What you will learn…

1. Logistics in India overview: Challenges and Opportunities
2. Why are best practices in logistics management essential?
3. What are the benefits of using logistics management solutions?
4. How 3 best practices will help to streamline logistics management?
5. Let’s Wrap Up!

Logistics industry overview: Challenges and Opportunities

The logistics industry in India is a major drain on the economy, accounting for over 13% of GDP and ranking amongst some of lowest payers when compared with developed countries. Fragmented systems and a lack of transparency in the logistics industry leave logistics owners, fleet managers and truck drivers struggling to keep up with their transportation management operations. However, efficient logistics management solutions and best practices can help to streamline logistics.

Why are best practices in logistics management essential?

The global logistics industry is evolving at an unprecedented pace, and technology plays a key role in this shift. The traditional transportation management solutions in India are expensive and time consuming, while technology-driven best practices in transportation management are cost effective. Logistics management solutions are essential to streamline various operations and business aspects such as fleet management, payment processing and administration.

What are the benefits of using logistics management solutions?

Logistics management solutions can help companies and individuals with their transport and supply chain logistics. They solve the problems of owners, fleet managers or drivers by providing tools to streamline everything from real-time operations, expenses and data.

• Better visibility: Logistics management solutions provide real-time visibility and notifications so you can stay up-to-date on what’s happening in your operations and make better decisions to improve productivity.
• Better savings: A key benefit of logistics management solutions is reducing overhead expenses by automating and optimizing varied operations without the need for more people, paperwork or traditional processes that involve a lot of money.
• Better management: Logistics management solutions efficiently tackle problems arising from a fragmented ecosystem by unifying operations through a single dashboard to streamline, monitor and manage data, transactions and tasks.

How 3 best practices will help to streamline logistics management?

• Unify management: In order to maximize the efficiency and profitability of administrative tasks, fleet operations and other processes, an easy-to-use solution is needed. Choose a digital logistics management platform to streamline and manage operations and transactions in one place.
• Digitize payments: Invoice processing, multiple expenses while on the road and other transactions involve a lot of paperwork, receipts, people and time and are often prone to errors. However, digitizing payments can reduce administrative costs, misuse of cash and provides better management with multiple payment methods, quick processing time and less error or manipulation.
• Automate operations: Logistics management solutions have been incorporating cutting-edge technologies like AI, IoT and Big Data to automate tasks for reducing operational costs, increasing productivity and minimizing errors.

Let’s Wrap Up!

Logistics is a highly fragmented industry in India compared to its global counterparts and a major drawback being the use of traditional systems and solutions that are not sufficient for the evolving and highly competitive market. However, the integration of technology-driven best practices in logistics management prove to be efficient in streamlining operations with real-time visibility, cost reduction and better management by unifying, digitizing and automating tasks, payments and operations.

What you will learn…

1. Why is there a need for a unified digital logistics management platform?
2. How Axlerate helps to cut costs in logistics and supply chain management?
3. What transportation management solutions does Axlerate provide?
4. Let’s Wrap Up!

Why is there a need for a unified digital logistics management platform?

The need for a collaborative and comprehensive platform in the logistics and transportation industry has never been more pressing. Challenges in logistics and supply chain management is inevitable as it is a highly fragmented industry. To counter the challenges in transportation, it is important to use a unified digital logistics management platform that provides all the necessary transportation management solutions under one roof in order to save time and money while also being more efficient.

How Axlerate helps to cut costs in logistics and supply chain management?

Axlerate is a unified digital logistics management platform for logistics and transportation that focuses on making things easier for logistics owners, fleet managers and drivers to save time and money. Our transportation management solutions are developed to facilitate unified management, savings on fuel, cashless payments, real-time visibility, easy financial claims, expense reduction, work-life Balance, social Security benefits, risk mitigation and fraud prevention.

What transportation management solutions does Axlerate provide?

