Legislation and Trends to Watch
The logistics industry has been the object of several new regulations and numerous market trends over the last few years. It's currently dealing with a truck driver shortage that, in turn, makes it more difficult to secure “capacity" with over-the-road (OTR) carriers.
The driver shortage is expected to persist, with the American Trucking Associations projecting a shortage of 175,000 drivers nationwide by 2026.
Other key regulations impacting logistics are the electronic logging device (ELD) rule and new changes to the hours of service (HOS) rule. Both regulate the number of hours that a driver can be behind the wheel and how he or she logs those hours.
More globally, issues like the trade wars, global tariffs, and Brexit are also impacting the way companies trade goods—both domestically and overseas. This directly impacts anyone working in the logistics, transportation, and supply chain industry, all of which are either directly or indirectly affected by these policies and governmental decisions.