Sharing economy is a popular trend that has also caught on in the transport industry due to many benefits for company owners and drivers. Not without reason this phenomenon is referred to as the trend of the future. Due to huge economic benefits, this trend has gained plenty of supporters, also among owners of transport companies and professional drivers. The main concept of sharing economy consists of sharing various items instead of buying them for ownership.
What is sharing economy?
Economy of sharing e.g. vehicles belonging to the company fleet is a way not only for savings and smaller carbon footprint for the ecological environment, but also a possibility to increase operational capabilities in a logistics company. Moreover, sharing economy in the logistics industry can also be used to share warehouse spaces.
Does the sharing economy trend have a chance to catch on in the TSL industry for longer?
The transport industry constantly relies on developed modern technologies, so the sharing economy trend also has great potential for both transport company owners and drivers employed in them to draw from it. Already now in many logistics companies one can easily notice benefits associated with using sharing economy.
An example of applying sharing economy in practice in the logistics industry could be renting unused warehouse space or car space in the case of LTL transports (less than truck – i.e. in the case of transporting loads that due to small gauge do not use the full cargo space of the vehicle). Using sharing economy of warehouse or vehicle in the logistics industry would make logistics companies not lose costs due to unused space.
Sharing economy in the transport industry – how is it used?
The mentioned solution can also be applied in transport where time counts in particular, i.e. just in time transport for manufacturing or warehouse industries, to avoid costly financial losses due to stopped production in a situation where a given part is not delivered to the warehouse.
This type of services regarding sharing cargo space in trucks or warehouses can also be applied in any industry where delivery time is important.
The last mile stage deserves special attention, on which delivery time of products and costs of goods production very often depend. The impact of this phenomenon on the amount of costs in given industries also has huge significance on the functioning of many businesses, which is why eliminating so-called bottlenecks in the transport industry is so important, to avoid production delays e.g. due to delayed product deliveries.
Is sharing items, warehouse spaces and cars useful for people?
PricewaterhouseCoopers conducted a study concerning people’s perspective in the scope of economy of sharing things. From the study and statements of respondents it is clear that over 80% of people prefer to use someone else’s goods than their own. This explains the popularity of the sharing economy trend.
An interesting fact is that as many as 43% of respondents prefer to rent various things than go into debt due to the fact that buying products for ownership is perceived as something that would be a burden for the household budget.
However, as many as 57% of respondents perceive the perspective of using someone else’s items as an alternative to ownership, so people’s opinions are divided when it comes to using this trend. This does not change the fact that in the transport industry using this phenomenon involves many benefits: from possibility of saving time to developing better habits related to organizing space in the warehouse.
Logistics company owners using this solution could fill space in warehouses according to filling indicators. That is why this trend can be used in such a way that transport companies join forces in terms of sharing warehouse spaces, to simultaneously reduce company costs for unused space.
An example of such cooperation between logistics companies was the cooperation of P&G and Tupperware, which decided to join forces to save on carbon dioxide emissions and own company costs. Effect? Reduction of own costs by 15% and lower carbon dioxide emission at the level of 2 million tons per year and increasing cargo space of vehicles up to 85% from 55% before cooperation.
What are the benefits of using sharing economy?
Are you curious why this trend has gained popularity in the last few years? Here are a few most important benefits associated with using sharing economy in practice in the TSL industry and beyond:
- lower operating costs of vehicles belonging to the company fleet,
- possibility of saving space e.g. on company parking lots and in warehouse spaces thanks to sharing a company car or warehouse, which has an impact on limiting financial losses,
- strengthening social bonds between logistics employees and a way to build lasting professional relationships,
- significant reduction of company costs thanks to the possibility of paid sharing of own resources,
- possibility of reducing carbon footprint by using e.g. one vehicle by many drivers on a given day,
- possibility of establishing new cooperations thanks to which achieving common goals will be easier,
- possibility of increasing operational efficiency in logistics companies thanks to cooperation on sharing resources and a chance to save money on own company costs,
- possibility of saving funds on sharing goods and using them for further investments e.g. development of company fleet or construction of further warehouses or increasing employment in the company.
More and more logistics companies notice benefits from cooperation as part of the sharing economy trend and decide to use such cooperation. It is worth realizing how many benefits you can also gain when you decide to use such cooperation. It is primarily a chance to use goods of others to earn more, optimize work time and use it more effectively, as well as avoid financial costs associated with lack of warehouse space rental up to better relationships between employees and greater awareness of how much you can gain and save at the same time.
Sharing economy in the logistics industry – why is it worth using this trend?
Using the potential of a modern trend, which is sharing economy in own transport company involves many benefits: from better relationships on the line boss–fleet manager–driver–warehouseman, up to more optimal use of warehouse space in the warehouse and better relationships between employees and drivers. Sharing economy is also a way for huge savings in business and developing mutual benefits for both the logistics company and its customers.