Our unified digital logistics management platform includes AxleTags, AxleCards, AxleFinance, AxleDrive, AxlePay, AxleDirectory and AxleMarketplace. Let’s take a look at how these transportation management solutions can be the best solution for logistics!

• AxleTags: AxleTags help to make toll payments simple with multiple recharge options and track toll expenses through our user-friendly dashboard.
• AxleCards: AxleCards help to avoid theft and save money with cashless payments and rewards from our fuel cards and our expense management cards help to unify all major fleet expenses.
• AxleDrive: Our GPS and fleet management solutions provide real-time tracking, route optimisation, and improved driver workflow to ensure enhanced productivity and safety.
• AxlePay: AxlePay simplifies transactions in logistics with seamless account creation, money transfer, payroll and lending services through increased speed, convenience and cost savings.
• AxleFinance: AxleFinance provides capital loans for logistics operations and insurance for risk management. It also includes an escrow service for a safe exchange of logistics goods and services.
• AxleMarketplace: An e-commerce platform for logistics supplies with a wide range of products, custom search, multiple payment options and order tracking from purchase to delivery.
• AxleDirectory: AxleDirectory helps to book trucks from trusted logistics service providers through a hassle-free process, transparent pricing and real-time tracking updates.

Let’s Wrap Up!

Logistics is a difficult industry to navigate for many reasons, including the fact that it is highly fragmented. However, a unified digital logistics management platform offers various transportation management solutions in one place that can help you to overcome the challenges efficiently.

Axlerate provides a unified digital logistics management platform with transportation management solutions to simplify tolls, fuel purchases, fleet expenses, loans, insurance, escrow, payments, truck booking, fleet management and the buying and selling of logistics products and services.

What you will learn…

1. What are the biggest challenges in transportation and logistics?
2. Why does the logistics industry need a new solution?
3. How Axlerate will be the best solution for transportation and logistics?
4. What are the benefits of using Axlerate for your logistics needs?
5. Let’s Wrap Up!

What are the biggest challenges in transportation and logistics?

As a highly fragmented industry, challenges in transportation and logistics include problems faced by logistics owners, fleet managers and truck drives. Logistics owners often find it difficult to manage and monitor their day-to-day operations without real-time visibility and automation. Fleet owners have to spend a lot of time and effort on administrative tasks like managing fleet movement and expenses. Truck drivers often have to cope with long hours, hazardous routes, poor weather conditions, vehicle maintenance and lack of necessary facilities while on the road.

Why does the logistics industry need a new solution?

Though there are many great logistics and transportation management solutions developed by supply chain and logistics technology in the market, they vary greatly in scope and come from different vendors. This can make it difficult for logistics owners, fleet managers and truck drivers as they have to depend on multiple vendors from different places to meet all their logistics needs. That is why, there is a need for a unified digital logistics management platform to streamline operations and transactions all in one place.

How Axlerate will be the best solution for transportation and logistics?

There is a need for a collaborative and comprehensive platform to accommodate all the varied and relevant solutions needed to streamline operations and expense management to counter challenges in transportation and logistics. Axlerate is a unified digital logistics management platform that focuses on making things easier for logistics owners, fleet managers and drivers to save time and money.

What are the benefits of using Axlerate for your logistics needs?

Axlerate provides logistics and transportation management solutions where all fleet-related operations, receivables and payments can be processed or managed from a single dashboard. Axlerate products include AxleTags, AxleCards, AxleFinance, AxleDrive, AxlePay, AxleDirectory and AxleMarketplace. Our efficient range of products help to simplify tolls, fuel purchases, fleet expenses, loans, insurance, escrow, payments, truck booking, fleet management and the buying and selling of logistics products and services.

Let’s Wrap Up!

Challenges in transportation and logistics involve complex operations and payment systems as it is a highly fragmented industry. Though there is a considerable amount of supply chain and logistics technology available in the market, it is distributed among many vendors and logistics owners, fleet managers and truck drivers have to reach out to multiple vendors and resources to meet their varied needs.

