Transportation Management Through Disruption
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Key Takeaways
⇨ Descartes’ benchmark survey investigates how companies perceive the role of transportation management, identifies key industry trends driving the market, and examines how transportation value is measured.
⇨ This year, the survey results show a dynamic landscape where regulatory changes, cost pressures, and sustainability efforts are significantly affecting the transportation industry.
⇨ Companies that view transportation as a ‘Competitive Weapon’ versus those that view it as ‘Not Important’ focus more on growing their business, provide more delivery options for their customers, share transportation information more freely, and are more likely to be an early adopter when it comes to new strategies.
The 2024 Global Transportation Management Benchmark Survey by Descartes highlights how shippers and logistics service providers (LSPs) are preparing for industry and regulatory changes, with 40% of respondents investing in technology, a number that rises to 44% for companies considering transportation a competitive weapon. The survey, which includes insights from over 630 global transportation professionals, identifies key trends such as the impact of fuel costs, the importance of visibility in transportation management, the role of business growth, and the significance of sustainability in daily decisions. Fuel costs remain a major concern, with 52% of respondents citing it as a critical factor over the next five years. Visibility is prioritized by 42%, with regional differences noted between North America and Europe. Business growth drives transportation management expansion for top performers, while cost reduction is a primary focus for companies with poorer financial performance. Sustainability is increasingly crucial, with 90% of respondents considering it in their planning. Despite a decline in the percentage of companies planning significant IT budget increases, three-fourths still plan to boost their transportation management investments over the next two years, indicating the ongoing importance of IT in enhancing transportation management.
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