The trucking industry is expected to face a series of economic and freight challenges in 2023, making it difficult for carriers to succeed. To stay afloat in the current market, trucking carriers must leverage their business agility – or their ability to swiftly adapt and respond to changes – in order to survive and thrive. Here are six ways carriers can be agile in 2023:

1. Invest In Technology: Trucking companies must prioritize investing in modern technology that will help them track, analyze, and optimize operations- such as GPS tracking systems or automated dispatch software. For example, Schneider National has invested tens of millions of dollars into its technology stack over the last few years – creating an integrated platform that enables customers to order shipments while providing automated load tracking and reporting capabilities.

2. Prioritize Efficiency: Organizations must prioritize efficiency to ensure production is running at maximum capacity while costs are kept to a minimum. Amazon, for example, has made strides in this regard by leveraging data-driven insights and using predictive algorithms to evaluate driver performance and optimize routes – resulting in less fuel consumption, fewer miles traveled, and lower emissions.

3. Take Advantage of Specialized Options: Carriers can increase their profitability by taking advantage of specialized services such as temperature-controlled transport or expedited shipping. For instance, Roehl Transport recently launched its refrigerated service offering which allows customers to ship perishable items like food, beverages, or pharmaceuticals safely and quickly.

4. Leverage Data: Trucking companies should leverage data to inform their decisions, strategies, and operations. For example, J.B. Hunt uses predictive analytics to forecast demand for its services and adjust pricing accordingly – resulting in increased profits and better customer service.

5. Capitalize on Automation: Utilizing automation wherever possible can help carriers reduce costs and increase efficiency. For instance, XPO Logistics has implemented robotic process automation (RPA) technology, which automates many manual processes such as driver onboarding and document management – freeing up human resources to focus on more value-added activities.

6. Grow Through M&A: In the last few years, there have been a number of growing mergers and acquisitions in trucking, including Schneider’s acquisition of XPO Logistics’ North American truckload business. This move has enabled Schneider to add more than 30,000 pieces of equipment to its fleet and gain access to new markets. Other notable M&A deals in the past few years include Landstar System’s purchase of Big Freight Systems and Swift Transportation’s merger with Knight-Swift Transportation Holdings, and then later the purchase of U.S. Xpress Enterprises (March 2023) by Knight-Swift Transportation.

In conclusion, these six strategies – increased efficiency, specialized services, leveraging data, automation, and M&A – can help trucking carriers be successful in 2023 despite the recession and freight challenges. By implementing these tactics, carriers will be better positioned to maintain profitability while providing their customers with the best service possible.