Fuel prices, economic conditions and productivity concerns make it essential for motor carriers to manage every aspect of their business using sophisticated motor carrier management information systems (MCMIS). These MCMIS systems manage vehicle history, load tracking, GPS data, driver records, mobile device connectivity and much more. However, these sophisticated systems only work when you have a stable, reliable and responsive IT infrastructure. Managed service providers, like Synoptek, can provide complete IT infrastructure outsourcing services typically saving motor carriers 8% – 29% of their IT costs annually. From an orphaned polar bear cub to half a million bottles of vintage French wine to organs for life-saving transplant operations, the logistics industry transports almost anything imaginable to almost anywhere on earth. The industry itself is also very diverse, encompassing everything from air freight to container shipping, and courier companies to port operators.
The industry recovered strongly from the financial crisis of 2008, growing at an average of 15% a year during the six years until 2014.Over the same period, the combined market capitalization of the leading companies in the industry more than doubled, from around $414 billion to approximately $960 billion. This analysis has identified several major market trends that have contributed to the growing demand for logistics. These trends chart changes in who consumers are, how they live and what they expect from logistics services. The fundamental political and economic developments making an impact on the logistics industry are also considered. To understand how the logistics industry has evolved – and will continue to change in the future – in response to these market trends, this report pinpoints the most relevant technological innovations. These advances in technology provide the building blocks for the digital transformation of the logistics industry.