{"id":7083,"date":"2020-09-09T22:23:40","date_gmt":"2020-09-09T22:23:40","guid":{"rendered":"https:\/\/corporate.nvisionglobal.com\/?p=7083"},"modified":"2023-11-01T08:26:23","modified_gmt":"2023-11-01T08:26:23","slug":"4-ways-digital-logistics-tools-are-driving-triple-bottom-line-profits","status":"publish","type":"post","link":"https:\/\/corporate.nvisionglobal.com\/4-ways-digital-logistics-tools-are-driving-triple-bottom-line-profits\/","title":{"rendered":"4 Ways Digital Logistics Tools are Driving Triple Bottom Line Profits"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:var(--awb-color3);border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-1\"><p><img decoding=\"async\" class=\"aligncenter size-large wp-image-7086\" src=\"https:\/\/corporate.nvisionglobal.com\/wp-content\/uploads\/2020\/09\/shutterstock_1349129198-1024x385.jpg\" alt=\"triple bottom line profit\" width=\"710\" height=\"420\" \/><\/p>\n<p>The phrase \u2018triple bottom line\u2019 was coined back in 1994 by author and business advisor John Elkington. Since then, companies from every sector, big and small, have adopted and employed it. Nowhere has the concept of the triple bottom line thrived like in the logistics industry, however &#8211; today, more than ever. The complexities and nuances of an evolving global supply network have made focusing on the bottom line of paramount importance. And it\u2019s not just about profits.<\/p>\n<h2>The Triple Bottom Line<\/h2>\n<p>In defining the triple bottom line, Elkington argued for three main drivers of corporate value: economic drivers, social catalysts, and environmental initiatives. He believes that the three Ps \u2014 people, planet, profits &#8211; must coexist with synergy, and when they do, they\u2019ll drive sustainable growth for companies. To drive this growth, companies need to make equal investments in each. For example:<\/p>\n<ul>\n<li style=\"margin-bottom: 1em;\"><strong>Planet: <\/strong>Apple uses low-carbon materials for its products, reducing environmental impact.<\/li>\n<li style=\"margin-bottom: 1em;\"><strong>People: <\/strong>3M makes large contributions to STEM (science, technology, engineering, and mathematics) programs to improve education.<\/li>\n<li><strong>Profits:<\/strong> Toyota\u2019s approach to lean manufacturing places emphasis on profits.<\/li>\n<\/ul>\n<p>Each example shows a specific focus on a bottom-line driver, which folds into enhanced triple bottom-line profits over time.<\/p>\n<h2>How Technology is Driving the Triple Bottom Line?<\/h2>\n<p>Like any business, freight and logistics companies have access to the triple bottom line, given the right technologies to pursue efficiency. <a href=\"https:\/\/corporate.nvisionglobal.com\/iot-supply-chain\/\" target=\"_blank\" rel=\"noopener\">Digitizing supply chains<\/a> quantifies them, which is the first step in delineating opportunities for bottom-line savings. Here\u2019s a look at four technologies and how they contribute to triple bottom-line profits.<\/p>\n<ol class=\"margin\">\n<li style=\"margin-bottom: 1em;\"><strong>Real-time business logistics tools.<\/strong> Real-time logistics tools can do for freight what Toyota\u2019s lean manufacturing principles did for producers. Real-time oversight enables practical decision-making that leads to bottom-line profits. It\u2019s already a proven practice for some of the world\u2019s largest carriers.<\/li>\n<li style=\"margin-bottom: 1em;\"><strong>Transportation management.<\/strong> Smarter transportation management software (TMS) enables people and profits by affording freight companies powerful control over key shipping variables. From selecting transport options to tracking points of custody, a new-age TMS drives efficiency, which drives bottom-line benefits.<\/li>\n<li style=\"margin-bottom: 1em;\"><strong>Contract management.<\/strong> We\u2019ve already begun seeing blockchain contracts within the freight industry, and the future is rife with them. The security and decentralized nature of blockchain contracts enable better contract management with real benefits for people and profitability.<\/li>\n<li><strong>Emissions tracking.<\/strong> Logistics emissions are a constant source of cost and an area rife for bottom-line savings across air, land, and sea. <a href=\"https:\/\/www.weforum.org\/agenda\/2020\/01\/heres-how-the-logistics-sector-can-become-emission-free\/\" target=\"_blank\" rel=\"noopener noreferrer\">Zero emissions may seem pragmatic<\/a>, but it may be possible using emissions tracking technologies. The upfront cost may be higher, but the long-term savings make it justifiable.<\/li>\n<\/ol>\n<p>The culmination of these technologies represents a digital force for change within the freight and logistics industry. And while top-line growth continues to be an exciting prospect in an ever-globalizing world, these technologies bring much-needed profit opportunities to the bottom line. More importantly, they enable triple bottom-line profits like never before.<\/p>\n<h2>Bottom-Line Profits Are a Competitive Advantage<\/h2>\n<p>Technology has always been the answer to innovation, which has allowed companies to become more profitable on the top line and more efficient (read: profitable) at the bottom line. Now, a brand-new crop of digital technology is available to companies across the supply chain.<\/p>\n<p>Harnessing the power of the digital supply chain is how companies can tap into the benefits of triple bottom-line improvements. Without them, businesses lose a competitive advantage and the ability to generate positive returns on smart investments for the future.<\/p>\n<div class=\"cta\" style=\"background-color: #eaeaea; border: 1px solid #ccc; border-left: 5px solid #1B4381; clear: both; padding: 1em; margin: 1em 0 1em 0;\">The pursuit of triple bottom-line dominance is important for every company involved in the supply chain, but especially for logistics partners. Digital tools are essential, and they deliver the insights necessary for action and improvement that benefit the bottom line -X whether social, economic, or environmental. nVision Global provides these tools and the means to achieve triple bottom-line growth. To learn more, visit our website at <a class=\"logonvlink\" href=\"http:\/\/www.nvisionglobal.com\" target=\"_blank\" rel=\"noopener noreferrer\">nvisionglobal.com<\/a>.<\/div>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":59,"featured_media":18767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-supply-chain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>4 Ways Digital Logistics Tools are Driving Triple Bottom Line Profits - nVision Global | Worldwide Supply Chain Solutions, Specializing in Global Freight Audit &amp; Payment, Loss &amp; Damage Claims, Supply Chain Services &amp; Technology<\/title>\n<meta name=\"description\" content=\"Logistics companies are always looking for the competitive edge \u00d4\u00c7\u00f6 something that results in major top-line growth. 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