With emerging technology and more logistics options, companies must focus on innovation and the ways in which they can help themselves stand out from an increasingly crowded field. Building a strong rapport with their existing customers may be one key area where this can be achieved. That, in turn, can aid any logistics firm get ahead by both helping them attract and retain business on an ongoing basis.
Given the way technology in the logistics industry is evolving and becoming more broadly available, it may behoove any firm to approach any new offering with an "early adopter" attitude, according to Logistics Management. Mike Walsh, CEO of the global consultancy firm Tomorrow, recently told attendees at the SMC3 Connections conference that the ability to successfully examine and integrate new tech options is vital to staying ahead of trends in an industry in which the ability to make the supply chain move more efficiently is vital to long-term success.
"One thing for certain we can say is that if you want to understand in the world of business what the next big transformative shift is in the way the world works," Walsh said in his keynote address. "I absolutely believe it will be shaped by these Cloud-enabled AI data experiences that are occurring and becoming the new baseline for expectations for younger people. It has to do with how companies expect companies to deal with them as consumers, how they expect to work with organizations, and how they expect you to deal with them as clients."
Connecting with everybody
Another emerging truth in the industry is that when it comes to establishing the most efficient supply chain possible, companies need to not only focus on the technology, but everyone who interacts with that supply chain, Logistics Management further noted. That means everyone from suppliers and their own employees to trucking firms and the people to whom these items are being shipped. To that end, it's vital that companies also take stock of what people expect from logistics companies when it comes to shipping turnaround times. Doing so can help to inform better decisions about the best possible ways to achieve those goals.
Reaching more people quickly
As a consequence of customer or client expectations – both today's and tomorrow's – Logistics Management noted that it seems many logistics firms are looking for new ways to expand their reach to reduce shipping times. The industry-wide trend here seems to be expansion into smaller markets. In a lot of major cities, there just isn't as much warehouse space as there used to be, thanks to the massive demand e-commerce has placed on development. As such, companies are moving into smaller cities as well, in hopes of both meeting their ever-growing needs and getting deliveries to customers as quickly as possible.
The ability of any logistics company to look at their own needs when it comes to ERP or warehouse management systems, and see how the latest technology can interact with or improve upon their current performance, will be crucial when it comes to meeting every goal they set.