Shifts in the economy have had a lasting effect on over-the-road (OTR) shipping. As productivity in manufacturing declines and freight volumes level off, the industry has prepared for maintaining heightened service levels through the adoption of technology.
Recently, several carriers announced general rate increases of between 5-6% for LTL shipments. According to FreightWaves, the increases are made to cover the cost of inflation and to make investments in real estate, equipment and technology.
Carriers in the over-the-road (OTR) shipping market are facing driver shortages of about 85,000 drivers every day, and with an aging workforce and other regulatory pressures that gap is quickly widening to further reduce the labor pool.
Last week, thousands of Taylor Swift fans were booted from online queues while trying to purchase pre-sale concert tickets from Ticketmaster when the site crashed due to overwhelming capacity issues. Making matters worse, the national ticket seller opted to cancel plans to open ticket sales to the public later in the week.
In the inaugural episode of Banyan Technology’s Tire Tracks podcast, Transportation Intermediaries Association (TIA) President and CEO Anne Reinke addresses current peak season challenges with host and Banyan Account Manager Patrick Escolas.
Freight visibility is more than knowing where a package is in its journey to its final destination. Freight visibility is most valuable when you use it to make better business decisions and predict and prepare for possible disruptions. Leveraging historical shipping data that can be analyzed to drive and support those decisions is critical when justifying changes to operational processes and responding to supply and demand.
Experts are predicting severe disruptions to supply chains from flooding, power outages and high-wind damage in the aftermath of Hurricane Ian that could significantly impact over-the-road (OTR) freight. They estimate it will take at least nine weeks for shipping to recover based on the amount of damage to both buildings and inventory sustained by Shippers in the affected area.
As peak shipping season 2022 gets well under way, a recent survey conducted by Supply Chain Dive has identified five predictions that Shippers and 3PLs need to understand before implementing solutions to manage the heightened over-the-road (OTR) shipping season. In this blog, we analyze those insights below and offer solutions and best practices for managing any shipping environment.
Expectations for fast, flexible, and reliable shipments are higher than ever and will continue to grow over the next few years. To satisfy growing demand and help streamline the movement of freight, Shippers and 3PLs have turned to technology to provide better visibility and management of their over-the-road (OTR) shipments.
As inflation hits industries across the country, the supply chain continues to see rising costs impact shipping due to current economic conditions. Fuel prices remain elevated and carrier rates continue to rise. According to CNBC, the supply chain is improving and past the worst, but rates will remain well above pre-pandemic levels for the rest of 2022.
Heading into what is typically known as “peak” shipping season, 3PLs and Shippers are seeking ways to counter the rising carrier rates and fuel surcharges. They are finding the best way to do so is to implement or switch to an innovative technology solution that allows them to rate and execute shipments from a single screen.
