Sleek Unveils 2022 State of Freight Procurement Report
2021 was one of the most challenging for shippers yet, and set the stage for an equally hectic 2022. And with that, so many questions remain top-of-mind for shippers. For example: how has COVID impacted the space? What will technology adoption look like in 2022? And is the industry in a better place operationally than it was pre-pandemic? These are just a few of the questions we looked into as part of the 2022 State of Freight Procurement Report.
Polling over 300 senior logistics decision-makers – from C-Suite to VP/Director levels – at shippers with over $100 million in annual freight spend, this year’s report dug into some of the key factors that are top-of-mind for the freight procurement industry – ranging from freight spend to technology adoption. Key findings include:
Nearly All Shippers Will Increase Freight Procurement Budgets in 2022
According to the research, 97% of shippers say they plan to increase their freight procurement budgets in the wake of COVID with hopes of being able to better manage capacity, increase agility, bolster cost management and deliver better overall results. Furthermore, of all respondents, 52% are expected to increase their freight procurement budget by 25% or more year over year.
Nearly All Shippers Invested in Freight Procurement Upgrades Since the Pandemic Began
In addition to increasing freight spending in 2022, per the study’s finding, nearly all shippers (96%) have invested in new technology or strategies to help boost freight procurement performance as a result of COVID-19, with 95% saying their freight procurement operations have either “significantly improved” or “somewhat improved” since the start of the pandemic.
Automation a High Priority
Bolstering automation capabilities is a foremost objective for many shippers moving forward with 66% of respondents saying that automating freight procurement operations has become a “high priority” for their organization with another 31% saying that it is a “medium priority.”
Want to learn more, or find out what shippers believe are the biggest hurdles and recurring issues in freight procurement?
Download the full report here.