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Q3 Logistics Review
-There was some question as we entered Q3 about whether freight volumes would surge resulting in capacity shortages. That clearly did not happen. In fact, capacity became more readily available throughout Q3. Below you’ll find some key highlights from the third quarter, including economic data driving freight demand, as well as legislative and regulatory issues affecting freight transportation. I’ll also share my expectations for the remainder of the year. Now, let’s take a look at Q3.
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The Holidays (And Seasonal Demand) are About to Hit: Is Your Supply Chain Prepared?
-Managing the supply chain to match customer demand is difficult any time of year, but peak seasons can add a number of particular challenges. During the holiday season, companies need to capture as many sales as possible without overestimating demand and ending the season saddled with excess stock. Depending on the type of product, holiday shipments start in September, October and November — and if your product isn’t on the shelves by the first week of December, you’ve lost the sale.
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The Value of Transplace’s Acquisition of M33 Integrated
-As you may have heard, Transplace recently acquired M33 Integrated. A third party logistics (3PL) provider, M33 Integrated has particular strength in the flexible packaging sector, and brings a strong management team, innovative technology and an excellent customer base that are complementary to Transplace’s capabilities.
There are a number of key reasons why acquiring M33 Integrated presents significant opportunity for Transplace and our customers.
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Transportation TIP List: Week of October 4th, 2015
-From risk management, consumer confidence and the upcoming retail holiday season, the many intricate aspects of supply chain planning is currently top of mind for many in the transportation industry. For example, will retailers be able to keep Star Wars merchandise on the shelves when the much-anticipated new installment arrives in theaters? This week’s TIP List doesn’t have to go to a galaxy far far away to find the latest transportation trends – read on to see what’s abuzz!
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Looking Forward: The Rise in Trade with Mexico and Canada
-Nearshoring and even re-shoring have become very real happenings in North America. Due to a number of factors, including increased production costs in China, a rise in shipping costs for ocean and air freight, congested ports and labor unrest, many companies have chosen to move product manufacturing or assembly to Mexico. This in turn has caused an increase in order volume for finished goods traveling from Mexico to Canada, particularly in the automotive and consumer electronics industries.
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Trends in Transportation
-While no two years are exactly alike, freight transportation in 2015 has been dramatically different than 2014. We aren’t seeing capacity shortages on a broad basis this year like we did in 2014, and while we expect capacity to modestly tighten once peak shipping season kicks in, we do not expect any significant capacity shortages this fall. Last year’s first quarter saw extreme weather issues, and though this year weather conditions weren’t quite as severe, we had to deal with the West Coast port challenges that also impacted domestic transportation. Overall, we had a much better start to 2015 due to more reasonable capacity demand balance.
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Succeeding Beyond the RFP – How Shippers and Logistics Providers Can Drive Performance in Their Business Relationship
-The relationship between a shipper and a logistics provider often starts as a transactional process – the shipper has an immediate need, which leads to a Request for Proposal (RFP) or Request for Quote (RFQ) process, then ultimately selects a third-party logistics (3PL) supplier to execute on that need. This routine industry practice can yield immediate and significant results – however, if the relationship does not evolve into something more than this, even within the first contract cycle, there is a chance that the relationship will ultimately be suboptimal.
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Succeeding Beyond the RFP – How Shippers and Logistics Providers Can Drive Performance in Their Business Relationship
-The relationship between a shipper and a logistics provider often starts as a transactional process – the shipper has an immediate need, which leads to a Request for Proposal (RFP) or Request for Quote (RFQ) process, then ultimately selects a third-party logistics (3PL) supplier to execute on that need. This routine industry practice can yield immediate and significant results – however, if the relationship does not evolve into something more than this, even within the first contract cycle, there is a chance that the relationship will ultimately be suboptimal.
To thrive in today’s dynamic supply chain environment, it’s critical to continue challenging the status quo beyond the RFP and to proactively find new ways to drive innovation and optimization. Therefore, a joint commitment to nurture and evolve the shipper-3PL relationship is key.
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From the Transplace Team: Thank You Truck Drivers!
-As National Truck Driver Appreciation Week comes to a close, we wanted to say one last thank you to all of the hard working American truckers on the road. Truck drivers play a huge role in our everyday life and our country’s economy, and they deserve our deepest gratitude. Whether you followed our contributions here on the blog, submitted a photo showing your admiration, or took a moment to say “thank you” to a truck driver you know, your involvement has helped make this a great week!
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A Special Video Thank You to Our Trucking Heroes
-National Truck Driver Appreciation Week is the perfect time to honor all professional truck drivers across the nation for their hard work and dedication. The 9.2 billion tons of freight that is moved on trucks annually requires nearly 3 million heavy-duty trucks and over 3 million drivers, making truck driving an incredibly valuable profession! And to celebrate the commitment that these great workers make to their vital and challenging jobs, Transplace leadership would like to express their heartfelt gratitude.