After a year of defensive over-stocking, many companies seem to have reversed the trend: inventories are rapidly decreasing and warehouse occupancy is declining sharply. This is one of the key takeaways from the latest figures of the Logistics Managers’ Index (LMI), a barometer that tracks several indicators of the supply chain and measures its dynamics (acceleration or contraction) rather than the absolute level.
The signal being highlighted is spectacular: the inventory level indicator records a very low value, interpreted as a phase of accelerated destocking. At the same time, warehouse utilization would also hit a historic low, suggesting a concerted effort to free up capacity, limit immobilizations, and reduce the risk of overstocking at the start of 2026.
This shift occurs in an environment where trade uncertainty remains high. Companies, after “pulling” goods to protect themselves from potential tariff increases, now seem to be prioritizing more cautious restocking. For land transport, the analysis is twofold: in the short term, less stock can mean more irregular volumes; but if companies return to a just-in-time logic, the supply chain could become more sensitive to disruptions – and therefore generate more reactive transport needs when demand picks up. In clear terms: less buffer stock, more pressure on speed and reliability.
