Last week, the Strategic Partners team with our CEO Matt Pyatt; David Spencer, director of business intelligence; and JP Hampstead director of Passport Research at FreightWaves hosted a webinar to more than 450 attendees, discussing the metrics that matter to understand the market and answering Q&A from attendees.
The discussion ranged from navigating current market conditions to lane rates to strategies around RFP’s. Below are highlights from the Q&A portion of the webinar with links to the recording. Additionally, if you are interested in receiving monthly market updates from Arrive Logistics, check out the May update and fill out this form to receive future reports.
How do we compare what is happening now to the Great Recession of 2008-2009? Should we be modeling what we did back then to navigate today?
The situations are vastly different. The economic ramifications of the situation now have been caused by outside factors and will take time to recover. The impact and subsequent recovery (both in 2008-09 and now) is going to depend on which industry you operate in. To watch Dave Reiss’ full answer click here.
With the goal for the supply chain to be viewed as a strategic part of the business (versus a cost center), how should I educate leadership on industry changes?
Communication is everything. Understanding the organization’s current priorities and strategy is critical so your decisions are not at odds with it. Transportation planning waterfalls down from the top company goals. You cannot operate in a vacuum, listening and seeking clarity helps you see the bigger picture. To watch Eric Lien’s full answer click here.
What are you hearing from companies regarding near-term sourcing solutions?
The best place to start in a situation like this is with a plan and working closely with your partners. Conditions change often, and you will need to look to your strategic partners to help adjust plans and strategies to conditions. To watch Aaron Galer’s full answer click here.
Asset vs. broker – how can they both play a critical part in a shipper’s logistics and supply chain strategy? Does this strategy apply to food and beverage specifically?
Asset-based transportation partners and brokers both offer their own advantages. When used together, they can offer a balance that can provide flexibility during volatile and uncertain times. To watch Darlene Wolf and Aaron Galer’s full answers click here.
Is now a good time to conduct an RFP? What procurement strategies make the most sense in this market?
RFP timing depends on a shipper’s procurement strategy. Some organizations may conduct annual or off-cycle RFPs while others don’t conduct any at all. This often is a reflection of the organization’s size, strategy, and the amount of potential partners they feel are necessary to make up their transportation mix. To watch Dave Reiss and Eric Lien’s full answers click here.
How does the transition to working remote affect the logistics industry? Do you anticipate these changes persisting after the pandemic secedes?
Every organization is making massive pivots in how and where they work. The learnings from this period of disruption will absolutely inform the strategy after the pandemic subsides. The businesses that have leveraged technology are seeing the benefits of working remotely most effectively. A silver lining of any major disruption is being forced to innovate and identify new opportunities across the board. To watch Darlene Wolf’s full answer click here.
What are some technologies and strategies that we should be implementing at a time when driving productivity is so important and every dollar matters?
There are many including: TMS systems, API interfaces, on-demand pricing, auto-tracking, data science teams and centralized logistics centers. To watch Dave Reiss’s full answer click here.