The National Motor Freight Traffic Association (NMFTA) released the final updates of the National Motor Freight Classification (NMFC) on December 19, 2020. This update includes changes mainly regarding such commodities as electronics, building materials, automotive, and apparel. It is crucial for retailers to keep track of the NMFC updates, as inaccurate freight classification can increase shipment costs and disrupt operations.
Not too long ago, 2018 was heralded as an extremely successful year for the trucking industry, with the overall industry revenue up $96 billion. Increased customer demand, tremendous freight volumes, and advancements in logistics technology raised the bar on expectations. Unfortunately, 2019 couldn’t keep up. By the end of 2019, there was a 27% dip in freight rates with many companies suffering as a result.
Many supply chains were shaken due to the COVID-19 pandemic. The challenging economic situation has shed light on the key gaps in many companies’ transportation systems. While every supply chain executive is looking for ways to build resilience, inventory, and warehouse management become another top priority for businesses in 2021.
It’s been a few weeks since the official victory of Joe Biden in the US presidential elections. While the win of a Democratic party representative over the Republican Donald Trump has resulted in lots of discussions, many now try to forecast how it will change the US economy. Experts anticipate changes in many industries, and we are particularly interested in how Biden’s presidency will affect logistics and transportation. Here are some key things to know.
With 2020 in the rearview, what will 2021 look like for the logistics and transportation industries? See what might lie ahead and how you can prepare for this year's challenges.
Take a look at how November 2020 helped shape this year's trends in supply chain management and how your organization can grow as 2020 comes to a close.
COVID-19 has upended everything, but with vaccines now available, supply chains are about to be tested. See how you can prepare your supply chain amidst this turmoil.
With new HOS rules coming into effect, freight carriers and their drivers need to adjust to a new normal. Take a look at what the new rules are and how you can adapt to them.
It’s no secret that COVID-19 has changed nearly every industry. From supply chains to store shelves, the way businesses manage their infrastructure and customers has fundamentally changed. Retail has been particularly challenged by the virus in the way consumers shop, search, and spend. Organizations have fought to catch up in these uncertain times.
There were many new transportation updates in the shipping industry last month. Check out some of the top stories and transportation updates of October 2020!
Peak shipping season is just around the corner and there’s no better time for companies to start preparing for cold weather and a more active market. But like everything else this year, 2020 presents new challenges in the face of COVID-19 including market challenges and unpredictable consumer trends. It’s never been more important for organizations to be ready for this year’s shipping surge.
The oil and gas industry has historically been resilient, weathering crises, disruptions, and economic downturns. But just like everything else in 2020, the disruptions caused by COVID-19 have exposed weaknesses throughout this sector.
2020 has proven it’s impossible to be prepared for everything. Not only transportation budgeting but global strategies were interrupted by recent events. Although the global market has been frequently interrupted in recent months, there are still many things within your control when it comes to your organization’s shipping strategy. It’s important to take advantage of the things that will save you money.