To be a successful freight broker, it is essential to anticipate future trends. If you are another transportation logistics industry stakeholder, keeping tabs on freight broker news is still helpful. After all, the freight brokerage industry plays an essential part in the flow of the supply chain. In this guide, we highlight key freight brokerage predictions for 2023.
1. Business Will be Steady and Strong
Whether the supply is tight or ample, freight brokers have a pivotal role. Companies are always looking to maintain supply chain stability and efficiency, and the stakes have increased in the last couple of years. The continued emphasis on supply chain efficiency will keep the demand for freight brokerage services high. No matter how the market evolves, freight brokers are available and needed to make the most efficient pairings of shippers and carriers.
2. New Technological Solutions Will Shake Up Operations
Digital innovations will likely drive growth and transform processes for freight brokers in 2023. AI solutions are emerging that will lower manual labor costs and streamline business processes for the freight brokers who get on board with the new technology. Freight brokers who can adopt solutions with agility and effectiveness will likely see significant gains in business as their work becomes more efficient and accurate. Digital transformation will allow freight brokers to devote less time to repetitive administrative tasks and more time cultivating critical shipper and carrier relationships.
3. Visibility Will Increase
Technological tools will also allow freight brokers more visibility into supply chain processes, which they can, in turn, pass on to clients. Digitalization of data will increase the transparency between carriers, shippers, and freight brokers who form the connection. It will become easier and more common to track shipments in real-time, provide updates on delivery statuses, and report on the condition of goods.
4. The Spotlight Will Shine on Cybersecurity
As the freight logistics industry undergoes a digital transformation, security and data risks become more of a concern. While sophisticated attacks are within the realm of possibility, the most pressing issue is the vulnerability that logistics companies may have to simple, broad attacks designed to capture any and all unsecured information. To address this challenge, we can expect to see freight brokerage companies prioritizing continuous security monitoring, additional digital security measures, and company-wide cybersecurity education.
5. Middle Mile Operations Will Expand
The benefits of drayage, or last mile, trucking are well-established. Most importantly, drayage shipping increases efficiencies and lowers costs. Now, companies are looking to increase efficiencies and lower costs by improving middle-mile operations. This may include new partnerships to increase visibility and flexibility. It may also include expansions to meet the needs of more middle-mile shippers. Freight brokers will play a key role in these advancements as the experts who are well-equipped to identify solutions to complex logistics goals.
6. Drive Towards Sustainability
In 2023, we can also expect an increased push for sustainability in the freight brokerage industry. All stakeholders benefit from reducing empty miles, emphasizing fuel economy, and reducing dwell times. Freight brokers will continue to play a pivotal role in fulfilling these demands and creating innovative sustainability solutions. The increase in sustainability will improve everyone’s bottom line and lessen the burden of logistics transportation on the environment.
Freight Broker News with First Star Logistics
It looks like 2023 will likely be another year of great innovation and change in the freight brokerage industry. At First Star Logistics, we are here for any twist and turn in the road. With over 60 years as a leading global logistics provider, we continue our legacy of driving industry growth. We also understand the importance of staying up to date with industry news and enjoy sharing our insights with our community. We publish updates and information through our blog, podcasts, videos, videocast, Facebook, Instagram, and LinkedIn.
If you are looking to take your career to the next level with a future-thinking company, consider joining our team as a freight broker. We are looking to expand our brokerage department by hiring enthusiastic individuals wanting a fast-paced career in the logistics industry. We empower you to succeed by allowing you to create your goals, networks, and make your own money. As a partner, you’ll work with our dedicated management team, whose main goal is to offer complete back-end support across multiple departments, allowing you to focus on one thing- growing your business. To apply, submit an application today!
