Bath, February 8th, 2022: The necessity to successfully manage supply chain disruptions and decrease exposure to risks has only become more urgent as we have been faced with an unexpected global health crisis and a resulting global supply chain collapse. As a result, the importance of RTV in the logistics industry has increased, with the 57.4% of shippers realising that visibility is no longer a nice to have, but a must have. Meanwhile another 41.3% say that RTV is a nice to have feature when carriers tender for their business and only 1.3% say it is not relevant to their tender process.
Ti, in partnership with project44, recently conducted an online survey to assess the critical factors for shippers when evaluating and selecting carriers. The report highlighting the survey findings continues to illustrate that the benefits of real-time visibility across supply chains are obvious to shippers who now consider RTV as a critical service differentiator and an offer carriers must supply.
The report identifies the key transportation issues that shippers face and discusses how RTV can alleviate these problems and build resilience for future crises.
It highlights that the provision of RTV is one of the top three criteria when choosing transportation partners and is considered more important than factors such as ‘customer service’, ’geographical coverage’, and ‘sustainability’. More than half of shippers consider RTV to be a pre-requisite for a carrier to be eligible to tender for their business.
The report’s author, Viki Keckarovska, commented: “As more and more customers are adding RTV as a base requirement to their tenders, carriers unable to provide shippers with RTV throughout the life of a shipment may find themselves at a competitive disadvantage in the future.”
The supply chains of the future will be characterised by full transparency and increased resilience. This will enable supply chain networks to better manage issues and the resulting uncertainties, as well as to create and capture the value of deeper and more efficient carrier-shipper partnerships. A large proportion of the surveyed shippers appear to be aware of this and have as a result expressed willingness to implement RTV across all modes and regions in the next 5 years. The results show carriers must develop the capability to operate in a connected RTV environment.
In light of the increasing demand for RTV from shippers, moving forward, those carriers that have the capabilities to operate a fully transparent global supply network will stand out from the competition and win new business, but also improve existing customer relationships.
Source: Transport Intelligence, February 8, 2022
The report “Future Proofing the Supply Chain Through Real-Time Visibility” provides a detailed assessment of the top priorities when choosing a carrier and reveals the importance of Real-Time Visibility for supply chain operations. To find out more about the report, click here.
About Transport Intelligence (Ti)
Ti is the world’s leading source of market intelligence for the logistics and road freight industry, providing data and analysis through its European Road Freight Transport report series, Global Supply Chain intelligence (GSCi) database and expert consultancy services. www.ti-insight.com