Innovation has long been a driving force in many industries, and like most other industries, transportation and logistics is currently facing immense change. This change, being driven by new and innovative technology, comes with inherent risk and opportunity T&L companies can leverage to optimize their business.
Logistics companies that have avoided technology are suffering because they cannot maintain cost efficiency and asset productivity. Transportation and logistics companies will need to focus on adopting digitization to drive cost efficiency, asset productivity and innovation if they want to meet the needs of the changing environment. Digitization has quickly become – and has set the bar for – the basis for a competitive advantage in the T&L industry; fundamentally disrupting operations by challenging existing business models where an established network may become a hindrance rather than an advantage.
Change in this competitive environment puts a company’s operations to the test – especially in a mature industry like logistics, where it can be tough to change. Traditional operations are being fundamentally challenged, changed or even replaced. There are many ways the industry could adjust to align with the changing environment through technology.
Technology, innovation and digitization are pushing traditional transportation & logistics companies everywhere to adapt and transform or risk irrelevance. Thanks to the latest technological advancements, the T&L industry is poised for a slew of digitization initiatives that will slash costs, unleash unparalleled asset utilization and skyrocket productivity – but only if companies can harness the right technologies to support their business strategy.
At FuelNOW, we are working with our customers to ensure they are ready for the changing environment by providing them with a feature-rich platform and mobile solution, which in turn makes it possible for them to utilize new business models helping them be more agile and flexible in the market. It will also provide scalability and transparency in an otherwise siloed industry, as well as standardized technology and harmonized processes across the whole order lifecycle. That’s especially important for those companies who have grown by utilizing 3PLs, and currently rely on a patchwork of legacy systems.
Network size and efficiency continue to be key sources of competitive advantage to our customers in their day-to-day operations. With the FuelNOW tech stack, customers benefit from the growing network size of 3PLs, and gain better delivery speeds and efficiency, supported by new and more sophisticated technologies in delivery and customer interaction, thereby enhancing their user-friendliness and level of comfort.
The FuelNOW platform and mobile solutions allow our customers to prune operational inefficiencies and thus free up resources for the key areas of focus – such as digitization, asset productivity, and innovation – and invest more to support the company’s key capabilities and value propositions.