Odd Lots This Is What It Takes to Win in the World of Freight Brokerage
May 27, 2022
Matt Pyatt, CEO of Arrive Logistics, discusses the complexities of freight brokerage. He explores how technology enhances efficiency while emphasizing the essential need for human relationships in the industry. Pyatt also highlights current market trends, including the effects of rising diesel prices and the balance of spot versus contract rates. Additionally, he delves into the evolution of business models post-pandemic and the opportunities presented by automation and cross-border trade, all while maintaining competitiveness in a fragmented market.
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Freight Market Slowdown
- The freight market is experiencing a slowdown, particularly in the spot market.
- Contractual freight is more favorable for carriers and brokers due to elevated fuel surcharges and higher spot market competition.
Consumer Spending and Freight Demand
- Consumer spending is normalizing after a spike during the pandemic.
- It's too early to determine the long-term impact on freight demand due to factors like inventory levels and economic conditions.
Arrive Logistics Origins
- Arrive Logistics began by managing a shipper's transportation network and has grown significantly since.
- The company started with a focus on managing freight spend and expanded from there.