European executives plan to maintain or increase their spending for supply chain technology in the next year.
The European Logistics Technology Report indicates 88% of European executives will maintain or increase spending for supply chain technology despite economic woes, says the report's author, eyefortransport.
The outlook in North America is less optimistic. A similar survey there indicates over a third of executives expect to decrease IT investment. On the flip side, however, that means two thirds will maintain or increase spending, a substantial number, though lower than European counterparts.
Shippers responded that the economic crisis was affecting their business with 28% saying it was having a bad to severe effect. Logistics providers agreed (94%) but a smaller number (22%) said the effect was bad to severe. And despite that, 73% of transport and logistics providers expect to see business growth in the next year.
Companies expecting to see growth in the coming year are more likely to increase technology spending.
Asked what solutions have yielded the best return on investment, survey respondents give highest marks to warehouse management systems and transport management systems.
A key driver behind technology decisions is the ability to improve operational efficiency.