Tech I: Freight Procurement's Permanent Shift
A truckload shipper transported forward in time from 2012 to today might be amazed at the volume of options available to procure capacity in the market. From digital brokers and freight marketplaces to “book-it-now” functions, the nature of freight procurement has been fundamentally changed by the internet, by mobile apps, and by a market where dynamic decision-making is becoming the norm, not the outlier. On the one hand, more frequent bidding — in other words, mini-bids — is becoming more manageable, and in some cases, more desirable. On the other hand, automation is helping shippers to better define where they have repeatable volumes, allowing them to focus on more volatile SKUs or lanes. Routing guides and biannual rate negotiations are no longer realistic when the market and the tools available suggest a more efficient path, not to mention the growing importance of reducing emissions in procurement decisions. This panel of software and data providers will discuss the way the market has forever changed and chart an actionable course through the chaos.