Predictions for Third-Party Logistics for 2020
The landscape of third-party logistics is evolving significantly. The specific industry has been the slowest in terms of adopting technological advancements. However, there is some degree of advancements that the companies are enjoying today. In the coming five years, the industry of trucking and logistics is expected to grow by 15% with the help of technology.
Here is a list of predictions for the year 2020 about the third-party logistics industry that will become common within the majority of the companies.
Use of Mobile Applications
The year 2020 will mark the end of manual record-keeping in the trucking industry. The industry will focus on agility through mobility. It will help companies take freight shipment orders all around the clock. Almost all 3PL businesses will incorporate mobile technology within their operations by the end of next year.
Embracing Big Data and Information Sharing
In addition to mobile technology, the businesses in this industry will begin adopting cloud-based technology. The companies will embrace big data, which will enhance their productivity and efficiency. It will increase the degree of transparency that will allow the clients to serve seasonal trends efficiently. Easy sharing of data will help both the 3PL companies and clients to track items throughout the supply chain.
Automation of Workflow
The companies will work to automate their workflow to provide their clients with a nonpareil quality of services. By using advanced sensors, third-party logistics companies will build self-counting inventories. The GPS technology in the pallets will allow self-reporting delivery errors during transit.
Third-party logistics and trucking companies will incorporate superuser system access and management. It will help employers manage the staff efficiently. It will reduce the stress over the employees to overlook the performance of all the staff members.
3PL businesses will be able to work on a global scale. The globalization of the industry will make the supply chains complex; on the other hand, it will increase their growth dramatically!
As the 3PL and trucking industry is subject to a continuous increase, the companies such as Titan, will keep on evolving. These are the top five predictions that the industry will live through in the year 2020!