Logistics Outsourcing Trend To Benefit J.B. Hunt, Spot Rates Up 20%

As demand for spot truckload freight and spot rates accelerate, shippers have increased the amount of transportation and logistics services they outsource to third-party logistics (3PL) providers.

In a recent conference call on the 2018 Annual 3PL Study, it showed 83% of shippers outsource at least one aspect of their U.S. transportation needs to 3PL companies. John Larkin, trucking/transportation analyst for Stifel, hosted the call on the 22nd annual study, which was produced as a result of an email survey sent to more than 10,000 shippers and 3PL providers. The study was developed by Penn State’s Smeal College of Business, Infosys Consulting, Penske and Korn Ferry.

The gap between how satisfied shippers and 3PL companies are with a 3PL’s technology rose in 2017 as shippers expected “more predictive big data analytics that can drive more proactive decision making,” according to Larkin. “3PL’s have been a little slow to respond to this new customer desire.”   MORE

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