Addressing the risk in trucking
Truckstop.com is charged with giving shippers information in real-time so that they can mitigate risk by addressing contractual rate structures and plans for extended service.
Transportation in the News
Don’t call freight volume recovery a comeback FTR Shippers Conditions Index falls but remains in growth mode Yellow, Teamsters union butting heads a year before contract deadline Industry stakeholders call on White House to aid in West Coast port labor talks U.S. rail carload and intermodal volumes are down, for week ending March 18, reports AAR More Transportation NewsBoise, Idaho-based TruckStop.com, the umbrella brand for multiple logistics technology and support software companies, recently named Noël Perry as its chief economist, though he will continue to provide independent consulting services and remains a managing partner with research firm FTR Transportation Intelligence.
“The job title, could just as well be Chief Risk Management Officer,” he says. “As an economist, it’s my job to evaluate all the possible risks posed in each forecast,” adds Perry. “This is particularly true as it relates to Big Data.”
Thanks to recent advances in information technology, there’s never been such a wealth of facts and analytics captured by today’s research firms. But the sheer volume of these numbers can easily overwhelm logistics managers, Perry contends.
“I am a great believer in the Peter Drucker maxim that one must know where one stands today before speculating on the future,” he says. “Drucker was a management visionary who used common sense rather than becoming too reliant on numerical abstractions.”
To that effect, Truckstop.com is charged with giving shippers information in real-time so that they can mitigate risk by addressing contractual rate structures and plans for extended service.
“And the important thing to remember,” says Perry, “is to examine regional trends rather than just what is happening in the national picture. Market strength of certain short-haul regions can mean constrained capacity and higher rates.”
Indeed, Perry has predicted that rates will finally strengthen to sustainable levels in several supply chain corridors.
“The prevailing wisdom up until now, has been that rates would remain soft everywhere,” he says. “But we are seeing finally seeing a correction in that trend.”
In the wide-ranging risk scenario, it’s worth noting that Truckstop.com also serves as one of the largest credit reporting entity in the transportation industry, helping logistics managers guard against fraud and choose the right partners for their business.
About the Author
Patrick Burnson, Executive Editor Mr. Burnson is a widely-published writer and editor specializing in international trade, global logistics, and supply chain management. He is based in San Francisco, where he provides a Pacific Rim perspective on industry trends and forecasts. He may be reached at his downtown office: [email protected].Subscribe to Supply Chain Management Review Magazine!
Subscribe today. Don't Miss Out!Get in-depth coverage from industry experts with proven techniques for cutting supply chain costs and case studies in supply chain best practices.
Start Your Subscription Today!
Article Topics
It’s high time to go beyond visibility Driving supply chain flexibility in an uncertain and volatile world View More From this Issue