From the COVID-19 pandemic to the Suez canal blockage and Russia’s invasion of Ukraine, the global supply chain has taken a beating over the past couple of years. Now, with a recession on the horizon, it looks like a major blow is on its way.
Doft in Press
The trucking industry is dealing with a big problem: we are anticipating a shortage of 100,000 drivers in the next year. Companies are looking to fill these spots with new hires that may not have been able to thrive in the industry before.
In trucking and logistics, men make up 85% of the workforce. According to the American Trucking Association only about 7.8% of the United States' professional truck driver workforce are women, but THRC’s research, Millennials Have Drive 2, found that women make up about a third of ‘"warm leads" who say they may consider a job in trucking.
Strong freight demand and tight truck capacity continue to squeeze the supply chain. Here's how utilizing new technology can improve working conditions and efficiency.
By Dmitri Fedorchenko from Doft
Trucking tech is more than just the CB radio. Way more.
The pandemic created the worst supply chain entanglement anyone had ever seen before. But modern problems require modern solutions. Implementing digital brokerage is a great way to unplug the bottleneck in the supply chain. Going digital will push the freight industry forward and make it easier for companies to connect globally.
The American Trucking Association estimates that the 2021 driver shortage capped at 80,000 drivers. According to experts, if this current trend continues, the trucking industry could need more than 160,000 drivers by 2030.
The current supply chain crisis is upping the cost of shipping. In October 2021, the median price of shipping a standard rectangular metal container from China to the West Coast of the United States hit a record $20,586. There is also an exploitation problem, where small businesses and consumers are feeling the brunt of rising freight costs.
In the opening days of COP26, it became clear that the event would not accomplish the lofty goals necessary to tackle the climate crisis. For example, instead of agreeing to and implementing concrete policies, world leaders at the G20 summit all threw coins into the Trevi Fountain in Rome for "luck" to face the climate crisis.
Over $11 billion has been invested globally in last-mile logistics over the past decade, showing the growing importance of the last leg of a shipment’s journey. This reality is especially prevalent with E-commerce exploding—up 33% to $792 billion in 2021 alone.
COVID-19 showed that many companies are not fully aware of the threats that can arise to their relationships with partners. Fortunately, many modern technologies can increase the transparency of operations throughout the supply chain.
Don’t be afraid to make mistakes as they will make you stronger.
First of all, mistakes are part of our business experience — that’s absolutely normal.
Aspart of our series called “5 Things I Wish Someone Told Me Before I Began Leading My Company” I had the pleasure of interviewing Dmitri Fedorchenko.