Predicting the Future of the Logistics Industry

Predicting the Future

Introduction

From warehouse robots to delivery drones, the supply chain is experiencing a tremendous upheaval. AI promises a totally autonomous and self-organized future supply chain. A fleet of vehicles utilizing a swarm algorithm can enhance cargo yard throughput; a trusted peer-to-peer ledger on blockchain architecture could change compliance in the sector; and wearables, mobile robotics, and machine learning technologies could speed up order fulfilment. IOT e-brokerage solutions can link shops to couriers and transporters with a click. Tomorrow's supply chain will be leaner, quicker, and self-organized. A few innovative technologies will fuel this unparalleled rate of change over the next 15 years. Here are the major technologies that are shaping the future of the logistics industry.


Logistics Technologies for the Future


Shipment Tracking Systems

Previously, customers ordered shipments, had an anticipated arrival date, and then were kept in the dark until they chose to call. Customers can now access shipping and tracking systems around-the-clock due to developments in the internet and software. This not only enhances the customer experience (cx), but it also saves the business time and money.


Internet of Things (IoT)

The IoT reduces costs and delays by minimizing hazards in the supply chain. Cabs, cargo ships, trains, etc., have sensors that link to an alarm system or dispatcher. These sensors analyze and communicate information to the crew, who learns about hidden threats. IoT isn't a new technology, but it continues to influence logistics by improving in-transit visibility and delivery.


Radio Frequency Identification (RFID)

RFID technology has been used for a few years to monitor inventories labor-efficiently. A product tag or sensor produces radio waves. The company processes the data. RFID tags are similar to barcodes, but their faster information transport and data processing appeal to companies and the direction of technology. Many organizations use RFID tags to track containers in warehouses.


Enhanced GPS Accuracy

Almost everyone utilizes GPS on their vehicles or smartphones. These devices' accuracy has improved over time, assisting lost drivers and enhancing the supply chain. By monitoring truck locations and boosting hauls with current traffic data, GPS increases efficiency and customer satisfaction.


Closing Lines

Unprecedented times have produced unprecedented transformations that will last for generations. Changing demographics, technology improvements, and COVID-19 impacts are altering global supply networks. We must understand the driving factors and act on what we learn to adapt and rise to the situation. For the sake of our current workforce and future generations.

Spotlight

Overseas Shipholding Group

Overseas Shipholding Group, Inc. is a leading provider of energy transportation services delivering crude oil and petroleum products throughout the United States and the world.

