Impactful Trends Reshaping Inbound Freight Operations!
Modern Inbound Freight Management: Navigating Congressional Impact and Industry Changes
Destination success for inbound freight shipping relies on a robust logistics management program. To reach it, shippers must arm themselves with a solid arsenal of tools. This includes controls, a top-notch inbound freight routing guide, automated tracking tech, reporting capabilities, and much more.
Politics and Economics Shaping the Logistics Landscape
Congressional activity could leave its mark on successful inbound freight management. According to Truckinginfo.com, some significant forces driving changes and freight management consist of economic shifts and new regulations for truck drivers, courtesy of the new Congress.
As the economy expands, truck driver wages will zoom up, casting an added financial burden on shippers. However, savvy shippers who capitalize on the services of third-party logistics providers (3PLs) can readily bypass the struggle of offering better compensation and benefits packages.
Expect a breath of regulatory relief in the form of revisions to Hours of Service (HOS) regulations, demanded by industry insiders.
Compliance, Safety, and Accountability: The Unfolding Saga
An important aspect shaping successful inbound freight management is compliance, safety, and accountability (CSA). Although CSA scores have been around since 2010—intended to improve fleet management and trucker safety—Congressional action in 2018 led to their temporary disappearance from public view.
While the scorecards and data initially went dark, they're expected to make a comeback this year. Shippers leveraging advanced freight broker software and other efficient technologies will adapt to these changes, streamlining processes.
The Promise of Electric Trucks: Calming Spot Rates
Spot rates in the trucking industry have been on a rollercoaster ride (and sometimes plummeting) throughout 2019. The emergence of electric trucks, backed by heavy hitters like Tesla and Amazon, offers a stability-seeking solace.
Both shippers and carriers are keeping a sharp eye on these new electric truck designs, which may surface in the near future.
The Power of Smart Data: Gaining an Edge in Inventory and Planning
Smart data management is the name of the game for inbound freight. This involves collecting and analyzing data from multiple sources to fuel better forecasting, planning, yard management, and beyond. In short, harnessing your data can give you a much-desired competitive edge.
The ebb and flow of the trucking shortage means shippers will feel the heat to keep docks clear and have palletized shipments ready for loading. Leveraging smart data management lets you enhance load planning, shaving off precious time, potentially earning you "Shipper of Choice" status.
Redistributing the Freight Burden: Stores as Distribution Centers
As the omnichannel shopping experience evolves, expect an increasing focus on brick-and-mortar stores as distribution centers and pickup locations. This will dial down the burden of inbound freight in distribution centers, but the rapid growth of e-commerce is set to keep this adjustment in check, fueling a renewed emphasis on effective inbound freight management.
The Global Supply Chain: Collaboration in Freight Management
The globalization of supply chains necessitates freight management to expand its purview to encompass concerns over emerging trade deals and policy changes. One big change on the horizon in 2019: the ongoing negotiations surrounding the Trade it and USMCA agreements.
Apart from collaborations of this scale, expect greater collaboration between shippers and carriers to become more commonplace, with 3PLs facilitating connections to larger carrier networks, more drivers, and reduced overhead costs.
Conclusion: Mastering the Modern Inbound Freight Landscape
In the realm of e-commerce, nailing inbound freight management means using data and resources effectively to cut costs and streamline operations. This may mean partnering with 3PLs to capitalize on their extensive carrier networks, engaging with the latest innovations in electric trucks, and embracing the insights found in smart data management. Keep your eye on the ball, and don't forget the yard and dock when smooth sailing is at stake!
For a deeper dive into these topics, check out the enriching insights from industry experts through the following sources:
- Adam Robinson at Cerasis, published on our platform on March 21, 2019.
- Truckinginfo.com
- Navigating Congressional impacts and industry changes in inbound freight management requires a robust understanding of the economic shifts and new regulations for truck drivers, as well as adapting to the revisions to Hours of Service (HOS) regulations.
- As the economy grows, the financial burden on shippers due to increased truck driver wages can be managed more efficiently by partnering with third-party logistics providers (3PLs).
- Compliance, safety, and accountability (CSA) scores, though temporarily hidden from public view after Congressional action in 2018, are expected to return this year. Technologically advanced freight broker software will help shippers adapt to these changes and streamline their processes.
- The emergence of electric trucks, with support from companies like Tesla and Amazon, promises to bring stability to the trucking industry's spot rates. Both shippers and carriers are closely monitoring the developments in these new electric truck designs.
- Mastering the modern inbound freight landscape necessitates effective data management for better forecasting, planning, and yard management, as well as leveraging partnerships with 3PLs to access larger carrier networks, more drivers, and reduced overhead costs. In the era of e-commerce, smart data management can provide a competitive edge and help achieve "Shipper of Choice" status.
