Logistics + Distribution
Future-proofing supply chain management with trends that influence visibility and growth.
Introduction
To say the logistics and distribution industry has been challenged over the years is an understatement. Before the global pandemic, international companies dealt with paper-based records, limited collaboration, manual processes and a restricted flow of critical information. And with the pandemic and Russia-Ukraine conflict, the global supply chain has had ongoing constraints and is under the microscope.
Supply chains are the lifeblood of economies. And the rising complexity of it all has created an opportunity to provide more seamless communication and visibility for all stakeholders involved, even amid changing customer demands. The future of logistics and distribution looks promising- and the global market trends support it.
The Trajectory
The industry is on the fast track to growth, but some socio-economic factors stand in the way of optimal performance. Here’s a snapshot of what that entails:
- The logistics market is on the rise. The global market is estimated to reach $12.68B USD in 2023.1
- Top regional powerhouse. Asia-Pacific is the largest market with nearly 45% of global spending.2
- Eastern Europe transportation turmoil. The Russia-Ukraine conflict has caused major trade issues, including greater transit time, higher fuel and export prices, more vessel demand and shutoffs to major passageways.3
- Another year of high prices. The conflict will keep food and energy prices at “historically high levels” until 2024.4
- But the ports are uncoiling. Cargo at sea is 30% lower compared to 2021.5
In 2023, the global logistics market is estimated to reach
Asia-Pacific is the largest market with nearly 45% of global spending.
Trends that Influence Visibility and Growth
In 2023, international companies can expect a digital transformation to replace obsolete and tedious processes. Click through to see the new trends shaping the landscape:
Gain Your Industry Ground
The logistics and distribution industry is on the fast track. How you set up your fiscal year goals is up to you, of course. Below are some tips that can help:
- Develop your tech stack. Cloud technologies deliver fast, low-cost and automated efficiencies that manual processes cannot.
- Optimize your call systems. Route and reach stakeholders to check status reports and maintain operations. A holistic approach empowers everyone to be in the same conversation.
- Evaluate your service and support channels. Take a look at your current setup and assess if it’s efficient and scalable to support your customers. Be sure to include voice, chat, text, email and other forms of communication in your evaluation process.
- Remain transparent in status updates. Staying proactive in communications keeps customers up-to-date on the departure, arrival and delay of their shipments, opening your phone lines for more urgent matters.
- Discover areas where you can automate. Lend your teams support with automation tools at their fingertips, helping increase productivity and performance.
The AVOXI Platform Solution
Logistics and distribution trends are evolving. And to keep pace with the high-touch experiences your customers expect, an all-in-one cloud communications solution can help empower quality interactions and attract repeat customers across the world in a centralized place. Use our platform to…
Simplify cloud communications.
Customers and stakeholders need to be connected quickly to agents who can help with their purchases. Seamlessly transform your customer experience with reliable global virtual numbers, custom IVR navigation and cloud PBX infrastructure.
Intelligently route calls.
Ensure your customers and stakeholders are routed to the right person every time to deliver a productive conversation. Tailored IVR menus, skills-based routing, queue callback and failover routing can help your teams continuously connect and target their support, increasing customer satisfaction.
Refocus, re-engage and surrender the silos.
Quickly and easily integrate with your CRM, helpdesk or chat tool to hyper-personalize the customer experience using feature-rich communications and automated workflows - all within a single platform.
Set goals and measure success.
Proactively monitor team performance, call performance and trends with advanced analytics that enable you to make smarter decisions to support your front-line sales and support agents, protect your industry legacy and ensure a stellar customer experience.
Citations
- “Global Logistics Market 2017-2018 & 2023 - Market Is Estimated to Grow to $12.6 Bn.” PRNewswire, 7 Sept. 2018, https://www.prnewswire.com/news-releases/global-logistics-market-2017-2018--2023---market-is-estimated-to-grow-to-12-6-bn-300708730.html. Accessed 24 Nov. 2022.
- “Global Logistics Industry 2020-2023: Emergence of Logistics Clusters, Freight Forwarding, Contract Logistics, Supply Chain Technologies, Ethical & Sustainable Strategies.” GlobeNewswire, 6 Feb. 2020, https://www.globenewswire.com/news-release/2020/02/06/1980998/0/en/Global-Logistics-Industry-2020-2023-Emergence-of-Logistics-Clusters-Freight-Forwarding-Contract-Logistics-Supply-Chain-Technologies-Ethical-Sustainable-Strategies.html. Accessed 24 Nov. 2022.
- Kamel, Deena. “Russia-Ukraine Conflict Further Raising Shipping Costs and Stifling Trade, Says Unctad.” The National, The National, 29 June 2022, https://www.thenationalnews.com/business/2022/06/29/russia-ukraine-conflict-further-raising-shipping-costs-and-stifling-trade-says-unctad/.
- Sharma, Alkesh. “Global Food Crisis Will Last for Months, World Bank Chief Says.” The National, The National, 20 Apr. 2022, https://www.thenationalnews.com/business/economy/2022/04/20/global-food-crisis-will-last-for-months-world-bank-chief-says/.
- Pyzyk, Katie. “A Clouded Outlook for Global Freight.” Transport Topics, 4 Nov. 2022, https://www.ttnews.com/articles/clouded-outlook-global-freight.
- Grey, Eva. “Cargo Theft: A Billion-Dollar Problem.” Ship Technology, 4 Feb. 2020, https://www.ship-technology.com/analysis/featurecargo-theft-a-billion-dollar-problem-5882653/.