With 2018 business planning in full swing, it's important to stay on top of new trends that can impact your company. After a number of 2017 industry shakeups, here's a quick peek at the top 2018 logistics trends you should know.
Increased Government Investment in Infrastructure
During the recession, government agencies put off much-needed repairs and replacements, leaving the roads in bad shape. However, the current administration has promised a strong investment in infrastructure. This may involve fuel tax increases, shipping delays, and detours that increase mileage. More importantly, changes brought on by an infrastructure focus may have an impact on your business costs.
Significant IoT Growth
It's expected that 2018 will be another banner year for IoT technology, which will continue to make it easier to track shipments and products. As this trend continues, more automation will take center stage, helping to streamline supply chain management, reduce downtime, and improve remote monitoring.
Focus on Fast Shipping
Thanks to "the Amazon Effect,"consumers expect fast shipping. Today, many shoppers will go elsewhere if two-day or overnight shipping isn't offered. This has led to an increase in omnichannel shipping options, such as in-store pickup, which help economize the process.
4.Spotlight on Transparency
Today's customers aren't just laser-focused on price — they're also concerned about sustainable, eco-friendly business practices. Be prepared for transparency to be a frequent topic of conversation in 2018. If you're already working to responsibly source, ship, and deliver goods - incorporate that message into your marketing. Doing so can help you stand out from competitors and attract new business.
- International Trade Changes
The current administration is heavily focused on improving the economy through better trade. That means international trade agreements may change in 2018, and changes may have a direct impact on your bottom line. If you regularly import items from overseas, things like increased tariffs can cause issues. Be aware of changes to stay ahead of the game.
These trends are expected to have a substantial impact on businesses in 2018. Use this information to evaluate your company performance and to determine how to best prepare your business for the coming year.
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