How has the air freight industry adapted to the increasing demand for technological advances within the industry?
Currently, all major airlines provide an online booking platform that allows customers to reserve cargo space on flights. The airline’s website can provide you with routes, schedules, pricing, availability and generate a new air waybill number and book the shipment.
Airlines are continuing to move away from their dependence on paper, air waybills, customs forms, the list goes on and on with over 30 different types of documents. Simply removing the dependency of printed pieces of paper to initiate shipments is a huge improvement for this industry. This lack of data integration and standardization is prone to poor data quality and error mistakes, limits the end-to-end visibility and anticipation along the shipment journey, thus exposing to any unexpected event and bringing inefficiencies to the supply chain.
Dynamic pricing is a feature that will be digitized and implemented as technological advances continue within the air freight industry. Airlines do not currently have the technology to set parameters for implementing dynamic pricing, but this feature could help ensure flights carry as much cargo as possible.
In addition to dynamic pricing, a better understanding of cargo surges and demand can help facilitate more effective schedules and routes. While this is already known to some extent, its analysis could use a boost.