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Friday, September 03, 2010
Friday, September 03, 2010
Supply Chain Management (SCM) News
Posted: Wednesday, January 13, 2010, 9:43AM
RELATED NEWS
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KNOWLEDGE MANAGEMENT TAGS
"Benchmarking", "Supply Chain Management"
Industry caution could force transport price hike
Transportation executives across the shipping world are cautious about the prospects for economic recovery in 2010, a stance that could lead to a hike in transportation costs, new research warns.The special Annual Review & Outlook edition of The Journal of Commerce suggests transportation carriers plan to restrict any additions of new capacity for the rest of the year until there are clear signs of real economic growth.
"That cautious approach, some industry leaders suggest, could trigger a rapid upturn in shipping prices if demand scales up more rapidly than forecast," the report stated.
It noted that, for shipping industry providers and customers, 2009 will go down as one of the worst years in modern transportation history: "Markets from retail to industrial tanked as the recession deepened, driving down international and domestic trade and forcing drastic measures as red ink flowed among transportation providers and suppliers alike.
However, the report noted that as the economy stirred late last year, attitudes began to shift from "How do we survive?" to "How should we prepare for the recovery?"
"This marked a dramatic turnaround from the hopeless feelings of a year ago, and represented another testament to the resiliency of best-of-breed companies capable of weathering even the worst of downturns," the study noted.
Including 170 interviews with senior transport executives, the yearly supplement provides in-depth analysis of the maritime, rail, trucking, logistics and trade landscape, critical statistical data and a comprehensive roundtable discussion with three prominent shippers.
Procurement Tags - Benchmarking, Supply Chain Management
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