Industry experts are saying that although space has freed up within the Big 3’s (FedEx, UPS and USPS) networks, shippers continue to diversify their parcel carrier mix. Increased capacity and more robust services from regional carriers are driving this trend.
According to Supply Chain Dive, FedEx and UPS enacted rate increases for 2023, and because alternatives in the parcel delivery sector have grown, there’s plenty of cost-effective capacity for Shippers and 3PLs to utilize.
For Chris Jolly, consistent communication with shippers and carriers goes hand-in-hand with customer loyalty for brokers in the shipping industry. “You'll never get punished for doing the right thing,” he said.
In Episode 7 of Banyan’s Tire Tracks™ podcast, Jolly, broker and podcast host also known as The Freight Coach, discusses his blue-collar beginnings, being real about shipping in his podcast, and customer loyalty and communication.
The unpredictability of the supply chain over the past few years has made technology a critical component in shipping operations. Some Shippers and 3PLs were quick to employ multiple solutions to adapt to changes and manage their freight. However, some of those solutions didn’t integrate with each other or failed to deliver the functionality needed to maintain efficient shipping operations.
As the economy tightens, these companies are looking to scale their technology to ensure they’re operating more efficiently. With so many options creating noise in the market, Shippers and 3PLs need the following features and functionality from their digital transportation management solution.
Research-consulting firm Mastio & Company gathers feedback from Shippers to ensure that they get the best experience with their over-the-road shipping carriers. The data collected helps carriers improve their services to provide a better end-customer experience and a more loyal customer base.
In Episode 6 of Banyan Technology’s Tire Tracks™ podcast, Kevin Huntsman, President of Mastio, explains how Shippers can create a better carrier experience using data and technology.
“The shift for carriers is the migration to technology,” he said. “If you think about carriers 15-18 years ago, it's all by the gut. There was no technology. So, what they've done is they have leveraged this technology and utilized it in their business. And that's where companies like Banyan have been very successful in offering an incredible service to the industry.”
Recently, the Transportation Intermediaries Association (TIA) released the 2023 Freight Outlook a Delicate Balancing Act for Shippers, 3PLs, Carriers outlining the path ahead. The annual report addresses expectations for the freight market in 2023 with technology being the biggest trend for moving the industry forward despite a weakened economy and lingering effects of an unstable supply chain.
Due to fluctuating shipping costs and the uncertainty of the freight trajectory, Shippers and 3PLs need a reliable technology solution with access to the best shipping rates for all over-the-road (OTR) modes to make the right shipping decision for every load. Finding the right partnerships to increase options will help save time and money while attracting new business.
The unpredictability and uncertainty of the past few years has forced many industries to reassess their business strategies quickly to adapt to the changing world. Many supply chain businesses have had to accelerate their adoption of technology, fast-forwarding their long-term plans to either implement or update their digital approach.
Historically, some over-the-road (OTR) shipping modes have been slow to adopt API connectivity as a way Shippers and 3PLs can book freight. However, the events of the past few years have forced many businesses to embrace technology and, in some cases, even accelerate the adoption of technology in the OTR shipping space.
For the past year, the Banyan Technology Team has published some exciting content for Shippers and 3PL professionals to share our supply chain and shipping industry insights. We are listing our Top 5 favorite blog posts from 2022 that can help shape your outlook for 2023:
