Disruptions to the supply chain in recent years have forced shippers to adapt, try new things, build new partnerships, and moving forward many will be more resilient by having new options on the table. The e-commerce boom is anticipated to flatten, and both shippers and carriers now plan to better prepare for any unforeseen disruptions.
The latest Cost of Congestion study, published by the American Transportation Research Institute, reports traffic congestion cost the trucking industry $94.6 billion in 2021.
Open Telematics Framework is a significant development in the trucking technology space as it eliminates the complex customization and reprogramming efforts that have historically burdened developers and incorporates the latest cybersecurity capabilities.
While 2022 was a challenging year for trucking, there was still growth in revenue, tonnage, employment, and other areas. In mid-2023, a number of data points appear to indicate that the current freight cycle is bottoming out. How fast it will head back up is another question.
The latest release of ACT’s For-Hire Trucking Index shows continued improvement in freight volumes, pricing, and driver availability. This month’s reading still shows a gradually improving volume trend.