Global Perspective of Digitization and Innovation in Shipping Industry

Abstract

: Digitization and innovation is transforming the shipping industry. This will have considerable improvements on revenue and cost. Already, several companies are on the top of that, other companies still have the opportunity to follow and adopt the digital transformation. Digitization different forms to improve operation and business in general. been already digitized package tracking, document management, network design, pricing, and empty container repositioning. Of course digitization has two sides, internal one within the shipping company itself and the other side that deals with customers. To succeed in adopting digitization, any company should have a clear vision about digitization, integrating new technologies, IT capabilities and mindsets into their traditional business. In this paper, related literature was reviewed, the impact of logistic industry as a service sector on economic development was identified. Shipping industry as a major component in logistic was discussed. The role of digitization and innovation in developing logistic and in particular shipping industry was identified. As a case study, the case of KX Group, which is a leading global provider of innovative and fully integrated supply chain solutions was discussed. Results of using digital solutions are presented and analyzed.CAGE analysis was carried out to understand how the digitization in KXGroup was utilized and perceived in different countries. Analysis showed a big gap between USA and Middle East & Africa numbers on the online bookings.