Transportation TIP List: Week of July 1st, 2018
Happy Independence Day! Take a break from your cookouts, parades and fireworks and check out the TIP List – this week, we’re highlighting the latest chemical logistics news and taking a look at the business impact of the driver shortage. Dive in to all the articles below and we hope you enjoy all of your Fourth of July celebrations!
- Chemical Logistics: The Price of Success: The U.S. chemical industry is going strong, according to the American Chemistry Council (ACC). The U.S. chemical production volume for 2017 (excluding pharmaceuticals) was 0.8% higher than in 2016. The ACC predicts industry growth of 3.7% in 2018, 3.9% in 2019 and 3% in 2020.
- America’s Trucker Shortage Is Hitting Home: The trucking industry – the backbone of the U.S. economy – is carrying more weight than ever, despite a critical shortage of drivers. And now this compression point is sending waves of pain through the supply chain, from distributors and wholesalers to retailers and consumers, in the form of fast-rising shipping costs.
- U.S. Truck Pricing Power Forecast to Last into 2020: U.S. shippers would welcome a break from relentlessly high truck pricing during the dog days of summer this year. But those dogs aren’t barking yet. Spot rates for dry van truckloads hit all-time highs on DAT Solutions load boards in the week that ended June 23.
- Brokers Must Consider Minutes in New Way Under ELDs: Transportation hours-of-service haven’t changed, but today’s truckers have been short on minutes due to the ELD mandate. For example, small carriers can’t get as much done in a workday, as one extra hour to finish a final delivery and find parking can no longer be used.
- What is Manufacturing 5.0: Industry 4.0 changed the manufacturing game for the better – it was all about making systems and processes smarter. Today, many companies at the forefront of technology have already moved on to the next generation: Industry 5.0, an automated and efficient concept that injects manufacturing with a traditional, personalized human touch.
What transportation trends are you following this Fourth of July?