Two weeks ago, Princeton Consulting’s Steve Sashihara discussed some of the major technology disruptors that came to light after surveying 267 trucking firms. He detailed some of the innovations as follows:
Freight Uberization is the ‘Total or Partial disintermediation of freight brokers.’ Either:
- Existing transportation companies will automate one function after another in their existing business and freight flows,
- Or one or more technology companies will emerge with a system that will reduce the human capital requirements at legacy operating companies.
While there is no question that a ground shipment has many nuances, the establishment of broad definitions and standards across the transportation industry could enable a broad disruption of third parties in the freight transportation space.
Internet of Things and Big Data: These are the two most likely disruptors over the next few years. Most companies already have amassed mountains of big data, but they haven’t figured out how to use it to make enhanced decisions. However, with every unit of freight generating data every second – the time to tackle the data analytics challenge is now. Sashihara implied that those who figure out this opportunity first, be they big or small, asset-heavy or asset-light, international or domestic, multi-modal or single mode focused, they will be the big winners from here on out. Digital disruptors will help lower supply chain costs, while simultaneously becoming more reliably responsive to customer requirements.