ABOUT EVENT / Overview
With the global logistics market growing rapidly and is expected to generate $15.5 trillion in revenues by 2024, the Middle East and North Africa (MENA) region is fast emerging as the hub of logistics industry.
In terms of volume, the global Transport and Logistics industry is expected to reach 92.1 billion tons by 2024. Third-Party Logistics (3PL) market is expected to grow at a compound annual growth rate (CAGR) of more than 5% by 2020. Factors such as the rapid globalization, increasing trade volume, and the revival of the global economy are some of the major contributing factors to the growth of the 3PL market.
We are targeting access and insight to $190bn market as The Kingdom of Saudi Arabia is currently developing its multimodal transportation infrastructure, led by a comprehensive supply chain and logistics network with the funds to be invested in the sector under Vision 2030 and the National Transformation Plan (NTP) 2020.
Transportation plays a lead role in the firm’s pursuit to improve supply chain flexibility. Successful transportation moves are heavily dependent on utilizing the right tools in the right way. As freight transportation has become more complex due to the global nature of the supply chain, more sophisticated methods for strategic, tactical, and operational decision making are needed.
AREA 1: LACK OF PLANNING – Tackling a current of rising transportation costs. Keeping transportation costs in line with the use of new transportation technology. The use of intermodal shipments. Improved route planning tied with network optimization/redesign is a way to offset a rise in transportation costs. This timing leaves a tremendous amount of opportunity on the table, and it potentially enables competitors to close or increase their competitive advantage if they are reviewing their network design more frequently.
AREA 2: INFLEXIBLE NETWORK – At an operational level, cost-to-serve prices affect transportation choices. Selecting a transportation mode is based on three key factors: freight costs, lead or transit time requirements, and reliability. Reducing supply and order-fulfilment lead time, increasing collaboration with key suppliers
AREA 3: INTERNAL FOCUS – Determining how to increase supply chain flexibility and optimally plan for future impacts to the network is challenging for any logistics manager. Engaging suppliers and customers in supply chain initiatives, especially at the planning stage, has the potential of improving everyone’s efficiency and effectiveness.
Avoiding the logistics and transportation Bermuda Triangle isn’t that difficult - it means separating folklore from reality. Successful navigation requires planning in advance of potential hazards and working with partners to maximize current efforts.
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