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FreightWaves LIVE: 3 Key Insights for a Stronger 2020

by Melissa Delise, on Dec 12, 2019

FreightWaves 2019

 

Recently, two of the largest logistics tech conferences took place at the same time (TIA Technovations and FreightWaves Live Chicago) forcing us to choose which event to attend. Fortunately, Carggo was represented at both. For your convenience, we compiled the 3 Key Insights for a Stronger 2020 in this article.

Takeaway #1:

It is going to be a bumpy ride next year filled with lots of volatility. Shippers are planning for flat growth and some forecasts show a 5-10% decrease in rates for 2020.

Luckily, while this prediction was at the root of most conversations, solutions were also at the forefront of discussions. The most common solution discussed to offset decreasing margins is leveraging AI-technology to drive better efficiencies and make smarter decisions—earning and keeping more business.

Takeaway #2:

The Amazon effect is changing customer expectations to demand greater visibility, faster delivery, and more competitive pricing. This is driving developments in freight technology.

The Amazon Effect is expected further disrupt supply chains with ecommerce growth expected to go from $2.8 trillion in 2018 to $4.8 trillion by 2021. This increase isn't surprising with free same-day and next-day consumer delivery becoming the norm. Manufacturers and warehouses are rapidly changing to meet these new demands.

Are you efficient enough to keep up with your customers' evolving demands? Consider partnering with technology providers who can help you drive more value and productivity to thrive in this new digital era.

Takeaway #3:

Big data is transforming the value brokers can bring to their customers.

Forward thinking brokerages and 3PLs are using data to not only develop cutting-edge freight tech for instant pricing engines, automated freight matching, and real-time or near-time freight visibility, but also to provide actionable insights by lane and facility to help customers improve their operations.

With ecommerce growth expected to go nearly double by 2021, the pressure is intensifying on all sides to meet growing consumer demand for same-day and next-day delivery expectations.

Business Intelligence Dashboards allow you to prove your on-time deliverability, prevent bottlenecks, and reduce customer costs for detention. Insights like these at lane and facility levels can help you win more business at higher margins.

Learn how Carggo can help drive efficiencies and provide the dedicated support to ensure safe and timely delivery. Call (312) 635-6005 or email us at info@carggo.com.

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Topics:logistics trendslogistics 2019trucking trendsfreightwaves