As with many industries today, the transportation industry is facing mounting challenges and must find solutions to them going forward. It is important for those in the industry to consider the key challenges they may face in the coming year, as well as what they might need to do to minimize the impact, create a positive outcome, or otherwise change how things work to manage all of them. Some of the key challenges the transportation industry will face include the following.
Supply Chain Disruptions
A few years ago, during the pandemic, supply chain disruptions were a major concern, as it was challenging to get supplies that may be needed and to make sure everything was delivered to the destination on time. Though the pandemic has subsided, there are still supply chain disruptions occurring. They can occur for numerous reasons and may impact everything from basic supplies to being able to obtain commercial truck parts. The transportation industry must attempt to predict the potential disruptions and work on ways to mitigate them moving forward.
Increasing Costs and Expenses
Inflation is hitting the transportation industry, just like everywhere else. Parts are getting more expensive, it costs more to obtain supplies, and it even costs more to purchase fuel. The rate of inflation can vary significantly, but the fact is, prices will continue to increase at some rate over the coming year, so it is a good idea to be prepared. Those working in transportation may look for less expensive suppliers or look into other cost-cutting measures to reduce costs despite the inflation. It is important to start working on this now to help minimize the impact inflation can have in the coming years.
Labor Shortages
Recent years have led to labor shortages for the transportation industry, and many different companies are impacted by it. This is not something that’s going to disappear quickly, so those in the transportation industry must look into ways to reduce their shortages and ensure there are enough professionals to get the job done. This may look different for each company, but there are some solutions available, like increasing hiring incentives, to hire more workers to handle the jobs. They may also want to look into offering training for new drivers, using automation or AI to reduce the workload of non-driving positions, and more, to make sure there will be enough workers to get everything done.
Automation and AI Adoption
Automation is increasingly being found in the transportation industry, whether that’s automating tasks that don’t need someone to handle them or considering autonomous vehicles to deliver products and supplies. AI is also increasingly being used to help with logistics, data analysis, and more. Though these can be beneficial for the transportation industry, there are downsides to consider, too. Those in the transportation industry will want to consider the implementation of new technology carefully to help minimize any negative impacts.
These are just some of the challenges that the transportation industry is going to face in the coming year and, potentially, far into the future. It is crucial for those in this industry to start considering each of these challenges and what they can do to help create a better outcome. Look into each of the challenges now to start brainstorming ways to minimize the impact or create a better future
