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In Q1 2024, the warehousing and chemical and advanced materials industry grappled with ongoing economic instability, geopolitical conflicts, and extreme climate conditions that affected power, supply chains, and logistics globally.
The fourth quarter has been marked by a convergence of global events, technological advancements, and strategic shifts that have reshaped the landscape of the warehousing industry.
Closing out the third quarter of 2023, there are several factors on the minds of the supply-chain community: Inflation, safety and compliance, threats of a recession, new technology adoption, and more. While some–if not all of these—are affecting the transportation and logistics industry, they could also possibly trickle down to public warehousing.
As noted in the previous quarterly report, the public warehousing landscape is experiencing similar challenges and trends aligned with the supply chain and logistics industries. Given current freight rates, labor retention, and evolving technologies, the industry is on a similar trajectory.
As a critical component of the logistics and supply chain management landscape, public warehousing provides companies safe storage of goods, as well as combustible chemicals and hazardous materials.