Global freight forwarding market in need of transformation
Global freight forwarding companies are seeking change, as they are compelled to transform themselves from within. This is with relevance to the rapid growth in 2017, as seen in the global freight forwarding market. The market grew by 8.0% in 2017, and in comparison, to other years, it is considered a rapid expansion compared with recent years and the biggest annual gain since 2010.
July 26, 2018
By PLA Editorial
Meeting the challenges and overcoming the threats requires forwarders embrace technology, drive scale and efficiency in their operations, and truly put shippers at the centre of their operations. These same drivers are also the clearest route forwarders have to capitalizing on the opportunities in today’s market. As such, Global Freight Forwarding 2018 examines in detail the strategies and technologies the world’s largest forwarders are using to position themselves for the future.
“At its core, forwarding remains a process of buying space and securing volumes, of ensuring goods reach destination on time and in good condition, and of building trust and lasting customer relationships. In 2018, we see and hear so much about logistics service providers moving to embrace advanced technologies like artificial intelligence and blockchain, it’s easy to miss that many of the world’s largest forwarders are renewing their focus on core activities and achieving higher service levels. After being caught unaware by the entry of a new breed of tech-enabled forwarders into the market, the traditional players have come to see technology as a force magnifier in value creation, but not as the centre of their offer,” said Nick Bailey, Head of Research at Transport Intelligence.