It’s no secret that the global economic crisis removed the veil that had obscured some fundamental weaknesses in business practices across the transportation and logistics sectors.
When times were good and it appeared that cargo container volumes would double every 10 years forever (remember the go-go years of 1998 through 2008?), the biggest challenges the logistics community seemed to face where how to clear cargo faster, how to get trucks in an out of port with fewer delays, and where best to store empty chassis (while keeping precious wharfs available for ever-growing stacks of containers).
But not everyone shared the fruits of the boom equally, and when the bottom fell out with the onset of the financial crisis in September 2008, many players suddenly found themselves struggling to survive.
This has been especially true in the realm of trucking firms specializing in LTL, the historic carriers of goods the first mile, from factory to dock, and the last mile, from warehouse to end user.
As in any recession, mega-carriers like FedEx and UPS have continued to expand their services and stand firm; smaller carriers—even those geographically well positioned—have been suffering. Full Story.......