Axlerate is a unified digital logistics management platform to unify all fleet-related operations and expenses. Our solutions help to simplify tolls, fuel purchases, fleet expenses, loans, insurance, escrow, payments, truck booking, fleet management and the buying and selling of logistics products and services.

What you will learn…

1. National Logistics Policy: What is it and why does it matter?
2. What are the highlights of the National Logistics Policy?
3. How will the National Logistics Policy impact the industry?
4. Why fintech companies are the right partners for implementing the policy?
5. Let’s Wrap Up!

National Logistics Policy: What is it and why does it matter?

Logistics and transport management are crucial for every country to ensure seamless movement of goods for economic growth. The logistics sector in India is highly fragmented, therefore the national logistics policy was formulated by the Union Ministry of Commerce and Industry to facilitate a centralised system for streamlining all transport and logistics management, information and operations.

What are the highlights of the National Logistics Policy?

The National Logistics Policy 2022 focuses on adapting logistics networks and transportation processes to improve efficiency and reduce costs. The policy’s main goal is to lower the cost of logistics from 14–18% of GDP down to the global standard of 8%. The digital integration of varied systems for greater visibility and accessibility is also part of the transportation infrastructure and policies.

How will the National Logistics Policy impact the industry?

The National Logistics Policy 2022 will positively impact the industry with cost reduction, unified management and increased efficiency.

• Cost Reduction: The prime focus of the National Logistics Policy 2022 is to reduce the overall costs in the logistics sector from 14–18% to 8% GDP involving transportation, storage, and inventory expenditures within a period of five years.
• Unified Management: In order to assist multiple groups involved in logistics to collaborate more efficiently, a unified system has to be developed for linking various data sources. Therefore, the Unified Logistics Interface Platform (ULIP) will be created to provide a central digital system for all logistics and transport management.
• Increased Efficiency: The policy also enforces digitalization through technology adoption to reduce paperwork, and eliminate intermediaries with digital bills, FASTag and other solutions to increase efficiency in logistics and transport management.

Why fintech companies are the right partners for implementing the policy?

Automation and clear visibility of specific tasks are necessary for logistics owners for efficient logistics and transport management. This is due to the fact that the logistics ecosystem is highly fragmented. Fintech companies provide a logistics ecosystem that facilitates the management and processing of all fleet-related operations, bills, and payments from a single dashboard.

Therefore, fintech companies involved in streamlining logistics operations and payments are the right partners for implementing the National Logistics Policy 2022 as they provide solutions for real-time visibility, managing expenses and analysing crucial data in a unified logistics interface without the need for tedious paperwork or intermediaries.

Let’s Wrap Up!

The National Logistics Policy 2022 is initiated with the purpose of resolving the fragmented logistics ecosystem in India by promoting the need for overall cost reduction, unified management and increased efficiency.

Fintech companies involved in the field of logistics will be the ideal partners to implement the transport and logistics policy as they focus on creating a digital ecosystem to streamline logistics operations and payment through a unified platform with a single dashboard.

What you will learn…

1. Why is Fleet Management necessary in today’s economy?
2. Who are Fleet Managers and what is their primary role?
3. What are the 4 biggest Challenges faced by Fleet Managers?
4. How Technology Can Help Fleet Managers optimise productivity?
5. Let’s Wrap Up!

Why is Fleet Management necessary in today’s economy?

Fleet Management ensures greater productivity of fleet operations while also reducing costs. Commercial fleet management involves monitoring fuel consumption, vehicle health, route optimization, and fleet-related expenses including parking, tolls, insurance and more. A study reveals that efficient fleet management lowers accident costs by 16–30%, fuel by 7–20% & labour by 9–25% (Source: G2 Tech Marketplace).

Who are Fleet Managers and what is their primary role?

