By Mark Solomon of FreightWaves
The 33rd annual State of Logistics Report, the year-over-year report card of the U.S. business logistics system, confirmed empirically what everyone already knew: 2021 was nirvana or a nightmare depending on what one does for a living.
Total logistics costs, which measure how much was spent on transportation, warehousing and ancillary services such as support and administrative, soared 22.4% last year to nearly $1.85 trillion, according to the report. That was equal to 8% of the U.S. GDP, a level not seen since 2008, said the report, which was released by the trade group Council of Supply Management Professionals (CSCMP) Tuesday morning.
Demand spiked across every mode and service. Businesses desperate for reliable motor carrier capacity powered a 39.3% jump in spending on private fleets or dedicated contract carriage to $415.2 billion. Inventory