Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents.
A P Moeller-Maersk A/S and other container shipping lines have teamed up with technology companies to upgrade the world’s most complex logistics network.
To make it work, dozens of shipping lines and thousands of related businesses around the world -- including manufacturers, banks, insurers, brokers and port authorities -- will have to work out a protocol that can integrate all the new systems onto one vast platform.
Should they succeed, documentation that takes days will eventually be done in minutes.The cost of moving goods across continents could drop dramatically, adding fresh impetus to relocate manufacturing or source materials and goods from overseas