Freight management involves the coordination and oversight of the transportation of goods from their origin to their destination. This process includes selecting carriers, optimizing routes, managing documentation, and tracking shipments to ensure efficient delivery. Effective freight management aims to reduce costs and improve delivery times within supply chains.
Context
Blockchain technology offers significant advancements for freight management by providing immutable records of shipment data, enabling transparent tracking, and streamlining payment processes through smart contracts. Digital asset news often reports on pilot programs where distributed ledger technology is applied to logistics, enhancing trust and reducing disputes among supply chain participants. The continued integration of these systems promises greater efficiency and reduced fraud in global trade.
Implementing a shared ledger for freight logistics automates reconciliation, eliminating 99% of payment disputes and optimizing core supply chain capital flow.
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