Trucking volumes are heating up. Watch to learn what less-than-truckload (LTL) carriers need to know.
As the country continues to wrestle with COVID-19, the steady rise in volumes has become a positive sign that freight is recovering. This is much to the delight of less-than-truckload (LTL) carriers, as many have struggled to stay afloat amid the pandemic.
FreightWaves market analyst Zach Strickland sat down with Chad Crotty for insight into the rising volumes and to learn how LTL carriers should adapt to the upward-trending market. Watch the video interview now:
To prepare themselves for the volume recovery, Crotty advises LTL carriers to closely manage receivables, tighten their credit terms and dedicate more time to workforce planning, including more permanent work-from-home programs if needed.
“Carriers should be focused on business continuity and recovery planning,” Crotty said. “They should be documenting processes of the changes they’ve made as a short-term stopgap. But at the same time, they should also be looking at their long-term plans to determine how to best mitigate potential risks.”