CITY OUTBOUND TENDER VOLUME INDEX — LOADS MOVING LESS THAN 100 MILES
new construction and multifamily housing . There remains a backlog of projects as homes authorized but not started remain at historic highs and homes under construction remain above pre-pandemic levels .
Freight demand from hauling building product materials will likely be subdued coming from the remodeling segment . Many cashstrapped Americans will take their time with projects as they consider other financial priorities , such as holiday spending hangovers , travel , student loans and other debt obligations . Homeowners will also be impacted by the elevated interest rate environment , which increases the cost of home equity loans . This will reduce the number and scope of projects for renovations , another potential freight volume
The flipping of the calendar does not reset the trends already at play throughout the end of the previous year . The trends mentioned certainly can paint a harsh outlook in 2024 , but there is always an opportunity for growth . There will need to be more emphasis on ramping up efficiency and utilizing technology to its fullest potential . However , purchasing new technology or blindly incorporating AI will not automatically fix problems . Understanding what your exact needs are and being able to execute on them will be paramount when sourcing your tech needs .
Look further upstream for partnership opportunities and capture more activity from those who aren ’ t specialized in the final-mile space to remain competitive . When making a data-backed decision , it is also important to make sure you are using not only good data but recent data . Avoid getting lost in just one indicator or making a decision from expired data sets while new trends are developing . Utilizing near-real-time data from FreightWaves SONAR is one of the ways to understand what trends are forming and to make proactive decisions . CLDA
FreightWaves is a price reporting agency ( PRA ) focused on the global freight market and the leading provider of high-frequency data for the global supply chain . Freight- Waves ’ price , demand , and capacity data allow customers to benchmark , analyze , monitor , and forecast the global physical economy . For more information , go to freightwaves . com
fall 2023 I customized logistics & delivery Magazine 23