Buzzwords for 2024 Shipper of choice As the balance of truckload supply vs. demand tilts back towards net scarcity, relative capacity will tighten, causing spot rates to steadily rise. For procurement and operations teams that have continuously invested in carrier-friendly policies in prior years, this is the juncture where they’ll begin reaping the benefits—in the form of higher acceptance rates for primary contract tenders, improved overall service levels, and less time spent on spot market sourcing. For those that did not make such investments, the pressure will mount to quickly adapt. They’ll find themselves in the challenging position of convincing their carrier partners they’ve strived to be a shipper of choice all along. –Chris Pickett, COO, Flock Freight OTIFIQ While on-time, in-full once encapsulated industry goals, it now stands incomplete without the emphasis on product quality. On-time, in-full, in-quality (OTIFIQ) adds this vital element. Customers today are acutely attuned to the products they select and the value associated with their spending because of persistent inflationary pressures. While paying a premium for regular items, consumers are increasingly placing a higher emphasis on quality. In this context, the meticulous handling of products, particularly those sensitive to temperature and humidity variations, has emerged as a critical factor.
Praig Sif s 1. On o v 2. E s t s 3. F d r i 4. S i s c d 5. c ¡I£
2
E phsi o dta ha in
1
O nihane oerrie
Enterprise-to-enterprise collaboration is needed to meet ESG goals. With mounting concerns over environmental, social, and governance (ESG) matters, manufacturers stand at a pivotal juncture. Enterprise-to-enterprise collaboration can streamline data acquisition and foster a unified approach to addressing environmental concerns. This collaborative methodology becomes even more impactful when linked to Scope 1, 2, and 3 emissions, delineating the carbon contributions of each link within supply chains. Picture a scenario in which each supply chain participant openly divulges their Scope 1 and 2 emissions, potentially negating the exhaustive monitoring of Scope 3 emissions, which upcoming regulations require. –Valentina Anzola, Sustainability Solutions Program Lead, o9 Solutions Fcu o dmad rspnsvees As we continue to emerge from the pandemic, consumer behaviors will keep evolving in ways that impact the supply chain. For example, Walmart announced they are seeing food sales dip due to more consumers using medications like Ozempic. Prescriptions of
The focus is no longer solely on brick-and-mortar or ecommerce operations. Instead, retailers are looking at omnichannel approaches that inherently make their businesses more flexible and agile. 2024 is the year for omnichannel. More brands will invest in retail automation, but the emphasis will be on performance and flexibility across their brick-and-mortar and online operations. –Jake Heldenberg, Head of Solution Design, Vanderlande The surge of social commerce is reshaping traditional market dynamics, demanding a direct-to- consumer approach. To meet the demands of younger generations, connecting social media influencers to the supply chain is an important way to scale social selling. Additionally, the resurrection of brick-and-mortar stores underscores the need for adaptable supply chains to support diversified sales strategies. Omnichannel visibility is a necessity for smarter business practices. Failing to adopt omnichannel distribution risks disappointing customers; technology-driven supply chain management is imperative for retailers. –Padhu Raman, Co-founder and CEO, Osa Commerce
–Sanjay Sharma, CEO, Roambee
AIoT Artificial Intelligence of Things (AIoT) is the convergence of artificial intelligence and the Internet of Things (IoT), allowing machines to seamlessly communicate, analyze data, and make intelligent decisions—optimizing every step of the supply chain. AIoT is revolutionizing logistics by adding AI capabilities to interconnected devices. This fusion empowers logistics systems to gather real-time data, identify patterns,
3
continues on page 119
118 Inbound Logistics • January 2024
Powered by FlippingBook