Now, more than ever, data and its effective use is at the heart of any successful business. And this is particularly true when it comes to the work of logistics businesses, which operate in one of the economy’s most competitive and fast-moving sectors.
To help organisations maximise their impact while minimising their costs, understand the challenges within the industry, support and inform future planning and, above all, aid resilience, business group Freight Transport Association Ireland has launched its sixth annual Manager’s Guide to Distribution Costs, at the FTA Ireland Sustainable Transport Seminar in Enfield.
“Ultimately, data – and good, reliable data in particular – governs every business in our industry,” says FTA Ireland’s Chief Executive Aidan Flynn, “and helps to shape and motivate every business decision that our members make. Our members operate in one of the most competitive sectors of the economy, and it is vital that they are able to maximise the impact of their work, while minimising costs, to help drive the profitability and resilience of our sector.
“Logistics and freight employs more than 100,000 people across Ireland, operating at the heart of every economic transaction and keeping the country supplied with everything it needs. Despite the challenges that our member businesses face, from the COVID-19 pandemic to Brexit and beyond, it is vital that operators can work as cost-effectively as possible to deliver for the country, and the customers who rely on our work to keep Ireland’s economy working as efficiently as possible. And to do that, it is imperative that they are as well informed about cost pressures as possible.”
Published in partnership with Bank of Ireland and ENPROVA, in conjunction with specialist research agency Analytiqa, the annual report acts as a reference for decision makers across the logistics sector as well as those that procure third party services, to inform and understand the trends affecting distribution costs and aid future business decision-making.
“In recent years, Ireland’s logistics businesses have become more agile and effective,” continues Flynn, “but this can only continue if the industry is well informed and uses the data available to the best of its abilities. Solid information provides a bedrock from which to innovate and develop the industry, at a time when competition has never been more intense. This is a must-read report for anyone running a business in our sector, not least as we face the challenge of becoming more sustainable, the financial cost of which is concerning almost 80% of those surveyed for this report. With an average operating profit for those in the sector of just 6.4%, effective cost management has to be the leading priority for our industry, and the guide provides help and advice on how to do so.”
Copies of the guide are available to members of FTAI at https://ftai.ie/cost-of-distribution/ or via the QR code.
