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The Evolving Landscape of Final Mile Delivery

As the owner or manager of a business that ships goods to customers, you are likely aware of the pivotal role that dependable delivery services play in your operations. Selecting an efficient final mile delivery provider can be the difference between highly satisfied repeat customers…

The post Blog first appeared on Ottawa Logistics.

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The Evolving Landscape of Final Mile Delivery

As the owner or manager of a business that ships goods to customers, you are likely aware of the pivotal role that dependable delivery services play in your operations. Selecting an efficient final mile delivery provider can be the difference between highly satisfied repeat customers and customers who abandon your business after a single botched or delayed delivery. Below is a look at the evolving landscape of final mile delivery and the critical role that final mile delivery plays for today’s businesses.

What is Final Mile Delivery?

“The Final Mile is the last delivery in the supply chain.  It’s about getting things from the manufacturer into the hands of the customer.  For example, from the pharmaceutical manufacturer to the pharmacy to the person who needs his meds.”

– Kirk Godby, Managing Partner of Flexible WorkForce

  Past President of the Customized Delivery and Logistics Association

Also known as last mile delivery or last mile logistics, final mile delivery is the last part of the shipping journey. It entails the delivery of a package to the customer’s door and is the most costly part of the shipping process.

What Factors Contribute to the Growth of Final Mile Delivery? 

“B2C e-commerce is expected to generate $3.2 trillion in revenue by 2020 while the B2B e-commerce market is expected to be twice that size. In terms of transport revenue, global B2C e-commerce produced $85 billion in 2015, and is expected to grow by 15% annual compound rate by 2019.”

– John D. Schulz, SupplyChain 24/7

There are two key factors driving the evolution of final mile delivery services: the growth in the global e-commerce industry and consumer desire to manage their own orders. With experts projecting B2C e-commerce to generate $3.2 trillion in revenue by 2020, a growing number of consumers will develop expertise in choosing their shipping carriers and tracking the status of their orders.

How Has the Landscape for Final Mile Delivery Evolved?

Final mile delivery has evolved in tandem with growth in the e-commerce industry. A growing number of consumers are playing an active role in their product deliveries, which has prompted the evolution of final mile delivery. Deborah Adams Kaplan of Supply Chain Dive outlines the following trends in last mile delivery:

1) Higher Expectations for Speedy Service

Quick final mile delivery times are helping businesses gain an edge over competitors who place less emphasis on speedy service. Over 80% of consumers feel that “fast” shipping is delivery that occurs in two days or less, highlighting the need for shipping efficiency.

2) Heightened Demand for Shipment Visibility

As consumers become more comfortable managing their own orders, their desire for regular delivery status updates will increase. Order tracking is a top priority for consumers, who now expect to know exactly where their order is located at all times.

3) Carriers are Becoming Upsellers

In the past, carriers focused exclusively on delivering a purchased product to the consumer. Some of today’s carriers are also helping to bolster sales revenue by keeping their trucks stocked with a variety of related products that shoppers might be interested in purchasing when their order is delivered.

What is the Role of Technology in Final Mile Delivery?

“Changing customer trends and innovations catalyzed by today’s nascent technology are shaping the next-generation supply chain. Customers will expect immediacy, personalization, and convenience; new technology and advanced analytics will be the enablers.”

– A.T. Kearney, 28th Annual State of Logistics Report

Technology plays a key role in creating a positive customer experience by enhancing the delivery process. Here are a few ways that technology comes into play with final mile delivery:

  • Technology allows customers to receive status updates via email, text, or phone
  • Mobile technology enables customers to track their orders and see real-time data on their shipments
  • Technology is being used to track final mile delivery teams’ adherence to goals and KPIs

If your business does not select a carrier that remains abreast of technological developments in last mile technology, you run the risk of losing traction to those that take advantage of the latest advancements.

Why is Final Mile Delivery Important to Your Business?

“There is an art and a science to successful Final Mile delivery.  Like same-day, Final Mile involves timeliness, speed, accuracy and precision.  Fast and efficient Final Mile gives consumers what they want and shippers a way to measure up to increasingly demanding buyer expectations.”

