Section of (GUIDE: Growing your fleet and logistics business)
Determine what business goals the digitalization strategy should support. This may include reducing costs, improving efficiency, or enhancing customer experience.
Identifying business goals for a logistics company involves several steps. Here are some suggestions on how to get started:
Define the company’s mission and vision:
The mission and vision statements should describe what the company stands for and what it aims to achieve. They should provide a clear direction for the company and help to shape the goals.
Identify the key performance indicators (KPIs):
KPIs are metrics that are used to measure the performance of the business. For a logistics company, these might include metrics such as on-time delivery, inventory turnover, and cost per shipment.
Consider the industry trends and challenges:
It is important to understand the external factors that may impact the logistics industry. Consider the current trends, challenges, and opportunities in the industry to help guide the business goals.
Analyze the competition:
Look at what other logistics companies are doing and how they are succeeding. This can help to identify areas where the company can differentiate itself and create unique goals.
Consult with key stakeholders:
Talk to employees, customers, suppliers, and other stakeholders to get their input on what the company should be striving to achieve.
Develop specific and measurable goals:
Based on the information gathered from the previous steps, develop specific, measurable, achievable, relevant, and time-bound (SMART) goals that align with the company’s mission and vision.
Examples of business goals for a logistics company might include reducing transportation costs, increasing delivery speed, improving inventory accuracy, expanding into new markets, and enhancing customer service.