Coronavirus Pandemic Impacts our Freight Rates

On March 13th 2020, President Trump declared a national emergency for what is now known has the Coronavirus (COVID-19) pandemic. This virus which originated in Wuhan, China has made its way to the United States affecting all of our daily lives.

From slower production from our China vendors to Mass Quarantine, the world has had to make critical adjustment to stop the spread of this horrific virus.

As we adjust to employees being asked to work from home, we will need to continue to explore ways to efficiently run our businesses with staff not at full capacity.

With grocery stores being ransack by “panic buyers”, managers are being pressed to make sure inventory is being replenish in a timely manner. Unfortunately, with this pandemic in effect we have seen a direct correlation with a fluctuation of freight rates.

Over the previous six months in the supply chain/logistics realms we have seen a steady trend that will continue in 2020. A decrease in shipping demand while experiencing continued freight rates fluctuations will lead to decision makers looking for answers.

As with any sector, supply chain is dependent on the consumer drive, current state of the economy and Mother Nature.

With the coronavirus pandemic in full effect and the economy floundering we’ll need to explore additional avenues that will allow our businesses to save money. We’ll continue to provide value to the supply chain world by providing and supporting our free Instant Freight Rates tool that will allows shippers to instantly retrieve real time freight rates.

The rates are a product of real time data based on the current freight shipment market. After rendering a rate, you will have an option to secure the rate witch simultaneously books a truck for the shipment.

To learn more about our Instant Freight Rate tool we encourage you to check out our how to video on using the Instant Freight Rates tool on our homepage.

In these times of uncertainly, we strongly encourage our readers to work with vendor that aim to provide value to your organization. If you have any questions please reach out by sending an email to ray.mcdonald@insurelogistic.com.

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