How Tech is Helping Firms Manage Logistics, Compliance Risk
By Timothy Donaghy
JOC.com, April 25, 2018
The transportation and logistics industry is heavily regulated, with myriad federal, state, local and international laws on the books whose terms are directly reflected in the contracts that exist between companies in this space and their suppliers, employees, contractors, and customers.
This poses a considerable compliance burden, as well as legal, financial and public relations risk that is associated with being out of compliance – or in material breach – of any of the commitments within any of those contracts. But technology can, and is, helping forward-thinking organizations in this arena mitigate much of this risk through active management of contract performance by ensuring obligations are met.
Avoiding Missed Deadlines
Secure, centralized electronic contract repositories are at the heart of today’s automated contract management software platforms. This technology ensures that staff at transportation and logistics companies are automatically alerted well in advance of important contractual obligations and provides precise information on the key deliverables and interdependencies within your contracts.