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Episode 30 Five 2023 Trends to Watch
Episode 30 highlights five trends to watch in 2023 within the logistics and transportation industry.
Transcript:
Electric Semi Trucks
The semi-truck is officially here, and it is time to start thinking about how your company will adapt. The government is determined to spend the needed funds to see that carbon emissions are reduced. California to on board, and more states will follow as the charging station infrastructure gets implemented across the highways.
Although some charging station is having issues in the cold, these will be addressed. With any new technology, there are bugs to be fixed. Some never get fixed, and others become the industry standard.
Technology enabling visibility
The push for visibility is also top of mind with shippers. Freight theft is not slowing down. As interest rates continue to climb and the cost of money rises, the desire to steal also increases. The cost of goods rises daily, opening the door for higher theft. New technology inside the electric truck will be the answer.
Companies Reshoring from China
Companies returning from China and Europe will impact the transportation industry. As companies get closer to the consumer, prices may drop, yet other factors like fuel cost, rail transportation, and new vehicle purchases will influence the price of goods.
The Infrastructure Bill
Federal funding of the Infrastructure bill is going to help boost the economy. States are already spending money to upgrade highways and bridges. Thus, this will cause a trickle effect on the economic spending machine. I do not foresee state governments spending too fast because they know the money has to last. The cost of borrowing is too high, so it is better to hold onto the cash until these interest rates go down.
Ports Construction and Rail Freight Congestion
Ports like Savanah and Los Angles are building now, which will help the flow of goods out of the ports. However, when the reshoring of companies starts to taper off, it will be interesting to see what happens to all the extra space the seaports will have and what they plan to do with it. I predict that temporary warehousing facilities may be constructed. Although the fear of flooding when major hurricanes come through is a concern.
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By Jewell WilliamsEpisode 30 highlights five trends to watch in 2023 within the logistics and transportation industry.
Transcript:
Electric Semi Trucks
The semi-truck is officially here, and it is time to start thinking about how your company will adapt. The government is determined to spend the needed funds to see that carbon emissions are reduced. California to on board, and more states will follow as the charging station infrastructure gets implemented across the highways.
Although some charging station is having issues in the cold, these will be addressed. With any new technology, there are bugs to be fixed. Some never get fixed, and others become the industry standard.
Technology enabling visibility
The push for visibility is also top of mind with shippers. Freight theft is not slowing down. As interest rates continue to climb and the cost of money rises, the desire to steal also increases. The cost of goods rises daily, opening the door for higher theft. New technology inside the electric truck will be the answer.
Companies Reshoring from China
Companies returning from China and Europe will impact the transportation industry. As companies get closer to the consumer, prices may drop, yet other factors like fuel cost, rail transportation, and new vehicle purchases will influence the price of goods.
The Infrastructure Bill
Federal funding of the Infrastructure bill is going to help boost the economy. States are already spending money to upgrade highways and bridges. Thus, this will cause a trickle effect on the economic spending machine. I do not foresee state governments spending too fast because they know the money has to last. The cost of borrowing is too high, so it is better to hold onto the cash until these interest rates go down.
Ports Construction and Rail Freight Congestion
Ports like Savanah and Los Angles are building now, which will help the flow of goods out of the ports. However, when the reshoring of companies starts to taper off, it will be interesting to see what happens to all the extra space the seaports will have and what they plan to do with it. I predict that temporary warehousing facilities may be constructed. Although the fear of flooding when major hurricanes come through is a concern.