We’ve been producing these Two Minute Warnings for several years. Based on feedback, we know it's important to continue highlighting issues that can adversely impact your freight costs or supply chain operations. That said, one challenge is that periodically people may wonder: “Are these issues really that serious?” In other words, is this a “boy crying wolf” thing?
Based on experience we know that economic conditions can have a significant impact on carrier rates. That is why we encourage shippers to consider what is going on in the economy when they put together their transportation spend management plan.
How can shippers reduce their freights costs in an environment where rates are going up? We know a lot of shippers have had that question on their mind lately, especially with 2019 on the horizon. And we addressed these issues and shared some valuable insights on the webinar we hosted in conjunction with CSCMP and NASSTRAC last week.
Looking ahead to 2019, it’s pretty obvious: Freight rates aren't coming down anytime soon! But what will be different are CEO expectations.
This year I have met hundreds of executives who have told me that the Perfect Storm has really walloped their freight budgets. Many of these executives then tell me that in 2019, they want to see their company do a much better job of managing their freight costs.
