In 2022, U.S. Bank processed $46 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.

Bobby opened the conversation by sharing his five key takeaways from the first quarter of 2023: the trucking market continues to be soft, quarterly and yearly metrics for shipments and spend both dropped for the first time in three years, the Southwest outperformed while the Midwest continued to struggle, and the Southeast saw an 8 percent increase in yearly spend despite 16 percent fewer shipments.

In this interview, Bobby was joined by Michelle Moore, Head of Supply Chain at GAF, to share and discuss the results of the Q1 2023 report with co-hosts Scott Luton and Greg White:

• Why national shipment volume being lower than spend indicates there is a capacity issue

• Signals that the drop in activity in Q1 2023 is more significant than the regular seasonal reduction U.S. Bank would expect

• How a decline in manufacturing activity is impacting capacity at the regional level

Additional Links & Resources:

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Leveraging Logistics and Supply Chain for Ukraine: https://vectorgl.com/stand-with-ukraine/

2023 Q1 U.S. Bank Freight Payment Index: https://freight.usbank.com

WEBINAR- How Collaboration, Tail Spend Management, and VMI Can Improve Up and Downstream Communications: https://bit.ly/41jsl85

WEBINAR- “Decoding Digital Transformation” – Charting a path forward: https://bit.ly/3VvVc6V

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-1115