Trucking rates are often an unpredictable element of freight transportation. Because they are directly influenced by the market, trucking rates can be considered a reliable barometer of broader economic conditions. In times of economic prosperity, the surge in consumer spending propels freight demand, driving up rates as capacity becomes strained. Conversely, during economic downturns, reduced…
Month: November 2024
2024 has been a year of transformation for logistics and supply chain management. On the supply side, there have been many challenges including inflation, labor disruptions, global friction, and unpredictable demand. Downstream, warehouse space rates and availability have loosened, while transportation market costs remain at historically low levels. Logistics costs should be top-of-mind for supply…
Stopping bad actors requires industrywide collaboration With holiday shipping ramping up, freight fraud is top concern for players across the industry. While companies fight all types of fraud throughout the year, strategic theft and straight theft are particularly prevalent in today’s market. Cargo theft incidents were up 33% year over year in the second quarter…
This article was originally posted on LinkedIn by Uber Freight VP of Emerging Products Brooks McMahon. If you’re in logistics, you know: Transformation is constant. Evolution is a must. Resilience is essential. This is an especially challenging time for brokers. As of September, the number of freight brokerages dropped by 16.7% compared to 2022. As…
Q4 2024 freight market update: Key insights and recommendations for shippers and carriers Updated November 7, 2024 As the end of the year approaches, logistics teams will need to begin preparing strategies and reviewing forecasts for 2025. The key to staying ahead of disruption and remaining competitive now and in the new year is to…