Just like the financial services industry, the transportation and logistics industry uses a combination of paper and electronic (EDI) messages in day-to-day operations. As a result, the industry has been plagued by issues involving dispute resolution, administrative inefficiencies, and order tracking for decades. Let's explore some of these issues:
- Every day, there are billions of dollars (https://www.fleetowner.com/electronic-security/blockchain-trucking-what-about-middlemen) tied up in disputes over payments. On average, a company has to wait 42 days before receiving payment on an outstanding invoice.
- Processing and administration costs have risen to around one-fifth of the overall costs of the transportation ...
