LSPs record growth in tech investments since 2020

According to a report from consulting firm McKinsey & Company, both shippers and logistics providers have sustained and grown their technology investments since 2020, despite deteriorating market conditions. The report, “Digital logistics: Technology race gathers momentum,” gathered results from more than 250 logistics leaders, who agree on market forces propelling shippers and logistics providers towards technological innovations for increased flexibility, predictability, efficiency, and resilience. The common pain points that they share include cost management, productivity of the workforce, labour, and performance, according to the report. This indicated that shippers and providers can address these shared challenges amongst others to increase capability and coordination.