Fleet operations managers, as the name suggests, manage a company’s vehicles or their own commercial vehicles to ensure a seamless delivery of shipments. The fleet operations manager plays a crucial role in maintaining the day-to-day operations of the fleet including vehicle acquisition, assigning vehicles to drivers, monitoring driving patterns, increasing fuel efficiency, setting maintenance schedules, tracking fleet metrics and ensuring legal compliance.

What are the 4 biggest Challenges faced by Fleet Managers?

• Administrative tasks: Fleet Managers spend most of their time on administrative tasks such as invoicing. According to TomTom’s global study, 49% of fleet managers spend an average of 1.5–2 hours per week on invoicing and verifying transactions.
• Lack of visibility: Fleet managers cannot communicate or monitor truck drivers due to lack of visibility and it leads to lower productivity. Moreover, lack of visibility into proper routes can cause delayed delivery of goods or might even lead to accidents.
• Fleet Maintenance: Fleet Managers should ensure that the trucks are scheduled for regular maintenance to prevent the restriction of certain functions over time, resulting in wear and tear costs and to avoid accidents.
• Multiple Expenses: Fleet managers struggle with multiple expenses and a lot of receipts to handle manually. A recent survey reveals that 44% of fleets rated increasing costs as a top challenge to daily fleet operations.

How Technology Can Help Fleet Managers optimise productivity?

• Invoice payment systems: By using an invoice payment management system, fleet managers can streamline payments, and ensure uninterrupted cash flow. Moreover, they can have easy access to transaction history, without any mistakes, paperwork, or the need for third parties.
• Fleet tracking systems: Fleet tracking systems provide real-time tracking for commercial vehicles to ensure greater visibility, productivity and safety. It involves route optimisation, predictive maintenance alerts and monitoring driver behaviour to reduce distractions while driving, reduce idle time, and improve fuel efficiency.
• Integrated fleet cards: Fleet managers can use integrated fuel and fleet management cards to get discounts on fuel purchases and to unify fleet-related expenses including tolls, parking, maintenance and more. Moreover, they can prevent theft or fraud with cashless payments and notifications.

Let’s Wrap Up!

Commercial fleet management is a tedious process that fleet operations managers undertake to ensure a seamless flow of goods and services between shippers and customers. There are a number of challenges faced by fleet managers including administrative tasks, lack of visibility, fleet maintenance and multiple expense management.

However, these challenges can be overcome by fleet management services provided by fintech companies like invoice payment systems, fleet tracking systems and integrated fleet cards for seamless operations and payments. Axlerate is a fintech platform for the logistics ecosystem to monitor and manage fleet operations and payments.

What you will learn…

1. What are the potential health hazards involved in truck driving?
2. How can health insurance help truck drivers during a crisis?
3. What are the loopholes in claiming health insurance for truck drivers?
4. Can fintech companies make health insurance claims easier?
5. Let’s wrap up!

What are the potential health hazards involved in truck driving?

Truck driver health is a matter of concern as a lot of time is spent on the roads and it leads to potential hazards that can cause severe or permanent health issues. Truck drivers are vulnerable to accidents as they usually drive long-haul vehicles that are difficult to handle on narrow or uneven roads. They also suffer from muscular pain, sleep disorders, lung issues, hypertension and are vulnerable to heart diseases, diabetes and strokes.

Truck drivers’ health mostly deteriorates due to improper sleep schedules, long hours of driving, exposure to loud engine sounds, and physical overexertion while loading and unloading cargo. Moreover, they can also be affected by unprecedented issues like inhaling poisonous gases due to the leakage from any chemical cargo that they transport. Thus, truck drivers encounter occupational hazards that negatively affect their health.

How can health insurance help truck drivers during a crisis?

Health insurance for truck drivers is beneficial because it caters to their physical and financial well-being or stability by helping them pay for medical expenses and receive timely care during emergencies. However, it is important to ensure that medical insurance or health insurance for independent truck drivers or trucking companies has comprehensive coverage for most of the major or potential occupational hazards in trucking.