– Andrea Obston, Director of Public Relations

 Customized Logistics and Delivery Association

delivery man completing final mile delivery

Customer expectations are higher than ever. For instance, over 43% of consumers expect 24/7 support from online businesses and most customers expect premium delivery services or free shipping on their orders. Failure to respond to the evolving demands of consumers can cause customers to abandon your business in favor of one that will meet their demands for accuracy, speed, and precision. By selecting a carrier with a focus on final mile delivery, you can help bring the following to your business:

  • Higher levels of customer satisfaction
  • More repeat business
  • Increased referrals

What Does the Future Hold for Final Mile Delivery?

“Robot delivery is already being tested in San Francisco for Yelp Eat24, using a Marble robot on city sidewalks…McKinsey envisions a future where autonomous vehicles and drones will deliver 78% of all items, with traditional delivery accounting for only 20% and another 2% by bike couriers.”

 Deborah Adams Kaplan, Supply Chain Dive 

In fact, some experts estimate that 80% of all items will be delivered by robots or “delivery bots”. This technology is currently being piloted in California and Zion Market Research estimates that the delivery bot industry will grow to $12 billion by 2024.

Current delivery bots are equipped with six wheels to allow them to navigate uneven sidewalks and curbs. They also feature weather-resistant technology and infrared cameras to promote nighttime navigation.

The Bottom Line

As the last phase of the supply chain process, final mile delivery plays a key role in bolstering customer satisfaction. Recent technological advances with final mile delivery now enable customers to enjoy real-time updates on their shipments and to request their preferred time of delivery. As the e-commerce industry continues to grow, final mile delivery is expected to reach new heights over the next decade.

To learn more about final mile delivery, please contact the logistics specialists with Final Mile Ottawa, a division of Ottawa Logistics. You can reach us by email at info@ottawalogistics.com or by phone at 855-547-1527. We look forward to hearing from you!

Source: https://www.ottawalogistics.com/product-distribution/the-evolving-landscape-of-final-mile-delivery/

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U.S. Homeland Security Signs $1.36M Contract with Coinbase

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In brief

Coinbase will provide the Immigrations and Customs Enforcement branch with blockchain analytics software.
The crypto exchange has also provided software to the U.S. Secret Service and Inland Revenue.

The Immigration and Customs Enforcement branch of the U.S. Homeland Security has given a $1.36 million contract to crypto exchange giant Coinbase for “business application” and “application development software”, according to the Federal Procurement Data System.

The new deal is Coinbase’s largest federal contract yet. The deal was signed on Thursday and is worth around forty times more than Coinbase’s last contract with the Homeland Security branch. 

Back on August 9 this year, the ICE paid Coinbase $29,000 for forensics software. According to a document dated August 3, the contract was given to Coinbase on the basis that the company is “the only vendor who can reasonably provide the services required by the agency.”

Details as to exactly what the ICE wants Coinbase software for are scarce. The same document later states, “This requirement is LAW ENFORCEMENT SENITIVE[sic], therefore minimal information will be provided publicly.”

ICE is not the first government agency to request Coinbase’s services. Last year, Coinbase announced its desire to sell analytics tools to two U.S. government branches: the Drug Enforcement Agency and the Inland Revenue Service. 

The IRS said that it could use several analytics tools to help catch blockchain-savvy tax dodgers, including “Coinbase Analytics”, formerly known as Neutrino. Coinbase acquired Neutrino back in 2019 for $13.5 million.

It was a controversial acquisition at the time since Neutrino members had been linked to an Italian organization called Hacking Team, which sold spyware to authoritarian regimes in Saudi Arabia, Sudan and Venezuela.

Coinbase CEO Brian Armstrong later expressed his regret towards the purchase and sacked the more dubious members of the team. Coinbase later sourced analytics software deals with both the Secret Service and the IRS

Coinbase is now inking million-dollar deals with the federal government. Move over Chainalysis: the U.S. government may have a new favorite blockchain company.

Source: https://decrypt.co/81263/u-s-homeland-security-signs-1-36m-contract-with-coinbase

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Solana’s DeFi Projects are Raising Millions of Dollars

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Solana may be up 122% in the past month, but its rise has begun to slow down. As the blockchain secures its place in the top 10 by market cap, investors in the nascent low fee, high-speed blockchain are turning their attention to something else: Solana’s decentralized finance protocols.

In the past week, investment in some Solana-based DeFi protocols came so thick and fast that the blockchain couldn’t handle all the attention. Solana crashed for 17 hours on Tuesday after bots rushed to invest in a token sale for Grape Protocol. 

But what are these new projects, how much have they raised, and who’s funding them? We take a look: here’s our roundup of some of the biggest protocols that are capping off a heady and hot Solana Summer, and a glance at those yet to come. 

