How COVID-19 has challenged and changed the realm of freight forecasting
Luke Falasca and Kyle Taylor are back this week with a look at the state of the market using FreightWaves SONAR data.
They hit the idea of market volatility following the Thanksgiving holiday and Black Friday/Cyber Monday shopping days.
Falasca says trends in outbound tenders and tender rejections followed exactly as he expected after the holiday, fitting into the typical seasonal cycle.
Taylor says even though rejection rates have decreased from an all-time high of 28%, shippers are still paying a premium on their rates.
Changing approaches during the pandemic
David Spencer, director of business insights at Arrive Logistics, joins the show to talk about how Arrive Logistics has changed its approach to fit the changing market.
Spencer thinks success has come as the company focuses on its clients, saying, “When our customers and carriers are thriving, we’re thriving.”
Arrive Logistics has added a significant number of staff, and Spencer credits that growth to Arrive’s ability to connect with potential and current customers.
Finishing out the year, Spencer says Arrive hopes to keep the growth trend; he also says the company wants to focus on shorter-term rate negotiations to prevent problems caused by volatile markets.
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