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Given recent developments in the global economy due to Coronavirus, the once stable industry has been thrown into turmoil. And with price transparency, clients' uncertainty, deregulation, and fluctuating fuel prices on the cards, competition amongst the crisis is set to curate a cocktail of issues for this sector.
And we have the remedy. Whilst the transportations industry has always relied on up-to-date digitalisation and technology and has even been a vital force is leading the world in tech-terms, failing to keep up with it threatens the existence of your business.
Turbulence is forecasted - change is guaranteed.
Digitalisation is infamous for keeping a close eye on the transport industry, but by no means is innovation is to go amiss.
R&D is similarly known for taking many years to complete, but with digital technologies that can provide data-driven insights into your business on your side and reduce the development and designing process of product creation, you can steadily speed up. This is especially vital given the latest global shifts that have rocked this sector to its foundations. And by streamlining each side of product innovation and commercialisation, improved efficiency can also be met from transport planning to the individual journeys.
An overhaul might seem unnecessary for such a quick-paced industry, but military precision starts with innovation.
Running a transport firm is by no means a simple feat. In fact, the challenge behind keeping the sector up in the air is down to one thing: meeting the customer’s expectations and keeping them happy. At the fore of achieving this for your business is sourcing an operating model alongside asset management that aligns your operations with your customers, and this pivots on a data-driven approach.
By bringing together the complex amalgamation of data between customer service agents and colleagues meeting the customer’s needs at each and every stage of the buying and travelling process can be achieved. We can provide that from our senior consultant to your managing director.
On top of this, businesses operating in the sector are fuelled by immense volumes of data that can be far too much to cope with at one time, especially when being translated for the customer. Monitoring and controlling it via operational models is key.
Director of Technology, Simply Brands
For those with an ear to the ground, this is also known as a Digital Transformation. A Digital Transformation rethinks how you manage your employees, your client’s and business’ data, and how you carry out your business operations. Or, in simple terms, a DT is the technological revamp your business needs to stay competitive. This is where our transport consulting services come in.
The transportation industry stands is celebrated as a unique and fundamental industry to societal operations, bringing together technological innovation and the need to satisfy and protect customers at all costs. But it’s the dual-focus which confirms that the sector is due an intense digital transformation.
Alongside this, surviving the instability of this sector brings out this need to strive for loyal customers and innovative methods of communicating with them and your entire team, as well as the innovation required for such forward-thinking technology.
This starts with technologies devoted to that all-important communication alongside smart mobility and autonomous vehicles. In fact, this is where the future of the industry pivots around, ensuring you can find security in the absence of stability, and streamline complex business processes with digital solutions for the entire supply chain.
Only recently has analytics, automation, the cloud, AI, augmented reality and the Internet of Things been integrated into the industry’s technological stance. And only recently have your competitors realised the importance of staying one step ahead. By harnessing third party services and algorithms in particular via our management consulting, cutting out development time and reaping the rewards of digital innovation are much easier to grasp.
SOURCE DATA-DRIVEN INSIGHTS
Using data-driven insights to tap into their exact desires is far more effective than assigning them your customers a number, and guarantees you can personalise the traveling experience.
TEST PRODUCTS AND RECEPTION AT PACE
As with all leisure-focused sectors, the chief perspective looks at the customers’ satisfaction. By ensuring your products will satisfy your customers, you can be sure to score sales thanks to high-speed insights from data.
As the world around your sector changes, altering your transport company to grasp a hold of relevant business operations is key. Detect the exact products and services your clientele expects, and fine-tune your business’s innovation via data-driven insights.
VIA BUSINESS MODELS
At the core of your digital transformation is adapting to the new competitors. Bring a new business model onto your side, and the technological innovation can seamlessly integrate with your project development.
Innovation 9s the buzzword of the future, but putting it into practice is a whole other challenge. Bring your whole business digitally in-step with wider technology changes, and rethink production, supply, and communication with customers with a digital perspective.
AND VIA YOUR BUSINESS’ GROWTH
Central to the industry’s future is that of driving growth to cope with the onset of thriving demand. And growing a business can start with something as simple as planting technology in all departments.
PREPARE FOR EVOLUTION
This is not a fad. This is not a simple change you can consider once. One change can allow your business to move with the ebb and flow of the global commitment to digitalisation.
DIGITALISE YOUR MILITARY PRECISION
You don't need a crystal ball to see the future of your business. Plant technology in all facets of a business and identify issues at pace, and solve them at speed. That’s what you call customer service.
STAY CLOSE TO YOUR SUPPLY CHAIN
Collaboration is a core principle of the industry, but outside of the military perspective often taken, this should stretch into all areas of the business. And the supply chain must be a part of this, too, to guarantee customer care from underground tunnels to up in the clouds.
+ What is the transport sector?
The transport sector includes all the companies that provide transportation services that move people, goods, and infrastructure. It consists of several individual industries including air freight, airlines, marine, road, rail, and transportation infrastructure.
+ Is the transport sector growing?
Prior to the Covid-19 pandemic, the transport sector was cited as the fastest growing sector in the world. However, slashed demand as a result of the Coronavirus has thrown the sector into contention and in some areas is declining.
+ What is the future of the transport industry?
To survive the severe levels of disruption caused by Coronavirus, the transport sector will need to determine the revenue implications of the hit, use training to expand the pool of key workers, and formulate a plan that uses technology to prepare for the resumption of transport services.
+ What are the trends in the transport industry?
For the transport sector, the specific trends that have been pinpointed include integrated travel that cuts out stoppages or checkpoints, digital identities that promote security and improved customer service, AI for mobility via data, analytics, and the cloud, and vehicle technology innovation accelerators.
+ How is technology changing the transport industry?
From automated cars to the latest in safety technology, monitoring the vehicles and infrastructure itself and supporting the passenger’s every need via data-driven insights and analytics has never been easier thanks to the latest technology.
Taking things technological might seem a challenging feat set to put your troops through their paces, but with Lolly Co at every step of the way, navigating the new territory need not be difficult. In fact, with our tech-team assessing your business’ exact needs and walking you through each step, you don’t need a map, either! From our project services to your travel plans, you can find your way around business technology here.
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