The current system (including paper practices) is not able to support that. Digitalisation, with the benefits as mentioned before, is required, amongst other things, to support the growth, says an article published on port technology website.
Navigating Global Trade Dynamics, The Role of eBLs
Current Challenges In Global Trade
Global trade dynamics, marked by exceptionally high shipment volumes, larger vessels, and expanded port capacities, present formidable challenges.
The traditional paper-based practices are struggling to cope with the growing demands. Research predicts a tripling of global trade by 2050, necessitating a reevaluation of existing systems.
Digitalization As The Beacon of Change
Embracing digitalization is pivotal for overcoming challenges associated with increased volumes, larger vessels, and expanded port capacities.
Notably, the shift to digital platforms, such as electronic Bills of Lading (eBLs), can significantly enhance efficiency, security, and error reduction in the trade documentation process.
The Potential Of eBLs In Global Trade
Efficiency Gains Through Digitalization
Digitalization, particularly through eBLs, offers a pathway to process higher volumes in shorter timeframes. The agility of digital processes aligns with the demands of modern shipping, allowing for smoother transactions and reduced processing times.
Transformation Of Old-Fashioned Processes
eBLs exemplify the transformation of outdated processes through digitalization. In the face of evolving trade dynamics, the industry must leverage digital tools to adapt and thrive. Digitalization of documentation processes, not limited to eBLs, becomes essential to support the growth trajectory expected in the coming years.
Industry Perceptions And Challenges In Implementing eBLs
Industry Evolution And Digitalization
The maritime industry has undergone significant changes over the past few decades, with standardization of containers, the rise of mega-ships, and the introduction of autonomous ports. However, the industry has yet to fully exploit the potential of digitalization.
Resistance To Change and Collaborative Solutions
While the industry has expressed support for digitalization, challenges persist. Resistance to change, often observed in the ports industry, poses a hurdle. The Digital Container Shipping Association (DCSA) exemplifies a proactive mindset, emphasizing the need for collaboration to drive digital transformation.
The ‘Chick-Egg’ Attitude And Breakthroughs
Resistance to electronic processes, such as eBLs, has been influenced by a ‘chick-egg’ attitude, where stakeholders cite their trade partners’ unreadiness as a barrier. However, industry players expressing support for digitalization signals a breakthrough.
Commitments like the 100% eBL adoption by 2023 underscore the industry’s determination to overcome challenges collectively.
The Call For Collective Action
Digitalization, A Collective Journey
The success of digitalization in container shipping hinges on collaboration. The industry acknowledges the interdependence of stakeholders and emphasizes the need for collective action. The commitment to 100% eBL adoption is an invitation for all involved in global trade to join the digitalization journey.
Unity In Digital Transformation
For digitalization of end-to-end documentation processes to succeed, every stakeholder must actively participate. A unified effort is crucial; even a single unready stakeholder can disrupt the seamless flow of digital data.
The call is clear – everyone is needed to navigate the digital transformation in global trade successfully.
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Source: port technology
