ICYMI: CSCMP's Annual State of Logistics Report has Some Important Information for Shippers!
Jun 26, 2019
CSCMP recently released their 30th Annual State of Logistics Report. This report covers what happened in 2018, what’s happening in 2019, and how shippers are using logistics software and technology to improve their processes.
As the report highlights, 2018 was a tough year for shippers weathering the Perfect Storm. Logistics costs were up by about 11% to reach $1.46 trillion and were running at approximately 8% of GDP.
But the report also highlighted some good news. In 2019, shippers are getting some relief. Rates are moderating and transportation budgets are coming in right around or under forecast.
What I found particularly interesting in this year’s report was information about how shippers and logistics professionals can stay ahead of the curve for 2020 and beyond. Specifically, the report highlighted the value and importance of technology and the planning process.
To whet your appetite to read the report, you can find the Executive Summary on our website. And if you're a CSCMP member, you can get the entire report online for free (otherwise, you can purchase a copy).
After reading the report, you may be wondering: How do I get started with building world-class transportation and supply chain functions? Here are some recommendations:
- Create a transportation spend management plan if you haven’t already. This eBook will help you get started.
- Consider a Rapid Assessment process in which we analyze the current state of your transportation and supply chain operations, define your ideal state and create a road map for getting there.
- Review logistics software such as a transportation management system or freight audit and payment software.
We’re on your team, here to help and passionate about seeing you be successful. If you have any questions about the State of Logistics Report or anything else, give us a call at 630-833-0890 or send us an email.