OTHER ARTICLES
Software and Technology, Logistics

Importance of Supply Chain Resilience in the Modern World

Article | July 12, 2022

Risk management has been a problem for as long as supply chains have existed. Because of the interdependence of all its connections, even a minor issue in one isolated region has the potential to jeopardize a whole global supply chain. As a result, when major global trends and events occur, the potential for widespread supply chain disruption is enormous. Global supply chain risks and market disruptions have reached an all-time high. The most notable of them is the COVID-19 pandemic. In a 2020 survey, the Institute for Supply Management discovered that 95% of companies faced operational issues due to the pandemic. As a result, business executives all around the globe believe that if they want to be more resilient and competitive in the present market, they need to modernize and make significant changes to their supply chain strategy. Other recent factors that have had a significant impact on traditional supply chain practices include the fast pace of change in consumer behaviors and a pretty unstable trade and political environment. In the last ten years, e-commerce spending has tripled, and internet shopping had increased by 149% in 2020 compared to the previous year. With the growth of e-commerce, there has been a rise in customer demand for faster delivery and more personalized shopping experiences. The Amazon Effect refers to the growing expectation for same-day delivery and its effect on businesses and logistical networks. To be resilient enough to react to these rising demands, supply chain managers have had to make fast and significant modifications to their logistics and warehousing networks, as well as discover new ways to collaborate with third-party fulfillment partners. Even before the impact of COVID-19, American businesses were attempting to reduce their dependence on foreign manufacturers and suppliers. Foreign tariffs and trade policies had become more unpredictable by 2019, and businesses were seeking technological solutions to make the supply chains more self-sufficient and resilient. As a result, integrating digital transformation and Industry 4.0 technology into supply chain operations is quickly becoming a top concern for global business leaders. How does Supply Chain Resilience Work? A flexible contingency plan and the ability to react swiftly to operational disruptions are important characteristics of effective supply chain management. However, to be truly resilient, a supply chain must be able to predict and anticipate disruptions and, in many cases, avoid them entirely. Strategic supply chain planning is an important step in achieving resilience because it synchronizes all supply chain components and increases visibility and agility. Supply and demand needs are better understood, and production is synchronized due to supply chain planning. This integrated, forward-thinking approach assists businesses in better anticipating problems, reducing the impact of supply chain disruptions, and improving overall operations. When a business has the digital systems to analyze and make sense of Big Data, it significantly improves supply chain resilience. Artificial intelligence-enabled systems can curate disparate data sets from across the business and the globe. To discover trends and opportunities, news, competitor activity, sales reports, and even customer feedback can be examined together. The system's connected devices are constantly monitored, providing real-time insights about where and how processes can be automated and improved. For instance, AI, machine learning, and modern databases acquire and handle Big Data and analyze and learn from it in an almost infinite number of ways. This enables intelligent automation across the network and provides supply chain managers with the real-time insights they require to respond quickly to disruption and unexpected events. Supply chain managers have traditionally sought to limit the number of partners and suppliers in their network to minimize operational and logistical complexity. This approach is based on the stability of the social, environmental, and political systems. Unexpected disruptions in one region can slow or even stop network operations across the board. Supply chain resilience technologies, such as blockchain, sensors, and advanced analytics, enable supply chain managers to monitor complex partnerships and supplier contracts even in the most remote parts of their network. Profitability in the supply chain has always been dependent on minimizing excess and keeping inventories as lean as possible. Capacity and inventory buffers are expensive, and supply chain managers have often bet against disruptions to keep prices low. When the pandemic struck, many businesses discovered the real cost of the gamble. Supply chain operations can involve on-demand manufacturing, virtual inventories, and predictive demand forecasting using digital supply chain technologies to remain resilient, even in times of unexpected disruption. Benefits of a Resilient Supply Chain Finding a successful balance between supply and demand is a significant issue for any supply chain manager in an increasingly competitive market. Many businesses that have cut costs on diversification, supply chain technology, and other resilience measures have lately discovered the true cost of those choices. However, when businesses engage in diversification, supply chain technologies, and other resilience measures, they can achieve a variety of business benefits, including: More efficient operations: Better resilience often results in less risk and a greater capacity to invest in innovation and growth. For example, according to a 2020 global business analysis conducted by Bain and Company, businesses that prioritized their investment in supply chain resilience had up to 60% quicker product development cycles and were able to increase production capacity by up to 25%. Enhanced productivity: Resilient supply chain solutions lead to the overall system increased productivity. According to a McKinsey 2020 survey, supply chain leaders from across the world report increased productivity due to resilient supply chain systems, and 93% of those surveyed plan to prioritize resilient supply chain strategies for investment in the next year. Risk reduction: Supply chain activities are often the most vulnerable to risk and loss in many businesses. Supply chains, by nature, are geographically distributed and functionally complex. As a result, supply chains are particularly vulnerable to risk. Resilient supply chain technologies minimize risk by providing insight into all network operations and enabling companies to improve and adjust their processes and logistics in real-time. Technologies for an Agile Supply Chain Digital transformation and modern supply chain technology provide businesses with the resilience and competitive advantage they need to react swiftly to disruptions and opportunities. Artificial intelligence (AI): AI-powered supply chain systems can offer deep procedural and operational insights by gathering and analyzing data from many sources. Predictive analytics and Big Data analysis can assist in predicting risk and demand and recommending measures and reactions in the company. Machine learning: Machine learning enables the discovery of patterns in supply chain data and the identification of these influential factors - all while constantly learning. This enables supply chain managers to react fast with the finest workflows and operational strategies available. Industrial Internet of Things (IIoT): The IIoT network in a supply chain comprises connected devices and objects with sensors and unique IDs that allow them to transmit and receive digital data. They collect information and communicate with the central system. AI can analyze and understand this data to enable quick decisions and intelligent automation of supply chain operations and procedures. Additive (3D) printing: Smart factories can quickly reprogram 3D printers to produce specific products on-demand without disrupting regular business operations in the long run. The accessibility of potential virtual inventories enables supply chains to defend themselves against disruption. Robots and autonomous things: Robots and drones, which are intelligently automated for speed, efficiency, and accuracy, can adapt their operations on the go to meet quickly changing requirements. They also reduce the risk of harm by eliminating overly repetitive or dangerous tasks from human workers. Modern databases: The resilient supply chain solutions rely on Big Data, advanced analytics, and real-time insights from modern databases. Supply chain technology can be improved to operate faster and most resilient when equipped with a modern ERP system and an in-memory database. Resilience means more than just surviving a disruption in operations. A fully resilient supply chain and businesses survive hardship and use it to innovate and improve their business. Building a resilient supply chain is very important in this modern era because disruptions like a pandemic, wars, climate change, etc., are occurring a lot these days. A resilient supply chain helps businesses to survive and thrive even during tough times. To read more about ways to boost supply chain performance, click here. FAQ What is supply chain resilience? Supply chain resilience refers to the supply chain's capacity to be prepared for unexpected risk events, react and recover swiftly to potential disruptions, and grow by shifting to a new, more desirable state in order to improve customer service, market share, and financial performance. How is supply chain resilience measured? A supply chain's resilience index is calculated by aggregating its company's resilience index. Given that supply chain company's performance influences overall supply chain performance, supply chain resilience should be measured using the companies' resilience index. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is supply chain resilience?", "acceptedAnswer": { "@type": "Answer", "text": "Supply chain resilience refers to the supply chain's capacity to be prepared for unexpected risk events, react and recover swiftly to potential disruptions, and grow by shifting to a new, more desirable state in order to improve customer service, market share, and financial performance." } },{ "@type": "Question", "name": "How is supply chain resilience measured?", "acceptedAnswer": { "@type": "Answer", "text": "A supply chain's resilience index is calculated by aggregating its company's resilience index. Given that supply chain company's performance influences overall supply chain performance, supply chain resilience should be measured using the companies' resilience index." } }] }

Read More
Software and Technology, Logistics

A New Mobility Landscape Is Coming (but not fully yet)

Article | July 16, 2022

A sector which has been heavily disrupted in the last years is the mobility sector. Following decades of "car being king", we have reached a saturation and mentality shift. People want to be more healthy and more ecological (sustainable) and also avoid losing precious time in traffic jams. As a result a whole eco-system of companies has been created to find solutions for this. This article tries to provide an overview of the trends in this market, with a focus on the Belgian market. First of all when looking at mobility and the offers on the market it is important to make a distinction between private and professional displacements. This last category can additionally be split up between the daily commute and professional displacements during working hours. When looking at private mobility (the so-called B2C market), the car remains an important pilar. Especially for families with (young) children it remains difficult to do everything without a car. Obviously, there is a trend to be more sustainable, which is reflected in more sales of hybrid and electric vehicles, more usage of (e)bikes and (e)steps and an increasing usage of shared mobility options (like shared bikes, steps or cars). Statistics from China, which is already the furthest in the post-Covid era, show that most mobility options have lost terrain (compared to pre-Covid), with the exception of the car and bike. The car, although still not very sustainable, is still the most flexible and has the least chance for contamination. Especially the flexibility will become more important as office hours also become more flexible. Additionally due to the increased home working, in some cities traffic jams have considerably reduced, making room again for more people to switch back from public transport to their car. Additionally there is the bike. This is a very flexible, individual, healthy and sustainable mode of transportation that many have discovered during the crisis. Furthermore with ebikes becoming more and more common, bigger distances can be covered without needing to be in excellent physical shape. The professional mobility (i.e. B2B(2C) market) is however even more in evolution, as governments provide all kinds of fiscal incentives to change the mobility habits of employees and employers. Furthermore employers want to offer more flexibility (in working hours, in working location and in mobility options) and less administrative burden to their employees, allow them to profit from those fiscal incentives (resulting in an increased buying power) and become more sustainable. As a result a variety of new offers to be more flexible and optimally profit of those extra-legal advantages has come to the market. This makes it very complex for an employer to find his way in this tangle. Obviously, every company is unique, with multiple axes determining which mobility options are possible and best suited for the company: The location of the company, i.e. Is the company situated in a city with a lot of mobility difficulties (traffic jams)? Is the company situated near public transport options? Is the company situated in a city where a lot of shared mobility options are available? Are the employees typically living close or far away from the company? Which kind of parking facilities does the company have? Does the company have multiple offices geographically spread over the country? The type of work done at the company, i.e. Does the work require physical presence at a specific location (i.e. time- and location-dependent work)? Is remote work possible? Does the work require a lot of displacements to customers (and/or partners, suppliers…) during working hours? The type of employees working at the firm, i.e. Are the employees typically living close or far away from the company? What is the age distribution of the employees within the company (e.g. lot of young people, lot of employees with children…)? How strong is the war for talent for the desired employees, forcing the employer to offer a lot of extra advantages to attract people? The size of the company, i.e. a bigger company has the means to setup more complex mobility plans/options, as they often have dedicated people within HR specialized in these setups. This makes it difficult to define a "one-solution-that-fits-all" approach, but rather a more tailored approach is required, with some degree of customization per customer. Some examples: Promoting commuting by bike via bike leasing and a bike allowance is mainly interesting for companies with employees not living too far away from the company and not requiring doing customer or other professional displacements during working hours. Additionally it depends on the profile of the employees and the safety of the trajectory between the home of the employees and the office. Note that 54% of Belgian employees does not want to use a bike to come to work, with the main reason people finding it too dangerous. At the other hand a similar percentage of employees indicates they would be very interested in options like bike leasing and bike allowances. Shared mobility options are of course only interesting in the bigger cities, where those options are also strongly available. As a result incorporating those options in a mobility plan does not make much sense when the employer is situated in a location where those options are (almost) not available. The same applies for "multi-modal transportation" (and the associated multi-modal route planners), which are also only interesting in the larger cities where multiple mobility options are readily available. Furthermore a company introducing this multi-modal mobility concept should be able to put a whole change management trajectory in place, as it requires discovering new mobility options and changing existing commute habits (for most employees the commute is a routine activity, which they do in "auto-pilot") Setting up a Cafeteria plan or Mobility budget can be quite complex, making the costs and effort, especially for smaller firms, not always outweigh the benefits. New digital solutions can provide a (partial) solution to this, but they typically do not take away the uncertainties for employers to deal with something they do not fully understand. Electric cars are still difficult for people doing large distances on a regular basis, due to their limited action radius and the too low number of charging stations (especially in the South of Belgium). On the other hand for companies where employees come to the office the whole day and that have the required space to setup charging stations, this can be a very interesting option both fiscally and ecologically. Collective organized transport is typically only economically viable for large companies, for which a large number of employees are coming from the same region. Platforms exist to manage this cross-employers, but this raises a number of other concerns and reduces the added-value. Options like "no-mobility" (i.e. home working) and "less-mobility" (flex-offices / co-working places) depend on the work culture and the type of work to be done. For some companies the shift to homeworking during the Covid-confinements was already a serious stretch, which will take years to get fully absorbed. Introducing new concepts like "flex-offices" (co-working places) is probably a bridge too far, especially as there is still a lot of unclarity of who will be paying (and what the fiscal implications are) for the office space (employee paying out of his mobility budget or employer paying) and even more for the added-services like drinks, snacks, catering… … In general employers have a big interest to do something around mobility, but when having to deal with all complexity (fiscal and operational concerns like policies, load administration…), many employers drop out. Employers fear especially all exceptions, as they often represent hidden costs and lot of extra effort. E.g. what happens if an employee leaves the company? What if someone is fired? What about the liability in case of accidents/theft/vandalism? What will be the exact total cost for me as an employer? How do I need to manage VAT? What is the exact value of benefit of all kind for the employee? Which proofs do I need to collect for the tax authorities? Does it fit with the agreements made in the collective labor agreement of the joint committee?… These questions mainly originate from the existing unclarities in the fiscal regime, which is due to the fact that many HR managers are not yet acquainted with these new offers, the fact that new mobility offers are created continuously (making it impossible for the government to stay up-to-date) and the continuous change in regulation (e.g. "Mobility Budget", "Company Car Legislation"…). This lack of maturity in the industry puts a break on the adoption and this maturation might take years to unfold. E.g. meal vouchers took 40 years to arrive to a market penetration of 50%, while this is a much simpler HR product than most mobility options. Until this maturity level is reached, resulting in more well-known, better integrated, more frictionless and cheaper offers, the traditional company mobility options of reimbursing public transport subscriptions and salary cars will remain mostly used. Those are still most widely known by HR managers, are fiscally still very interesting and fit well the needs and desires of most employees. This last argument is important, as no mobility option will become mainstream unless employees are happy with it. This means the mobility option should not only give a solution for "Professional displacements" but also for the "Private displacements" (in evenings, weekend, holidays…), often with the whole family. Nonetheless we see the market is maturing and transforming, as millions of euros of VC money are invested in promising new start-ups. Almost all of those start-ups are not profitable yet but given the market potential a few of them could grow out to become unicorns. Today’s students are more acquainted and open for these new mobility services, so likely some of them will become mainstream in the next decade. Today a whole eco-system of young start-ups and existing incumbent players are offering mobility services, like Car leasing companies: Alphabet, ALD Automotive, ING Lease, KBC Autolease, LeasePlan, ARVAL… Car rental companies: Sixt, Avis, Dockx, Hertz, Rent a car… Car sharing companies (in the form of cars that can be easily used for individual trips up to platforms facilitating sharing your private car or co-driving): Cambio, Poppy, Partago, Zipcar, Cozywheels, Getaround, Dégage, Share Now, Stapp.in, Tapazz, BlaBlaCar, Klaxit, TooGethr, Carpool (Mpact)… Taxi services: Uber, Wave-a-Cab, Taxi.eu, Heetch, Bolt, Free Now, Allocab… Bike leasing companies: Ctec, O2O, Joulebikes, KBC-Fietsleasing, B2Bike, Cyclis, Lease-a-bike, Cyclobility, Cycle Valley… (e)bike, (e)step and scooter sharing & renting: Lime, Dott, Bird, Felyx, Scooty, Villo!, Billy Bike, Mobit, Blue Bike, Swapfiets, Spinlister… Fuel card and Electric charging card issuing companies: Network Fuel Card, Modalizy, Fleetpass, Belgian Fuel Card (BFC), XXImo, EDI (Electric by D’Ieteren), New Motion, Plugsurfing, Blue Corner, Luminus, EVBOX, Cenergy, Eneco, Dats24, EV-Point,… Parking companies (either companies providing public parkings or platforms to share individual and company parkings): Yellowbrick, Indigo, QPark, BeMobile, BePark, Pasha, ParkOffice… Companies helping to define mobility plan and manage setup of policies and mobility plans/budgets: Social Secretariats (SD Worx, Partena, Securex, Acerta, Liantis…), Payflip, Mbrella, MaestroMobile (Espaces-Mobilités)… MaaS (Mobility as a Service) players: Modalizy, Skipr, Optimile, Olympus, Be-Mobile, MyMove, Vaigo (Eurides), Moveasy… (Inter-modal) Route planners: Google Maps, Coyote, Waze, Mappy, Jeasy, Skipr, Stoomlink… Co-working place companies (either companies providing co-working places or platforms allowing to reserve spaces over multiple co-working places): Bar d’Office, Workero, Cowallonia, Burogest, Regus, Welkin, Meraki, Frame 21, Fosbury & Sons, Start it, Coffice, Spaces, House of Innovation, Ampla House, WeWork, Betacowork, Startbloc, SilverSquare… Expense management solutions for local and international (mobility) expenses: Rydoo, XXImo, MobileXpense, N2F, Certify, SAP Concur, Travel Perk, Trippeo, SpenDesk, Splendid, Declaree, SRXP, Dicom, WebExpenses, Notilus, Expensify, ExpensePath, Abacus, ExpensePoint… It will be interesting to see which of those companies will still be around in 10 years (i.e. which of the start-up have sufficient funding to bridge the long-time gap to profitability) and to which form they have evolved. Clearly regular pivoting will be required as this market is in full evolution.

