Managing the Dynamics of the U.S. Truck Market
Our industry continues to face significant challenges relative to the land transportation portion of the U.S. supply chain. The movement of goods consumed in the U.S. continues to rely heavily on trucking. A report from the national online freight marketplace survey company DAT Solutions indicates that for the second week in May, there was only one truck available for every 6.7 loads of cargo, creating an imbalance in truck supply and demand.
This increase in demand has affected the trucking market in parallel with a congested rail network and new federal safety regulations for drivers. The combination has exacerbated the supply and demand imbalance, and impacted trucking services pricing. Driver shortfalls are expected to surpass 63,000 positions this year. According to DAT Solutions, shipping costs for dry van cargo sit at $2.16 per mile, or 51-cents higher than a year ago.
In light of these industry-wide dynamics, we have developed the following initiatives to improve efficiencies in our trucking operations, which include the way we dispatch, pay, communicate, and collaborate with our trucking partners. Click here to read how we are transforming the way we do business to increase the velocity of your supply chain.