The logistics and supply chain industry is complex. GlobalTranz is committed to helping businesses and logistics professionals stay knowledgeable and up-to-date on the market and logistics best practices. Every month, we’re sharing trends and news impacting the logistics and supply chain industry. Here are some of the top headlines from October.
Logistics Industry News
UPS Warns Shippers to Brace For Possible Freight Strike
UPS Freight workers rejected a tentative contract last month and are voting on an updated offer from the company November 9-11. A contract extension expires on Nov. 12, after which the 11,000 Teamsters members could go on strike.
US Truckload Shippers Prep for 2019 Rate Increases
Many analysts predict bullish freight markets through 2020. US truckload shippers that faced rising transportation rates in 2018 are preparing for another round — albeit a lighter one — of price increases in 2019. Many are reaching out to logistics providers about new and better solutions to secure capacity.
Transportation & Freight Markets
Driver Shortage Again Ranks No. 1 Industry Issue, HOS Ranks No. 2
For the second straight year, the trucking industry‘s top concern is a shortage of qualified truck drivers, according to the annual Top Industry Issues Report from the American Transportation Research Institute. Hours of service ranked second on the list, retaining its footing as one of the top issues for the trucking industry in seven out of the past eight years.
US Freight Rates Hitting Peaks Before Deceleration
US truck and intermodal rail volumes increased in 2018 and are near their peak levels of the year. Analysts reported that trade policy uncertainties involving US imports from China and NAFTA partners have front-loaded shipments into the US, which has created a noticeable increase in freight volumes for 2018.
Economy & Supply Chain
Consumer Confidence Hits 18-year High in October
According to CNBC, U.S. consumer confidence rose to an 18-year high in October, driven largely a robust labor market, suggesting strong economic growth could persist in the near term.
Retailers Prepare for Make-Or-Break Holiday Peak Season
Retailers are optimistic about a busy holiday season. As we head into the make-or-break holiday peak shopping season, CBRE Group, Inc is reporting many companies will try to cap off a strong year by doubling down on strategies to draw online shoppers into stores.
Technology & Innovation
How Cutting-Edge Technologies are Impacting the Future of Logistics
In a 25-minute conversation with SiriusXM Business Radio, GlobalTranz CEO Bob Farrell shares how cutting-edge technologies and the ever-increasing sophistication of supply chains are profoundly influencing the future of logistics.
Shippers Turn to Technology for Sharper Supply Chain Visibility
Not long ago, supply chain visibility meant knowing where a shipment was a few hours ago. Now, with increased customer delivery demands and volatile freight markets, shippers are looking for real-time “dots on a map” updates, predictive ETAs and a holistic approach to visibility enabling them to make business decisions based on aggregated shipment data.
Regulation, Safety & Labor
ELD Impact Ten Months In
In March, 2018, one month prior to the ELD go-live, trucking companies were surveyed about their predictions on how ELDs will impact the freight industry. Ten months after the ELD Mandate went live, those companies were resurveyed to see how markets and perceptions have adjusted.
Regulatory Roundup: State of Trucking 2018
These are the top legislative, regulatory, administrative, and enforcement topics impacting the trucking industry at large.
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