Read More
Software and Technology, Logistics

Complexities Triggering Technological Advancement in Transport & Logistics

Article | July 20, 2022

Over the past decade, transportation and logistics have witnessed an immense transformation, from using automotive vehicles to drones and paper tags to advanced geotags. Also, the introduction of novel technologies and incorporation of innovative solutions such as artificial intelligence and blockchain has further reshaped the sector. How is Rising Complexity Triggering the Adoption of Novel Technologies? Today's supply chain is, in a word, complex. It has so many complexities, from ever-rising consumer expectations and disruptive events to globalized sourcing and omnichannel demand, that it is now being compared to a modern-day Gordian knot. With complexity comes ambiguity, particularly in the transportation and logistics industry. For instance, importers are expected to find cost-effective and efficient ways to transport goods from manufacturing facilities, which are frequently located halfway around the world, to distribution centers and then, ultimately, into the hands of consumers. In addition, e-commerce has further added to the complexity by introducing new channels into the jumble along with the introduction of same-day or next-day delivery standards with higher transparency and tracking features by leading players such as eBay, Walmart, and Amazon Here are a few prominent technologies assisting logistics companies to counter these complexities. Data Analytics Big data analytics aids in the more accurate and efficient planning of operational processes, services, and strategies, allowing businesses to align with emerging consumer needs. Artificial Intelligence (AI) and Machine Learning AI and Machine Learning have become the most sought-after tech in the transportation food chain. It assists businesses in enhancing operational functionality, boosting productivity and speed, designing optimal transit networks and routes, and improving safety through predictive risk calculation and elimination. The Internet of Things (IoT) With the rising need for transparency and tracking of shipped goods, IoT is garnering immense popularity across the transportation and logistics sector. It enables businesses to monitor and track their goods in real-time with the help of geo-tagging, RFID tags, and GPS, resulting in fewer delays in deliveries.

Read More

Warehouse layout optimization tips to increase production

Article | October 15, 2020

Labor costs, on an average, constitute more than 65% of the expenses for a warehouse. It is a best practice to review the operation of your warehouse before implementing automation, but it also has a significant impact on production and operational efficiency. The processes in a disarrayed warehouse cannot easily be automated as automation heavily relies on warehouse layout optimization, as well as standardized processes and procedures.

Read More

Spotlight

Overseas Shipholding Group

Overseas Shipholding Group, Inc. is a leading provider of energy transportation services delivering crude oil and petroleum products throughout the United States and the world.

