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Gates Corporation Director of Global Procurement Dave Fisher sees an opportunity for data to solve the inefficiencies of both carriers and shippers alike.
Fisher explained the benefits of supply chain visibility and transparency with FreightWaves CEO Craig Fuller as part of the FreightWavesTV show "Fuller Speed Ahead."
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Advancements in technology have revolutionized the movement of freight, bringing never before seen visibility to everyone in the industry. Fisher mentioned, for instance, how amazing it is that logisticians no longer have to call someone for spot rates and freight tracking but instead can receive real-time status updates online.
Fisher argued that striving for efficiency has always been a common goal shared between shippers and carriers. Because of the massive amounts of information-rich data available in the transportation and logistics industry today, many have taken advantage of this new-age gold rush.
"I think it's organic. The desire has always been there for both carrier and shipper. The desire has always been there to show what's going on with their platform at any given time," Fisher said. "I think what's changing is the technology is getting so much better now and that technology being aggregatable is now the fundamental shift, the paradigm shift that's really changing our industry."
Fisher thinks the industry has to organically go toward the idea of changing the fundamental relationship between carrier and shipper so both parties talk in the same language.
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"Shippers and carriers alike have the exact same problem, which is control and custody of their freight. That challenge has manifested itself in a variety of ways from a technical aspect in terms of how accurate is the data, how timely is the data, how well is the data aggregated so you can do something with the metrics themselves," said Fisher.
He continued, "What is my total on-time delivery? What is my reject rate? What is my freight density by region? All of these KPIs are fundamentally speaking the same language: How do I optimize my platform? How do I forecast problems in my supply chain? And how do I avoid those problems before they occur?"
Fisher has focused his entire career on the optimization of transportation and logistics. He's enjoyed successful tenures managing the Southeastern region for Danzas-DHL as well as specializing in procurement for Goodyear Tire and Rubber.
As a veteran of the industry, Fisher believes the transparency of supply chain data can not only solve problems for those in the shipping process but also help in forecasting when and where to pick up loads at the right place at the right time.
"I think the proof is in the data," said Fisher.
If shippers and carriers work together, Fisher argued, then the dynamics of rate and exchange get more efficient.
"That's the beauty of data; the accuracy of it is self-evident," said Fisher.
Image Sourced from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.