The CEOs of most logistics providers are bullish about the financial prospects of their companies over the next one and three-year periods and are most optimistic about business in Asia, according to a recent report.
The CEOs expect their business in the Asian market to grow 15.8 percent in the next year, as compared to 10.8 percent in North America and 8.4 percent in Europe, according to the 18th Annual Survey of Third-Party Logistics Providers. The survey is based on responses from the CEOs of 36 third-party logistics companies across North America, Europe and Asia-Pacific whose companies were responsible for generating approximately $58 billion in revenue in 2010.
The survey found that average revenue growth projections over the next year by the companies that responded to the survey are 10.8 percent for North America (compared to 10.4 percent in 2010), 8.4 percent for Europe (7.2 percent in 2010), and 15.8 percent for the Asia-Pacific region (22.5 percent in 2010).
The average three-year company growth projections were 10.3 percent for North America (10.6 percent in 2010), 9.1 percent for Europe (8.3 percent in 2010), and 14.6 percent for the Asia-Pacific (19.5 percent in 2010).
One-year regional third-party logistics industry revenue growth projections averaged 6.8 percent for North America (7.3 percent in 2010), 6.1 percent for Europe (4.8 percent in 2010), and 9.0 percent for APAC (15.4 percent in 2010). The average three-year regional 3PL industry growth projections were 8.0 percent for North America (7.8 percent in 2010), 6.3 percent for Europe (5.4 percent in 2010), and 10.3 percent for APAC (12.9 percent in 2010).
European and Asia-Pacific CEOs reported a shortage of managerial and operational talent in the industry as one of the major problems in their regions, according to the survey released Tuesday at the Council of Supply Chain Management Professionals Annual Global Conference.
The companies that participated in the annual survey are: Agility Logistics, Cardinal Logistics, Caterpillar Logistics Services, CEVA Logistics DSC Logistics, DHL Exel Supply Chain, Genco Supply Chain Solutions, Kuehne + Nagel Logistics, Menlo Logistics, MIQ Logistics, Penske Logistics, Schenker, Schneider Logistics, Transplace, UPS Supply Chain Solutions, UTi Integrated Logistics, Werner Logistics, Yusen Logistics and Wincanton.