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As third-party logistics providers strive to grow and meet the growing demand for omnichannel retail, a new report comprehensive It reveals that technology is a tool that many rely on to be a differentiator.
Extensiv’s 3rd Annual Third Party Logistics (3PL) Warehouse Benchmark Report shows that as fulfillment providers respond to continued business evolution, they are leaning on technology to meet the challenge. As robotics and AI dominate the industry debate, Third Party Logistics Providers expect their use of robotics to double, with an expected increase of 133%.
The top three technology investments expected by 2023 are key companies’ goals for adopting new technology around productivity and operational efficiency. 25%). On average, 3PLs plan to implement 1.5 new technologies in their business in the coming year.
Growth is a primary driver behind technology adoption, with 60% of respondents sharing that their warehouse management system will improve technology to grow by 11% or more. In fact, 38% of third-party logistics providers measure order volume by more than 25% using their warehouse management system.
Increased use of automation
Automation is another important pillar of logistics development. Almost 53% of 3PLs think so Automated processes Best chance of 2023 in their warehouses.
Adding more order sources to order volume management is another factor, as shopping cart integrations increased dramatically at 48% and 33% last year, and market-to-market integrations rose from 17% to 25% in 2021.
Other key findings:
- 2.9 With warehouses serving industries, many 3PLs focus on specialization;
- Bottled goods/wine and spirits and pharmaceuticals/nutraceuticals showed the largest year-over-year declines, down 33% and 32% respectively.
- 3PLs performed better than previous years, with order volume growing by 91% in 2022.
Read on Full report from Extensiv.
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