Significant Market Opportunity Exists for Logistics Service Providers to Gain a Competitive Edge by Offering More Robust Visibility Solutions to Their Customers
BOSTON, Sept. 28, 2023 /PRNewswire/ — Tive, the global leader in real-time, end-to-end shipment visibility solutions, recently conducted a survey with FreightWaves in which it was revealed that only 1 in 5 (20%) shippers are satisfied with the level of communication and visibility they receive from their Logistics Service Providers (LSPs). Survey findings indicate that many logistics professionals associate visibility with basic location tracking—missing out on a much broader spectrum of visibility-enhancing technologies, such as shipment tracking across transportation modes as well as real-time condition tracking and escalation.
The survey, conducted over a two-month period in mid-2023, collected responses from over 500 logistics and supply chain professionals. The results underscore the critical need for shippers to expand their definition of shipment visibility to address their evolving needs. The survey results also highlight a significant potential market opportunity for LSPs to gain market share and a competitive edge by offering more robust visibility solutions to their customers.
Key findings from the survey include:
LSPs have some serious work to do: Only 20% (1 in 5) of shippers believe that the shipment visibility offered by their LSPs is sufficient for their needs
Visibility gaps run rampant across modes: Over-the-road (OTR) shipping ranks highest in terms of current visibility for shippers, yet there are significant gaps across ocean, air, and rail that limit a truly end-to-end, multimodal view of shipments
Significant opportunity for real-time tracking: While nearly 90% of shippers track shipment location, only 56% are doing so in real time; real-time condition tracking—temperature, light, shock, and humidity—lags location tracking by a wide margin, which provides an opportunity for LSPs to offer real-time condition tracking as a value-added service to shippers
Desire for real-time insights: Over 80% of survey respondents expressed a strong desire for real-time shipment insights, such as proactive alerts and status updates—going beyond simple location tracking
Need to close the communication gap: Only 4% of shippers said they are currently “very satisfied” with the shipment communications they receive from their LSPs; one shipper commented, “Providers are very reactive when a shipment is already missed, rather than proactive before it happens”
Krenar Komoni, CEO & Founder of Tive, commented on the survey results, saying, “These results highlight a gap in the industry’s expectation of shipment visibility solutions. As the survey clearly shows, shippers expect more from their LSPs. Complete visibility goes beyond tracking the location of goods—it also encompasses real-time data on shipment conditions, including temperature, shock, light, and more. Tive’s solution and our 24/7 Live Monitoring services are designed to provide comprehensive, real-time visibility. This enables LSPs to meet the ever-increasing demands of their shippers—and helps shippers make informed decisions while enhancing their customers’ experience.”
Tive’s innovative technology offers end-to-end visibility into the supply chain, ensuring that shippers always have access to critical information about the condition and location of their shipments at all times—across all modes. By expanding the definition of visibility—and adopting advanced solutions like those offered by Tive—logistics professionals are empowered to meet the evolving demands of the modern supply chain.
To view the survey results, please download the full report. For more information about Tive and its real-time, end-to-end shipment visibility solutions, please visit the Tive website.
About TiveTive is the global leader in real-time, end-to-end shipment visibility solutions. More than 600 global shippers, logistics service providers, and retailers use Tive to monitor shipment location and condition in real time, gain actionable insights, and ensure end-customer satisfaction. Tive’s cloud platform, patented sensor technology, and 24/7 Live Monitoring services reduce excursions and delays, minimize rejected loads, and decrease theft, damage, and spoilage. Customers count on Tive to ensure that shipments are delivered on time and in full—because every shipment matters. For more information, visit www.tive.com.
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SOURCE Tive, Inc.
