Jesse Griffin

#Interesting and very #DESPERATE times ... if some carriers have embraced the concept of a "Loss Leader" just to keep the doors open. The concept of ... "Yea, we lose a $1 on every sale, but we'll make it up in volume" has #NEVER worked in retail and it definitely won't work here in trucking where it's #NOT $1 per load, but hundreds of dollars per load. I get it that there are some carriers that are just barely staying alive and hoping and praying the #CashFlow will keep them alive to fight another day. But losing money on loads, is #NEVER a good idea, especially when you are struggling. I personally know of one such TL carrier with over 400 trucks out of the Northwest that may not survive the month. I hope and pray that they do, for the sake of the drivers and employees. But when #Leadership is too proud to admit their mistakes, and unwilling to accept the recommendations of those wanting and willing to assist to help the carrier survive ... and even provide those services on a Pro Bono basis (for some that may not know the term, that's for #No #Charge) ... there's not much that friends or associates can do. Anyhow, enough about that ... read the article and I'm sure you'll walk away scratching your head. https://lnkd.in/gsvQDjCb

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With the 4th of July holiday fast approaching, I wanted to take a look at where June’s dry van truckload spot market rates stand to get a sense if the market is showing any signs of turning. Two charts below using data from DAT Freight & Analytics. Thoughts: •Top chart shows dry van spot rates as well as dry van broker buy contract rates. Dry Van spot rates, while up $0.06 per mile from the April low, are down $0.03 per mile from June 2023. Given diesel prices are down just $0.08 per gallon from a year ago (https://lnkd.in/g5sUVM8V), fuel isn’t driving this difference. •June 2024’s $0.03 increase over May is quite weak relative to what we have traditionally seen in dry van TL bull markets. In 2014 the increase was $0.11 per mile; in 2017 it was $0.10 per mile; and in 2018 it was $0.17 per mile. For that matter, the increase was $0.10 in 2019 (a down year)! As such, spot prices so far are a sign of a cruel summer—my daughter is obsessed with Taylor Swift—from a pricing standpoint. •Bottom chart shows the dry van spot market cycle indicator (DVSMCI), calculated as the broker buy rate less the spot rate, with the difference divided by the average of the two measures. That ratio is currently 16.6%. While better than last year’s 19.9% reading, we are well away from the 10% threshold where we have tended to see markets flip. Implication: dry van spot market data suggest that folks who made predictions of the dry van truckload market flipping from bear to bull in late Q2 or early Q3 likely made an overly optimistic forecast. I increasingly believe the earliest the market could meaningfully flip is Q2 2025, and this will require many things to go right from carriers’ vantages for this to occur. #supplychain #supplychainmanagement #freight #trucking #truckload

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Selecting the right shipping provider is crucial for your import supply chain's success. Here are 5 things to consider: 1. Know your free days before demurrage charges start. 2. Assess how fast and far your product needs to move from the port. 3. Opt for transloading if traveling over 200-250 miles from the port. 4. Decide on the visibility level needed for in-transit freight. 5. Use a single provider for efficiency and prioritized freight handling.  Working with a comprehensive provider like Schneider: - Simplifies your supply chain management - Reduces touchpoints - Prioritizes your success This leads to cost savings and better customer focus.

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If it was always this quick, I'd be retiring before I was 40...duh A top global logistics company asked me to find a Management level candidate to help them grow. So we went through the regular stuff: - Call to discuss the role specifics - What will the candidate be doing - Who will they be doing it with - How much they'll get paid And off I go. I went through my network and also had a peek in my little black book where I came across this very talented individual and I remember thinking “Is this really the right fit?” I did a screening call, I had a good feeling about them. Its hard to describe...but lots of you have had it...and it's great when it happens Anyway...I made the introduction and a formal interview was set up within a couple of days. Honestly...at this stage, it still felt a bit like every other hire I'd been involved in. But then things got really interesting. They met. Two hours later the hirer made an offer. “How can they make this decision so quick?” I was thinking. I thought long and hard and realised...it worked this way because: - All key decision-makers were in one room - There was a clear vision of who the right candidate should be - They knew how competitive the market is and how quickly that candidate could be gone. I honestly thought it was a wind-up at first. The candidate accepted within 48 hours of the verbal offer. Candidate is still with them. And here I am...still writing about it all this time after. I guarantee you it isn't always this quick but if you've got everything in place, you can make quick and correct hires without regretting it and wasting time. BTW. I'm still looking for a few more...just like this one ha ha ha #logistics #transportation #humanresources #ceo

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