What are the loopholes in claiming health insurance for truck drivers?

Most trucking companies can afford to provide health insurance for truck drivers working for them. However, more often, these policies do not include coverage for serious and long-term illnesses or even for road accidents. On the other hand, many independent truck drivers do not seek health insurance because the premium is often high and they cannot afford it due to their meager income. Moreover, claiming health insurance for truck drivers is a lengthy process that involves a lot of paperwork, time and effort.

Can fintech companies make health insurance claims easier?

Fintech companies optimise the payment systems to ensure that truck drivers can claim insurance benefits during a crisis within the stipulated time. Fintech companies utilise digital data and KYC for quick disbursement of funds unlike traditional insurance processing which takes several days or even months to claim benefits with a lot of paperwork that is involved. Thus, fintech companies simplify claims of health insurance for truck drivers which is beneficial for both trucking companies and independent truck drivers.

Let’s Wrap Up!

Truck drivers spend most of their time on the roads and are exposed to multiple hazards that either cause casualties, and injuries or affect their health with a serious or permanent illness. Though truck drivers are prone to accidents and health issues resulting from various reasons, only a few trucking companies or independent truckers opt for insurance policies.

Moreover, most insurance policies do not offer necessary coverage or even if they do, the claims take a relatively long time to be processed resulting in delayed fund disbursement. This is where fintech companies become a game changer as they optimise payment systems and processes to ensure quick fund disbursement with regard to the health insurance of truck drivers.

What you will learn…

1. Understanding invoice processing disputes
2. Why is invoice dispute a challenge in logistics?
3. 4 Invoice disputes that could be costing you money
4. Technology as a solution to invoice disputes in logistics
5. How Escrow Services can help settle invoice disputes?
6. Let’s Wrap Up!

Understanding invoice processing disputes

An invoice dispute is a major challenge faced by businesses or commercial organisations of all sizes where a customer or client disagrees with the charges and therefore, refuses to make payment. Invoice disputes can arise from human error in terms of accounting, misunderstanding, or when your customer does not have enough funds to pay. It is quite common for businesses to have disagreements over invoices, but if they are handled with relevant contracts along with billing and invoicing software, services and systems in place, such disputes can be quickly and efficiently resolved.

Why is invoice dispute a challenge in logistics?

Invoice disputes in logistics are a major challenge owing to the number of parties involved and the complexity of operations. A lot of time, effort and resources are required to manage freight invoices and payments. A study mentions that 49 percent of fleet managers spend 1.5 to 2 hours on invoicing (Source: Netradyne). However, invoice disputes are still a challenge. GoComet, a multi-modal logistics platform reveals that 75% of logistics leaders say most freight invoices do not match the final quotation. Thus, the logistics industry suffers a great deal due to continual shipment issues that can cause huge losses.

4 Invoice disputes that could be costing you money

• Processing errors: Manual invoice processing in logistics is often prone to error in terms of inaccurate or incomplete invoices resulting from a lack of real-time visibility, missing documents, or carelessness.
• Pricing disputes: Pricing disputes arise due to the difference in pricing between the payment that is charged and the one that was agreed upon initially by both parties. It may occur due to hidden costs or additional costs incurred during the process.
• Payment constraints: When customers have issues with cash flow and request an extension on the payment schedule, a dispute arises in terms of charging a commitment fee or a late payment fee as compensation until the full payment is received.
• Product Dissatisfaction: If the quality of the delivered goods and services does not meet the customer’s expectations, an invoice dispute might arise as the customer may decide to negotiate the price that was initially agreed upon by both parties.

Technology as a solution to invoice disputes in logistics

Traditional invoice payment systems lack transparency, often result in accounting errors, and take an unnecessarily long time to process transactions. So, the best way to optimise cash flow and reduce time wasted on invoice processing in logistics is by switching to automated billing or invoice processing software, platforms or systems offered by technological advancements. It becomes easier, faster and more efficient to manage freight invoices and payments without losing receipts, handling enormous amounts of cash or making double payments.

