The Weekly Freight Report for April 1, 2020
The Top 6 Stories in Freight
Freight tech… COVID-19 government relief… and what the supply chain should expect for the future. Get all caught up with the Weekly Freight Report:
1. Technology is Transforming the Old Freight Brokerage
Small brokerages who “pound the phones” will cease to exist in the next 5-10 years. Technology is transforming every aspect of the modern 3PL. Freight matching, automated transactions, and end-to-end tracking aren’t just the way of the future… it’s what shippers are demanding, now. So, what does the tech enabled 3PL of the future look like? Check it out.
2. Canadian Government Announces Wage Subsidy
Uncertainty… decreasing volumes… and stretched operating margins… COVID-19 is taking its toll on the Canadian shipping industry. But the proposal of a wage subsidy of up to 75% offers hope for CAN trucking companies. It could potentially keep thousands of small carriers in business and help shippers survive extended shutdown. Details are still to come… but you can get the most recent update here.
3. Carriers Fear What is to Come in Light of COVID-19
COVID-19 panic consumption has caused an influx in domestic trucking volumes for weeks. And now, drivers are seeing signs of slow-down. The pandemic has shut down everything but grocery stores and pharmacies. Meaning fewer loads to choose from… not to mention the anxiety of catching infection. Carriers fear the market will make a take a turn for the worst hard… and fast. Get the full story.
4. Supply Chain Pros Cheer U.S. Stimulus Package
With 90% of U.S. carriers being classified as small-sized businesses, logistics groups believe the $2 trillion CARES Act will be a saving grace for the trucking industry. From maintaining payroll to moving essential goods for U.S. consumers… the bill will provide critical assistance for small-to-midsize carriers. Get the full breakdown of the package here.
5. Supply Chain Tech Transformations After COVID-19
Many have been fortunate to have a work from home option in the face of COVID-19. For truck drivers… this luxury doesn’t exist. At least not yet. Experts believe that autonomous and communication technologies might be able to bridge the gap between the physical and digital worlds. And it would be a game-changer for the industry moving forward. Get the details.
6. Logistics Tech Disruption Expectations Decline
IoT, autonomous trucks and blockchain… just a few buzzwords the shipping industry has gotten excited about in recent years. And while these techs are just now really starting to heat up… new studies show the hype is dying off… the question is why? Get the details.
Need help moving freight across North America? FLS can help. Our network of 54,000 carriers and 400,000 trucks is a great asset to any shipper… and our service levels are impeccable. Give us a try… Get a quote today!