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 of the Q2 results released by U.S. Bank, “Spending on truck freight was up 3.3% compared to the first quarter and 19.7% year-over-year […] The West and Southwest regions had the highest year-over-year spending increases at 30.2% and 29.7%, respectively.”
In this interview, Bobby is joined by Donovan Kirkland with The Clorox Company to share the results of the Q2 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 changes in household spending, labor challenges, and fuel prices that are creating headwinds for the freight industry
• Some surprising data coming out of the Northeast region
• The “opportunism” that may be going on in the marketplace
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/
2022 Q2 U.S. Bank Freight Payment Index: https://freight.usbank.com
WEBINAR- 3 ways to stay afloat through the supply chain crisis: A distributor’s story: https://bit.ly/3uaUBeC
WEBINAR: Sustainability and Profitability: The ripple effect of shipping less air https://bit.ly/3A87xFM
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-q2-freight-payment-index-949