As we confidently emerge from the Corona Virus the industry is experiencing a myriad of changes. Since the pandemic, the trucking industry has had to react to unprecedented changes in operational and management procedure. Most everyone in any trucking or logistics company has had to adapt to the new normal. So, what is the new normal today and what can we expect in the coming years. There have been numerous things that have impacted the manner in which the industry has functioned and there have been numerous elements that have changed the way we work within the industry. Let’s examine some trends and try to make some predictions for the future of trucking.
Improvement Of Technology
Technology has caused widespread improvements to a number of industries and the trucking industry is not exempt. Right from the corporate offices of trucking companies to the very trucks themselves, technology has been evolving and improving. Corporate offices are beginning to employ a number of software programs to help make their operations more efficient and streamlined. Trucks are now being equipped with far better technology than ever before, and new trucks are being designed to incorporate smart technology to improve the functionality of the vehicle. The concept of tracking an order is also something that has caused many trucking companies to have to set up technology that helps them keep track of the goods that are being carried about, and also because they have to share this information to everyone in the supply chain. Lean and efficient operations will be the battle cry moving forward. Shared platforms will be standard technology applications to provide real-time information to all parties to a transaction.
Mergers and Acquisitions
Those who have survived the carnage of the last 15 months may want to consider a partnership. When it comes to mergers, there are two main routes that trucking companies are likely to delve into. The first one is to merge with an existing trucking company to be able to pool the resources together and withstand the market. This allows companies to continue their operations, and maybe even expand to newer territories. The second route that trucking companies can take is to merge with a company of a different sector to be able to expand the range of services that they can provide. Whether its an merger or acquisition, the market is favorable for a provider which has a reliable fleet size and national or regional reach.
Influence of E-commerce
Over the past few years, the e-commerce industry has grown tremendously, and we currently live in a world where people prefer to shop online than in-store. The wide variety available online as well as the fast fashion that comes with it has made this industry bloom and has helped it become one of the most successful industries today. However, it is important to note that the e-commerce industry cannot function without the help of the trucking industry. This industry is dependent on truckers to get their goods from one place to another, and this means that improvements in the e-commerce industry will lead to improvements within the trucking industry. Because the e-commerce industry is likely to grow further in 2021 and beyond, one can be hopeful that the trucking industry also experiences some positive growth.
Autonomous trucks are incrementally finding their way into the current fleet. It will likely be several years until we see fully automated trucks on the road. The industry is reliant on technology to ease not only the driver shortage but the overall labor shortage that the entire country is dealing with. Perhaps the government may expedite driverless technology out of necessity much as they did for corona virus technology.
Incorporation of Data Analytics
Data Analytics is an important tool that businesses around the world are looking to incorporate to impact businesses operation. Many companies in the trucking industry have already realized the benefit of adding data analytics into the work they do, and more companies are likely to follow in their footsteps in the coming year. In 20201, data analytics is not only going to be applied to the operational component, but also for the actual vehicles that are on the road. Several vehicles are being developed with technology that can send information to a source regarding the route and information regarding the operations that it is currently engaged. This technology can help the trucking industry identify the areas that need development and also helps them understand the areas that they can improve on when it comes to making their operations more efficient.
All of these developments are likely to alter the manner in which the trucking industry is likely to function in 2021 and beyond. To discover how these technologies can impact your business contact us @ www.Land-Link.com.
Stay Safe Everyone.
To stay up to date on these and other Logistics topics subscribe to our blog @ http://www.Land-Link.com/blog.
Land Link Traffic Systems