Spot, a leading North American logistics company, has been named to the 2024 Transport Topics Top 100 Logistics Companies List. The company secured the top ranking among Indiana-based freight brokers and achieved a national ranking of 33rd. The annual list ranks companies based on gross revenue from the preceding year.
“Being named a Transport Topics Top 100 company, especially during a period of market headwinds, is a true testament to the dedication and innovation of the entire Spot team,” said Andrew Elsener, Co-founder of Spot. “We’re incredibly proud to be recognized as a leader in North American logistics, and we’re committed to continuously exceeding expectations for our clients despite challenging market conditions.”
This achievement comes amidst a challenging market environment for the third-party logistics (3PL) industry. According to the Transportation Intermediaries Association’s latest 3PL market report, the fourth quarter of 2023 saw a 4.7% decline in shipments, a 4.3% decrease in invoice amount per shipment, and an 8.8% drop in total revenue compared to the third quarter. Despite these industry challenges, Spot’s performance demonstrates its commitment to excellence and ability to navigate complex market conditions.
Since 1935, Transport Topics has been the news leader in trucking and freight transportation. When it comes to major issues, industry events, and new developments, TT journalists get the story first and get it right, keeping readers informed about all aspects of the trucking industry and helping them stay ready for what’s to come. To learn who made the list and read more about the issues facing logistics companies, visit Transport Topics at https://www.ttnews.com/logistics/freightbrokerage/2024
“Soft freight market conditions have been placing financial strain on third-party logistics providers for the past couple of years with an oversupply of truck capacity driving down rates and squeezing brokers’ margins,” said Seth Clevenger, managing editor of features and multimedia at Transport Topics. “Despite this challenging business environment, the industry’s top 3PLs have continued to drive improvements in supply chain efficiency for their shipper customers.”
Spot was founded in 2009 by Elsener and Andy Schenck. It recently celebrated its 15th anniversary by unveiling its redesigned innovative website and ground-breaking technology platform, MySpot. You can learn more at www.spotinc.com or hear from industry experts on the Company’s podcast, More Than A Broker, available on Spotify, Apple Podcasts, and other major platforms.