Freight forwarding in today’s world

A report by Logistics Trends and Insights found that half of survey respondents see the entry of Amazon, Google and other marketplaces into the world of forwarding as an opportunity for forwarders, compared to only 33 percent who see it as a threat.    Nearly half of respondents polled in a recent survey by the consultant Logistics Trends and Insights (Logistics TI) believe the best way for freight forwarders to differentiate themselves is through technology.
   The finding came in a report to be released Wednesday by Logistics TI, based on feedback from 130 logistics professionals. The report, “The Evolving Freight Forwarding Market,” also found that half of respondents see the entry of Amazon, Google and other marketplaces into the world of forwarding as an opportunity for forwarders, compared to only 33 percent who see it as a threat.
   In terms of which technologies companies will use over the next five years, the most commonly cited were those addressing operational efficiency and customer service. The most critical pain point for those surveyed is tight margins.
   The overwhelming majority of respondents said that despite the challenging environment, forwarders are still relevant.
   “As many of our survey respondents noted, those that innovate and modernize will thrive,” report author Cathy Roberson wrote. “An interesting comment from one survey respondent suggests that freight forwarders have a role to play especially in regional and local logistics loops where market access is difficult.”
   The report will be available for free download May 18.