Data-driven Strategies for Reducing Shipper Fallout in Changing Trade Environments
DOI:
https://doi.org/10.36676/j.sust.sol.v1.i4.49Keywords:
Data-driven Strategies, Shipper Fallout, Trade EnvironmentsAbstract
Global trade environments are complex and constantly changing, creating significant challenges for the actual shippers and leading to what has been called “shipper fallout”, which means that the shippers experience disruptions, inefficiencies or fail to meet what is required in trading. This review paper discusses data-driven approaches as the way to solve the problem of shippers’ churn, stressing on flexibility of such solution in the conditions of shifts in trade environments. Thus, by adopting big data analytics to analyze historical data, and developing optimized predictive models, as well as monitoring executive systems, Christopher, M., & Peck, H. (2004) companies can increase the effectiveness of their decisions, supply chain robustness, and lower the likelihood of fallout. This paper also measures the primary obstacles, that are the data integration, data security and the legal demands, as well as future works on this subject.
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