Trucking and Logistics in 2020 is looking much different
Several factors in the marketplace are changing the landscape of truck transportation in North America. COVID-19 has created many fluctuations in demand. Some cargo is extremely hot and other cargo simply has no place to go. In order to manage these factors, it’s essential to stay nimble.
Overall volumes are down and some in the industry are struggling. You would think the lower fuel prices cause by the crash in oil would be a huge help for truckers—but is it? Carriers are not getting the same FSC, which does affect revenue.
The crisis has killed demand for apparel, fuel/oil, hospitality, restaurants, aerospace, and more in many ways. Spot rates in several lanes are way down. Trucking and logistics companies are having to figure out their game plan in order to survive.
Things look much different at Port X Logistics. We got lucky?
There is a saying that goes: “luck is when opportunity and preparedness meet.” Well, we have been preparing for the opportunities since day 1. No one could have prepared for this pandemic, but we just had one of our best months ever! What did we do?
- Invested in tech from day 1 and that adoption is now paying off big time
- Believed in and living our culture every day—our team is all in
- Invested in the people! We have a coach that allows the team to develop into the best possible humans
- Became subject matter experts and know how to solve problems.
- Managed financials to make sure we are there for our employees, drivers, and customers.
- Invested in trucks. We think it’s important to have the equipment available for our customers. This allows us to be nimble, flexible, secure, and provide direct visibility.
In April 2020, we hit many milestones. One of the coolest was achieving 100% on our SOPs. We did that during a pandemic in a work from home environment. Port X has followed our three pillars of culture, service, and tech every step of the way. Before and during the crisis many people had no plan, had no tech, had no resolve, had no trucks, and they did NOT get lucky. Our business has thrived due to our resolve and sticking to the plan. The team has stayed engaged and is more passionate than ever. The bingo folder continues to grow and the revolution continues to roll on.
For the latest market news and Port X perspective you can email@example.com.