The Logistics of Logistics What's Next for The Freight Market with Chris Pickett
Joe Lynch and Chris Pickett discuss what's next for the freight market. Chris is the Chief Operating Officer at Flock Freight, a technology company that is on a mission to solve the US trucking industry's wasted capacity problem. Chris is also the Lead Market Analyst at Pickett Research, LLC – an independent market research firm focused exclusively on the dynamics that drive US truckload freight rates.
About Chris PickettChris Pickett is the Chief Operating Officer at Flock Freight, a technology company that is on a mission to solve the US trucking industry's wasted capacity problem. Its patented technology finds and fills underutilized trailer space so Shippers can save, Carriers can earn more, and goods can move terminal-free faster and more efficiently. Think faster than traditional LTL and with less damage and cheaper than underutilized FTL – while emitting 20-40% less carbon than the alternative. In addition to his role at Flock, Chris is also the Lead Market Analyst at Pickett Research, LLC – an independent market research firm focused exclusively on the dynamics that drive US truckload freight rates. Prior to Flock, he played key leadership roles (including Chief Strategy Officer from 2010-2020) at Coyote Logistics - a UPS Company, a leading provider of non-asset based 3PL solutions across North America and Europe. Chris' passion for understanding US Truckload Freight Market dynamics and predicting the direction of spot and contract rates stems from his work at Coyote over this period where long-term contract commitments were often made based on an expected long-term cost of capacity in the spot market. It has since become a borderline obsession, where his fascination in these market phenomena continues to drive the evolution of the market cycle framework and the predictive value it delivers. Before joining Coyote in 2006, Chris spent his early career in supply chain software development and network design – and studied at as many Eastern US tech schools as he could: earning a B.S. in Industrial & Systems Engineering from Virginia Tech, an M.Eng. in Logistics from MIT, and an MBA from Georgia Tech.
About Flock FreightFounded in 2015, Flock Freight is a technology company reinventing the supply chain through smarter, more sustainable shipping solutions. By leveraging its patented technology, Flock Freight matches locations, schedules, and compatible shipments, finding the best options to pool freight at scale among billions of possible combinations. As one of the first freight shipping companies to earn a B Corporation certification, Flock Freight's solutions for moving fuller trucks on optimized routes results in reduced carbon emissions by up to 40% compared to traditional methods. Flock Freight was recently recognized as one of TIME's Most Influential Companies in the World and as a CNBC Disruptor 50. To learn more about the company, offerings, and careers, visit flockfreight.com.
About Pickett ResearchPickett Research was established in 2020 to fill a void in the US Truckload Freight Marketplace for analysis, forecasting, and market guidance that is both objective and credible. The mission at Pickett Research is to fill that void by leveraging a unique market philosophy, framework, and forecasting methodology that was developed and refined over more than a decade of commercial market experience scaling one of the largest and fastest-growing truckload freight brokers and 3PLs in North America from scratch. PR's flagship research product, The Pickett Line, launched January 2021 as a monthly publication available via paid annual subscription, provides an overview of current and expected future market conditions and a rolling forecast for national spot and contract truckload linehaul rates on a quarterly year-over-year basis for up to five years out. To learn more or to subscribe to the 2023-24 series, visit www.pickettresearch.com.
Key Takeaways: What's Next for The Freight Market- Chris Pickett is the Chief Operating Officer at Flock Freight, a technology company that is on a mission to solve the US trucking industry's wasted capacity problem.
- Chris is also the Lead Market Analyst at Pickett Research, LLC – an independent market research firm focused exclusively on the dynamics that drive US truckload freight rates.
- In the podcast interview, Chris and Joe discuss what's next for the freight market, a topic where Chris is recognized as an industry expert.
- Pickett Research's flagship research product, The Pickett Line, is a monthly publication available via paid annual subscription, provides an overview of current and expected future market conditions and a rolling forecast for national spot and contract truckload linehaul rates on a quarterly year-over-year basis for up to five years out.
- Flock Freight is a technology-driven logistics company that specializes in pooling shipments to increase efficiency and reduce transportation costs.
- Flock Freight uses proprietary algorithms and machine learning to optimize the shipping process and identify opportunities for consolidation.
- The company's technology platform allows shippers to easily book and track shipments in real-time and provides carriers with better access to high-quality freight opportunities.
- Flock Freight's unique approach to shipping has helped to reduce greenhouse gas emissions by minimizing the number of trucks on the road.
- Flock Freight is a B Corp, which means they meet the highest standards of verified levels of social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.
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