The Weekly Freight Report for November 5, 2020
The Top 7 Stories in Freight
Brake Week results surprise… shippers prep for a peak ‘unlike any other’… driver acquisition goes beyond higher wages… peak will bleed into 2021… shipper-carrier trust erodes… freight tech moves past visibility… and the RFP process is forever changed.
The hottest stories in freight can be found here, in the Weekly Freight Report:
1. 13% of vehicles placed OOS during Brake Safety Week
The results from August’s annual Brake Safety Week are in. And they aren’t great. US inspections resulted in 13% of trucks being placed out of service for brake violations. Canada was worse… with 14% having brake violations. With capacity seeing an all time crunch, shippers can’t afford to have 13% of trucks off the road. The next inspection is set for August 22-28th, 2021… and shippers will expect truckers to come better prepared. Get the full inspection data here.
2. Preparing for a peak ‘unlike any before’
The peak season rush begins… and it’s a bigger nightmare than usual. Rising pandemic-induced e-commerce orders coupled with traditional peak season volumes have created a parcel capacity crunch like never before. And rates are rising with the volumes. They’re calling it “Super Peak.” And leading parcel carriers suggest shippers should leverage a 3PL to ensure peak success. Get the full details here.
3. Beyond higher wages and signing bonuses
The driver shortage has been a major talking point for years. Today, the demand for capacity has never been higher and yet drivers continue to exit the driver pool with very few replacing them. This massive problem has carriers of all sizes scrambling to attract qualified drivers. One large carrier has implemented an interesting four-step strategy that goes beyond increased pay and signing bonuses… and they’re saying it actually works for the long-haul. Check it out.
4. Trucking poised to have booming new year
Looks like the OTR volume and capacity pinch will continue well into 2021. Elevated import volumes are one of the key drivers. And Freightwaves is predicting a much stronger opening quarter for trucking. Unexpected demand, low inventory and tight railroad capacity have left truckload the preferred mode of choice for shippers. And it’s expected to stay that way… get the full story here.
5. The Ultimate RFP Checklist for Shippers
RFPs have changed… those annual bid cycles are out. They’ve been replaced by short-term dynamic bids that respond to current market conditions. And although they’ve changed, RFPs are still a crucial part of your business operations. The Ultimate RFP Checklist for Shippers is the blueprint to building a world-class RFP… Use it to update your RFP process.
6. Shippers find new carrier partners for peak
New research shows two-thirds of shippers aren’t confident in their carriers going into peak. The current capacity imbalance has left shippers resorting to new carrier partners at the last minute… and it’s causing massive issues. Hmm… if only someone would have told shippers to diversify their carrier pool months ago! 🧐 But we’re past that… Supply Chain Dive makes some interesting points about how to break down shipper-carrier reliability gaps right now. Check it out.
6. Visibility solutions move beyond freight tracking
As visibility tech has improved, so have shipper’s KPIs and scorecards. Freight tracking is table stakes. Today, shippers look deep into carrier performance, their own facility performance, and the probability of shipment delays. And they are finding deeper insights than ever from the tools provided by their digital freight partners… Check it out.
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!