How Escrow Services can help settle invoice disputes?

Having a formal contract or agreement in place for all business transactions is crucial. These legal documents can help resolve invoicing disputes quickly and efficiently. However, it is not always possible to keep contracts in place as it involves a lot of time and enormous amounts of paperwork. Fortunately, escrow services can be utilised for secure invoice processing in logistics.

An escrow service acts as a mediator between two parties who make a transaction. It negotiates, secures the funds and ensures the delivery of products or services to the customer and the payment to the concerned party that provides the products or services. An escrow service helps with quick fund disbursement and prevents fraud.

Let’s Wrap Up!

Managing freight invoices and payments is a complicated task that involves enormous amounts of paperwork and loss of time and is often prone to errors and disputes. Invoice disputes usually occur due to miscalculations while processing, pricing inconsistencies, payment constraints and product dissatisfaction that leads to negotiation or withdrawal of payment. However, invoice disputes can be handled efficiently through automated billing or invoice processing software, platforms or escrow services.

What you will learn…

1. What is load planning and how does it impact logistics?
2. Why is load planning crucial for logistics cost reduction?
3. How to optimize your truckload to reduce costs?
4. How technology improves load planning in logistics?
5. Let’s Wrap Up!

What is load planning and how does it impact logistics?

Truck load planning in logistics refers to the process of organising shipments to fill the maximum capacity of trucks and increase efficiency while also reducing transportation costs. It involves the consolidation of various shipments onto fewer trucks to save time and money. However, it is not about merely increasing the product quantity in a truck but it requires careful analysis of the type of product, vehicle specifications, the route to the destination, similar shipment delivery schedules, and more.

Why is load planning crucial for logistics cost reduction?

Load planning in logistics is crucial for cost reduction because, when you don’t plan your truck loads efficiently, it creates a need for more trucks and drivers on the road. This in turn causes additional mileage, which results in increased fuel expenses, overtime charges for drivers, and more.

How to optimize your truckload to reduce costs?

Load and route optimisation provides greater scope to reduce transportation costs. Truckload can be optimised through complete and real-time visibility of trucks and driver schedules. It can also be optimised by analysing delivery routes and combining shipments to reduce fleet-related and driver expenses. You can also use technological tools, software and platforms like Truckload Optimisation Software, Transport Management Systems and Digital Freight Matching Platforms to optimise your truckload and reduce transportation costs.

How technology improves load planning in logistics?

• Truckload Optimisation Software: Planning your load arrangements well ahead of time helps to navigate through loads easily during shipment and reduces transportation costs. The truckload optimisation software provides an interactive 3D environment to develop your truckload layout using a drag and drop system and the arrangement can be made with regard to the product type, product weight and delivery priority.
• Transport Management Systems: A transportation management system allows you to keep track of and monitor every aspect of your transportation operations in real-time. TMS provides load and route optimisation and optimized routes help simplify your deliveries so that you can use fewer resources and reduce transportation costs. A study mentions that Shippers can minimize freight invoice payments by 90–95% if they utilize a transportation management system (GlobalTranz, 2018).
• Digital Freight Matching Platforms: Digital Freight Matching Platforms are web or mobile-based applications developed to connect shippers and carriers. They help coordinate trucks with available load capacity for a more efficient system that reduces transportation costs. For instance, trucks travelling on similar routes can be identified and two different loads going to the same destination can be combined into one truck and the cost can be split up between the two parties.

Let’s Wrap Up!

Truck load planning in logistics is crucial for optimizing truck capacity, increasing efficiency, and reducing transportation costs. Load and route optimisation with real-time visibility and data analysis is the ideal solution to ensure strategic load planning in logistics. You can utilise Truckload Optimisation Software, Transport Management Systems, and Digital Freight Matching Platforms that provide load and route optimisation for efficient load planning in logistics to reduce transportation costs.

