Note: Today’s post is part of our “Editor’s Choice” series where we highlight recent posts published by our sponsors that provide supply chain insights and advice. This week, we look at BluJay Solutions’ Freight Market Index.
As we all find ourselves in uncharted territory with the COVID-19 pandemic, data is as critical as ever to making smart decisions. Even more important is data in context. Our April 2020 Freight Market Index report will show America’s earliest transportation market data points reflecting the impact of COVID-19, across the industry’s most robust range of rate, performance, and service KPIs.
The time period for this report will likely be remembered as the last “normal” quarter for a while. The impact of COVID-19 was not felt until March and initially, the result was a surge in freight volumes as consumers stocked up in preparation for quarantine. Prior to that, Q1 was shaping up to be a rather ordinary period. Rates and tender rejection rates rose slightly quarter over quarter and while not back to early 2019 levels, the metrics seemed to indicate that the shipper-carrier pendulum was moving back towards equilibrium after a 12- to 18-month period favoring shippers. The consensus opinion was that after two very tumultuous years, 2020 would be rather unremarkable with freight volumes and carrier capacity relatively well aligned.
The following performance KPIs are being measured across all BluJay shippers. All solid lines represent average shipper performance across the BluJay Network of $18B+ in domestic freight spend. The light blue area around these lines represents the spread of scores between the 25th and 75th percentile of shippers. To be considered for any given statistic, a shipper must meet minimum volume thresholds. Additionally, any results outside of the upper and lower fences among a given metric are thrown out.
Each chart shows the average of the metric in addition to the spread between the 75th and 25th percentile in light blue.
Click here to read more and access the Freight Market Index.