Where do Freight Forwarders Invest to Weather the Next Five Years?

In our previous blog post of How Shippers Can Reduce Transportation Costs we briefly touched upon how much of an impact the right technology can have for a business. Both shippers and carriers can benefit from process automation, control of carrier selection, optimization of rates and transit times, visibility in the entire logistics program and compliance – just to mention a few.

A The Evolving Freight Forwarding Market report conducted by The Elite-League and Logistics Trends & Insights LLC, in March surveyed logistics professionals asking what their strategy was to differentiate themselves from their competition. It doesn’t come as much of a surprise by 47.01% of the companies interviewed that say it’s their investment in new technology that is helping to set them a part from other companies in what is an otherwise fragmented market. In addition to new technology, other strategies included introduction of new services and new trade lines (39%); mergers and acquisitions (10%) and only 3% had an undefined method.

Freigh Forwards Info Graphic 1

                               Source: The Evolving Freight Forwarding Market report

What Technology will be the Most Vital?

From the survey, we saw that 39% of the companies were looking for new technology to improve operational efficiencies and 30% to improve customer service. Conversely, 25% of the respondents said that visibility was the most important area where they expected technology to return their investments. However, several survey respondents indicated investments are being made to increase flexibility. 

Best Practice for Implementing new Technology

Although the advancement of cloud based solutions has significantly reduced the time and efforts of introducing a new technology into a supply chain, the process is still considerably more involved than plug ‘n play. It is a massive undertaking that needs to be managed carefully, otherwise it can have a negative impact that is both financial and collateral when it comes to operations management and customer service. To help ease the transition of technology integration, we’ve partnered with ERP Integrated Solutions to show businesses how they can save both time and money by utilizing their new technology platform to help make their business more efficient.

BlueGrace® Logistics offers innovative logistics technology to companies across the nation and around the globe. We are constantly updating our logistics and transportation management technology, adding new benefits, and continuing to meet the business needs of our customers. Our goal is to alleviate additional cost and liability associated with their business’ transportation needs.

 

 

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