Logistics costs for U.S. businesses rose 3.4% to $1.33 trillion last year compared with 2011, according to a new report by the Council of Supply Chain Management Professionals.
Truck transportation costs rose 2.9%, but looming capacity pressures are expected to push rates up quickly, according to the report released Wednesday, which was sponsored by Penske Logistics.
“The trucking industry is maintaining a balance between supply and demand, a balance that will likely be disturbed when the U.S. Department of Transportation’s new . . . hours-of-service regulations go into effect July 1,” the report said.
The impact of HOS regulations will be to reduce existing drivers’ productivity, leading to a capacity contraction, the report said.