With 2024 just a couple of days away, I’m looking forward to what the brand new yr has in store. At the identical time, it allows us all to reflect on 2023. But most of all, it’s a strategy to give due to an industry that has provided a lot insight, collaboration, networking and fervour.
Listed here are a couple of of my observations looking back at 2023 and my predictions for 2024.
2023 was one other yr stuffed with challenges, disruptions, some endings, in addition to latest beginnings.
Personally, I started a brand new journey in August once I began my very own advisory company.
But as an industry, we observed some larger corporations, which had received a whole lot of private equity backing, exit of business. We even saw some large logistics providers going bankrupt. But at the identical time, we also identified a whole lot of latest startups gaining traction and becoming more visible in that very same complex and difficult market.
In hindsight, 2023 was a reset yr in some ways. Rates hit rock-bottom and it forced corporations to give attention to survival. With that got here a hunger to alter the best way things were done. In some cases, that meant letting go of individuals. In others, that meant more adoption of technology. And for some, it was a mixture of each. We’ll proceed to see this appetite increasing in 2024, which could have a positive impact on the further adoption of logistics technology.
As an industry, we got here together, which was witnessed not only on the networking at a number of the larger events like Manifest or FreightWaves’ F3: Way forward for Freight Festival. Behind-the-scenes, there was so much more communication happening between established players partnering for survival, in addition to startups collaborating to realize insight to grow to be more efficient so as to grow their enterprises.
I expect 2024 will bring more collaboration and with great events in addition to logistics community groups like Ballast, all of us can contribute to connecting and grow to be a tighter community.
All of that offers me confidence that we’re well positioned to hit the bottom running in 2024. Don’t get me incorrect, 2024 could have its own challenges, and although we’re on the strategy to economic recovery, it won’t be a walk within the park.
The past yr has hardened in addition to prepared us and equally allowed us to collaborate in a way that we will beat any obstacle that’s going to be thrown at us in the following yr.
My skilled and private wish is that 2024 will probably be crammed with industry collaboration and positivity that may allow us as an industry to grow, strengthen and lead us to success for all.
Our nation is counting on the logistics industry to proceed providing the services that bring materials and products to each industry, to deliver the food that we have now on our tables and mostly to stay that key function that’s core to produce chains all around the world.
So let me finish off my last article of the yr by thanking the ladies and men on the front lines: our drivers in addition to the oldsters in dispatch and operations. And at last, to the managers and executives: keep the religion and stick in there. Individuals are counting on the logistics industry.
Thanks and have an excellent begin to the brand new yr.
Search for more articles from me every week on FreightWaves.com.
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