TRUCKERS: AS A LEADING ECONOMIC INDICATOR, WHERE DO YOU SEE THE ECONOMY TRENDING?
Executives at trucking companies hold a cautious view of the economy this year. True, only 12% of survey respondents say the economy is trending downward. That’s the same proportion as in 2022. But only 22% think it’s getting better, compared with 40% one year ago. Two- thirds say the true state of things is somewhere in between. And no wonder there’s so much uncertainty. Political and economic tensions between the United States and China, the ongoing war in Ukraine, high energy prices, climbing interest rates, and other di¢cult conditions make it hard for businesses, including trucking companies, to determine how to move forward.
Downward
12%
66%
22%
Upward
Somewhere in between
SHIPPERS: WHICH IS MORE IMPORTANT, YOUR RELATIONSHIP WITH YOUR CARRIER OR WITH YOUR BROKER/ INTERMEDIARY?
Not all the shippers who participate in our survey are directly involved in finding and buying trucking services. Fourteen percent are not, presumably relying on brokers or third-party logistics providers (3PLs) to make those decisions on their behalf. SHIPPERS: DO YOU BUY OR PARTICIPATE IN SOURCING/ PURCHASING TRUCKING SERVICES? The percentage of trucking companies that also provide third-party transportation services continues to creep up—87% this year compared with 86% in 2022 and 84% in 2021. TRUCKERS: DO YOU HAVE A FREIGHT BROKERAGE OR LOGISTICS SERVICES DIVISION/ SUBSIDIARY?
No
14%
86%
Yes
Broker/ intermediary
17%
No
54%
13%
30%
87%
Carrier
Equally important
Yes
About half of shippers continue to believe their relationships with carriers and with a broker or other intermediary are equally important. This year, 54% of shipper respondents express that conviction, just slightly down from 56% in 2022. Among shippers who feel that one type of relationship carries more weight than the other, carriers win, garnering 30% of the vote, versus 17% for brokers/intermediaries.
SHIPPERS: WHAT IS YOUR ROLE?
Carrier
14%
Among the shippers who responded to the survey this year, 67% buy transportation for freight that they themselves ship or receive. Nineteen percent of shipper responders are third-party service providers, securing capacity for their clients. Another 14% are carriers who buy capacity to fill holes in their own coverage.
19%
67%
Broker, 3PL, or other intermediary
Shipper or consignee
September 2023 • Inbound Logistics 43
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