The absence of a ‘digital culture’ is the biggest challenge facing the transport and logistics sector, a new PwC report has found.
The report, entitled ‘Shifting Patterns – the future of the logistics industry’, found that 50 per cent of transport and logistics companies believe a lack of digital presence in their organisation is the single largest issue they face.
And 90 per cent of transport and logistics companies identified data and analytics as the main drivers for redefining the industry over the next five years.
The research identified digital, data analytics and platform technology as ‘new entrants, new business models and new ‘sharing’ opportunities’.
“Technology is changing the face of the industry and, for T&L companies wherever they might be, digital fitness and clear market focus will be essential prerequisites for success,” said Coolin Desai, PwC UK partner and head of transport. “The real pressure points are emerging globally and particularly in the US markets, but change is already beginning to impact the UK T&L market.
“It is important that companies remain alert to how new technologies, from data analytics to automation and platform solutions, are transforming the wider markets. In this market, early adopters may win early advantages.
“Companies that make themselves digitally fit and anticipate opportunities will be most attractive to investors to markets and to customers.”