What you will learn…

1. What are empty miles and why does it matter?
2. How do empty miles affect the economy and environment?
3. What strategies can help to reduce empty miles for your fleet?
4. 3 technological solutions to address the problem of empty miles
5. Let’s Wrap Up!

What are empty miles and why does it matter?

The trucking industry has its own set of challenges in terms of logistics and transportation management that impact the economy and the environment to a large extent. One of the major causes that create such an impact is empty miles in trucking. It refers to the process where trucks are driven empty to the destination due to the lack of efficient freight load matching strategies, solutions or technologies.

Recent research indicates that empty miles in trucking range from 33% to 40% of the total miles driven (Source: Convoy). Empty miles in trucking matter because it increases fuel consumption, logistics carbon footprint, and unproductive hours for drivers while not fetching revenue.

How do empty miles affect the economy and environment?

• Economic Impact: Empty miles in trucking affect the economy of logistics in terms of lack of revenue generation. Trucks that return to the destination without loads still require gallons of fuel and incur maintenance costs but do not provide any value since there is no income because of a lack of shipments. Moreover, it also leads to additional costs like salary for drivers even during unproductive hours when trucks remain idle at warehouses or other destinations.
• Environmental Impact: The lack of real-time visibility and proper communication channels between shippers and carriers lead to empty miles which in turn affects the environment in terms of logistics carbon footprint. According to a report by Convoy, a Digital Freight Network, empty miles cause 87 million metric tons of carbon emissions every year.

What strategies can help to reduce empty miles for your fleet?

Increased visibility with shipping networks can efficiently reduce empty miles by optimizing freight load matching. If multiple trucks are making deliveries on similar routes, they can be loaded onto one truck. Moreover, reverse logistics can also be utilized where goods from the final destination can be returned directly through packages instead of loading on trucks.

3 technological solutions to address the problem of empty miles

• Transportation Management Systems (TMS): Continuous fleet movement planning is crucial to reduce empty miles and this is made possible by integrating Transportation Management Systems. It provides complete visibility of the supply chain and helps to schedule loads and assign drivers in such a way that trucks are loaded from and back to the destination and drivers also ensure maximum productive hours and thereby reducing empty miles in trucking and additional costs for fuel and maintenance.
• Digital Freight Matching Platforms (DFM): Manual freight booking is a complicated process because there is limited access to trucking information except for familiar or mutual contacts. This results in empty miles as trucks cannot find enough loads that actually generate considerable revenue. However, Digital Freight Load Matching Platforms (DFM) are web or mobile-based apps which connect customers to carriers and help in finding the available capacity and matching loads for greater efficiency and reduced costs and thereby eliminating empty miles.
• Blockchain and IoT Devices: Data analytics and transparent information exchange plays a vital role in optimising shipment capacity and routes to reduce fuel consumption and empty miles. The integration of blockchain technology with IoT devices help to monitor traffic, weather or risk prone areas and optimise routes to reduce fleet-related expenses while also providing visible yet secure information through blockchain for optimizing freight load matching in real-time to reduce empty miles.

Let’s Wrap Up!

Empty miles in trucking is one of the major challenges faced in logistics and transport management which has a negative impact on the economy and the environment. It leads to additional costs in terms of fuel and fleet maintenance and also results in unproductive hours for drivers and increases logistics carbon footprint.

However, the problem of empty miles in trucking can be addressed efficiently through technological solutions. The major solutions include Transportation Management Systems (TMS), Digital Freight Matching Platforms (DFM) and blockchain with IoT devices, all of which provide increased visibility and shipping networks to reduce or even eliminate empty miles in trucking.

What you will learn…

1. What are the biggest problems in logistics?
2. Why is Axlerate the solution to logistics Problems?
3. How Axlerate products make logistics easier?
4. Let’s Wrap Up!

