How can businesses succeed in the competitive logistics market?
The development of new and innovative ways in which to receive, sell and transport goods has changed the game for businesses in several professional industries, and the logistics sector is no exception.
In particular, the rise of ECommerce has vastly improved the services that logistics management businesses are able to offer their global clients. In turn, consumer expectations at every stage of the journey have sky-rocketed.
In more recent times, transport giants Uber announced that they would be opening an office in Chicago that will serve as its Freight headquarters for operations throughout the U.S, further highlighting how the potential in this sector is grabbing the attention of the biggest corporations in the world.
So, what does this mean for the wider industry? How will businesses be able to gain an advantage in such a saturated market?
Embrace technology and innovation
With so many businesses offering so many different service options in logistics and transportation, it is imperative that companies are on top of any technological developments.
Online bookings, quotes, delivery tracking, and so much more are now a huge part of securing business and repeat business. If a company fails to incorporate these within their offering, there will be several competitors ready and waiting to offer consumers a better service.
The best businesses will always be keeping a close eye on anything that will streamline the process for both themselves and their target consumer, either by conducting a thorough competitor analysis or assessment of the wider market to ensure they aren’t missing out.
Developing and maintaining strong consumer relationships
Transportation is incredibly essential for businesses in every sector. With more and more freight and supply chain corporations offering low margins and prices for their extended services, professional relationships built up over the years must be maintained to avoid clients jumping ship.
Loyalty can make or break a business in the modern market. Therefore, having the right team in place to both manage client expectations and build up a network of supply chain clients will be critical to long term success.
Hiring the right leaders to drive success
A logistics business can have all the tools necessary to succeed, including a constant finger on the pulse of how the market is evolving as well as a strong network of loyal clients. Without the right people to drive new ideas and make real change; however, even the biggest corporations will ultimately fail.
Especially in C-suite positions, where employees are expected to manage an entire hierarchy of employees as well as improving operations on an organisational scale, choosing the right people can be the difference between success and failure.
Every business in this industry needs forward-thinking leaders with skills in operational execution, people management, driving growth, strategic planning, and much more. As most will tell you, this type of leader is difficult to find and even more challenging to retain in a highly competitive landscape.
At Imperium Global, our dedicated consultants and leadership team have over 60 years of combined experience in finding the right individuals. Particularly in logistics, we work with a diverse cross-section of the category, including integrators, freight forwarders, 3PL providers, ocean carriers, NVOCCs, airlines, as well as rail, port, terminal and airport operators. For more information, please visit our logistics and supply chain page here.
The explosive growth of technology and enhanced competition in logistics will no doubt continue to be an obstacle for corporations large and small. To stand the best chance of succeeding in light of these challenges, businesses must prioritise innovation, and in particular, finding the right leaders. Without this, they are seriously at risk of falling behind.
Here at Imperium Global, our recruitment specialists have years of experience in logistics, placing top-level candidates at global industry leaders. For help sourcing top talent, contact us today.