In 2014, the supply chain industry experienced one of its strongest years in recent history. The transportation sector grew by 3.6 percent due to stronger shipment volumes and consumers, which had been the element missing from the country’s financial recovery, began to drive the economy once again as confidence increased.
Rosalyn Wilson, author of the annualCouncil of Supply Chain Management Professionals (CSCMP) State of Logistics Report, will co-host a Food Logistics magazine webcast, along with Joe Carlier, Penske Logistics senior vice president of sales, to highlight the report’s impact on the food and beverage industry. The complimentary webcast takes place on August 19 at 2 p.m. ET/1 p.m. CT/11 a.m. PT.
Penske Logistics is sponsoring a complimentary webcast on July 29, beginning at 2 p.m. ET/11 a.m. PT, whereDC Velocity magazine will discuss the Council of Supply Chain Management Professionals (CSCMP) State of Logistics Report. The report, which is also sponsored by Penske Logistics, will feature author Rosalyn Wilson’s thoughts on a bullish 2014, despite the current inconsistent economic climate.
The logistics industry has continued on a path of slow growth over the last several years as it has worked through the Great Recession. While 2013 was more of the same, the data for 2014 indicate a more bullish outlook as the sector is showing its strongest freight performance since 2009.
“This will the best year we have experienced in the last eight years,” said Rosalyn Wilson (in photo on right), author of the 25th Annual State of Logistics Report, which was introduced by the Council of Supply Chain Management Professionals (CSCMP) and Penske Logistics last month. “The first five months of 2014 have been the strongest since the end of the Great Recession.”
Third-party logistics providers are diversifying services, leveraging technology and investing in relationships in order to remain competitive and accommodate future business needs and challenges, industry analysts said this week during the Council for Supply Chain Management’s (CSCMP) Annual Global Conference in Denver.
Several key industry experts presented their individual survey findings during the event.
The Council of Supply Chain Management Professionals (CSCMP) released its 24th annual “State of Logistics Report®,” presented by Penske Logistics, at a June 19, 2013, press conference at the National Press Club in Washington, D.C. The report revealed that total U.S. business logistics costs rose in 2012 to $1.33 trillion, a 3.4 percent increase from the previous year, remaining at 8.5 percent of the U.S. gross domestic product (GDP). Here, report author Rosalyn Wilson officially presents the findings.
Slow growth, inconsistent freight volumes and businesses that are doing more with less have created a new way of life for the logistics and supply chain sectors for the foreseeable future.
“With the idea of the new normal, we have to put our expectations where they belong. If we expect the slow, sustained growth, then we’ll all be happy,” said Rosalyn Wilson, author of the 24th Annual State of Logistics Report, which was introduced by the Council of Supply Chain Management Professionals (CSCMP) and presented by Penske Logistics on June 19.
CSCMP's State of Logistics Report Finds Intermodal, 3PL Logistics Play Increasing Role in Freight Movement
Increased transportation costs and tightened trucking capacity are generating more opportunities for third-party logistics companies and intermodal freight transportation.