Transportation TIP List: Week of February 11th, 2018
Boxes of chocolate, thoughtful cards and bouquets of flowers are a few of the highlights of today’s celebration of Valentine’s Day. And this week, our TIP List is inspired by the loving holiday – embracing some of the sweetest trends impacting the transportation industry. From the freight transportation outlook to the importance of supply chain collaboration, we’re sure you’ll love the articles below!
- The Four Biggest Freight Transportation Trends to Watch for in 2018: The transportation industry is entering a new year that has the potential to be even stronger than the previous one. The DAT reported a robust year in shipping for 2017, especially in the second half. And based on what was seen during that time, there are four top transportation trends to watch in 2018.
- Supply Chain Collaboration (SCC): Myth or Reality: Today’s supply chains are more complex than ever before. And, due to a lack of collaboration, the supply chain sector is realizing a negative impact resulting from the increased time it takes to make critical decisions. This is why SCC is such a vital topic when it comes to outpacing the competition.
- Loading Dock Wait Times Cost Truckers Over $1 Billion Annually: Truck drivers lose an estimated $1,281 to $1,534 a year and put themselves at higher risk for crashes because of unexpected wait times on loading docks. Additionally, detention time robs U.S. truckers of an estimated $1.1 billion to $1.3 billion in income annually.
- Higher Bunker Fuel Prices Driving up Fuel Surcharge: Shippers are paying twice as much for bunker fuel than they were two years ago, and there are signs that they could be paying even higher fuel surcharges for container shipping this year, as ocean carriers continue to phase in their added costs for new, cleaner low-sulfur fuel.
- Retail Sales Expected to Climb as Much as 4.4% in 2018: The NRF projected industry sales will grow between 3.8 and 4.4% this year, excluding automobiles, gas stations and restaurants. That compares with NRF’s forecast last year of growth between 3.2 and 3.8%. A jump of 4.4% would be the biggest increase since 2011, when retail sales climbed 5%.
What supply chain trends are you embracing in your operations?