Originally published in SupplyChainBrain
By Ashik Karim
Some call it an apocalypse. Others a bloodbath.
Whatever you call it, things aren’t looking good in the freight industry, where companies shutting down is now a daily event rather than something that only happens a few times a year. In fact, while the rest of the country is just now ringing alarm bells, truckers, shippers, and carriers have been using the term “recession” for months.
At first, it was just smaller carriers shuttering. Then names like New England Motor Freight started popping up on the ever-growing list of companies that have closed their doors this year.
Blame it on the trade war, on signals of a wider economic recession, on whatever you want: the bottom line is that things are bad, and might get worse.
At the same time, Silicon Valley clearly thinks logistics is an industry ripe for cost-saving technology to come in and save the day. Why else would Convoy, just one example of many, be valued at $1 billion?
Read the full article at SupplyChainBrain
Ashik Karim is CEO of LiteLink Technologies.