The Official Blog of Penske Transportation Solutions

A continued increase in demand coupled with carrier constraints and a driver shortage has strained capacity, and carriers are getting more selective with the freight they will haul. The current situation is worse than the last extraordinarily tight market the industry faced in 2018, and it is expected to last through the end of the year.

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Transportation capacity is expected to continue tightening throughout the year, putting a strain on the supply chain that could impact warehouses.

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When capacity is tight, being a shipper of choice can help shippers secure space with carriers. Capacity is tightening across the industry, and ACT Research forecasts double-digit growth in spot rates for the rest of this year and 2021, said Tim Denoyer, senior analyst at ACT Research, during a webinar on Sept. 15. Building relationships now and securing capacity can help shippers avoid the spot market.
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Growth in e-commerce, natural disasters and the flow of imports are all causing distribution networks to come out of balance, adding to capacity challenges shippers will face this fall.
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Contingency plans keep freight moving when disruptions occur and allow shippers to remain agile when challenges arise. Planning for "what if" scenarios and identifying options in advance can be especially important when capacity is tight and transportation is harder to secure. Industry analysts predict that trucking will remain in demand throughout the rest of 2020, so now is the ideal time for shippers to run through potential disruptions as well as solutions.
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Shippers should prepare for a hectic fall as demand rises and capacity tightens.
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Unexpected spikes in demand can cause far-reaching supply chain disruptions that affect everything from production lines to grocery store shelves, but challenges can also bring opportunities. Visibility and agility can help those shippers within the supply chain to respond to changing market conditions and flex up to meet evolving customer needs.

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As businesses adjust to new demands in their daily operations and supply chains, Penske Truck Leasing and Penske Logistics can help with a variety of solutions to meet your fleet and logistics needs including: rental trucks, leases, used trucks and logistics services.

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Spring is just around the corner, and 2018 is already shaping up to be a memorable year in trucking. Attending the Stifel Conference in February, I had the opportunity to hear several seasoned industry executives express that they had never seen a January like this past January in their entire careers. The general sentiment was: “If this is what January was like – I can’t imagine spring and summer.” This is when freight markets traditionally pick up more steam.

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