There is absolutely no doubt that the COVID-19 pandemic has changed the landscape of our economy, especially the logistics industry. Before the pandemic began, our logistics network in the United States was strong and growing at a fast rate. Trucking, especially LTL, has been robust while truckload began to slow down.
Over the course of the last several years, China has experienced structural challenges that have impacted its ability to compete in global markets. Between rising labor costs, expensive raw materials, and pricey industrial real estate, China’s manufacturing base has found itself in competitive struggles with countries that include Malaysia, Vietnam, and Mexico. With so much strain on Chinese supply chains, many companies are looking to Mexico as an option for both the purchase and sale of goods. Bolstered by a newly signed US-Mexico-Canada Agreement, US-based companies are finding that there are many advantages to doing business in Mexico, including a strong industrial base, competitive landed costs, shorter lead times, easier travel, and parallel time zones.
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At the beginning of 2020, the economy was at a historic high. Revenues were up everywhere from car sales to telecommunication development. College students planning to graduate and enter the workforce were darlings of the economy. Graduates had their pick of options, with companies tripping over each other to entice the next great minds entering the workforce.
As uncertainty across the world grows along with this pandemic, the one constant, unfortunately, is chaos. Pegasus prides itself on navigating customers’ chaos by remaining calm through their perceived storms. Amidst the COVID-19 upheaval, a consistent presence has been our partners, who have implemented creative and effective tactics to keep our customers safe.
Our prospective clients often bring up the question, “How do you ‘make it right’ if and/or when service failures happen?” Clients usually point out that mitigating risk is even more important than fixing a service failure. Acknowledging an issue is critical, but the way Pegasus proactively manages the business to avoid issues, such as SLA failures, manufacturing down time, lost sales or delayed event materials, is game-changing. We all know our client relationships would be short lived if we didn't meet or exceed expectations, and the costs associated with severed partnerships are far too high for all involved parties.
We can all agree that the idea of working from home sounds tempting at first, but in reality, it can be challenging. Although there are many pros to working from home, one of the biggest challenges for many is not being able to interact face to face with co-workers or customers. Being a company that values our culture above everything else we have tried to find ways to keep our employees engaged and excited to learn in a time of uncertainty. Our learning and development team recently hosted a lunch n’ learn to dig deeper into this topic. In this blog post, we will explore 4 key strategies to best utilize this time at home and reveal useful tips to keep your sanity in tack.