The Logistics Lifeline | June 2024
Welcome to June’s edition of the Logistics Lifeline. We created this newsletter for companies and individuals that want to keep up with the fast pace of an ever-changing market.
Below you will find a monthly recap of the supply chain topics we’re watching, including essential aspects of drayage, container management, distribution and fulfillment, network transportation, technology, and what it takes to join the team at ITS.
Get up to speed with rail ramp and port conditions with June's US Port/Rail Index
The June Port/Rail Ramp index is out, and as we analyze current trends, here are some things to think about:
- Volume Increases: Significant increases expected at US West Coast ports due to potential East Coast port strikes.
- Labor Dispute: Potential ILA strikes at East Coast ports could shift more shipping to the West Coast.
- Market Dynamics: Increased Asia dwell times impact inbound volume but improve port operations. Carriers may boost capacity to handle rising trans-Pacific rates.
Inform Your Distribution + Fulfillment Decisions with the Q2 Distribution + Fulfillment Index
ITS's Q2 2024 Distribution and Fulfillment Index is here! Here are some quick highlights:
- There was a notable rise in the national industrial real estate vacancy rate to 6.2% in Q2, up from 5.7% in Q1.
- Regional wages continued to rise, averaging $18.99.
- Despite economic shifts, consumer sentiment remained strong, reflecting a 28.1% increase from March 2023.
- As wages rose, so did the demand for warehouse automation to manage labor costs effectively.
ITS Logistics Expands to Fort Worth with New Transportation Center
We are thrilled to announce that we’re opening a new Transportation Center in the heart of Fort Worth's Cultural District, set to go live in Q3 2024! 🚛✨The center consists of just under 20,000 sq. ft. of newly remodeled space including state of the art working and meeting areas, a wellness center and gym, an employee lounge, and more. Learn more here.
Sustainability in 2024: What is Realistic?
The logistics industry has a real responsibility to implement sustainable practices, many of which require heavy investment. However, there are some ways to get started in sustainability while staying economically viable. Learn more about practical strategies.
5 Key Takeaways from ACT Expo 2024
Now in its 13th year, the ACT Expo / ACT News 2024 has seen remarkable growth, which is evident in the doubling of the exhibition floor since the previous year. This growth demonstrates the escalating interest and investment in this crucial sector. Read about our 5 key takeaways from the expo.
Meme of the month: