Betting on a recovery in your freight budget?
Jul 1, 2020
It’s that time of the year. The weather is heating up, the Fourth of July is around the corner, and shippers are starting to work on their budgets for 2021.
Taking a quick trip down memory lane, in 2018 skyrocketing rates caused shippers to be routinely over-budget and for CEOs to cite rising transportation costs as being a drag on their quarterly earnings calls. Then in 2019, we had close to a “normal” year. In 2020, with the COVID-19 crisis and lockdowns, things have been all over the place. So how do you forecast 2021? Do you bet on a big recovery, a small one, or none at all?
If you want to build a great freight budget, it starts by understanding what’s happening in the transportation and freight marketplaces under the surface.
That was never easy to do with a logistics industry that’s around $2 trillion in the United States and $10 trillion globally, and it’s even more difficult now. But have no fear, at TranzAct we have a great network we can access to provide you with timely and relevant information. After all, we’re all in this together!
One way to get a better understanding of the transportation market is to listen to our latest webinar with Dean Croke, Principal Industry Analyst at DAT. We were also joined by special guest Jerry Hempstead, who, as always, had some great insights on what is going on in the parcel sector. We’ve received some great feedback about the value of looking at trends in the different modal sectors and and how the parcel giants are responding.
We also have many other webinars, exclusive interviews, case studies, and more in our resource center. It’s a great place for some summer reading and listening to get up to speed.
Last but not least, we wish you a great Fourth of July!