Growing uncertainties in global supply chains necessitate a fresh approach to inventory strategy, says Warren Owen, vice president solutions consultants with Netstock.

As the backbone of global trade and commerce, transportation and logistics companies are under increasing pressure to enhance efficiency, reduce costs and meet sustainability goals.

Brands, carriers, and third-party logistics providers are rapidly adapting their operations to address a chaotic shipping landscape and skyrocketing customer demands.

Businesses in the U.S., Canada, and even South America have been bringing their supply chains closer to the consumer — that is, nearshoring — and Mexico has been the beneficiary. 

Industry consolidation will continue this year as a proving ground for companies’ tech. Two thousand twenty-four will be the year our industry begins to realize the promises of modernity.

Currently, it’s a shipper’s market. The quantity of freight in circulation is low, providing shippers with leverage. Transport companies are dropping rates to attract business. 

While numerous applications are available for optimizing a variety of logistics functions, the first- and last-mile segments are proving to be especially complex, generating significant costs for shippers and carriers.

A preview of what to expect at Manifest 2024, the premier gathering of supply chain executives, logistics service providers, innovators and investors.

Every major commercial shipping line is rerouting vessels away from the Suez Canal in response to the recent series of missile attacks by Houthi militants in the Red Sea.

Kent Williams, executive vice president of sales and marketing at Averitt, would like to see better relationships between shippers and less-than-truckload (LTL) carriers.