With global shipments increasing at an accelerating rate, there is no longer any room for complacency in logistics businesses. While digital innovations have been introduced to the sector at a slower pace, the resulting disruption poses enormous risks, and even the best-established players can be seriously damaged. One industry that is closely tied to logistics is retail, and with the rise of e-commerce, new digital players have entered the last mile delivery market.
In addition to enhancing operational efficiency and reducing operational costs, digitally enabled information services will increase competition within the logistics industry. This will boost trade and create a more competitive landscape. In the long run, these platforms will bring societal benefits, including lower emissions, reduced energy consumption, and increased customer satisfaction. Once the regulations and technological hurdles are cleared, these platforms will lead to dramatic changes in the logistics industry, with huge gains for customers.
Crowdsourcing and other digital innovations will make the logistics industry more efficient and competitive, and help smaller companies compete globally. The resulting benefits for customers will be substantial. The combined capabilities of BDP and PSA will help satisfy the ever-growing demand for same-day deliveries, reduce operating costs, and improve efficiencies. In addition to that, crowdsourced players could drive down operating profit for major trucking companies, resulting in higher prices for consumers.
