Data and insights in the 35th Annual Council of Supply Chain Management Professionals (CSCMP) State of Logistics Report® help shippers and carriers plan their business strategy for the remainder of 2024 and beyond.
The 35th Annual State of Logistics report, titled "Waiting for the Turn of the Tide," focuses on investing in supply chain technologies to accelerate resilience amid global economic volatility.
Top findings in this year's report include:
- U.S. business logistics costs are $2.3 trillion, representing 8.7% of the national gross domestic product.
- Demand has not yet fully recovered due to geopolitical conflicts, climate change, high inflation, high interest rates and, apart from the U.S., sluggish demand.
- Fragmentation of global trade is complicating supply chain transactions with over 1,000 U.S. freight brokerage closures since the 2023 report was released.
- 3PLs continue to work through challenges like high operating and insurance costs, low freight rates and excess capacity.
- Investments in emerging technologies are on the rise with artificial intelligence, end-to-end visibility and advanced automation at the forefront.
- Major global corporations have adopted rigorous environmental goals, as government funding programs have been launched to encourage decarbonization initiatives.
