While bolstered by the growth of e-commerce and home delivery over recent months, the freight & logistics management industry was initially negatively impacted by the effects of border closures and supply chain disruptions at the start of the pandemic.
The industry is slowly regaining strength through rapidly adapting pre-pandemic processes with technology and innovation. For example, the need to maintain social distancing has led to increasing implementation of warehouse automation and artificial intelligence, which has also increased efficiency and productivity in an increasingly fast-paced environment.
As demand for faster delivery times rises across cities, logistics management companies are seeking to grow their warehouse network to include smaller, inner-city facilities that hold popular products and therefore reduce turnaround times for customers in key cities.
Sustainability must also play a key role in efforts across the freight & logistics management industry, as e-commerce customers increasingly expect processes to be environmentally friendly. For organizations, this has meant increased investment in energy-efficient vehicles, sustainable packaging solutions, and low- to zero-waste policies.
Looking forward, while the freight and logistics industry is expected to maintain sustained growth, uncertainties stemming from the ongoing COVID-19 crisis and the recent implementation of Brexit show potential to further disrupt processes. Future success, therefore, will largely depend on risk assessment and detailed preparation.