State of Logistics Technology Survey Reveals Three out of Four Organizations Don’t Have the Technology to Keep Up with Exploding On-Demand Economy
New Research Reveals Retail, eCommerce, Gig Work, and Delivery Industries Are Prioritizing Logistics Technology but Cannot Meet Customer Expectations Amidst Growing Demand
News provided byHyperTrack
Jan 25, 2023, 9:00 AM ET
SAN FRANCISCO, Jan. 25, 2023 (GLOBE NEWSWIRE) -- HyperTrack, the leader in logistics APIs, today announced the findings of its inaugural State of Logistics Technology Survey Report, offering critical insight into logistics use cases and business priorities as organizations adapt to keep up with customer expectations in the growing on-demand economy.
In November 2022, HyperTrack hosted the Logistics + Tech Summit, an industry event bringing together over 1,700 logistics tech professionals from across the globe. As a follow up to the summit, HyperTrack polled logistics professionals from over 300 companies who are developing the next generation of technology for the on-demand economy to identify challenges and capabilities as they evolve to meet customer demand. Survey respondents ranged from hyper-growth startups to Fortune 500 companies across the gig work, field service, delivery, retail, manufacturing, healthcare, and technology industries.
Report findings reveal that over half of organizations are working on logistics technology projects to improve productivity and visibility for operations teams, but do not have the custom logic and workflows to meet the requirements of the on-demand economy. Key findings include:
- 59% of companies and hundreds of thousands of developers are building logistics solutions to meet the requirements of on-demand e-commerce. 71% of these companies are in the retail and manufacturing industry.
- 32% rank on-time delivery as the top priority and 26% rank verification of delivery of goods and services as the top priority.
- 72% do not have order tracking with real-time location for gig workers and delivery professionals and do not provide nearby notifications; nearly half are unable to insert on-demand orders into scheduled workload without disruption.
Additional findings point to a significant opportunity for delivery and gig work companies to incorporate order tracking links with live location of the delivery or gig worker, bringing tangible results to operations teams and reducing customer service interactions:
- 89% of delivery companies do not offer links with live location data of its driver, gig worker, or field professionals.
- Only 26% of delivery companies have the capability to insert on-demand orders.
- 70% of gig work companies do not offer links to track drivers and gig workers in real-time.
- 40% of the companies surveyed across all industries have legacy logistics technology that cannot support custom business logic or provide custom business workflows.
“Over the last several years, hyper-growth startups have addressed logistics challenges by throwing money at the problem and adding more servers and more people,” said Kashyap Deorah, founder and CEO of HyperTrack. “As the world goes on-demand and we enter an era of efficient growth, logistics technology automation has emerged as a top priority for modern organizations. This research reveals critical insight into the state of the industry including visibility, verification, customer satisfaction, and worker productivity, and identifies the clear gaps that need to be addressed.”
HyperTrack Brings Together the Industry’s Brightest Minds to Address Logistics Challenges
HyperTrack hosts industry leaders in the logistics space as part of its Executive Roundtable series for a candid discussion on how they are solving the most complex challenges to meet the needs of on-demand commerce. Click here to attend a session in Mumbai on February 9th, San Francisco on February 16th, Atlanta on February 23rd, New York on March 9th, or nominate your city to host the next event.
Additionally, HyperTrack is excited to announce the Logistics + Tech Heroes Webinar Series featuring engineering leaders from W Energy, Groundworks, and Magaloop to share best practices and highlight the latest innovations in logistics tech. The series will focus on engineering decisions and considerations with a high-level overview of architecture, tools, and lessons learned while engineering the future of logistics technology.
HyperTrack will also be exhibiting at Manifest, the premier gathering of industry leaders, innovators, and investors in a showcase of the cutting edge of logistics and supply chain technologies on January 31st - February 2nd. Visit HyperTrack at booth 310 and attend founder and CEO Kashyap Deorah’s presentation on “Building Logistics Tech with APIs” on February 1st at 11:30 am PT.
Click here to download the full report.
HyperTrack is the #1 API platform for logistics tech builders who are developing technology for last mile fulfillment use cases. Our APIs for order planning, assignment, tracking, and verification learn from ground truth data to improve operational KPIs including job completion rate, workforce reliability, productivity and on-time delivery. Customers across all inhabited continents use HyperTrack’s comprehensive suite of APIs, SDKs, and webhooks. For more information, visit www.hypertrack.com.
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