Trends Seen In Our Data Suggust America Is Getting Back To Work

America is getting back to business, and our data shows it. At Sleek Fleet, we continuously drill down into data to uncover industry trends and insights for our customers. June trends are encouraging and point to the pandemic moving into America's rearview mirror. "June freight volumes are strong", said Mike Nervick, Sleek Fleet CEO. "Our first-party data revealed a +60% increase in freight volume month-over-month, which supports other news that supply chains are shifting back to full capacity". In addition to volume increases, June data also revealed a rise in driver activity. "Usually when the freight volume increases, so does the total number of driver bids", said Oleg Yanchyk, Sleek Fleet CIO. "Our proprietary recommendation engine, Sleek Match Engine, helped produce a +90% increase in bids month-over-month, and a +24% increase in the number of bids per load". It's exciting to see the number of bids per single load climb because a healthy marketplace is created. When there is a healthy marketplace, based on supply and demand, fair market cost is generated for the shipper and fair market pay is generated for the carrier/driver. It's a win, win for everyone. To learn more about Match Engine, read our press release here: https://www.sleek-technologies.com/proprietary-machine-learning-platform-to-find-perfect-driver-for-loads/} Join our newsletter. click here

House lawmakers vote to raise mandatory insurance coverage to $2MM

FreightWaves reports that lawmakers have approved increasing insurance required for truck drivers. "Unfortunately, this amendment will cause many small carriers to go out of business," said Dean Corbolotti, Sleek Fleet Director of Shipper Engagement. "Carriers are struggling. Covid has driven freight rates down, and decreased volume has made it tough for carriers to effectively reduce deadhead miles. Not to mention the costs of operating a truck, outside of fuel, have risen." #SleekPOV To read the FreightWaves article, click here: https://www.freightwaves.com/news/house-vote-imminent-to-raise-mandatory-insurance-coverage-to-2-million?utm_source=piano&utm_medium=email&utm_campaign=2630&pnespid=1Ld986ZDCgGNbK4Xnvj3Vx6FzADT8wVWZuSSIT_y Join our newsletter. click here

ATA Truck Tonnage Index Plunged 12.2% in April

For April, American Trucking Association (ATA) reported massive declines in truck tonnage year-over-year. The retail industry was hit hard, while food saw increased demand. "The decline in tonnage is really no surprise. Once production of non-essential goods stopped, so did the shipments," said Mike Nervick CEO Sleek Fleet. #SleekPOV Not only is Sleek Fleet providing capacity to move essential goods across America, but customers are gathering NEW data and insights to make stronger, informed transportation decisions. "Our customers have real-time access to actual driver cost and 3PL markup on their lanes. Our data provides trends that historical rate data, and generic market rate data can't provide to help navigate market fluctuation", said Nervick. https://www.trucking.org/news-insights/ata-truck-tonnage-index-plunged-122-april Join our newsletter. click here

Companies Lean on Freight Tech to Untangle Scrambled Supply Chains

A recent WSJ article shared that technology is helping companies streamline supply chains, so they are positioned to rebound more quickly when new challenges arise. "Smart companies are adapting because of the current disruption, and that is leading to long term investments towards improvement," said Mike Nervick, Sleek Fleet CEO. #SleekPOV https://www.wsj.com/articles/companies-lean-on-freight-technology-to-untangle-scrambled-supply-chains-11590573600 Join our newsletter. click here