Freight shipping isn’t the same as it was last year, and it never quite is. Shipping is a fast-moving industry, and it relies on providers being sharper than their competitors – and adapting to changing freight shipping trends. Shipping remains a competitive industry: sink or swim! Here’s how you can better adapt to changing freight shipping trends in 2023.
Adapting to Changing Freight Shipping Trends
The World Bank has warned that the world could be on the verge of a recession for the rest of 2023, pointing to unstable financial patterns. Financial warnings have a greater impact on the freight market, as they affect everything from supply and demand to the cost of transportation as a whole. Heed financial warnings, and steer your business through unsure financial waters.
The eCommerce Jump
eCommerce wasn’t a thing not too long ago. However, today, eCommerce businesses can deliver anything from fashion to food straight to your door. The rise of eCommerce has had a huge impact on the logistics industry and shipping. This is something to watch for freight companies who want an advantage in 2023. If you aren’t taking full advantage of eCommerce, now is the time to start.
The Global Container Index
The Global Container Index measures the cost per container across various borders. Statista has revealed that costs have been up since 2021, with prices continuing to rise even after the Covid-19 pandemic lockdowns ended. The year 2023 has brought a peak for shipping container prices. Make sure you have the best suppliers, with the best deal. Where you don’t, consider a switch or a better business partnership.
Delay(s) in the Industry
Unforeseen delays can always happen – and the year 2023 has seen many delays in the industry. Prepare for the unexpected, and you will be in a position to push forward. Do you have a backup plan for any unexpected delays? If not, start preparing for the unexpected today.
Costs have an impact on the industry as a whole. Companies that manage to negotiate their way around higher costs for a better deal will emerge successfully long term. Negotiate, and put your best team on it to make sure that your company can walk away with the best deal.
Supply and demand are always something that businesses should keep in mind when making business decisions. The tug-of-war between supply and demand is always a variable and is constantly changing for most businesses. There is almost no single supply (or demand) that stays the same amount of constant for the whole year. Count on changing supply-and-demand patterns for the rest of the year. Remember the paragraph about backup plans, and how you should always have one? It counts for suppliers, too.
If you’re still running your business on the old ledger system, then you should know that the new players and old players are all going or have gone digital. Now is the time to embrace artificial intelligence and digital supply chain solutions. Without them, your company may be left in your competitor’s dust.
The Junction LLC | Truckload Shipping
As a leader in the transportation industry, we demand excellence from our entire team. Our team at The Junction LLC strives to deliver the best possible customer service. We help our customers solve the toughest transportation and supply chain needs.
Our team is dedicated to serving our customers and will take the necessary action to deliver our customers’ products safely, efficiently, and on time. In fact, this is our promise to you!
Nationwide Services include:
- FTL (Full Truck Load) Shipping
- LTL (Less Than Truck Load) Shipping
- Transportation of refrigerated, dry, and bulk shipments
- 3PL Warehousing and Logistics
- Contract Warehousing
- Trucking Freight Brokerage
Trucking & Freight Shipping Services:
- Time-sensitive shipments
- LTL (Less-Than-Truckload)
- FTL (Full Truckload)
- Flatbed LTLRGN (removable gooseneck lowboy)
- RGN (removable gooseneck lowboy)
- Maxi’s / A-Train / B-Train
- Heavy Haul
- Over Dimensional
- Dry Van
- Dry Van LTL
- Refrigerated LTL
- Power Only
- Our sister companies can also provide warehousing in our food-grade facilities, cross-docking, and contract warehousing.