This hearth chat summary is from FreightWaves' 3PL Summit held on Wednesday.
Fireside chat topics: How to use data to create a competitive advantage in logistics
detail: John Stauffer explains that since freight automation began in 2007, improvements in digital capabilities have made it possible to access more data. Businesses have learned how to leverage large amounts of data to increase efficiency.
“I think leveraging data and understanding our strengths and weaknesses as an organization can really empower our account management and customer-facing roles.”
“From a carrier perspective, it also means [about] Leverage data to understand carriers' fundamental strengths and weaknesses and market those strengths to sellers. And to strengthen that partnership, we basically act as a sales force on behalf of carriers within our organization. ”
“The challenge posed by data deployment is that once the data is understood and the data is cleaned and well understood across the organization, the incentives within the organization are aligned with adopting a data-driven approach to operations. Many brokers have commission plans that take only margin into account. If they did, they would encourage behavior that focuses only on maximum profitability and not on service. It's important to ensure that the incentive structure you have in place aligns with the overall data strategy you're trying to take.”
“I think there will be rapid innovation. The amount of data available across industries right now is huge. [automated] Tools that can figure that out much faster than humans can be very powerful. ”