🚚🏆🧢 Freight Expectations, Supplying Success, & Driven to Distraction
Good morning! ☀️ Strap in as we deliver another high-octane issue straight to your inbox.
First up, Cass Information Systems isn't delivering great news: the freight industry's road to recovery seems more like a traffic jam, with slow-moving volumes and dipping prices. It’s bumpy out there.
On a brighter note, the folks at the Association for Supply Chain Management are popping the champagne. Their latest report reveals that while the freight might be slow, the cash flow and smiles in supply chain roles are speeding along nicely with high salaries and job satisfaction. Cheers to that.
But, keep those seatbelts fastened—Nationwide reports that road safety for company drivers is veering off-course, with increased distractions at the wheel. Remember, keep your eyes on the road… not on your emails.
Whether it's a slowdown or a speed bump, we'll help you steer clear of the chaos and cruise through your workday. Let's roll. 🏁
“Light tomorrow with today.”
Trucking | Shipping | Logistics
Freight Industry Faces Slow Recovery as Volumes and Pricing Continue to Dip
According to the latest from Cass Information Systems, it looks like the freight industry’s hoped-for rebound is still on standby. April's stats showed a dip in shipments and even with the season’s challenges—yep, that gnarly winter weather, a late Lunar New Year, and that mess with the Baltimore bridge—it’s a rough ride.
The numbers? Shipments are down 1.6% from March and 4% year over year. Plus, total freight-related spending took a hard hit, dropping 16.8% compared to last year. Tough times, but there’s a silver lining—Schneider National just noted some positives in contract rate negotiations, their first in six quarters!
But with private fleets and railroads picking up more loads, the traditional demand for for-hire freight is taking a hit. Might be time for a strategy tune-up if you’re in this space.
Why does this matter? These trends are more than just numbers—they’re a snapshot of the broader economic forces at play, affecting everything from your daily grind to your big-picture business strategies.
🔥 Our hot take? The shifts we're seeing might just be the push needed to rethink and potentially revamp how logistics and freight services are structured. Despite the downturn, there are niches and opportunities worth exploring, especially if you’re agile enough to adapt.
Jobs | Careers | Supply Chain Industry
High Salaries and Job Satisfaction Are Thriving in Supply Chain, according to ASCM
According to the latest scoop from the Association for Supply Chain Management (ASCM), and let me tell you, it's looking bright for supply chain pros. The 7th annual Supply Chain Salary & Career Report is out and it's nothing but good news: higher salaries, massive job satisfaction, and growth opportunities are all on the rise.
📊 Here’s the breakdown: This year, over 5,400 supply chain professionals reported an 8% jump in average salaries—yup, median pay has hit an all-time high of $103,000! Plus, a whopping 64% of folks are enjoying extra cash through bonuses and profit-sharing.
And get this—education pays! Those with degrees or supply chain-specific credentials are earning significantly more than the average. We’re talking about $25,000 more for degree-holders and a 10% salary boost for those with credentials.
On the tech front, AI and big data are becoming game changers, demanding a blend of technical savvy and sharp emotional intelligence. It's clear: to keep up, boosting your tech skills isn’t just nice—it’s necessary.
With 60% of professionals rating their job satisfaction 8 out of 10 or better, it’s evident that supply chain roles aren't just lucrative, they're also rewarding.
🔥 Why this matters? A thriving supply chain sector means smoother operations and better profitability for your business. It's a ripple effect of positivity—more innovation, more efficiency, and happier, more stable teams.
🚀 Our take? Embrace the tech. Whether it’s integrating AI, leveraging big data, or just updating your systems, staying ahead of tech trends is key. And with the sector's high job satisfaction, those happy, skilled professionals could mean solid, lasting partnerships for your business.
Driver Issues | Safety | Delivery Drivers
Road Safety Is At Risk After New Study Highlights Distractions for Company Drivers
A recent Nationwide study has flagged some big concerns for company drivers out there. Turns out, 34% of drivers are often distracted by tasks like GPS fiddling, radio tuning, or handling work texts and calls while on the move.
Here’s the kicker: 40% report being part of an understaffed team, leading to 61% shouldering heavier loads and 58% clocking in longer hours. What’s worse? Nearly half are hustling hard to meet deadlines, which means safety is taking a backseat—literally. About a third feel their company's safety focus has slipped.
Safety stats are sounding alarms too: 60% of drivers are worried about their own safety, with over half witnessing or being involved in accidents last year. Despite this, only 38% say their companies use tech like dashcams or telematics to boost safety.
Read more at News Nationwide >
🔥 Why you should care? These findings aren't just about individual safety; they reflect on your business’s efficiency and reputation. When drivers are pushed too hard, it’s not just accident risks that spike—the overall quality of service can suffer, and so can your bottom line.
👉 Our Hot Take: It’s high time to ramp up on the safety tech and training. Investing in dash cams, telematics, and comprehensive training isn’t an expense; it’s a necessity that pays off by reducing accidents, lowering insurance costs, and keeping those wheels safely rolling.
While it may seem costly upfront, enhancing your safety measures ensures your team isn't just larger, but smarter and safer.
Daily Riddle:
I whisper without a voice, connecting without a touch.
Invisible threads that bind your gadgets much.
From your phone to your ears, my reach does spread,
No wires needed, I float through the air instead.
What am I?
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Previous Riddle Answer: Pandemic
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 22, 2024, from iLevel Logistics Inc.