Big IDOs

First is Grape Protocol, the culprit of the outage, which despite all the upset raised only $600,000 during its public raise on Raydium’s “Acceleraytor”. 

Grape Network hooks up to platforms like Discord, Telegram and (soon) Twitter to help decentralized communities coordinate over Solana and reward their members with cryptocurrencies. It’s all powered by the protocol’s token, GRAPE.

Next up is Parrot Protocol, which raised $69 million in an Initial DEX Offering from investors including Sino Global Capital, Alameda Research, and QTUM VC. Parrot’s a non-custodial lending platform and decentralized exchange—similar to the Maker protocol on Ethereum.

Parrot’s partly backed by PAI, an algorithmic stablecoin. In its IDO, however, Parrot sold a governance token called PRT. It’ll allow investors to vote on how the protocol is run and farm for yields on Solana without taking money out of yield farms on other Layer 1 blockchains

Parrot’s IDO slowed to a halt due to Solana’s outage but all was wrapped up by September 16. In a “Letter from the Parrot” this morning, the team said it’ll commence work on PRT staking, NFTs and adjustable interest rates. 

Many more projects are set to launch within the next few days on Solana launchpads like Solanium, Boca Chica, and Solstarter. Today, the sale for whitelisted users for MatrixETF, a decentralized ETF platform, began on Solanium. 

On September 16, a lending protocol called Larix launched on Solana. From September 15 through September 17, the total value locked in Larix rocketed from $1.7 million to $119 million. Solana, Huobi Global and Polygon are among investors.

Flippies, a sold-out NFT penguin collection, also launched on Solanium and will be distributed on September 21. Contrastive, a generative AI art series on the Solana blockchain is set to launch in two days

With the breakneck speed at which Solana continues to grow, the network’s ability to sustain all these diverse projects will be a good way to determine their success.

Source: https://decrypt.co/81262/solanas-defi-projects-are-raising-millions-of-dollars

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Maxim Magazine Launches NFT Marketplace With xSigma

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A partnership between Maxim and xSigma has birthed a new non-fungible token (NFT) marketplace. 

Sponsored
Sponsored

MaximNFT is a new platform launched from a partnership between xSigma and Maxim Magazine. The marketplace is said to grant exclusive access to Maxim’s NFT collections. xSigma, a blockchain R&D laboratory, is a subsidiary of ZK International (Nasdaq: ZKIN). The lab has been developing its own DeFi, NFT, and stablecoin based products. Meanwhile, Maxim magazine is celebrating 25 years in the business and is now available in 75 countries across the globe. The magazine is geared towards younger men and focuses on cars, fashion, lifestyle, and women. It is considered the “safe for work” version of magazines like Playboy. Previous cover models include Angelina Jolie, Christina Aguilera, and Megan Fox. 

The goal of the NFT marketplace is to combine the clout that Maxim’s brand name has with the research and development capabilities of xSigma’s lab. The MaximNFT marketplace will give users the option to buy, sell and mint NFTs that utilize multiple blockchains including Ethereum, Polkadot, and the Binance Smart Chain. 

Sponsored
Sponsored

Using the power of its 10 million monthly readers, MaximNFT is looking to attract a large base of creators and traders via print, social media, and digital publishing efforts. Behind the scenes, xSigma will be adding in features to include “NFT tokenization,” which will allow traders to sell fractional ownership of their NFTs. This will allow for these unique assets to be broken apart and shared with the cryptocurrency community in what the MaximNFT hopes will be a step to change the industry. 

Maxim NFTs will focus on sports and pop culture

Maxim plans to focus its attention on “sports and celebrities’ collectibles, as well as gaming content.” So far, just one of these collaborations has been confirmed. In a post to Twitter on Sept. 2, MaximNFT announced it had teamed up with former NBA star Michael Beasley. In a post on Instagram, Beasley confirmed that his NFTs will be sold exclusively on MaximNFT starting in November. Unless something else happens first, they will become the first NFTs sold on the platform. 

The press release also stated that the company is confident the rise of gaming and the incorporation of NFTs in the metaverse will continue to grow. MaximNFT also plans to combine the NFT’s minted with AR and VR technology. 

The announcement states that MaximNFT will be going live in Q4 2021 with “a series of NFTs from celebrities, athletes, and brands.”

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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Source: https://beincrypto.com/maxim-launches-nft-marketplace-with-xsigma/

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