How FarEye's Flagship Solution Helps E-commerce Companies?
FarEye, a digital logistics platform that efficiently moves goods, launches a flagship solution to help the e-commerce companies' scale their deliveries. It is a highly scalable enterprise-grade logistics solution that empowers businesses to manage peak delivery volumes. It also assists in arranging varied logistic platforms like ERP, TMS, WMS, 3PL systems and more, without a glitch. This arrangement improves the control and visibility of logistics operations.
FarEye provides real-time updates on the goods' transport status to the enterprises, such as goods arrival details along with its condition. The logistic platform's predictive intelligence and machine learning capabilities help the businesses tackle the uncertainties and delays to ensure the superior customer experience. During peak business days, FarEye utilizes crowdsourcing to outsource the delivery jobs to third-parties. This process improves the overall productivity of the company, as the productivity of the delivery executives increases. Also, it optimizes the delivery routes to ensure multiple deliveries per trip.
The present scenario of increasing online shopping is also one of the key factors for spike delivery attempts. According to sources, for every 100 deliveries, a delivery boy would visit the customer's location for about 140 - 150 times, this significantly reduces profitability per delivery.
FarEye, through its machine learning algorithms, locates the correct address by analyzing historical data and geocodes customer locations to boost address accuracy. This, in turn, improves first-attempt success rates. Besides, its latest delivery models such as locker, parcel and retail store add to stimulate faster deliveries for eCommerce businesses.
"Festive seasons are known to trigger spikes in demand for online deliveries. That's just one part of the story. Festive seasons pose great opportunities for eCommerce businesses to introduce innovative ways to scale delivery operations, engage new customers and leverage disruptive technologies like machine learning, automation, IoT, among others to make deliveries more profitable and compliant," says Kushal Nahata, CEO of FarEye.
He further adds, "Inaccurate customer address remains a critical logistics problem for many countries, and it's a major reason that fuels the need for multiple delivery attempts. Businesses need to leverage advanced logistics platform that quickly learns a customer's exact delivery location based on previous delivery failures or success."