Inbound Logistics Releases 2024 "IT Perspectives" Report: Insights on Supply Chain Technology Trends
The 2024 IT Perspectives Report from Inbound Logistics contains valuable insights into how shippers are leveraging supply chain technology to navigate today's challenges.
Exclusive market research offers insights into the trends shaping the logistics and supply chain technology market.
The comprehensive survey of market-leading logistics technology providers reveals important insights on prevailing market trends, key solution categories, supply chain challenges, and the integration of next-gen technology in supply chain operations.
"As supply chains become increasingly complex and global, the role of technology in driving efficiency and profitability has never been more critical. Our 2024 IT Perspectives report offers valuable insights into how shippers are leveraging logistics technology to navigate today's challenges and seize opportunities for growth," said Felecia Stratton, Editor, Inbound Logistics.
Key findings include:
Growth in Logistics IT Adoption: 85% of logistics IT vendors report gaining customers over the past 12 months, indicating a growing demand for IT solutions in supply chain management.
Industry Trends: Retail and manufacturing sectors emerged as the strongest markets for logistics IT solutions, followed closely by the food and beverage industry and wholesale businesses.
Key Solution Categories: Popular solution categories offered by supply chain technology providers include optimization, process improvement, data management, and analytics. In addition, specific logistics functions such as order management systems, transportation management solutions, and routing and scheduling are also in demand.
Integration of AI: Half of the IT vendors surveyed provide solutions incorporating artificial intelligence (AI), demonstrating an increasing reliance on AI-driven technologies to streamline operations.
Challenges: Cost reduction remains the top priority for IT vendors' customers, with 86% citing it as a critical issue. Maintaining visibility into operations emerged as another common challenge, mentioned by 70% of vendors.
The report also offers vendor perspectives on the most pressing concerns their customers face today, ranging from managing demand amidst variability and volatile conditions to effectively automating supply chain decision-making.
Providers also share their strategies for responding to these concerns. Glenn Riggs, Chief Strategy Officer for Odyssey Logistics, addresses the growing demand for AI, stating, "We're investing heavily in our IT systems, including a robust data model and warehouse infrastructure, to unleash the power of AI and machine learning for our customers." And, to address concerns around trust in AI-driven decision-making, Ram Krishnan, Global Head of Customer Success at Aera Technology, highlights the company’s commitment to transparency. "We provide comprehensive visibility and traceability, ensuring decision-makers have full confidence in every outcome," Krishnan says.
Read the complete 2024 IT Perspectives Report here.
The 2024 IT Perspectives Report is featured in all April 2024 editions of Inbound Logistics. For more information and to access the complete report, please visit the Inbound Logistics website or access the digital edition here.
Amy Roach Partridge
Xometry/ Inbound Logistics
+1 212-629-1563
amy.roach@thomasnet.com
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