globe, which is moving a good from a producer to the seller and ultimately arriving at the end user. We call this process the ‘supply chain'. In actuality, this process is in fact not quite a chain at all. Its procedures may include everything from the extraction of raw materials, manufacture of goods, storing in appropriate packaging, loading to freight on board for shipping and finally delivering to the end customer.

Managing today's supply chains is extraordinarily complex. Depending on the product, the supply chain can span over hundreds of stages, multiple geographical (international) locations, involve a swathe of invoices and payments, and extend over months at a time.

The conventional supply chain is broken in a myriad of ways. When its was...

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