The year hasn’t come to an end yet, and the industry has seen some trends over the last several months that have had an impact on the industry. Here’s a roundup of what you need to know:
Equipment manufacturers and auto part suppliers are working together. While at one point, manufacturers and suppliers would not share information on shipment space, some companies are working together to share space in trucks. Some are reluctant to share trucking space and shipments, but companies are resorting to using available room on trucks outside of the automotive sector to maximize space.
Sharing maximizes productivity and cost. If the trend continues, carriers may benefit from added cost savings.
Efficiency requires flexibility. Carriers must focus their attention on investing in the right assets for the job, not focusing on what competitors are doing. That’s why carriers are working more diligently to keep customers satisfied by listening to what they need as opposed to following what other companies are doing.
Cost remains a concern. What hasn’t changed is the cost concern among shippers. Carriers and shippers understand that fuel, driver expenses and shortages are a problem, and are more conscious as a result.
Increased costs are on the way. Regulation in the industry, including local and federal mandates, could drive costs up for truckers and shippers.
Partnerships are crucial. The carriers that have earned recognition in the industry can have a significant impact on many companies. Choosing the right carrier will maximize efficiency. Making an informed decision on choosing a carrier is important as a result.
Inbound logistics, Keith Bondo, 2016