In 2021, U.S. Bank processed $37 billion in freight payments for some of the world’s largest corporations and government agencies. Those payments and the data that accompanies them are analyzed quarterly by Bobby Holland, U.S. Bank vice president and director of Freight Data Solutions and his team. The FPI report includes quarter over quarter, year over year, and full year data and analysis.
According to a summary released by U.S. Bank, “Truck freight spending was up 27.5% year-over-year and 1.2% compared to the fourth quarter of 2021. This marked the fourth consecutive quarter that spending increased for shippers, keeping the total measure at the highest recording in the history of the index.”
In this interview, Bobby is joined by Cathy Morrow-Roberson with Logistics Trends & Insights LLC, to share the results of the on the Q1 2022 report with Supply Chain Now Co-hosts Greg White and Scott Luton, interpreting what they may mean for the economy and the shipping industry in the short and longer term.
• The expected ‘dip’ observed in Q1 2022 wasn’t as steel as it could have been, especially given a confluence of supply chain disruptions
• Which regions were hit hardest by the spike of COVID-19 in the first quarter of the year
• The mode shifting observed that may have directed volume away from truckload and less than truckload freight
Additional Links & Resources:
Learn more about Supply Chain Now: https://supplychainnow.com/program/supply-chain-now
Subscribe to Supply Chain Now and all other Supply Chain Now programs: https://supplychainnow.com/subscribe
Leveraging Logistics and Supply Chain for Ukraine: https://vectorgl.com/stand-with-ukraine/
WEBINAR- How to Solve Three Common Peak Season Challenges: https://bit.ly/3r3Qxel
WEBINAR- The 10 Best Competencies of Best in Class Warehouses: https://bit.ly/3vh3MLd
2022 Q1 U.S. Bank Freight Payment Index: https://bit.ly/3pwmWKC
Check out the 2022 Supply Chain and Procurement Awards: https://supplychainprocurementawards.com/
This episode is hosted by Scott Luton and Greg White. For additional information, please visit our dedicated show page at: https://supplychainnow.com/analysis-us-bank-q1-freight-payment-index-884
