Going digital has been the mantra for different businesses since the ongoing pandemic has hit the overall operations dynamically. Traditional methods of operating a business are proving to be at a standstill and the need for innovation in every industry has arrived. It’s not that innovation was not happening earlier, or the companies were not adapting digitization. Before, the reason for going digital was mostly making the processes efficient and cost-effective, but now it is more than just saving money and time.
Adapting digital resources has now become paramount to stay ahead of the curve and most importantly stay relevant in the dynamic business environment. One such company preaching about adapting digital transformation in the logistics space is Arviem. The company’s CEO, Stefan Reidy has shared some of his insights about how the logistics space has evolved through the answers given below:
- (For Stefan) According to you, why is adapting digital transformation necessary? How could it be beneficial to the business?
According to Stefan, all the industries including supply chain and logistics are on brink of digital transformation. Few of the companies are still supervising their operations by resource and time-intensive administrative processes using traditional methods such as telephone, email communication, and excel sheets. On the other hand, some are digitalizing and automating their operations by leveraging latest technologies, having information available at their fingertips. Along with this, other factors are pushing companies to re-evaluate their networks designing the processes of the future that are leaner and more efficient.
Therefore, a well-versed entrepreneur believes that new technologies such as connected devices, networks of things, Big Data, machine learning, and artificial intelligence are changing the way businesses and supply chains operate today. These technologies not only bring additional benefits to businesses through automation, process optimization or elimination of inefficiencies but also enable them to build new business models to solve the glitches of today and the issues of the future.
- How is your company contributing in the ever-evolving logistics and SCM sector?
Arviem believes that IoT devices are the interface between the digital and physical world, they are vital for supply chain digitalization, automation, optimization, and modernization. The data gathered from IoT devices creates transparency and visibility that sets the foundation for the growth of the supply chain and logistics industry along with its transformation. Stefan foresees about the future of supply chain and logistics chains which will be data-driven, ‘smart’ with inherently better supply chain performance and better risk management. So, the CEO along with his team is supporting the industry and their clients on the journey of this transformation.
Today’s supply chain industry is facing complex challenges along with known vulnerabilities and inefficiencies. Some of the pain points of shippers and cargo owners are cargo security, transparency, and visibility into the movement of their goods within their global manufacturing network and supply chains. To conquer these pain points, Arviem offers a solution that addresses these issues and enhances the overall operations.
- How do you sustain in the current unpredictable markets and hectic competition?
The global supply chain is like an engine running at full capacity, so much so that even the slightest jolt could break it. Uncertain times such as current COVID-19 situation is a bit more than a slight jolt – no one has any experience of so many parts of the business not working. In such a situation, no wonder supply chains have collapsed. However, only with the right visibility in supply chain will businesses have the information they need to make decisions early enough – issues will no longer cause significant disruption, as data will allow contingencies to be deployed early in the process. The current crisis significantly reinforces the longterm value of Arviem’s business model. While some of the companies are badly affected by the prevailing uncertain times. Others begin to look at how they can modernize their supply chain and protect them from future disruptions. This strengthens Arviem’s business model and provides more business opportunities.
With regards to hectic competition: Unlike its competitors, Arviem is offering a full, carefree service to customers that allows them it to track all their global shipments, regardless of the transportation mode or the logistics service provider, on one single platform. Arviem’s services provide a holistic view on all shipments, the information is displayed on an appealing user interface and can be accessed through various channels. Our service ecosystem that we offer on top of the cargo monitoring data sets us apart from the competition.
We at Arviem, are at the forefront of the Internet of Things revolution. As IoT devices are the interface between digital and physical world, they are essential for supply chain digitalization, automation, optimization, and modernization. We realised the importance of high quality and reliable data. As we found the performance of most of the commercially available devices unsatisfactory, we decided to develop our monitoring devices in house. Using our own devices makes our service one of the best performing ones on the market.
- How does your company upgrade itself with the volatile technological changes in order to boost company’s growth?
