How Technology can reform the Trucking Industry?

The surge of technological developments over the past decade has enabled the industry to tap
into new areas. With the fast paced development of road networks in the country, a number of
web operators have stepped into the industry. The transportation of products is usually
measured in different segments like cargo transport by open body truck, tanker trade, and
container transport.      
The main objective of these new technology enabled business models are to bring forth the
online truck booking system to cover up the variance between client, transporter and other
related entities. In essence, it is to assist the logistic sector to convene the necessary demand
and supply ratio, just by bringing all the key players on the same page.
The transport company starts queuing up leads at the beginning of the day where the shippers
confirm their requirement of truck load movement. The vehicle suppliers get a check on the
inventory of vehicles available. The operations of the spot market in this industry can be
compared to the workings of the stock market where they are both governed by demand and
supply. Once the vehicle availability is made open by the suppliers then the assignment starts.
Something as innocuous as multiple phone calls for a specific route can drive the price up
drastically because of the high demand indication.

All the above activities take place with minimalistic or no technology and because the market
is large, fragmented and unorganised, the truck load assignment has been subjected to a large
number of first-generation procurement mechanisms.