2022’s deflationary market conditions gave shippers more flexibility and service options
Despite favorable market conditions for shippers, nearly half of the truckloads shipped in 2022 were partially empty - wasting capacity and costing money, time, and fuel.
This report with Drive Research explores how freight market conditions evolved year-over-year, what supply chain inefficiencies arose, and why shippers continue to be impacted.
Shippers paid $1,988 on average for each damaged & late LTL shipment in 2022.
Although market conditions fluctuate year-over-year (YoY), shippers are still experiencing the same inefficiencies in a deflationary market as they were in an inflationary one. 10x the number of shippers reported experiencing negative effects of OTIF regulations in 2022 than they did in 2021.
Last year, Flock partnered with Drive Research to conduct a study that revealed these disruptions weren’t from lack of available space to carry these goods, but rather, inefficiencies in the supply chain: half the trucks clogging dockyards and highways were moving at less than-maximized capacity.
The 2023 study reveals that wasted capacity and additional fees aren’t dependent on freight market conditions.
Download Flock’s latest report on the top issues affecting shippers last year.