A fundamental change in demand or significant change in supply is needed before the trucking industry can recover from a prolonged freight recession.
At least three years of a freight downturn have passed, and while there have been potential signs of a turnaround, solid indications of an improving market remain elusive. On top of weak freight demand, trucking firms are also dealing with CDL compliance issues and assorted regulatory changes.
However, industry executives and leaders aren’t sitting idly on the sidelines. They are being proactive and looking internally at ways to make operations leaner and smarter so that when the rebound arrives, they will be ready to react.
Experts interviewed by Trucking Dive discussed strategies to build resiliency and work through a tepid business environment. Here is what we found.