Cindy Lee, CEO for Lync Logistics, said the last three years have been absolutely brutal for her industry.
The head of a freight brokerage in Chattanooga, Lee said the pandemic led to a surge in trucks in the marketplace, which led to a drastic reduction in rates. Now, as small and mid-sized trucking businesses have gone out of business, scarce supply has caused prices to increase.
“I always laugh and say we’re ‘Bumble,'” Lee said, explaining how freight brokerage works. Bumble is a dating app. Companies like Lync Logistics act as a go-between for businesses shipping goods and the carriers who deliver goods.
Logistics is a core industry for Chattanooga, and as companies navigate more immediate headwinds and tailwinds, they’re also trying to keep their eyes fixed on the horizon — anticipating shifts that could fundamentally change how the sector functions.
Tidalwave, another company in the local logistics space, is a Chattanooga startup that was recently named one of the fastest growing companies in the United States by Inc. Magazine. It’s a screenprinting and e-commerce fulfillment company that runs a warehouse for growing brands that sell goods online.