Related News

Logistics, Supply Chain, Transportation

AIT Worldwide Logistics Acquires Global Transport Solutions Group

Business Wire | February 05, 2024

AIT Worldwide Logistics, one of the world’s leaders in global supply chain solutions, has acquired Global Transport Solutions Group (GTS), a prominent international freight forwarder specializing in time-critical marine spare parts logistics. Headquartered in the Netherlands, GTS and its more than 600 teammates across 16 locations in Asia, Europe, the Middle East and North America, serve over 2,000 ports around the world. The GTS network also includes nine consolidation hubs totaling more than 45,000 square meters of warehouse space. AIT Chairman and Chief Executive Officer, Vaughn Moore, said, “I’d like to welcome our new GTS teammates to the global AIT network. This is the largest acquisition in our company’s history and GTS’ marine spare parts business is an excellent complement to AIT’s time-critical supply chain solutions.” The company’s business is divided into two sub-brands: Marinetrans (founded in 1991), excelling in “door-to-deck” spare parts logistics for ship owners and managers, and Best Global Logistics (founded in 2007), providing time-critical solutions and general forwarding for other industries, including life sciences shippers. According to AIT’s Chief Business Officer, Greg Weigel, the acquisition provides the company with new geographic presence in Greece, Japan and the Nordic region while adding significant capacity and subject matter expertise to existing AIT networks in China, the Netherlands and Singapore. The deal also provides a strong foundation to expand GTS’ world-class marine spare parts solutions via AIT’s expansive global freight network. “The acquisition of GTS creates an incredible portfolio of solutions serving the maritime industry with delivery of time-critical spare parts across all geographies. This is a perfect complement to AIT’s vertical strategies focused on expedited mission-critical services like our Critical Solutions Group, government and AOG team, and Life Sciences Division,” Weigel said. “We plan to rapidly invest and expand GTS’ North American operations by capitalizing on AIT’s robust salesforce in the United States and offering maritime customers a world-class spare parts logistics solution in every port.” AIT President and Chief Operating Officer, Keith Tholan, noted that the GTS core values – customer first, operational excellence, and partnership and collaboration – closely mirror AIT’s core values. “We are delighted to welcome GTS teammates to AIT,” Tholan said. “Their deep marine logistics expertise and three decades of proven on-time performance in a very demanding segment will complement the diverse solutions we offer across our vertical sector strategy. We also expect our best-in-class global air freight procurement will instantly benefit their time-critical operations.” According to GTS co-CEO John Burgstra, the acquisition is an opportunity for GTS to further expand their worldwide operations. “We aim to provide our clients an unrivaled experience when it comes to global visibility, transparency and on-time performance, fully unburdening them of the required logistical handling of their vessels’ spare parts,” he said. “We are excited about becoming part of a larger group and the global development opportunities this acquisition will provide for our teammates.” “Because of the highly fragmented and international nature of our clients’ requirements, they need a trusted partner with a vetted and effective global network,” added GTS co-CEO Vegard Prytz. “GTS will gain enormous benefits from leveraging the global AIT infrastructure, creating an even more integrated and seamless solution for clients around the world.”

Read More

Operations, Supply Chain, Transportation

CPKC Joins RailPulse Coalition Driving Innovation in Railcar Telematics

PR Newswire | February 02, 2024

Canadian Pacific Kansas City (CPKC) today announced its membership in the RailPulse Coalition. RailPulse, founded by a dynamic consortium of forward-thinking railcar owners, is working to develop, broaden and accelerate the use of GPS and other telematics technologies on railcars that increase safety, efficiency, and visibility across North America's freight rail industry. CPKC becomes the third Class I railroad and 10th member of the coalition, joining Bunge North America, GATX, Genesee & Wyoming Inc., Norfolk Southern Corporation, Railroad Development Corporation, The Greenbrier Companies, TrinityRail, Union Pacific Railroad, and Watco Companies LLC. "We are pleased to be a part of RailPulse and to contribute to accelerating adoption of railcar telemetry in North America," said John Brooks, CPKC Executive Vice President and Chief Marketing Officer. "This collaboration aligns with our commitment to innovation and will play an important role in modernizing our customer experience and provide benefits to the entire supply chain by advancing safety and improving operations." The key objectives of RailPulse include: Industry Wide Telematics Infrastructure: The initiative facilitates collaboration among industry players by creating a secure, trusted, standardized, and vendor neutral railcar telematics infrastructure that spans the entire North American freight rail industry. Data-Driven Transformation: By building an information infrastructure that harnesses data from GPS and railcar-mounted sensors and prioritizing data standardization and storage in the cloud, RailPulse focuses on delivering actionable insights enabling enhance service levels, visibility, safety, sustainability, and productivity. Enhanced Service through Visibility: Through RailPulse, the integration of telematic sensors on railcars enables the generation of valuable data, empowering shippers with real-time visibility of railcar and goods movements to make informed decisions and optimize their operations. "We welcome CPKC to the RailPulse Coalition. Together, we will drive transformative change in the rail sector by combining our strengths and fostering a culture of innovation," said David Shannon, General Manager of RailPulse. "This partnership underscores our commitment to shaping the future of rail transportation." Response from RailPulse Members: "The Board of RailPulse is very excited to welcome CPKC," said Mike McClellan, RailPulse Board Chair and Sr. VP &Chief Strategy Officer at Norfolk Southern. "CPKC brings a breadth of railroading knowledge to the table, and the insights that CPKC will be able to contribute from operating in 3 countries will be invaluable as we drive RailPulse to serve all of North America." Forward looking information This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws in both the U.S. and Canada. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as "financial expectations", "key assumptions", "will", "anticipate", "believe", "expect", "plan", "should", "commit", "outlook", "guidance" or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited, to statements about future technology and the potential for telematics technologies to increase safety, efficiency, and visibility across North America's freight rail industry and CPKC's expected benefits from such future technology. The forward-looking information contained in this news release is based on current expectations, estimates, projections, and assumptions, having regard to CPKC's experience and its perception of historical trends. Forward-looking information involves many inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the factors that are detailed from time to time in reports filed by CPKC with securities regulators in Canada and with the U.S. Securities and Exchange Commission (SEC) in the United States. Reference should be made to "Item 1A - Risk Factors" and "Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements" in CPKC's annual and interim reports on Form 10-K and 10-Q. Any forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CPKC undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.

