TMX Trendwatch: Week of February 26, 2024

Welcome to TMX Trendwatch, our new bi-weekly blog series that aggregates the latest transportation industry news and delivers it right to your fingertips. This week, we’re covering supply chain resiliency, generative AI, and how digital transformation can help shippers reduce wasted transportation management costs. Click on any of the stories below for more information.

How to Maintain a Resilient Supply Chain in 2024 and Beyond: “Invest in preparedness, not in prediction.” While it’s impossible to know what the future of the economy will bring, there are a few lessons companies can apply to keep their supply chains healthy during tough times.

"Essential to resilience is not depending on any particular scenario or outcome playing out, but being prepared regardless of the economic forecast and climate ahead."

How Machine Learning Will Transform Supply Chain Management: Companies across industries struggle to develop effective strategies that prepare their supply chains to withstand unforeseen disruptions. But researchers say a new “optimal machine learning” model achieves this feat by overcoming the three biggest challenges in existing planning methods.

Supply Chain Leaders are Flocking to Generative AI: Half of the supply chain leaders surveyed by Gartner are planning on implementing artificial intelligence into their supply chain. The top expected benefits? Increased productivity, additional business agility, cost reduction, and improved profitability.

“If you eliminate the time trying to get insights, and give planners more time to make better decisions and cooperate with others in the organization … it’s a force multiplier.”

Trucking Engaged in Tech Arms Race Against Cargo Criminals: More than 600 strategic cargo thefts were reported over the past year—compared to an average of just 58 in years past. Criminals are exploiting technological weak spots, but there are ways to shore up your defenses. ?????

Digitizing Mid- and Last-mile Logistics Handovers to Reduce Waste: Between 13% and 19% of logistics costs are lost to inefficient interactions—accounting for up to $95B in losses each year in the U.S. alone. The solution: strategic alignment, building up your transportation management capabilities, and achieving technology adoption at scale.

What transportation trends are on your radar so far in 2024? Let us know in the comments!