A survey undertaken by specialist research agency Analytiqa on behalf of Barclays and Moore Stephens has recently been released.
Respondents of the survey included some of the industry’s most senior decision-makers and despite the uncertainty over the UK economy and the risks associated with Brexit, confidence amongst UK’s logistics businesses has risen according to the survey.
Barclays and Moore Stephens UK Logistics Confidence Index has revealed that:
Confidence in the UK logistics sector is at its highest point since the second half of 2015
43.9% believe that business conditions have stayed "the same" over the last six months
37.4% believe that business conditions have been "somewhat more difficult" over the last six months
48.6% expect the outlook for the sector to be "somewhat more difficult" in the next six months
58.9% of operators expect their revenues to increase by 2.5%-5.0% next year
43.9% expect to "increase headcount" over the next six months
Whilst the survey demonstrated some positive responses, it also highlighted some key issues facing logistics businesses in the coming six months:
40% feel that "customer price pressure" will be the most important issue to face their business
35% believe a "lack of skilled staff" will be the most important issue their business faces
8.7% are concerned over shortage of "warehouse space"
43.7% perceive a "marginally negative impact" to Brexit outcome.
Reflecting on these results businesses were also asked how important is the use of technology to their business: help your business gain a competitive advantage?
60.2% felt that the use of technology is "very important" in order to help their business gain a competitive advantage
33% thought it is "reasonably important" to help their business gain a competitive advantage
It is clear from these results that technology for the UK logistics sector is seen as a major player to gaining a competitive advantage and avoiding unproductive price wars.
The full report can be read here.