Introduction
The courier and delivery industry has significantly impacted the business world. The industry involves parcel and package delivery from one destination to another. The popularity and reliability of this industry result from the speed at which parcels and packages are delivered to their final destinations. The industry has been implementing unique operation strategies to remain competitive and reliable. Speed and positive customer relations have been cited as the driving forces behind the success of the courier and delivery industry. Besides, there are other major key success factors that have facilitated high productivity and performance in the transport and delivery market. The following paper highlights and explains how key success factors, including product attributes, industry competencies, competitive capabilities and market achievements facilitate the future competitive edge of the courier and delivery industry.
Product Attributes
Product attributes refer to a product’s characteristics and physical, tangible features that draw customers’ attention and increase their preference for the product. The product attribute has played a significant role in establishing the courier and delivery industry and making it reliable and widely used for delivering parcels and packages. The courier and delivery industry offers a wide range of delivery services, with delivery vehicles that vary in size (Rajendran, 2021). The courier and delivery industry relies on motorbikes for light parcels and packages. Due to the wide range of delivery mechanisms, customers may choose the one that best suits them and the parcel or package they intend to transport. Due to the wide range of delivery vehicles and motorbikes, the industry’s popularity has significantly escalated among the people.
The efficacy of the courier and delivery industry has been dramatically impacted by the wide range of delivery vehicles and motorbikes. The well-structured delivery channels enable the industry to offer timely and same-day delivery, thus, increasing customer satisfaction and maximizing performance and profitability. The courier and delivery industry rarely delays the delivery of its customers because it has integrated technology into its operations (Rajendran, 2021). Most of the orders for the industry are done only and tracked until the parcel or package reaches the intended customer. The industry has also grown financially because of increased orders from customers. The industry’s financial stability enables it to overcome contemporary issues that might derail it from achieving its goals and targets.
Competencies
The courier and delivery industry has remained competent in its operations, ensuring high customer satisfaction. One of the competencies of the courier and delivery industry is safety precautions on products ordered by customers. The industry ensures that products in transit are maintained safe, and it accepts liability in case of damages and losses. The safety precautions utilized by the industry have increased its popularity and reliability in the market (Jin, 2018). Another competency of the courier and delivery industry is superior record-keeping skills. Record-keeping is essential in the courier and delivery industry because it deters the loss of items or products and is used for reference in case of a dispute. The industry records and maintains details of all its delivery through modern technology. As a result, the loss of items or products is a rare phenomenon in the industry.
The courier and delivery industry is characterized by fast delivery times. The industry can offer same-day deliveries, especially for perishable products or packages and parcels that are urgently needed. The competence of fast delivery times is coupled with outstanding routing skills that enable the industry to deliver goods and products to inaccessible areas (Jin, 2018). Many delivery mechanisms, from vehicles to motorbikes, are used; thus, the industry has easily accessed remote areas. The competencies of the courier and delivery industry have seen it grow and become financially stable amid all the current global market crises.
Competitive Capabilities
Competitive capabilities help companies to establish close and excellent relationships with their customers. The courier and delivery industry has several competitive capabilities that make it stand out in the market. Cost leadership is a competitive advantage prevalent among companies in the courier and delivery industry. The courier and delivery industry offers cost-friendly services to its customers. Besides, the industry is flexible and allows cost-effective negotiations that ensure high customer satisfaction (Wang et al., 2020). Apart from having excellent and flexible cost variabilities, companies in the courier and delivery industry establish strong alliances with other logistics companies to ensure a sufficient supply of delivery mechanisms like vehicles and motorbikes. The cost-friendly services offered by companies in the courier and delivery industry have seen huge profits and financial stability for the companies.
Differentiation has been a critical competitive capability in the courier and delivery industry. Differentiation entails developing a unique strategy of offering services to customers to ensure that their needs and demands are fully met. The courier and delivery industry has developed unique customer-interaction strategies that ensure customer satisfaction is met and issues in the industry are fully resolved (Wang et al., 2020). The industry has a unique way of communicating to its customers and tracking the delivery process of parcels and packages to ensure they reach their final destinations safely and within the stipulated time.
Market Achievements
The courier and delivery industry has had numerous market achievements that have enabled it to stand out in its operations. The first market achievement of the courier and delivery industry is the speedy delivery of parcels and packages. The industry has been identified and praised for delivering goods and services on time, which increases customer satisfaction and helps the companies to maximize performance and profitability. The second market achievement of the courier industry is delivery efficiency (Dwianto & Purnamasari, 2018). The courier and delivery industry has efficiently taken orders from its customers and scheduled them according to their specifications. Therefore, the courier and delivery industry is reliable to its customers, increasing its chances of becoming more profitable.
The third market achievement of the courier and delivery industry is the use of modern technology. The technological achievement has been instrumental and a determining factor in the growth and development of industries. The courier and delivery industry uses modern technology in all its operations, enabling it to increase customer data safety (Dwianto & Purnamasari, 2018). The use of modern technology also helps the industry to offer timely delivery and maintain constant communication with its customers. Besides, modern technology is used for advertising and marketing the services offered by the industry, increasing its market value and profit margins.
Conclusion
The courier and delivery industry has processed in the transportation of parcel and goods to a customer’s point of convenience. The success of this industry is attributable to key factors such as product attributes, competencies, competitive capabilities and market achievements which shape its competitive edge. In product attributes, the industry offers courier services for goods ranging from small to large such as vehicles. Besides, safety precautions and speedy delivery constitute the critical competencies the industry possesses, which boosts its prosperity in the market. In addition to the two factors, this industry uses strategies such as cost leadership and flexibility to overcome the stiff competition in the market. Lastly, the application of modern technology and use of fast mode of transport for speedy deliveries has upheld the market achievements of the courier and delivery industry.
References
Dwianto, A. S., & Purnamasari, P. (2018). Analysis the influence of service quality on customer satisfaction of domestic postal parcels at Kantor Pos Banjarmasin. Proceedings Universitas Pamulang.
Jin, H. W. (2018). Restructuring parcel delivery network by considering dynamic customer demand. Journal E&M Economics and Management (E&M), 9(2), 83-96.
Rajendran, S. (2021). Improving the performance of the global courier & delivery services industry by analyzing the voice of customers and employees using text analytics. International Journal of Logistics Research and Applications, 24(5), 473-493.
Wang, M., Asian, S., Wood, L. C., & Wang, B. (2020). Logistics innovation capability and its impacts on the supply chain risks in the industry 4.0 era. Modern Supply Chain Research and Applications Journal, 29(5), 73-93.