HERE and Yojee Limited, a cloud-based software as a service (SaaS) logistics platform that facilitates the flow of freight movements into a single ecosystem, have teamed up to create a unique operations intelligence solution to transform warehouse operations and management for global companies.
The growth of eCommerce and supply chain trends have resulted in the need for more warehouses worldwide. Experts are predicting that the number of warehouses around the world will grow by 20% between 2018 and 2025 to reach about 180,000, more than half of which will be in China, the United States, Japan, India, and Germany. At the same time, warehousing costs are rising, and companies are spending approximately €300 billion (USD 346 billion) a year on warehousing, with operational costs accounting for 85% of that expenditure.
Combining the expertise of Yojee's logistics software with HERE's location intelligence, this joint initiative will uncover and generate crucial data from the warehouse floor. This will enable businesses to make better-informed decisions on how they can streamline operations and use the maximum capacity of the facility through infrastructure planning, asset tracking and workforce management. These operational intelligence data points will help to establish a warehouse health pulse system that will measure key metrics based on various location parameters pertaining to workforce productivity, material handling equipment, inventory statuses and more.
We are building an invention that will transform supply chain and logistics visibility and efficiency worldwide. We are digitalizing warehouses where data can be consumed and analyzed via a single smart dashboard remotely anytime. This data intelligence is crucial in improving the overall warehouse productivity and efficiency. I'm confident that this brings more than just return on investment for the global logistics industry in the long term.
With HERE Asset Tracking, businesses can enjoy improved real-time visibility that tracks the location, status, and condition of their warehouse assets anywhere, anytime. Warehouse Operators are now able to remotely monitor manpower productivity levels within warehouses, and track movements of assets and material handling equipment both outdoors and indoors via already available networks. The HERE Map Making platform also allows businesses to customize and maintain warehouse digital layouts (virtual representations) that will help them improve overall logistics planning and reduce operational costs.
By feeding the real-time and historical data provided by the collaboration into an artificial intelligence (AI) powered data analytics dashboard, businesses will be presented with a central, customizable visualization of their warehouse operations.
The Asia Pacific logistics sector is showing no signs of slowing down due to digital transformation and exponential growth in the supply chain and e-commerce industries. Yet the cost for expansion continues to be one of the top barriers for Asia Pacific's logistics sector as they enter expansion mode. Through this exciting partnership with Yojee, we look forward to providing businesses with substantial opportunities to unlock major improvements and capture value in global warehousing.
I'm confident that this brings more than just return on investment for the global logistics industry in the long term.