Revealing the unpredictable situation of the transport and logistics industries during COVID-19. What is the solution?
The world economy is struggling with COVID- 19’s effects in just nearly a year. Thousands of businesses had to declare bankruptcy. Even the big men with decades-old could not escape reality. In this challenging situation, the transport and logistics industries are also affected positively and negatively.
Most businesses that still follow backward management face many difficulties; many of them also have to declare bankruptcy. However, a good sign is that there are still businesses in the industry that stand firm in a difficult period and make a big breakthrough, ignoring their competitors. This article will learn about the problems that failed Logistic businesses and find a solution for them.
The situation of T&L enterprises
T&L companies are losing customers and are missing out on business expansion opportunities. So what is the reason here?
Research has shown a sad result that the reason is “backwardness”. The report reveals that outdated last-mile technology is making a significant impact on the industry as it prevents companies from operating to their full potential. This is both a costly business and does not result in customer satisfaction.
Nearly half of global companies confess that their organizations have outdated technology. This has led to sad results.
- Loss of customers
Many businesses report that they have lost many customers due to outdated technology. More than 50% of the rest believe that they will continue to lose other customers if they do not change. A third of senior executives also say that they lag behind their competitors using old technologies.
- Lost opportunity
It is clear that technology is a springboard with ample capacity, creating competitive advantages for businesses. When businesses do not equip themselves with modern technology, they are losing their development opportunities.
“In risk”, translation COVID -19 dramatically affects businesses, but in the field of logistics, it still presents a great opportunity in the role of providing essential goods to the market.
But of course, not all T&L businesses have the resources to upgrade their operating systems; the matter is whether they will invest or not. One-third of companies claim they could not boost effectively during a pandemic due to outdated technology – meaning they missed out on growing their businesses.
So, where is the fireworks for businesses?
With a vision of 2020, adopting an effective mobile-first strategy is crucial to solving businesses’ problems by ensuring that companies can control these aspects. This helps enterprises grasp new opportunities, optimize labor costs, work time, and better customer’ expectations.
Increase processing speed
All activities are monitored and processed in real-time, eliminating idle time.
Labor cost optimization, ensuring all resources are used appropriately. Minimize downtime.
Transparency in distribution channels
Maximum visibility, every manager can capture information, ensuring transparency in the process.
The ability to keep up with the competition
When the business has upgraded its system, it can create a competitive advantage over competitors in the field.
Is the adoption of mobile solutions essential?
This is the question of most businesses. In the face of the COVID -19 industry’s difficulties, they must be cautious in investing new expenses. This is clearly an appropriate time for businesses to make a breakthrough when consumers are switching from traditional shopping to online shopping.
So, to ensure they don’t lose customers to competitors or miss valuable opportunities, T&L companies need to ensure they have the most up-to-date mobile technology available, combined with a mobile management platform and integrated IoT. Only then can they protect customer retention and make sure they have an effective strategy in place.
How will we help customers?
TSL is the pioneer in providing Logistics 4.0 solutions in the Vietnamese market and providing SOTI Mobicontrol solution for the market. With a team of enthusiastic and experienced personnel in the T&L industry, TSL understands customers’ needs, understands how businesses can create competitive advantages and save costs. Many companies in the field today are creating competitive advantages and gaining momentum when using SOTI’s solutions. That is a testament to the values that SOTI is providing to the Vietnamese market.
SOTI’s recent study found that nearly half of T&L executives say that outdated technology is what’s holding them back.