Transport and Logistics (T & L) is an important area of concern for the GCC (Gulf Cooperation Council) region. The revenues in field are slowing. One of the reasons for this is that crude oil remains one of the major items supplied, and global crude prices have slumped. Costs have spiraled up, while adoption of technology remains low compared to a global average. Fortunately, new innovations are taking place in this industry to stem the tide. This situation is being tackled through varying approaches among the GCC member states. Saudi Vision 2030 for example seeks to increase the participation of the private sector to make things more efficient. The UAE has made major concessions for business innovations using technology to reduce operating costs by 2021. The GCC members overall agree that the business objectives hold the prime focus, followed by use of technology. The latter is only to facilitate the former. Existing business models needredesigning. Danish logistics giant Maersk for instance uses algorithms to gauge real time business intelligence on costs and scheduling errors. Another area of focus is to improve the overall customer experience. Similarly, new business models or engagements need to be put in place

.Source:https://www.strategyand.pwc.com/reports/putting-gcc-transportation-and-logistics-in-the-drivers-seat

Uploaded Date:10 August 2018