June 2024
Supply Chain News to Know

JUNE 2024

News To Know

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In the past few years, we’ve learned that AI can do a lot of things people never expected — but perhaps the better question to ask now is, “What can’t it do?”… Let’s dive in.

The Lead: Slow Going Green

According to a Harris Poll, nearly 75% of executives want to advance sustainability efforts but don’t know how.

While he empathizes with the difficulty of tackling emissions — especially when it comes to reducing Scope 3 — FourKites founder and CEO Matt Elenjickal sees many opportunities. “To seize them, we need to temper our competitive impulses and act collectively. And with real urgency.”

Urgency is critical here. Recent Harvard Business Review research suggests not only that consumers’ sustainability demands are rising, but also that “we’re fast approaching this tipping point where sustainability will be considered a baseline requirement for purchase, and companies should prepare now.”

In View

Speaking of reducing emissions, FourKites’ Mike DeAngelis writes for Supply & Demand Chain Executive that many of the most promising sustainability strategies in international logistics focus on two efforts: improving data and optimizing how goods are handled once they’re taken off an ocean vessel.

Increasingly, companies are leveraging real-time visibility and AI to gain insights that can influence decisions along the full supply-chain journey. "Everything is about expectations," Johnny Ivanyi, the global head of logistics for Bayer Crop Science, told Business Insider. "Even if we don't deliver on time, your customer can say, 'At least I got the information to make my decision.'"

Demand and rates for airfreight transportation continue to soar through the normally soft summer season, while container rates are jumping far above seasonal norms. FreightWaves examines whether shippers are front-loading fall bookings or if the increase in demand is a harbinger of a shipping bonanza.

Numbers to Know

"This index data confirms what we are seeing from our data and hearing from shippers," said Paul Brashier, vice president of global supply chain for ITS Logistics. A lack of containers and limited vessel capacity overseas has forced shippers to move to the spot market to find equipment to load out at origin. "That is significantly driving rates to levels not seen since the post-Covid crisis two years ago," he said.

Read the full story at CNBC.com

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Words of Wisdom

We can share data to generate insights, identify shocks before they happen and, most importantly, manage exceptions across our supply chain. As a result, we have streamlined operations, reduced costs and improved the customer experience.

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DAVIDE BUSATO
LOGISTIC COMPETENCE CENTER INNOVATION PROJECT MANAGER AT BARILLA

ICYMI

Receiving constant feedback is a key ingredient for successful, ongoing innovation, and it’s a practice that FourKites takes seriously. Built In took a look behind FourKites’ design curtain to see how top Product teams are building intentional feedback into their design frameworks.
FourKites joined the Scheduling Standards Consortium (SSC), a group of supply chain firms — including Coyote Logistics, DHL, J.B. Hunt Transport, Oracle, Ryder, Uber Freight and others — that is forging solutions to challenges in freight scheduling.
Manual processes can leave blind spots in your yard, resulting in thousands of dollars in lost inventory each year. In this blog post, learn how FourKites' automated product protection saved over 17,000 trailers from spoilage.