In early 2020, the market forecast for freight looked bright. The turmoil of the U.S.-China trade war appeared at an end, and few disruptions were believed to cause issues in 2020. Then, coronavirus happened to spread, and now, it will impact global supply chains. It is only a matter of time. Fortunately, understanding the facts and leveraging data through the top 2020 freight metrics can provide a protective effect. According to Logistics Management, experts were already questioning the risk of a recession:
“The North American economy remains strong, despite predictions of a recession on the horizon. In the meantime, some of this apparent strength is belied by the significant decline in freight volumes across several sectors. With that in mind, the key question we’re seeking to address is how all of this will influence the cost of North American freight management in 2020.”
There is no way to know how far the coronavirus may spread, and its disruption could last weeks, months, or even years. There is little supply chain professionals can do to stop it now, but they can help contain the virus by improving operations and knowing what is and is not working in their organizations. Take the time to start tracking the top 20 2020 freight metrics now.
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