Read More

Operations, Warehousing and Distribution

LA Kings Partner with Lexani Performance Tires

PR Newswire | January 26, 2024

Turbo Wholesale Tires, and two-time Stanley Cup Champions, the LA Kings have announced a powerful brand partnership. As part of the multi-year agreement, brokered by AEG Global Partnerships, Lexani Performance Tires will become an official partner of the LA Kings, reaching millions of passionate sports fans. As an official partner of the LA Kings, Lexani Performance Tires will have the unique opportunity to engage fans each week during the season as a presenting sponsor of the LA Kings "Game Preview," which will appear on the team's official social channels. Lexani Performance Tire will also benefit from in-arena signage via dasher boards and scoreboard branding during all LA Kings home games at Crypto.com Arena. "We are proud to partner with the LA Kings and their global fanbase," said Phillip Kane, CEO of Turbo Wholesale Tires. "The Kings have a strong international brand and passionate following, we look forward to introducing their supporters to Lexani Performance Tire products." Turbo Wholesale Tires has been a trusted tire supplier, leading the industry with a strong emphasis and understanding of the independent tire dealer. Turbo Wholesale Tires has evolved into a national and international supplier of its proprietary brands, Lexani Performance Tire, RBP Tires and Lionhart Tires. With nearly a million square feet of warehouse space nationwide, Turbo Wholesale Tires continues to exceed the needs of its tire customers. "We are honored to be teaming up with Lexani Performance Tires," said Josh Veilleux, senior vice president, AEG Global Partnerships. "This collaboration not only brings a renowned tire supplier into our Kings family, but also introduces new ways for our fans to interact with its brand. We look forward to the positive impact this new partnership will bring to the team, Lexani Performance Tires and our incredible community of fans."

Read More

Logistics, Supply Chain, Transportation

AIT Worldwide Logistics Acquires Global Transport Solutions Group

Business Wire | February 05, 2024

AIT Worldwide Logistics, one of the world’s leaders in global supply chain solutions, has acquired Global Transport Solutions Group (GTS), a prominent international freight forwarder specializing in time-critical marine spare parts logistics. Headquartered in the Netherlands, GTS and its more than 600 teammates across 16 locations in Asia, Europe, the Middle East and North America, serve over 2,000 ports around the world. The GTS network also includes nine consolidation hubs totaling more than 45,000 square meters of warehouse space. AIT Chairman and Chief Executive Officer, Vaughn Moore, said, “I’d like to welcome our new GTS teammates to the global AIT network. This is the largest acquisition in our company’s history and GTS’ marine spare parts business is an excellent complement to AIT’s time-critical supply chain solutions.” The company’s business is divided into two sub-brands: Marinetrans (founded in 1991), excelling in “door-to-deck” spare parts logistics for ship owners and managers, and Best Global Logistics (founded in 2007), providing time-critical solutions and general forwarding for other industries, including life sciences shippers. According to AIT’s Chief Business Officer, Greg Weigel, the acquisition provides the company with new geographic presence in Greece, Japan and the Nordic region while adding significant capacity and subject matter expertise to existing AIT networks in China, the Netherlands and Singapore. The deal also provides a strong foundation to expand GTS’ world-class marine spare parts solutions via AIT’s expansive global freight network. “The acquisition of GTS creates an incredible portfolio of solutions serving the maritime industry with delivery of time-critical spare parts across all geographies. This is a perfect complement to AIT’s vertical strategies focused on expedited mission-critical services like our Critical Solutions Group, government and AOG team, and Life Sciences Division,” Weigel said. “We plan to rapidly invest and expand GTS’ North American operations by capitalizing on AIT’s robust salesforce in the United States and offering maritime customers a world-class spare parts logistics solution in every port.” AIT President and Chief Operating Officer, Keith Tholan, noted that the GTS core values – customer first, operational excellence, and partnership and collaboration – closely mirror AIT’s core values. “We are delighted to welcome GTS teammates to AIT,” Tholan said. “Their deep marine logistics expertise and three decades of proven on-time performance in a very demanding segment will complement the diverse solutions we offer across our vertical sector strategy. We also expect our best-in-class global air freight procurement will instantly benefit their time-critical operations.” According to GTS co-CEO John Burgstra, the acquisition is an opportunity for GTS to further expand their worldwide operations. “We aim to provide our clients an unrivaled experience when it comes to global visibility, transparency and on-time performance, fully unburdening them of the required logistical handling of their vessels’ spare parts,” he said. “We are excited about becoming part of a larger group and the global development opportunities this acquisition will provide for our teammates.” “Because of the highly fragmented and international nature of our clients’ requirements, they need a trusted partner with a vetted and effective global network,” added GTS co-CEO Vegard Prytz. “GTS will gain enormous benefits from leveraging the global AIT infrastructure, creating an even more integrated and seamless solution for clients around the world.”

