From trends to tactical insights—Connections 2024 day two highlights

Featuring two Leadership Series sessions and one panel discussion, the second day was chock-full of insights and pressing questions. Both Leadership Series sessions explored emerging industry trends, actionable business strategies, and the technologies driving the future of trucking and supply chain management. Sandwiched in between the two leadership sessions, a panel discussion featured three of the many giants in the third-party logistics (3PL) industry, leaders who are reshaping the space. Featuring an innovative playbook of strategies and trends, the panel addressed the relentless pace of emerging technologies—and how to keep up.

The day began with a dynamic and inspiring Connections Leadership Series keynote from Rebecca Brewster, President and Chief Operating Officer of the American Transportation Research Institute (ATRI). Brewster is a 30-year veteran of ATRI and the recipient of numerous awards. Her presentation shared ATRI’s crucial role in improving the trucking industry’s safety and productivity.

“We have all of our research grouped by what we call research hot topics: safety, congestion, mobility, and industry economics,” Brewster said. “And our Research Advisory Committee (RAC) members are charged with annually identifying the trucking industry’s top research priorities.”

Brewster presented a wealth of deep insights backed by ATRI’s research efforts. The session covered a range of topics, including gender and safety, cargo theft, the transition to electric vehicles, and the impact of cannabis legislation. These insights aim to improve industry standards and address challenges faced by stakeholders within the trucking sector. As she wrapped up the session, her answer to how the trucking industry must navigate the ever-evolving changes was clear: with adaption and innovation.

Next up was the dynamic panel discussion featuring Daniel Curling, CTO of Worldwide Express,

Andrew Dawson, CPO of InXpress, and Jessica Thompson, VP, Membership, Transportation Intermediaries Association. The triple threat dove into the session, focusing on what needs to be addressed for 3PL and what to prioritize for the upcoming year.

“AI, automation via RPA, and cybersecurity…technology is advancing at a very fast clip,” said Curling. “It’s not a matter of if[cybersecurity], it’s really a matter of when. We have to prepare for that, and we have to be looking at emergency and emergent technologies that will help us combat that.”

“I think to piggyback on that, I would agree with all of the technology,” Thompson echoed. “The incredible amount of fraud that we have right now in the industry has been so overwhelming to our members, and it snowballs everywhere. We’ve got carrier identity theft, we’ve got broker identity theft, we’ve got data breach cybersecurity.”

Dawson chimed in with a different perspective. “Typically, the 3PL market has provided a product that puts everybody into the same flow and really it provides a clean experience. But customers have expectations on how that’s going to have to change for them to augment their procurement strategies and things such as that.” 

The panelists went on to share how they’re approaching the major competition that’s reshaping the landscape and disrupting established norms. They offered insights into what 3PL may look like in ten years. Their collective answers included having flexibility and agility alongside the best technology strategy to keep up with the changes. They also discussed the ongoing issue of the labor shortage within the industry.

“I think about candidates that come from college backgrounds or ones that come from tech colleges. It’s always been hiring the best person for the role,” Curling said. “Really independent of what their background is…I think if we can onboard individuals into roles or organizations that help them to learn the business, it’s going to be advantageous for both the candidate as well as our business.”

Rounding out the second day’s last presentation was another Connections Leadership Series session with Noel Perry, Chief Economist at Truckstop.com and Avery Vise, VP of Trucking at Freight Transportation Research (FTR). Both speakers covered a range of economic and industry issues to watch, focusing particularly on the state of manufacturing, consumer spending trends, and the freight transportation sector. They highlighted the interconnectedness of trucking with the broader economy and the importance of monitoring economic indicators for forecasting market shifts.

Perry shared that trucking follows the economy. Since the economy doesn’t change much, the industry doesn’t either. The catch? When it does change, it can do so dramatically. “If you’re looking at forecasting, analyzing the market has three parts,” Perry said. “The first part, are we in normal times? The second part, are we not in normal times? The third part, the hard one, are we about to go out of normal times when I have to pay attention to the economy and what’s happening in the freight market?”