Insourcing a key threat to forwarders

Logistics Trends & Insights has published its 2018 Evolving Freight Forwarding Market report, revealing that 54 percent of respondents think that shippers bringing their logistics functions in house is the biggest threat to the market.

 

Digital disruption, however, was not high on the list of threats facing forwarders. Only 2 percent of respondents classed 3D printing as the biggest threat to the market, while blockchain technology and autonomous shipping ranked second in the list, each with 12 percent.

While digitalisation was not the biggest concern for freight forwarders, 54 percent of those asked said it is “extremely important” to their strategy, although responses varied when asked how they plan to invest in digitalisation.

30 percent of respondents said they would build their own solutions, while 28 percent said they would utilise off-the-shelf platforms. Only 18 percent of respondents planned to invest in digitalisation through partnerships, while 16 percent of those surveyed plan to achieve digitalisation through acquisitions.

Tight margins, meanwhile, continued to be the most critical “pain point” for freight forwarders. 46 percent of respondents selected this issue over capacity concerns, uncertain global environments, and rates.

Only 6 percent of respondents cited the uncertain global environment as the most critical “pain point”, compared to 22 percent of respondents in the 2017 Evolving Freight Forwarding Market report.

logisticstrendsandinsights.com

Heavy Lift | News

Sovereignty of the seas

August 17 - Russia, Iran, Azerbaijan, Kazakhstan and Turkmenistan have signed a landmark agreement on the Caspian Sea’s legal status, outlining the maritime borders and ending a 20-year long dispute.
Views: 347

FROM THE MAGAZINE: An overlooked link in the supply chain

August 17 - The safe arrival of oversized and heavy project cargoes is directly related to how well they are packed and secured. Paul Lucas highlights some of the challenges facing packing and crating companies around the world.
Views: 342

IUMI nominates Turner

August 15 - The International Union Marine Insurance (IUMI) has nominated Richard Turner, global marine director and European director of global risk solutions at RSA Insurance Group, for the role of president.
Views: 415

Trade tariffs take hold…

August 8 - In its second-quarter analyst call, Caterpillar confirmed that the USA’s decision to impose import tariffs on steel and other metals will have a real effect on its businesses and customers in the second half of 2018.
Views: 1006

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.