Technology has been a key factor in the growth and strength of the supply chain, with many companies adopting digital solutions to manage their freight more efficiently and effectively. Recent innovations like artificial intelligence (AI) have emerged to improve shipping operations and help Shippers, 3PLs and freight brokers build on their existing technology.
Over the past few years, the supply chain has undergone a rapid transformation. The traditional linear model is giving way to a complex, dynamic ecosystem that requires Shippers and 3PLs to adapt and develop strategic alliances to help differentiate themselves from the competition.
To ensure growth now and in the future, it is crucial for these stakeholders to embrace current and upcoming trends, as well as identify key relationships that will support strategies that align with the evolving supply chain landscape.
As regulations begin to mount for the reduction of carbon emissions in transportation, the logistics industry is facing heightened scrutiny and businesses are seeking solutions within their supply chains.
According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, transportation accounts for 28% of all emissions, with 12% of global emissions attributed to freight and logistics.
“The carbon intensity of [over-the-road] freight is way different than some other types of freight,” said Hayden Pirkle, Account Management Lead at Patch, a platform for negative emissions that integrates with businesses to calculate their carbon footprint and systematically compensates by funding verified carbon removal projects. “It is 100 times more carbon intensive than shipping via cargo ships, which is where the bulk of freight is delivered.”
To address these emissions, government agencies at the state and federal levels have been preparing regulations aimed at the transportation industry, which includes businesses in over-the-road shipping. While many of the rules go into effect in a few years, Shippers and 3PLs need to plan now to get ahead of the changes.
Technology remains vital for the advancement of supply chain organizations. In a recent Gartner survey, 61% of respondents say technology is a source of competitive advantage with many identifying several emerging technologies as important investment areas.
The survey also found that by 2026, more than 75% of commercial supply chain management application vendors will deliver artificial intelligence (AI) and data science.
As the supply chain evolves, industry officials are seeing a multi-faceted approach to advancing the technology behind shipping operations. Artificial intelligence, generative AI, machine learning, digital twinning and understanding how to make better use of internal data are the future of technology in logistics.
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Marketing plays a crucial role in the logistics industry, offering numerous benefits for businesses operating in this sector. One of the main advantages of marketing is to help build and strengthen relationships with B2B customers. Leveraging digital marketing strategies such as targeted email campaigns or social media advertising allows logistics companies to effectively reach their target audience and showcase their services.
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In today's fast-paced business world, effective marketing strategies are essential for success. When it comes to the logistics industry, marketing plays a crucial role in driving growth and building strong relationships with clients. From B2B digital marketing to building brand reputation, effective marketing strategies can transform your logistics operations and help you grow.
Marketing is not just about selling products or services; it involves understanding customer needs, building relationships, and delivering value throughout the supply chain. In an evolving industry such as shipping logistics, it’s important to stay in touch with your audience and potential consumers of your product by maximizing exposure to your brand.
When supply chain disruptions occur, many logistics professionals scramble to adjust. Some turn to a multitude of technology providers to deliver services they think they need to adapt. However, many are learning what experienced Shippers and 3PLs already know – the best solution is planning ahead with a one-stop shop technology from a seasoned provider.
In episode 11 of Banyan Technology’s Tire Tracks™ podcast, 3PL Freight Partners Group Founder and CEO Tom Burke discusses where the future of logistics technology is headed and how one-stop-shop technology will make a big impact.
With 90% of the 26-foot box trucks registered in the U.S. independently owned and operated, it is often difficult for Shippers and 3PLs to find carriers that can compete with companies like Amazon or Walmart that offer cost-effective, sometimes even free, 2-day or 24-hour final mile delivery.
However, with the help of advances in technology, one provider is looking to improve final-mile efficiency by embracing the industry’s evolution to same-day delivery in the B2B space.
In episode 10 of Banyan Technology’s Tire Tracks podcast, Aaron Peck, Founder and CEO of Mothership, discusses how his company is using technology to standardize same-day delivery services.
“If you look at the supply chain today, you've noticed that a lot of things have sped up considerably. And I think we owe some gratitude to Amazon for forcing people who want to compete in this world to understand that overnight’s the thing now,” he said. “And not only is going to be 10 times faster, but it's also free.”
Data visibility and transparency are a hot topic in the transportation industry these days and for good reason. From rating and booking, to dispatching, tracking, and invoicing, there are thousands of data points in the lifecycle of a shipment. While most Shippers and 3PLs know the data is out there and want to use it, many lack the resources or knowledge to put it to good use.
That’s why having a Transportation Management System (TMS) with seamless connections to your carriers, load boards, and other solutions in your tech stack is critical. A TMS creates a single source of truth for your shipping operations and enables you to harness the power of your shipment and carrier data.
So, while that all sounds great, some might wonder, what can you do with all that data?
To answer that question, here are 4 simple ways real-life Shippers and 3PLs are using data in their operations.
If the first five months of 2023 showed the freight industry anything, it was that freight technology companies without a strong foothold in their niche will be facing some tough decisions for the second half of 2023. Some industry tech companies have turned to a reduction of their workforce, while others have sunset their tech solutions altogether. According to FreightWaves, falling truckload costs and decreased demand for goods are some of the reasons behind these companies having to make some tough decisions as 2023 turns the corner towards the end of the year.
