For supply chain professionals, 2018 was a year unlike any other as they tried to navigate through tight transportation capacity and high rates. Now shippers and carriers alike are trying to dig their way out of the aftereffects and bring back a sense of normalcy.
Roaring demand for transportation and logistics services is causing capacity to tighten and wages to rise, pushing business logistics costs to 7.7 percent of U.S. GDP in 2017. Can shippers find the capacity they need while fighting higher costs?
U.S. logistics costs in 2016 fell for the first time since 2010, logistics costs as a percentage of U.S. GDP dropped to its lowest level since the Great Recession, and transportation spending fell even as energy prices rose. Add technology to the mix, and it's anyone's guess what will happen next.