The freight market, like many sectors, operates in cycles. Currently, it’s in a deflationary state. However, it’s crucial to remember that downturns are not permanent; they are simply one market phase. This period of contraction presents an ideal opportunity for shippers and freight companies to regroup, reassess their strategies and prepare for the anticipated upswing.
The upcoming period of inflation offers the chance for businesses to leverage the lessons learned during the downturn and adopt innovative technologies and strategies to maximize efficiency, profitability and competitiveness in a new market phase that could be just around the corner.
Amid the freight contraction of 2023, FreightWaves and Loadsmart surveyed shippers to understand just how they will adapt as the market recovers from the current sluggish demand to an eventual growth period.
Respondents revealed how their operations fared during the last freight boom cycle, their outlook for the future, and their current strategies and challenges. The survey uncovered methods that shippers can implement for operational agility to help them navigate obstacles that lie ahead.
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