In the volatile supply chain market, some companies are eager to enhance their operations and processes by leveraging innovative, technology-enabled services while others are still looking at the supply and logistics chain as a cost center and are immune to change and reluctant to try something new. As a supply chain solution provider, Arviem faces the challenge to deliver the best of breed solutions for its clients that allow them to stay relevant with the industry trends. For industry players to change their business mindset and to embrace IoT’s full potential, they still need to be educated on the business benefits of new technologies. And now, the supply chain solution providing company is aiming to exhibit the business value of IoT enabled supply chain visibility and its vast optimization potential for the entire organization.
- Give a brief detail on the company’s inception and journey it has experienced.
Seeing the inefficiencies in global supply chains, the arising security issues after 9/11 and the lack of visibility and control supply chain professionals had over the movement of goods globally, we realized that with the emerging new technologies it is possible to improve the status quo and bring transparency into how supply chains operate.
Arviem has been on the market for over 10 years and successfully monitoring and protecting cargo globally. During these years we learned the importance of exceptional quality data.
For this 100% reliable IoT sensory devices are necessary. We decided to develop these devices in house as we could not find other reliable devices on the market. Using our own devices ensures that we offer our clients a reliable and independent cargo tracking and monitoring service.
Moving forward Arviem is working towards building a service portfolio to support our vision of becoming a ‘one-stop-shop’ for services for optimizing various aspects of the supply chain. Having the collected cargo monitoring data in the core of our new service offering, we have already developed new services that rely on the data hidden in supply chains.
- How does your company entice its target audience through its cutting-edge solutions?
Arviem offers IoT enabled supply chain visibility services by monitoring the location and condition of goods in transit in real-time with sophisticated sensor devices. Thanks to Arviem’s services, clients know where their cargo is in any given moment, the environmental conditions it is exposed to and if its security has been breached. If disruptions arise (cargo experiences shocks, unfavourable temperature or humidity conditions, an intrusion or door opening, or an unexpected transhipment is detected) clients are notified immediately so they can take corrective action. Besides real-time event notifications and alerts, supply chain professionals can also rely on Arviem’s cargo monitoring platform to manage their goods in transit. Arviem’s monitoring platform provides an overview of all shipments in an easy to use, visual, user friendly management dashboard making it possible to access any information of the cargo’s journey at fingertips.
While our IoT based services help clients to digitalize parts of their supply chain without the need for investing into new technologies, hardware or staff, our scalable, pay-per use service offers a possibility of a quick ROI by reducing costs and enhancing efficiency. Arviem’s service works alongside legacy systems, the data can be accessed through a cloud-based platform or it can be integrated with clients’ systems via an API.
- Describe your approach on attracting your target audiences for their better experience.
Arviem’s IoT enabled supply chain visibility service helps clients to optimize their physical and financial supply chains by monitoring the flow of goods in-transit in realtime. The vast amount of data and management reports generated by Arviem enable supply chain professionals to optimize their supply chains, improve their working capital management, reduce transport insurance premiums, administrative costs as well as to ensure product safety and product quality during transit. Arviem’s IoT based services help clients to digitalize parts of their supply chain without the need for investing into new technologies, hardware, or staff. Moreover, the reverse logistics (making device available at clients’ location and managing the device pick up from destination) is handled by Arviem’s operations team thus, clients need not spend time, cost and resources on device logistics and have hassle free monitoring solution in place.
About the Leader
Stefan Reidy is the CEO and founder of Arviem, he is a supply chain enthusiast and a visionary. Stefan has over 20 years of experience with innovative technologies and business models in the supply chain which he gathered both by working for corporations and in the start-up environment.
Before founding Arviem, Stefan was responsible for IBM’s Secure Trade Lane Solution, developing innovative solutions with the goal to improve security in international trade. Stefan’s passion and industry expertise has been important for Arviem’s development ever since. Stefan often shares his knowledge with university students and industry professionals periodically at various events.