As we move closer to recession and the market is continuing to be volatile, shippers in the spot market and owner operators are starting to feel the burn of skyrocketing fuel costs. Diesel prices, holiday seasons and consumer confidence all impact major players that can benefit from strengthened partnerships.
What types of partnerships do you need to run a successful shipping operation? And, how do you maintain those relationship to withstand market impacts? Todd Burk joins us again from Icon Foods! Todd speaks upon the value of having a variety of partnerships and how those partnerships can affect shippers in the spot market.
As the market continues to tighten in the logistics & freight shipping industry, more businesses are feeling the burn. Shipping claims and bankruptcy claims are increasing in parts of the market that are the most impacted by the volatility. Zachary Elrod with Allianz Trade North America discusses his experience with bankruptcy support and the overall trend of the market over the next several months.
When a food recall is announced, there is a significant amount of urgency that is needed by shippers, carriers and logistics companies to secure every lot of affected product and provide proof of disposal. John Mahle with Triple T Transport describes his experience with contacting affected retailers and warehouses, while Creg Fielding with Fusionware shares his digital solution to pinpointing every piece of contaminated food product across multiple storage facilities nationwide.
Creg Fielding with Fusionware shares his experience with food tracking and John describes how the importance of food storage during transport has changed over the last few decades. Now, food safety trackers can keep track of recalled food all the way down to the genealogy of the seeds and the lot shipments as they travel through multiple checkpoints.
The freight & transportation market has been very unpredictable over the last two years. Usually, the budgets for the year are already set by March, but many companies are struggling to make budget projections with the volatile diesel prices and fluctuating consumer demand as inflation hits the economy. Wendy Workman with SK Food Group discusses her experience with trying to navigate a budget during this uncertain time.
In this episode Dan North from Allianz Trade North America describes how we arrived at this point in the North American market and what we may expect for next year in the financial markets. Meanwhile, diesel fuel prices continue to remain high after a historic increase. Dan describes how freight, shipping and the cost of goods have all been affected by the high diesel fuel prices, and has made an impact on the total inflation that has been seen this year.
Inflation is the #1 topic this week in the logistics industry. John & Joe discuss last week's economic update from Bob Costello and his forecasts on the freight economy. Joe Lombardo talks us through a deeper dive on inflation and it's effects on diesel, OEM equipment, new trucks, parts and the price of goods. John talks about how E-commerce is slowing down from pandemic-highs.
John Mahle and Robert Costello with the ATA discuss the labor forecast and the diesel production for the logistics industry. Trucking equipment manufacturers are still struggling to catch up with demand but the larger carriers are not selling/offloading equipment as much as before, in preparation for future growth.
Bob Costello with the American Trucking Association shares his insights into what the major impacts are on the freight industry. Bob has seen economic growth increase dramatically over the last year, but slower growth into this year. We still see supply chain issues in getting new transportation equipment from the manufacturers. Drivers are still down from the pre-pandemic level but we are seeing an inflow of drivers as the demand increases and as the compensation rate matches inflation.
Why is the market changing so much? We've been seeing increases in fuel inflation and natural slowdowns in some areas of the industry, but John Mahle and Joe Lombardo both agree that the capacity for transportation demand can come back up quickly under the right conditions. In this episode we dive deeper into the individual capacity issues, where they will continue to tighten up and when to start seeing some relief.
A common theme underlying the current strains in the transportation industry (on-time delivery, volatile pricing and high staff turnover) is the expectations of transportation managers, in the current environment, resulting in unrealistic expectations. John Mahle with Triple T Transport and Joe Lombardo with Ege Avenue Associates discuss the reality of the market and how to view the current issues plaguing the industry today.
Service is affected by market constraints in the logistics industry. On-time delivery becomes more and more difficult for shippers and carriers as the market moves into rough conditions. Joe Lombardo and John Mahle discuss the importance of monitoring good shipping/receiving data to get in front of thes service issues before they happen. How to handle late fees and maintain a shipper/carrier relationship during the tough months.
Sometimes a shortcut can lead to higher long-term costs. John and Joe discuss the decisions that stakeholders in an organization have to navigate when determining the best business practices for freight shipments. Multiple stakeholders with clashing needs, brokers, consultants, deadlines and regional shipping routes, all of these factors can lead to an unsustainable pricing structure.
What is an unloading fee and what does it pay for? John asks Joe Lombardo from Ege Avenue Associates if he can see an end in sight for unloading fees and lumper charges. Do they even make sense from a budgeting and auditing perspective?
Now that we know what a "Shipper Of Choice" is, we must strive to become the best at maintaining our valuable carrier partnerships. The logistics industry is facing a critical level of challenges: supply chain disruptions, fuel price increases and a growing need for stronger partnerships to weather this storm. John walks us through the options with Scott Oliver of HP Hood and Slate Kamp of Litehouse Logistics, to see what shippers can do to become the best partners for the supply chain and for their clients.
What is a "Shipper Of Choice"? Scott Oliver of HP Hood and Slate Kamp of Litehouse Logistics dive into today's challenges that shippers face when trying to manage their fleets and carriers. Being a shipper of choice means that the shippers and the carriers maintain a high value partnership through collaboration and problem mitigation. Learn about how John, Scott & Slate all strive to manage excellent shipping operations from their different roles by watching the podcast.
In this first episode of the Stay in Your Lane Podcast, Wendy Workman with SK Food Group and Todd Burk with Icon Foods discuss some of the largest challenges in the logistics industry today such as the high volatility of freight costs and the factors that have contributed to the supply chain issues that we now see. What can we do to help mitigate these issues, and how do they affect our industry partners? Find out both the carrier AND the supplier's perspective here on the first episode of the Stay In Your Lane podcast by Triple T Transport.