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January 2 2023

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116 Journal of Commerce | J anuar y 2, 2023 EXECUTIVE COMMENTARY ANNUAL REVIEW & OUTLOOK 2023 Logistics proactive platforms that can isolate and resolve exceptions quickly with little intervention. That will bring more precision execution to supply chains, which in today's fast-paced market, will be crucial to success. WiseTech Global Richard White CEO and Founder In the past two years, we've seen an acceleration of digitaliza - tion across the logistics industry. However, as we all know, we still have a long way to go. Paper and human-readable e-paper still play a far too important role across the supply chain. And sending something by email only to have it be printed or manually rekeyed is not true digitalization of a process. However, the growing wave of digital solutions offers a real opportunity to drive lasting change by building and embracing digital documentation and straight-through processing (STP). We've seen some progress in the adoption of electronic bills of lading, e-documents, and digital communications; however, there is an important and valuable need for supply chain participants and logistics businesses to manage all their operational and reference data globally and entirely digitally. According to a recent McKinsey & Co. report, documentation for a single shipment can require up to 50 sheets of paper that are exchanged Trucker Tools Prasad Gollapalli CEO and Founder The trucking and logistics industry has seen dramatic change over the past sev - eral years. Leading the charge has been a truckload of tech - nology providers, some new to the game, others well-established. It's a continuing demand that has ratch - eted up the pressure on third-party logistics providers (3PLs) and bro- kers to quickly adapt and employ new technologies as shippers demand even faster responses and more accurate information. Demands for real-time informa- tion and constant visibility are more frequent and complex than ever before. Emerging to address those issues have been a variety of digital brokerage platforms with tools such as automated visibility, predictive freight matching, automated book - ing, and near-real-time visibility tracking of loads to within feet. The industry still needs to inno- vate, and that will require brokers to step their game up once again. Where will that innovation occur? It's all about data, and the next step on the innovation curve is making that data intelligent. Such next-level software tools, utilizing machine learning and artificial intelligence, will take those data sets, apply learned intelligence to them, and inform the user that not only "here is an exception" but "here is an exception and now here is the next step to resolve it." A case in point is booking a truck for a load. Your system tells you the truck will be at the load point at 2 p.m. But the driver calls in and cancels the load. That means the broker now needs to go back to the freight-matching tool and find another truck. Next-genera - tion intelligent platforms will flag that missed pick-up, automatically review its data on available trucks, and provide a "here is an available truck that can make the pick-up" recommendation to the broker. Insights, intelligence, and control. Those are the benefits that will come out of these data-rich, "Next-level soware tools...will inform the user that not only 'here is an exception' but 'here is an exception and here is the next step to resolve it.'" "Paper and e-paper still play a far too important role across the supply chain... Human- readable documents should be an option used only when absolutely required by law or technical impediment." UWL Duncan Wright President Looking back, what strikes me is the incredible pace of new technology being introduced. It arrives at near breakneck speeds, and teams must learn and shift to keep pace with competitors. Technology, by and large, leads to automation. We use the tools to make our jobs easier. The bits of aut - mation today — ship-to-shore cranes, self-driving trucks, etc. — are starting to really drive efficiencies and improve service delivery to customers. The thing that cannot be auto- mated is how companies build up teams and a culture. Teams and com- panies can be ripped apart by constant change, or they can come together and thrive by growing through it. That kind of resiliency and preparation are part of what must be ingrained and built into high-performing teams. And no technology can automate that process. Companies that have that kind of resilience — the attitude, perhaps, of "bend but don't break" — will be successful regardless of what automa - tion comes their way. Those teams generally have the culture, process, and structure to handle the tremendous uncertainty that the future holds. And this mindset applies across all of the supply chain; without the ability to truly predict the future, how we respond to changes affects how we do in the market. It could cause internal chaos, unless the cul- ture is established and people are ready for the unexpected. What will separate the best of the best will be how teams use their expertise and ability to adapt to help their organizations grow up or down, without completely breaking the processes they have built. By leveraging the people and data available to them, they can make deci- sions and move swiftly. These teams can adapt and incorporate the new technologies that are on their way and will be far more likely to thrive in the years to come. "Companies that have that kind of resilience — the attitude, perhaps, of 'bend but don't break' — will be successful regardless of what automation comes their way."

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