The level of uncertainty around trucking and its future in the coming months and years is off the charts. The freight market’s volatility has been unprecedented. We moved from a flat January and February, to skyrocketing demand in the first days of the pandemic, to plummeting trucking demand and prices in April and May, to a rapid spike in pricing and demand through today. On August 3, 2020, Morgan Stanley’s Freight Demand Index (the gold standard when it comes to measuring trucking demand against past performance) passed its historical average demand and touched its all-time high. U.S. factory orders rose 6.2% in June and are expected to grow. China’s factory output in July was the largest growth it’s had since 2011. What does this all mean? Products will be harder to get to market and potentially more expensive to ship than ever before. In this webinar, Jeff Tucker took a look at the market today and discuss how you can set yourself up for success in this year’s continuously evolving landscape.
- A look at the market today (demand is rising, 40% of Americans who lost jobs to COVID-19 are still out of work, capacity is tight, and far too many drivers aren’t on the road today for a variety of reasons).
- Walk through the variables that are currently constraining capacity.
- Discuss the steps you should be taking now to prepare for the uncertainty of the market in the months to come, and the productivity improvements you can pursue today.