Barclays and Moore Stephens survey reveals more companies are embracing technology.

Posted by Road Tech UK 17.11.16

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A survey undertaken by specialist research agency Analytiqa on behalf of Barclays and Moore Stephens has recently been released.

Respondents of the survey included some of the industry’s most senior decision-makers and despite the uncertainty over the UK economy and the risks associated with Brexit, confidence amongst UK’s logistics businesses has risen according to the survey.

Barclays and Moore Stephens UK Logistics Confidence Index has revealed that:

  • Confidence in the UK logistics sector is at its highest point since the second half of 2015

  • 43.9% believe that business conditions have stayed "the same" over the last six months

  • 37.4% believe that business conditions have been "somewhat more difficult" over the last six months

  • 48.6% expect the outlook for the sector to be "somewhat more difficult" in the next six months

  • 58.9% of operators expect their revenues to increase by 2.5%-5.0% next year

  • 43.9% expect to "increase headcount" over the next six months

Whilst the survey demonstrated some positive responses, it also highlighted some key issues facing logistics businesses in the coming six months:

  • 40% feel that "customer price pressure" will be the most important issue to face their business

  • 35% believe a "lack of skilled staff" will be the most important issue their business faces

  • 8.7% are concerned over shortage of "warehouse space"

  • 43.7% perceive a "marginally negative impact" to Brexit outcome.

Reflecting on these results businesses were also asked how important is the use of technology to their business: help your business gain a competitive advantage?

  • 60.2% felt that the use of technology is "very important" in order to help their business gain a competitive advantage

  • 33% thought it is "reasonably important" to help their business gain a competitive advantage

It is clear from these results that technology for the UK logistics sector is seen as a major player to gaining a competitive advantage and avoiding unproductive price wars.

The full report can be read here.