3PL and Supply Chain Logistics Summit
This year’s 3PL and Supply Chain Summit represented a very important milestone. It is also a key stage in the evolution of the supply chain logistics industry. For the most part, the logistics industry has been keen to sit back and watch from afar. Other industries too have been more proactive in embracing the digital wave. They embrace the transformation sweeping today’s business world. For that, these other industries again have seen rewards. These include:
- newfound efficiencies
- improved productivity
- more powerful decision making
- an agile means to adapt and compete in fluctuating marketplaces
We also asked questions of logistics companies at the event. Moreover, that included both large and small companies. They told us that our industry is now primed for digital transformation, too. The time is now and companies, in addition, are finally ready to take the next step.
Of course, their very next question was always: How do we make that happen?
There’s also a lot of buzz coming into the show around the following:
- digital transformation
- data visibility
- data management
“Practical, Relevant and Game-Changing ‘Better Methods.’”
My keynote resonated with attendees. I gave them their first look into how they could take that first “digital” step. An also to do so in a realistic and cost-effective manner.
The keynote most definitely struck a chord (as it should have). At the Teknowlogi booth, our team held in-depth discussions. We did this with representatives from all verticals within the logistics industry. That includes:
- All different types of shippers
- Logistics services providers (both asset and non-asset)
- Other technology companies
Legacy systems lack the intelligence to address today’s logistics network. The role and capabilities of legacy industry systems have grown stale. This occurs as logistics networks and operations have become more dynamic and complex. Attendees now think of their legacy systems as unintelligent. They are in desperate need of a more intelligent system such as the Logistics Expert System (LES). The logistics industry now has “Tai.” IBM’s Watson was the first big technology platform to incorporate artificial intelligence. It helped companies across many industries run their businesses better.
Attendees still understood the significance of Tai. It is also the logistics industry’s only cloud-based solution built on AI. For example, Tai has tremendous industry consulting intelligence (CI) built-in. Tai can analyze, give advice, and execute change. Most other solutions leveraging AI do not have built-in, industry-specific consulting intelligence. They analyze and give advice.
Spreadsheets Hold Back Supply Chain Logistics
Logistics departments still run on spreadsheets. Many companies also admit that they still run their logistics departments on spreadsheets. This too includes many large companies. They struggle with what we call the “too many systems” syndrome. These organizations spend their IT energy and efforts in a fruitless manner. In particular, joining many systems into a single system. You’ve heard us refer to this as “swivel-chair” technology.
These companies also continue to rely on spreadsheets. They try to manage many systems and also put faith in outdated systems. These methods are unacceptable. It was very clear to us where and why logistics companies struggle with Big Data. Every company we spoke with at the Summit admitted something we expected. Their legacy systems were unintelligent. They also now look at their systems from a different perspective. Most important, they wanted to know how to upgrade to an LES.
Digital and data transformation have arrived for the logistics industry too. Use this ROI calculator to learn how it will impact your organization.