Greg Gantt, President and CEO, Old Dominion Freight Line

https://www.odfl.com
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Greg Gantt

Last year, we saw strong growth in the LTL industry with a record year in revenue. We have benefited from a strong economy, tightening capacity, and increasing supply chain sophistication to meet the growing needs of customers. It is certainly an exciting time for the trucking industry. While anticipating a similar environment in 2019, we are mindful that economic conditions could soften and a new Congress could introduce uncertainty into the market through increased regulation and continued underfunding of our national infrastructure.

The e-commerce driven, on-demand marketplace will likely increase pressure on the surface transportation market in 2019. We have seen this as large retailers raise fees and narrow shipping windows to attempt to exert greater control over the supply chain. In response, carriers must continue to innovate and invest in their networks to maintain pace and be closer to customers.

Continued investment in technology will be critical to ensure carriers meet the demands of their customers as they seek to have complete visibility of their shipments. Companies are deploying geographic information systems to track shipments and improve driving route efficiencies. Smarter customized handheld software allows drivers and dockworkers to provide real-time feedback at every point in the shipping process. Companies can better respond to these inputs to shift resources and ensure shipments arrive at the exact time a customer needs it.

Larger terminal networks and cutting-edge technology are useless without well-paid, well-trained employees. A driver shortage will continue to impact our industry in 2019, and we must do more to recruit future drivers by advocating for the high quality of life that a trucking career can bring. Solving this challenge will be critical for our industry to meet the needs of our customers in the future.