BOSTON, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Tive, the global leader in supply chain and logistics visibility technology, today announces the results of its second annual survey of supply chain professionals. “The State of Visibility 2024” survey was conducted in January 2024 by Tive, Shipping & Freight Resource, Supply Chain Radar, and Charlie Pesti. The complete survey report is currently available for free download.
In 2023, only 25% of respondents were utilizing Internet of Things (IoT) devices for real-time shipment tracking. This number more than doubled in 2024, with 53% currently using these solutions—signifying a robust growth in the adoption and integration of visibility technology. An additional 25% of 2024 respondents indicated plans to adopt real-time visibility tracking within the next 12 months—further evidence that real-time visibility has shifted from a competitive advantage to a fundamental operational necessity and customer requirement. This upward trend underscores a growing consensus on the indispensability of real-time visibility when it comes to meeting customer demands for transparency and operational efficiency.
“As our State of Visibility 2024 survey reveals, the landscape of modern supply chain operations is increasingly shaped by unprecedented challenges—from geopolitical tensions to escalating security risks—and the recent Red Sea shipping attacks underscore the urgency for robust visibility solutions,” said Krenar Komoni, Tive CEO & Founder. “In today’s ever-changing environment, real-time data isn’t just a convenience; it’s a strategic imperative for preempting and mitigating disruptions effectively as well as supporting our customers’ sustainability efforts. At Tive, we remain committed to empowering businesses with the insights they need to navigate these complexities—and to building resilient, agile supply chains for the future.”
Additional survey findings include:
- 89% of respondents cite that digital transformation of their supply chain and logistics operations is a priority for 2024—and 75% believe that real-time visibility is a key priority within their broader digital transformation efforts.
- 77% of respondents believe that real-time visibility is a “must-have,” identical to data from the 2023 survey.
- 53% of respondents are now utilizing Internet of Things (IoT) devices for real-time shipment tracking, up from 23% in 2023.
- Only 24% of respondents currently have visibility into 75-100% of their total shipments, and 45% of respondents have visibility into less than 50% of their total shipments.
- 80% of respondents cite that loss prevention and cross-border shipping challenges are the main drivers behind their need for real-time visibility.
- 47% of respondents reported monthly cargo losses of $5,000 or more.
The survey captured insights from across multiple levels of seniority, including 7% representing the C-Suite, 23% coming from Directors/VPs, 44% from managers, 15% from employees in operations and analyst roles, with “other” filling the remainder.
The survey included a diverse representation across industries, with Logistics Service Providers (LSP)/3PLs leading at 37%, followed by high-value retail/consumer goods/luxury goods at 18%, and food/perishables at 15%. Other sectors, including pharmaceuticals/life sciences at 3%, round out the remainder. These industries are often heavily targeted by theft; there was a significant escalation in these incidents in 2023, surging 57% over 2022—and resulting in nearly $130 million in losses.
Survey responses came from professionals across many company sizes. 49% of respondents were from enterprises (1001+ employees), 10% from large companies (501-1000 employees), 20% from mid-sized companies (101-500 employees), and 21% from small companies (1-100 employees). This distribution underscores the varying visibility needs and challenges—and spotlights how critical these solutions are regardless of company size.
In addition to providing the survey report to industry experts, Tive is hosting a free roundtable webinar to deep dive into the results. This event is open for registration and is scheduled for Tuesday, March 12 at 11:00 am ET. The webinar will also be available for on-demand access after the fact.
For more information about the “The State of Visibility 2024” survey and to download the full report, please click here.
About Tive
Tive is the global leader in supply chain and logistics visibility technology. More than 600 global shippers, logistics service providers, and retailers use Tive to monitor shipment location and condition in real time, gain actionable insights, and ensure end-customer satisfaction. Tive’s cloud platform, patented sensor technology, and 24/7 Live Monitoring services reduce excursions and delays, minimize rejected loads, and decrease theft, damage, and spoilage. Customers count on Tive to ensure that shipments are delivered on time and in full—because every shipment matters. For more information, visit www.tive.com.
Press Contact:
Lane Kearney
Corporate Ink for Tive
tive@corporateink.com
