What’s Next for the Freight Industry?
Covid-19 has been a major wakeup call for many industries, especially the freight industry. The volatility of the pandemic has exposed many weak links in the United State’s supply chain, but some shippers were better positioned to cushion this drastic fall and will emerge from this crisis much stronger than their competitors.
So what sets companies apart? One key distinguishing factor has been Transportation Management System Software. Here’s what you need to know:
- Transportation Management Systems (TMS) are software systems that help shippers optimize delivery routes, keep track of drivers and shipments, and share accurate ETAs with end customers with live GPS tracking integrations.
- Trucking volumes initially increased by about 30 percent in 2020 as a result of panic buying, dipped, and are now rising steadily once again
- Without Transportation Management Systems, companies rely on manual tracking mechanisms which are less accurate and less scalable, to be competitive, companies are realizing they must automate their processes and step away from old pen-and-clipboard methods
- The global rise of e-commerce lends itself to a solid growth runway for Transportation Management Systems, the TMS industry boasts a 13% CAGR from between 2020–2025 and a >$1B market