Odyssey Logistics & Technology TMS Study Reveals Insights Amid the Pandemic on Logistics Technology and Market Conditions
More than 350 shippers weigh in on the trends in transportation management and overcoming the challenges of COVID-19
DANBURY, Conn., Aug. 18, 2020 /PRNewswire-PRWeb/ -- Odyssey Logistics & Technology Corporation (Odyssey), the global leader in complex logistics and technology solutions, commissioned an independent, third-party firm to conduct an extremely timely, highly relevant research project and e-book: "Meeting the Challenge of a World Transformed." It is the most recent TMS research available to the industry, gauging the responses of more than 350 shippers in May 2020 as the pandemic was in full force in the U.S. The research results show TMS playing a critical role in increasing shipping transparency, improving risk mitigation, automating cost management, closing the customer communication gap and maintaining remote work capabilities—during and after the pandemic.
As a whole, the research anticipates shippers spending an average of $60 million on domestic freight in 2020. With so much on the line, respondents said that accessing shipment status information (81%) and transportation cost analysis by lane and mode (70%) were highly important for their shipping operations. Respondents' top major challenges were visibility, track and trace (42%) and communication with customers and carriers (37%).
"It's critical for logistics professionals to maintain continual communication with customers, yet it's also the leading cause of disruptions to logistics operations," said Albert Lee, chief technology officer at Odyssey. "Our research indicates that customer communication is the one activity that consumes the most time for planners and a centralized, automated TMS can reduce this stress and labor."
Nearly two-thirds of respondents (65%) said having cloud-based access to shipping operations is either critically important or very important considering the effects of COVID-19 on logistics operations and office support. Today, nearly two-thirds of respondents (63%) currently use a TMS, are in the process of implementing TMS or are evaluating or planning to implement TMS within the next 24 months. The top two drivers for using or planning to use TMS were cost management (68%) and track and trace (61%) capabilities. As the pandemic continues, more than half of respondents (56%) said they were very likely or somewhat likely to reassess the integration of a cloud-based TMS.
"Risk mitigation is another important reason for logistics providers to implement TMS," said Lee. "Our independent study shows that 51% percent of respondents cite improved decision-making and risk mitigation as a goal for TMS implementation — second only to achieving visibility to shipment status at 66%."
To access more data and insights from this most recent research on the logistics industry during the pandemic, read the Odyssey e-book.
Odyssey Logistics is also offering a virtual media tour to provide more insight on this TMS study. Editors can schedule one-on-one interviews with Odyssey thought leaders by contacting Mark Derks at [email protected] or Karis Montanez at [email protected].
For more information about Odyssey, visit http://www.odysseylogistics.com.
About Odyssey Logistics & Technology Corporation (Odyssey)
Odyssey Logistics & Technology Corporation (Odyssey) is a global logistics solutions provider with a freight network exceeding $3B globally. Odyssey improves its customers' supply chain performance through a proprietary, predictive global technology platform, an international network of logistics engineering experts and specialized processes that drive quality, safety and sustainability. Its Door-To-Done® approach to complex global logistics helps ensure products are delivered through a safe, secure and environmentally responsible system. In addition to being certified by the American Chemistry Council as a Responsible Care® partner company and a leader in Jones Act transportation, Odyssey offers a broad portfolio of services including intermodal, over-the-road trucking, warehousing, global forwarding, managed services and consulting. Serving multifaceted, intricate logistics needs, Odyssey operates in high-barrier-to-entry markets with specialized transportation services that include bulk truck, ISO Tank, railcar and tanker, as well as food-grade product lines. Odyssey also prioritizes giving back to the community by supporting various organizations, including Project Outreach and Junior Achievement®. For more information on Odyssey, visit http://www.odysseylogistics.com.
SOURCE Odyssey Logistics & Technology Corporation
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