NAICS Code 488510-05 - Freight-ConsolidatingMarketing Level - NAICS 8-Digit
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NAICS Code 488510-05 Description (8-Digit)
Hierarchy Navigation for NAICS Code 488510-05
Parent Code (less specific)
Tools commonly used in the Freight-Consolidating industry for day-to-day tasks and operations.
- Transportation Management Systems (TMS)
- Warehouse Management Systems (WMS)
- Freight Management Software
- Load Planning Software
- Route Optimization Software
- Electronic Data Interchange (EDI) Systems
- Global Positioning System (GPS) Tracking
- Freight Broker Software
- Carrier Selection Tools
- Freight Audit and Payment Software
Industry Examples of Freight-Consolidating
Common products and services typical of NAICS Code 488510-05, illustrating the main business activities and contributions to the market.
- International Freight Consolidation
- Less-than-Truckload (LTL) Consolidation
- Air Cargo Consolidation
- Ocean Freight Consolidation
- Rail Freight Consolidation
- Intermodal Freight Consolidation
- Temperature-Controlled Freight Consolidation
- Hazardous Materials Freight Consolidation
- Oversized Freight Consolidation
- Retail Consolidation Centers
Certifications, Compliance and Licenses for NAICS Code 488510-05 - Freight-Consolidating
The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.
- Hazardous Materials Endorsement (HME): This endorsement is required for drivers who transport hazardous materials. It is issued by the Transportation Security Administration (TSA) and requires a background check and fingerprinting.
- Federal Motor Carrier Safety Administration (FMCSA) Operating Authority: This is required for companies that operate commercial vehicles in interstate commerce. It is issued by the FMCSA and ensures that the company is compliant with safety regulations.
- Unified Carrier Registration (UCR): This is required for companies that operate commercial vehicles in interstate commerce. It is issued by the UCR Board and ensures that the company is compliant with safety regulations.
- International Air Transport Association (IATA) Dangerous Goods Regulations (DGR): This certification is required for companies that transport dangerous goods by air. It is issued by the IATA and ensures that the company is compliant with safety regulations.
- Transportation Security Administration (TSA) Security Plan: This is required for companies that transport cargo by air. It is issued by the TSA and ensures that the company has a security plan in place to prevent unauthorized access to cargo.
A concise historical narrative of NAICS Code 488510-05 covering global milestones and recent developments within the United States.
- Freight-Consolidating has been an essential part of the logistics industry worldwide for many years. The industry has its roots in the early 20th century when the first freight consolidators emerged in Europe. These consolidators would combine small shipments from multiple shippers into a single, larger shipment, which would then be transported to its destination. This process allowed shippers to save money on transportation costs and helped carriers to optimize their capacity utilization. In the United States, the industry started to gain traction in the 1950s and 1960s, when the growth of air and truck transportation made it possible to move goods more efficiently across the country. Since then, the industry has continued to evolve, with the introduction of new technologies, such as online freight marketplaces and transportation management systems, which have made it easier for shippers and carriers to connect and collaborate.
Future Outlook for Freight-Consolidating
The anticipated future trajectory of the NAICS 488510-05 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.
Growth Prediction: StableThe Freight-Consolidating industry in the USA is expected to grow in the coming years due to the increasing demand for efficient and cost-effective transportation of goods. The industry is likely to benefit from the growth of e-commerce and the need for faster and more reliable delivery of goods. The industry is also expected to benefit from the increasing adoption of technology, such as automation and artificial intelligence, which can help to improve efficiency and reduce costs. However, the industry may face challenges such as increasing competition and regulatory changes, which could impact profitability and growth prospects.
Industry Innovations for NAICS Code 488510-05
Recent groundbreaking advancements and milestones in the Freight-Consolidating industry, reflecting notable innovations that have reshaped its landscape.
- Digital Freight Matching: This technology connects shippers and carriers in real-time, improving efficiency and reducing costs.
- Blockchain: This technology can help to improve transparency and security in the supply chain, reducing the risk of fraud and errors.
- Autonomous Vehicles: The development of autonomous trucks and drones could help to reduce labor costs and improve efficiency.
- Predictive Analytics: This technology can help to optimize routes and improve delivery times, reducing costs and improving customer satisfaction.
- Last-Mile Delivery Solutions: Companies are developing new solutions for the final leg of delivery, such as drones and delivery robots, to improve efficiency and reduce costs.
NAICS Code 488510-05 - Freight-Consolidating
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