The freight forwarding industry generates an estimated $270 billion in annual revenue. There are over 15,000 freight forwarders in the USA alone. Competition is ever present: a constant game of catch up is being played to stay competitive. Customers will chase the lowest cost, combined with the best services, or the best user interface/ability. And in the age of the consumer, service, transparency, and information has never been more critical. Two main points around the industry significantly impact a shipper’s buying process: technology and service.
At the Air Cargo Conference, earlier this month, the theme was the innovation of an industry that hasn’t changed in decades: Air Freight. You can track your local pizza delivery guy more meticulously than an aircraft part en route to a grounded 747. There’s an incredible disconnect between a shipper’s expectation and the technology available.
Today, shippers require more transparency and real-time information from legacy providers unable to support their requests; however, they also want their forwarder to handle every mode of transportation possible.