Read More

Operations, Supply Chain, Transportation

CPKC Joins RailPulse Coalition Driving Innovation in Railcar Telematics

PR Newswire | February 02, 2024

Canadian Pacific Kansas City (CPKC) today announced its membership in the RailPulse Coalition. RailPulse, founded by a dynamic consortium of forward-thinking railcar owners, is working to develop, broaden and accelerate the use of GPS and other telematics technologies on railcars that increase safety, efficiency, and visibility across North America's freight rail industry. CPKC becomes the third Class I railroad and 10th member of the coalition, joining Bunge North America, GATX, Genesee & Wyoming Inc., Norfolk Southern Corporation, Railroad Development Corporation, The Greenbrier Companies, TrinityRail, Union Pacific Railroad, and Watco Companies LLC. "We are pleased to be a part of RailPulse and to contribute to accelerating adoption of railcar telemetry in North America," said John Brooks, CPKC Executive Vice President and Chief Marketing Officer. "This collaboration aligns with our commitment to innovation and will play an important role in modernizing our customer experience and provide benefits to the entire supply chain by advancing safety and improving operations." The key objectives of RailPulse include: Industry Wide Telematics Infrastructure: The initiative facilitates collaboration among industry players by creating a secure, trusted, standardized, and vendor neutral railcar telematics infrastructure that spans the entire North American freight rail industry. Data-Driven Transformation: By building an information infrastructure that harnesses data from GPS and railcar-mounted sensors and prioritizing data standardization and storage in the cloud, RailPulse focuses on delivering actionable insights enabling enhance service levels, visibility, safety, sustainability, and productivity. Enhanced Service through Visibility: Through RailPulse, the integration of telematic sensors on railcars enables the generation of valuable data, empowering shippers with real-time visibility of railcar and goods movements to make informed decisions and optimize their operations. "We welcome CPKC to the RailPulse Coalition. Together, we will drive transformative change in the rail sector by combining our strengths and fostering a culture of innovation," said David Shannon, General Manager of RailPulse. "This partnership underscores our commitment to shaping the future of rail transportation." Response from RailPulse Members: "The Board of RailPulse is very excited to welcome CPKC," said Mike McClellan, RailPulse Board Chair and Sr. VP &Chief Strategy Officer at Norfolk Southern. "CPKC brings a breadth of railroading knowledge to the table, and the insights that CPKC will be able to contribute from operating in 3 countries will be invaluable as we drive RailPulse to serve all of North America." Forward looking information This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws in both the U.S. and Canada. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as "financial expectations", "key assumptions", "will", "anticipate", "believe", "expect", "plan", "should", "commit", "outlook", "guidance" or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited, to statements about future technology and the potential for telematics technologies to increase safety, efficiency, and visibility across North America's freight rail industry and CPKC's expected benefits from such future technology. The forward-looking information contained in this news release is based on current expectations, estimates, projections, and assumptions, having regard to CPKC's experience and its perception of historical trends. Forward-looking information involves many inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the factors that are detailed from time to time in reports filed by CPKC with securities regulators in Canada and with the U.S. Securities and Exchange Commission (SEC) in the United States. Reference should be made to "Item 1A - Risk Factors" and "Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements" in CPKC's annual and interim reports on Form 10-K and 10-Q. Any forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CPKC undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.

Read More

Operations, Warehousing and Distribution

LA Kings Partner with Lexani Performance Tires

PR Newswire | January 26, 2024

Turbo Wholesale Tires, and two-time Stanley Cup Champions, the LA Kings have announced a powerful brand partnership. As part of the multi-year agreement, brokered by AEG Global Partnerships, Lexani Performance Tires will become an official partner of the LA Kings, reaching millions of passionate sports fans. As an official partner of the LA Kings, Lexani Performance Tires will have the unique opportunity to engage fans each week during the season as a presenting sponsor of the LA Kings "Game Preview," which will appear on the team's official social channels. Lexani Performance Tire will also benefit from in-arena signage via dasher boards and scoreboard branding during all LA Kings home games at Crypto.com Arena. "We are proud to partner with the LA Kings and their global fanbase," said Phillip Kane, CEO of Turbo Wholesale Tires. "The Kings have a strong international brand and passionate following, we look forward to introducing their supporters to Lexani Performance Tire products." Turbo Wholesale Tires has been a trusted tire supplier, leading the industry with a strong emphasis and understanding of the independent tire dealer. Turbo Wholesale Tires has evolved into a national and international supplier of its proprietary brands, Lexani Performance Tire, RBP Tires and Lionhart Tires. With nearly a million square feet of warehouse space nationwide, Turbo Wholesale Tires continues to exceed the needs of its tire customers. "We are honored to be teaming up with Lexani Performance Tires," said Josh Veilleux, senior vice president, AEG Global Partnerships. "This collaboration not only brings a renowned tire supplier into our Kings family, but also introduces new ways for our fans to interact with its brand. We look forward to the positive impact this new partnership will bring to the team, Lexani Performance Tires and our incredible community of fans."

Read More

Events