Echo Global Logistics CEO: Freight Market Stabilization on the Horizon
Doug Waggoner, CEO of Echo Global Logistics, believes the freight market has bottomed out and could stabilize by the end of the year. Echo Global Logistics, founded in 2005, provides technology-enabled supply chain management services. Waggoner, CEO since 2006, highlighted the declining number of trucks and carriers as a positive indicator of market stabilization during FreightWaves’ virtual 3PL Summit.
Waggoner anticipates an uptick in rates by the fourth quarter, provided no major disruptions occur. With over 40 years in the commercial transportation industry, Waggoner has seen Echo grow from 70 employees to over 2,000, with a network of 40,000 carriers. Echo, a tech-focused brokerage company, leverages technology to enhance the transportation space.
The growth of manufacturing in Mexico presents new opportunities. Echo is expanding operations in Mexico as firms shift manufacturing from the Pacific Rim. Severe weather remains a vulnerability for the industry, as past events have shown.
At TLC, we understand these dynamics and offer innovative solutions to help you navigate the evolving freight landscape. Call us today to learn more about how we can support your logistics needs.
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