What are the biggest problems in logistics?

Logistics as an industry involves multiple challenges with regard to owners, fleet managers and truck drives. Since it is a highly fragmented ecosystem, without automation and clear visibility of specific everyday tasks, it is a challenge for logistics owners to unify operations seamlessly.

On the other hand, fleet owners spend a lot of time and effort on administrative tasks to manage fleet movement and expenses. Truck drivers also face challenges in terms of long working hours, dangerous routes, unpredictable weather conditions, vehicle maintenance issues and lack of basic facilities while driving.

Why is Axlerate the solution to logistics Problems?

Solutions from Axlerate are developed to solve the challenges faced by the logistics industry. It tackles the problem of handling multiple logistics or fleet-related expenses that involve multiple processes, methods or devices which creates chaos. We achieve a seamless progress of financial transactions through logistics solutions including handling of expenses related to FASTag, fuel, food and fleet expenses through a centralised dashboard which can be used to set transaction limits, make payments and track expenses.

In short, Axlerate provides transportation management solutions where all fleet-related operations, receivables and payments can be processed or managed from a single dashboard. Some of the products from Axlerate include AxleTag, AxleCards, AxleFinance and AxlePay.

How Axlerate products make logistics easier?

1. AxleTag

The Problem: Paying tolls is a huge challenge, especially for commercial vehicles that travel long distances and for logistics owners and fleet managers who operate a large number of vehicles.

The Solution: AxleTags are FASTags from Axlerate that will be attached to the vehicles and linked to the owner’s bank account and all toll expenses will be automatically deducted at toll plazas by scanning the Tag. It includes added benefits that help to save time and money on toll payments with cashback, multiple recharge options ( UPI, Google Pay, Net Banking, IMPS, NEFT, credit /debit cards) and expense tracking in a user-friendly dashboard.

2. AxleCards

The Problem: In a decade where fuel prices are constantly on the rise, logistics companies suffer the most with transportation being their prime resource. Expense management is also a tedious process especially in logistics operations as it involves a ton of paperwork and management of multiple receipts.

The Solution: Fuel cards from Axlerate help to get discounts and even rewards for fuel purchases. Moreover, it grants access to easily keep track of fuel expenses with a user-friendly dashboard and set limits on transactions to prevent over-spending or fraudulent activities. Moreover, fleet expense management cards from Axlerate will be the ideal solution for unifying on-road payments for every trip including tolls, parking, repairs, lodging and more.

3. AxleFinance

The Problem: The major challenge with regard to working capital in logistics is the delay of payments between parties because of paperwork and other time-consuming processes or insufficient methods of receiving payments. Moreover, logistics companies usually need insurance coverage in terms of cargo damage, cargo theft or hijacking, transportation delays and even loss of sensitive data.

The Solution: AxleFinance provides working capital to ensure seamless and faster transactions at every stage of the supply, shipping, and delivery process. It also provides insurance as part of logistics solutions and helps to claim benefits with prior verification and documentation.

4. AxlePay

The Problem: Traditional invoice payment systems in logistics encounter challenges in terms of accounting errors, lack of visibility, and lengthy processing time of transactions. Moreover, logistics involves enormous amounts of paperwork and clearing bills is a complicated process when invoices are misplaced, stolen or manipulated.

The Solution: Axle Pay helps to simplify invoice payment management systems for logistics payments. It provides uninterrupted cashflows through QR codes, payment pages, links, invoices and web integrations.

Let’s Wrap Up!

The logistics problems vary with regards to owners, fleet managers and truck drivers. However, these challenges can be easily overcome by fintech solutions. Axlerate is a fintech platform for logistics solutions with a prime focus on operations and expense management. The products from Axlerate including AxleTags, AxleCards, AxleFinance and AxlePay are developed to counter the challenges faced by the logistics industry through transportation management services.