JD Redmon’s Post

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Board Member | Advisor | Afro-Min Investor

Friends and colleagues, I believe we must take a keen analytical eye to the state of Trucking Transportation in our current economy. It's fascinating, when you break it down philosophically, to study how societies have evolved trade methods since primitive times. - From primitive bartering to digitized trade - From mules and carts, all the way to 18-wheelers and planes - It's the art of transfer that creates the marvel of economics Despite the invention of air and rail freights, the trucking industry still stands as the backbone of US commerce. 🚚 The importance of trucking cannot be underscored in an economy such as ours where getting goods across vast landscapes is both a necessity and a challenge. Numbers tell a story: - Trucks moved 72.5% of all freight transported in the US in 2019 and generated $791.7 billion in gross freight revenues. - There are 15.5 million trucks operating in the U.S., with 2 million tractor-trailers. - The American trucking industry employs over 7 million people. Success in trucking doesn't just come down to the number of trucks on the highway. It's about the efficiency of their routes, minimizing downtime, maximizing capacity, and finding the right balance - a metaphorically beautiful balancing act. We dive into the use of data analysis and technology: - Trucking companies are using predictive analytics to optimize route and fuel efficiency. - The introduction of autonomous technology may revolutionize the industry, negating driver shortages and mitigating human error. - Digitized freight brokerage reduces time spent on mundane tasks, increasing the efficiency of the whole process. Challenges persist: - There's a steep cost to maintain, fuel, and operate these trucks. - The toll it takes on the environment is considerable. But as with any challenges, they invite innovation. The key to future-proofing the industry lies in efficient trucks - electric engines, autonomous vehicles - coupled with digital supply chain management systems and optimized freight brokerage. As we shift our gears to a technologically-infused commerce model, trucking transportation must also evolve to keep pace. Let's keep on trucking and remember - the journey becomes worthwhile through the value and efficiency added during each milestone along the way. 🛣️ #trucking #transportation #analysis #innovation #data #efficiency

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