Companies want transparency from their partners, and end consumers want to know exactly when their packages are going to arrive.
As shippers work to fulfill the orders from Prime Day, there are many lessons that can be gleaned to improve the overall customer experience.
Reefer rejection rates tumbled once again over the past week, and the national reefer rejection average is now below 40% for the first time since the second week of September.
Unlike freight demand, the typical things we see play out on the capacity side of the equation prior to a holiday have not (at least to this point).
are pumping across the country, but it seems routing guides have finally shown signs of improvement. Pair the declining electronic tenders with declining tender rejections, fewer spot volumes, and both contract and spot rates headed lower, the picture of an improving environment can be visualized.
Freight demand is not going to abate in the next few months, and there will not be any meaningful addition to fleet capacity in the meantime.
This white paper explores the challenges presented by the RFP process.
Consumer spending tapered off this week, but the savings rate is so high, Americans have a war chest unlike in any recent period. And, inventories remain depleted across many segments, so the freight industry won’t feel the direct brunt of any shift back to services anytime soon.
Schneider, a premier provider of trucking, intermodal and logistics services, has expanded its digital marketplace – Schneider FreightPower® – to shippers of all sizes.
Service-based spending categories like airlines, lodging and restaurants all were positively impacted by the stimulus, but the top 5 biggest growth segments came in goods. With the roaring consumer economy, blossoming industrial recovery, white-hot housing market and historically depleted inventories, there’s very little outside of severe inflation that could derail this trucking market.
TriumphPay is acquiring HubTran to integrate machine-learning capabilities for a fully integrated payments network for its customers.
The stimulus is providing a huge boost to Americans, who by and large, still remain unable to spend on big-ticket services like concerts, sporting events or amusement parks. The recent stimulus has created the strongest spending gains in furniture, online electronics and clothing.
If you look at the weekly Outbound Tender Volume Index (OTVI) map, you might think freight markets have reversed course and are retreating significantly. But this line of thinking is misguided. Tender volumes are coming down, but off an unnaturally high base. Volumes in most major markets remain above pre-storm levels.
Lane Acuity Plus is a new addition to SONAR SCI, making it even more useful to shippers.
The freight markets have reentered “chaos is business as usual” territory. All the major indices have been eerily calm since the winter storm disruption. Yearly comps are becoming more difficult given the panic buying that shot volumes and rejections up this time last year. Don’t let the weakening comps distract you, this market can’t get much better.
“With Market Access, shippers gain risk transparency,” Uber Freight’s co-founder said. “In a market, not every shipper has the same needs. This tool puts the risk in the shippers’ hands so they can make decisions based on their companies’ specific needs.”
There are many variables converging that will keep upward pressure on spot rates and tender rejections for the coming weeks. Carriers will be able to squeeze extra cents per mile over the next couple of weeks. Assets will come back online sooner rather than later, but volumes are beginning to pick up both seasonally and due to a whipsaw effect from the storm.
High shipping costs are hitting transportation budgets hard.
The COO of ZUUM Transportation explained this expansion was a part of a continued effort to bring competitors and partners together to solve industry pain points.
The insights within this paper are curated by the market experts and backed by data from FreightWaves’ SONAR platform.
