Industry Indicators: May 2-8
Industry Indicators: May 2-8
iLevel Logistics presents intriguing data that offers a snapshot of notable industry changes and events during the week of May 2nd through May 8th.
Inspections, on-line shopping, last-mile delivery, annual salary survey, Logistics Managers Index, rates on FEUs, fleet expansion, and port import growth
Inspections Map
Source: OverDrive
This week was International Road check – the annual three day event when CVSA inspectors conduct compliance and enforcement targeted at elements of motor vehicle and driver safety. OverDrive provided a map of inspections, highlighting the most intense and least intense enforcement states.
And the 15 toughest states in 2020 for HOS violations.
On-line shopping – Amazon dominates
Source: FreightWaves
Where do on-line shoppers go first when starting their search?
Where consumers shopped in the last 3 months.
Last mile delivery
Source: Capgemini Research Institute
The United States’ share of shoppers who like to shop on-line for convenience is very high (81%) but the share is high in other countries as well.
Big increases in 2021 of consumers receiving deliveries at least once a week from groceries. Clearly, last mile is increasingly important and a growth segment around the world.
Yes, young people take advantage of on-line shopping, but older cohorts enjoy the convenience as well.
Clearly, consumer satisfaction drives last-mile delivery service.
Do it faster, and the consequences are more faithful consumers. Moreover, they will buy more, and buy more frequently.
Finally, while last mile delivery may be popular with consumers – and foster consumer loyalty and satisfaction, it accounts for a high share of the overall supply chain costs – 41%!
Annual Salary Survey
Source: Logistics Management
Nearly 1 in 5 logistic professional earn in the range from $150K to $249K. The median salary in 2021 was $110K up $5K from 2020.
About half of respondents enjoyed significant salary increases in the past year (48%) – though a majority (52%) experienced a decrease in salary or their salary stayed the same.
Peak earning years for logistics professional are from mid-50s to mid- 60s. Average salary declines thereafter.
Finally, most logistics professionals are notably satisfied with their careers.
Logistics Managers Index rises - again
Source: Logistics Managers’ Index
The LMI includes 8 components that make up the logistics industry, including inventory levels and costs, warehousing capacity, utilization, and prices, and transportation capacity, utilization, and processes. Readings above 50% are indicative of an expanding logistics industry while below 50% represents a shrinking industry.
The April LMI of 74.5 was its second-highest reading ever. For some time, the index has been driven by tight capacity and higher prices in transportation and warehousing and record high growth in inventory costs.
Market rates for 40’ containers
Source: FreightWaves
The Freightos Baltic Index shows escalating rates across all channels.
Plans to increase fleet size
Source: FreightWaves
FreightWaves Research found that 65% of survey respondents planned to increase their fleet size over the next year. And a significant percentage had already increased their fleets this past year.
LA and Newark lead port import growth
Source: Logistics Management
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