After dealing with tight capacity and high freight rates in 2018, shippers thought they’d seen the worst of it, and that 2019 would be back to business as usual. That was true ... until COVID-19 came along.
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?