Transportation sector drives ahead

 

Swonk and Smith steer through a vital industry’s issues

 

The transportation industry suffered a number of setbacks under COVID-19, including a lack of drivers, and container and trailer shortages from a limited supply chain. An immediate hiccup comes in the form of a slowing thirst for goods, as newly vaccinated consumers amp up a search for services.

Said Grant Thornton’s Chief Economist Diane Swonk, “What we’ve really seen in the pandemic and as we come out of it….is that the transportation sector has been hit in many ways, in the demand for transportation and trucking and in terms of the bottlenecks in supply chains.”

Randolph Smith, Grant Thornton’s Transportation Industry leader, concurred and added, “Driver shortages have been an issue for decades, and this has been exacerbated by the pandemic.” Companies have increased driver compensation and recruited younger employees who have served in the military, he said, with mixed results.

Listen to what else they talked through.

 

 

COVID’s impact on the transportation sector

Recruiting drivers, pinched supply chains

 

Changing dynamics, 'last mile' distribution

Work from home challenges

 

Contacts:

 
 
Randolph Smith

Randolph Smith is a partner in Grant Thornton’s Tax Services practice and is the national leader of the Transportation practice. He has more than 29 years of experience in public accounting.

Charlotte, North Carolina

Industries
  • Real estate and construction
  • Manufacturing
  • Transportation, logistics, warehousing and distribution
Service Experience
  • Strategic federal tax
  • Tax reporting and advisory
  • Tax
  • Private wealth services
 
 

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