9 Freight Shipping Trends you Must Know to Grow Your Business

Amazon is gearing up to become the best of the global freight shipping providers. So entrepreners have to consider these freight shipping trends.

The goods industry of today is growing rapidly. However, the conventional forces of the economy no hard bind it, and Amazon is gearing up to begin rising to be the best of the global freight shipping providers. As a result, your company requires you to think about these freight shipping courses and how you can plan to return to them as soon as possible.

1. Focus on ELD Implementation

By the official deadline for completing electronic logging devices less than one year away, more freight shipping providers will be improving technology and systems in 2017, reports Matt Sullivan. This will help assure maximum compliance once the deadline moves, but additional mandates will push the industry ahead.

2. Terms of Service - Core to Freight Operations

Meeting drivers' HOS (hours-of-service) requirements will be crucial for good shipping providers this year. In the past, operators were subject to fewer constraints on necessary breaks and time off the road. However, the newer HOS statutes mean that some drivers will be able to get shipments from position A to point B at any given time. Consequently, the driver shortage may get worse with this new knowledge. 

3. Capacity Demand 

Capacity is required to grow more substantial and more important in the coming year. Goods demand increased consecutively, asserts Mark Montague of Supply Chain Brief. Furthermore, LTL (less-than-truckload) shipments grew faster than FT (full truckload). This trend will be encouraged more as the year proceeds as drivers retire and the driver lacks momentum.

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4. Freight Rates Will Increase

The factors will provide an improvement in freight rates as well. Reduced capacity and improved demand will also weigh slowly on the industry, but the most significant impact will be in fall 2017, following the ELD mandate. But, a few other attractions will still affect the industry.

5. Optimism abaft the New Regime Will Spur Freight Growth

The business stance of the new legislation, reports Sean Kicarr of FleetOwner, will act as a motive among good shipping providers. This will help increase leasing practices, provide an acceptable tax code to businesses of varying dimensions, and encourage reshoring systems. In other words, more construction jobs will return, which will place added pressure on freight carriers to hire more operators and invest in a fleet. Finally, the new administration is poised to increase freight spend and accountability over 2017 and beyond.

6. Ocean Freight Will Feel the Amazon Impact

Amazon recently entered the global ocean shipping market as international shipping opponents could not keep up with the online retailer's surging need for faster, cheaper freight shipping. Amazon now has its NVOCC (non-vessel-owning common carrier) license, which will allow the company to operate in shipping international containers. Moreover, Amazon also has developed its dedicated aircraft for faster global and regional delivery. In other words, the organization is using investments into its freight shipping processes to meet the demand where carriers and local shippers cannot. 

7. Dynamic Pricing Will Become Commonplace

APIs (Application Program Interfaces) will give freight shipping providers interest in keeping rates lower. Moreover, APIs will automate all data transfers between carriers, shippers, freight brokers, receivers, and TMS (transportation management systems), making the process of rate adjustments and selection easier across the board, reports FleetOwner.

8. Automation Will Enhance Freight Visibility and Accountability

Robotics, virtual reality, and automatic picking and packaging processes will reduce the industry's labour and transportation costs. But, of course, automation begets automation. In other words, IIoT (the Industrial Internet of Things) will be required to enable automation, which will result in better perceptibility and accountability across an organization. Furthermore, companies will respond to problematic weather conditions, cyber security threats and interruptions in information faster through the IIoT and automated systems. Additionally, free trucks (self-driving trucks) will also reduce the labour demand while increasing demand on the IoT.

9. Goods Shipping Providers May Respond Faster

The next wave of transportation workers will need to have an intricate understanding of mathematics, computer programming, and robotics. However, the current political climate remains to push an agenda based on college degrees as a source of knowledge. Unfortunately, the increasing focus on domestic spending is starting to impact student loan programs and donations.

Consequently, hitting roadblocks to attaining an education with the skills necessary to enter the increasingly automated, first freight industry. So, more companies will begin offering tuition payment programs or educational programs to encourage applicants to work for their company. While this represents an improved hiring cost, it will help employees gain a sense of loyalty and drive labour longevity in the industry.

By the time transportation is growing, it's getting more active, faster and more responsive to the needs of the market. With the commitment of reshoring hope and possible public backlash for continuing offshoring processes, freight shipping providers will have the chance to restore state trust and increase profits. They need to take notice of what's happening with freight shipping trends. 

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