To achieve profitable growth over the long term, transportation and logistics companies must prepare for six megatrends that are reshaping the. Boston Consulting Group On Global Megatrends. Differentiating Success Factor or Just a Hollow Phrase? The word “megatrend” is a beloved. Megatrend analysis allows companies to build a long-term strategy that on analysis from Boston Consulting Group, a fourfold increase.
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For example, the use of new technology and online communities can help prevent a high bias rate in recruiting. These primarily relate to platform solutions, such as cloud-based transport management systems, advanced freight exchanges, and virtual-forwarding offerings made available by Transporeon, Flexport, Cargomatic, and other companies.
Many companies will need to focus more on developing digital skills among their current workers or identifying and recruiting potential new hires. Those that start preparing for change today. Large organizations can address these pressing talent issues by establishing a presence in digital hot spots or helping new hot spots emerge. But many of them do not acquire the skills that would make them employable.
They have also implemented IT systems to replace paper-based processes for pricing, booking, and billing. A recent study by BrightHouse, an ideation and branding company within BCG that helps companies become more purpose driven, found that companies with a culture based on shared values outperformed their competitors in revenue, profit, employment growth, and stock performance. Independence is becoming the dominant motivator for a large section of the population, particularly for millennials born from the early s to the mids and Gen-Zers born in the mid- to late s and after.
They will also need to rethink the way they engage with talent and how they get their work done. Capturing the opportunities will require developing business models to provide new services—such as logistics services that address the complexity of sustainably transporting food throughout the supply chain.
Getting Ahead of the Megatrends in Transportation and Logistics
The New Age of Work What changes will these trends bring? These younger people tend to get bored doing the same kind of work for long stretches, and they are especially interested in independent careers. Although companies have been gradually automating for decades, recent advances in areas such as robotics and artificial intelligence are not only obligating people to work side by side with machines but are also creating replacements for human workers—even in fairly sophisticated jobs.
In response, individuals and organizations will mfgatrends no choice but to invest in massive, ongoing skill development programs. They will shift from HR processes, policies, and systems to problem-solving interactions.
Moreover, data analytics can be used to improve employee management and engagement. Instead of hiring full-time employees, companies can staff projects with the specific expertise needed. Disparity in wages and economic growth rates, multiple centers of power, urbanization and resource depletion, migration, and the rise of the middle class in developing countries. We categorize them into two groups: Given that many universities are already overwhelmed with demand, the responsibility for this radical retraining will likely fall into the hands of business.
Logistics players will need to overcome these constraints when developing solutions for their customers. We have divided these forces into two groups. Logistics services companies may also be under pressure from their customers to pursue a green agenda.
Getting Ahead of the Megatrends in Transportation and Logistics
These segments include not only CEP delivery but also others, such as road transport and contract logistics providers, that have companies capable of last-mile fulfillment. We categorize them into two groups:. Organizations tend to respond to new challenges by adding teams, functions, and departments. Teamwork, decision making, communication, and the ability to plan, organize, and prioritize work are at the top of the list of soft skills sought by employers.
They need not even be employees: And as flexible, cloud-based software replaces traditional documentation and controls, HR will customize its interfaces with employees to better support individual needs and desires. These agile and innovative approaches, along with design thinking and metatrends related methodologies, will soon become the norm, not just in IT where they originated but across functions and practices. To cope with them, companies need a well-thought-out mfgatrends that can translate into concrete interventions.
Infrastructure is increasingly becoming a bottleneck for business. Automation is replacing jobs; big data and advanced analytics are unlocking vast customer, operational, and employee insights; and increased access to information and ideas is blurring the boundaries of traditional institutions.
Bdg players will replace their aging fleets with new, fuel-efficient vehicles to comply with regulatory requirements and to lower operating costs. These players can use their broad perspective on the market to identify which routes will have the most significant capacity constraints, secure capacity on these mefatrends, and megayrends it to customers at premium prices. As a result, the migration of workers from the poorest and most rural areas to the richest and most urban areas is accelerating, as is the desire of employees to work virtually.
For example, Bosch has started an initiative in which older and megatrendd employees from different divisions with at least a ten-year age difference meet on a regular basis in order to learn from each other.
Congestion and scarcity of infrastructure will be especially critical challenges in areas with high population density.
Appendix Our yearlong analysis revealed 60 trends, which we consolidated into 12 megatrends in four areas. Shifts in Ways of Generating Business Value Advances in digital productivity have many benefits, but they also increase complexity and accelerate business cycles.
First, companies have significant opportunities to apply big data and automation to improve operational efficiency, quality, and costs.