CartonCloud Logistics Industry Report Trends Forecast 2024
The combination of rising warehouse rental rates alongside fuel and energy price hikes resulted in a significant sting felt by the logistics industry.
As operational costs such as fuel and electricity rise, operators may increase their own rates in accordance — though not all sectors are acting on this already.
According to the recent CartonCloud Logistics Index Report Q3 2203, the majority of logistics businesses (75%) had experienced rising operational costs, and over 80% of small businesses (1-50 employees) were impacted by rising costs in 2023.
The Q3 2023 CCLI report found companies are looking to optimize and streamline their internal processes in 2024, trimming the fat where possible and ensuring each dollar is counted— and technology affording automation is key.
The report forecasts in 2024, companies will dive deeper into data and administrative automation in order to reduce overheads and keep rates low. This year, technology and automation are key.
In Q3 2023, the top technology features used in overcoming fluctuating economic conditions were to automate orders, rates, and invoicing— removing manual tasks for greater ROI.
Previous year’s CCLI reports had shown companies were looking to optimize internal operations through upgrades to fleet and warehouse technology, removing paper-based processes, and offering greater professional development to staff.
This focus on internal automation and process streamlining shows a stark contrast to the growth focus tactics of previous years when industry demand was booming following the post-pandemic spike in e-commerce and purchasing.
With invoicing, order and billable rate automation front of mind, this suggests warehouse management systems and transport management systems with finance and administration automation will be keenly sought after by members across each sector.
Download the full report at the CartonCloud Logistics Index Archive.
Over the past three years, CartonCloud has tracked industry sentiment and optimism through the CartonCloud Logistics Index survey and reports. The Surveys capture data nd insights directly from logistics professionals worldwide, to track changes over time, and provide actionable data for businesses to use in planning for the future.
https://www.cartoncloud.com/cartoncloud-logistics-index-archive
