Taking stock of the challenging roller coaster, 2017, makes it difficult to prognosticate for 2018. As the Greek philosopher Heraclitus stated, “The only constant in life, is change.” Nothing could be truer of our industry this past six months, and it might only speed up as we rocket toward 2019.
Technology continues to grab headlines and change the industry each day. Blockchain is at the forefront and will have a big impact moving forward. Products that provide visibility throughout the supply chain are becoming imperative. Tesla introduced its first electric semi-truck with much fanfare; however, little was discussed on price, availability of charging stations, and battery weights that could cut into payloads. Digital 3PLs continue to gain attention, but execution is a challenge as they wrestle with customer demands and exceptions.
Nothing will drive the industry more in the next year than a confluence of three factors that will converge in the coming year. There are many opinions on what exactly will happen at the intersection, but I believe there can only be one outcome.
Public and worker safety are coming to the forefront in our industry under the ELD mandate. Shippers have real-time, all-the-time visibility in all facets of their life, and now expect it for their products. Real time is just as important as on-time. The third factor might “trump” all the others.
No it’s not Trump, it’s the economy, as we just experienced the biggest bump in a decade, and there are more goods being moved than ever before. All of this leads to one thing, and that is a much higher demand than supply. We have seen what this looks like for the past two quarters, but this confluence of demands will only send prices even higher.
Logistics providers have evolved over the years, and the industry continues to innovate and develop; however, a keen awareness on relationships is still the driving force behind the trust that must exist in the supply chain.