To say that we live in uncertain times is a dramatic understatement. Political uncertainty, the threat of new tariffs, and the coronavirus pandemic have all contributed to a highly volatile outlook. This uncertainty is compounded in the transportation sector, where growth is closely tied to the output of the global economy. Coupled with long-term trends that have resulted in more competitive threats, price pressure, and increased service expectations, this volatility could hardly come at a more challenging time.
This should be a call to action for managers across the transportation sector to critically assess how their businesses could be affected by an economic slowdown. Fortunately, new technology solutions can create new ways to prepare. For example, by reducing costs and better managing risks, companies can ensure that factors and other transportation players are protected against the threat of a volatile economy.