LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest list blog on the top trends in the logistics industry for the year 2018.
The logistics industry is the backbone of industries like e-commerce retail, healthcare, and FMCG. Such sectors are highly dependent on the logistics industry to move their products globally to improve customer satisfaction. Growing consumerism is influencing the logistics industry to provide higher performance and offer services such as overnight shipping. In this blog post, we’ll take you through the top trends in the logistics industry for the year 2018.
According to the logistics industry experts at Infiniti, “The logistics industry has adopted a multitude of new technologies to help them reduce costs and cut wastages.”
View the complete list of the top trends in the logistics industry for the year 2018 from Infiniti
Infiniti Research is a global market intelligence company presenting market insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the top trends in the logistics industry for the year 2018.
Top trends in the logistics industry for the year 2018
- Blockchain: Currently, blockchain technology has made numerous headlines due to the growing popularity of the cryptocurrency Bitcoin. However, the technology has many applications due the security and clarity it offers. In the logistics industry, where the product goes through a sequence of custody handovers and transactions to reach its final destination, it is essential to have a technology with the capacity to record a series of transactions that cannot be tampered. In such a case, it becomes crucial to know who is responsible for the goods through every handover, which, in turn, allows package tracking as well as accountability. It is one of the most substantial logistics industry trends that can save companies billions of dollars when applied on a mass-market level.
- Perfect order deliveries: In the logistics industry, one of the key metrics used to measure customer satisfaction is perfect order. This is an index assembled by measuring four primary aspects of an order, including on-time deliveries, completed shipping, damage-free shipping, and accurate documentation. A recent survey, states that only 84% of all orders can be considered perfect, which is way too low as shippers have to suffer the additional cost to correct the errors. New technologies like barcodes, RFID, and IoT are helping logistics companies attain a higher rate of perfect orders. Such logistics industry trends will help restrain losses and improve customer satisfaction.
- Elastic Logistics: The ability to develop and shrink logistics capabilities to align with the demands is known as elastic logistics. Logistics service providers are not ready to handle significant surges in customer demand. The agility of the logistics companies to adjust to market fluctuations increases with flexible automation solutions. Organizations can deliver customer delight at a reduced cost when companies achieve optimal utilization. Due to this, more and more companies are experimenting with third-party providers, outsourcing, and a shared economy.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 15+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.