Companies such as Hasbro, Kellogg, and Tyson Foods have been in the news recently speaking on the impact that higher freight costs are having on their bottom line, with Tyson’s CEO Tom Hayes noting that the company’s shipping costs are expected to grow by $250 million this year. In fact, according to DAT Solutions, the cost per mile for spot rates is up 29% year-over year and tightened capacity is definitely one of the culprits.(1)
Internet of Things, 3D printing, sensors, self-driving vehicles, electric logs: if there's one thing that stays the same in shipping and logistics, it's that everything changes. One big change in logistics that will reshape how we do business is the impact digitization will have on our industry. But even though it's a huge buzzword right now, many people in logistics don't know what digitization will mean to our industry. Here's a brief overview to help get you started.