The Extra Mile Podcast by Metafora
The Extra Mile Podcast by Metafora explores the world of Transportation and Logistics. We’ll chat and challenge the leaders who drive our industry and create the technology that helps take everything where it needs to go. From trucking company best practices to freight brokerage risk management, becoming a carrier of choice, and beyond. Join our experts as they discuss some of the industry’s most relevant topics with guests who live and breathe logistics.
A deep conversation around Logistics Systems with Mike Mulqueen from JBF
In this episode, Adam Perlmutter chats with Mike Mulqueen, Consulting Strategy Practice Lead at JBF Consulting. They have a deep conversation around logistic systems and the complexity of selecting the right system. Mulqueen also outlines big logistics technology changes, recent market trends, key technologies/considerations that shippers should be watching, and more! “Our primary clients are shippers… that will use contract freight, LTL,, truck load, parcel. Oftentimes they'll have either dedicated fleets or private fleets, and we help them in a number of ways. My practice is focused on technology assessment and making a determination as to what technology or set of technologies an individual shipper should be using to achieve their desired end state.” - Mike Mulqueen Implementation of TMS The Challenges Due to issues such as bad data, organizational changes, and turnover, businesses often do not reap the full benefits of their TMS. At JBF there is a practice called "Accelerate", which revolves around continuous improvement, providing organizations with training on specific applications, super users, and also doing a decent amount of modeling and acquisition events. Exciting things in the logistics space You get to solve big problems Opportunity to have an impact on shareholder value and transportation Transportation and supply chain has become forefront in everybody's mind The complexities are so grand that you never stop learning Transportation and logistics has so many sub components are very differ, each with their own unique set of problems to solve. Truckload, intermodal, LTL, ocean, air, parcel. Then add to this all the complexity that comes along with geographic variables. If you want to solve big problems, transportation will keep you on your toes! How does JBF Consulting go about determining who is the right fit for clients? Define the desired end state. Look across all key sub-processes of transportation for a shipper and in multiple different lenses. Ex. How do you procure contract rates? What is your process for inbound transportation, be it international or domestic inbound? What is your process for outbound transportation? Figure out what they're doing well and what they're not doing well. Then document what the opportunity is. Understand the KPIs that will be used to determine success is also key in the vendor selection process. That becomes the basis for JBF’s vendor selection. “TMS applications are extremely reliant on good data. I need to make sure my rates, my contracts, my customer preferences, my time… all these different pieces are set up accurately, and it's not just a one time setup.”- Mike Mulqueen Key technologies that shippers should be watching Microservices architectures with defined user exits (i.e. web hooks that enable TMS customers to customize the solution) Old paradigm of waiting for the annual release is (or should be) dead Enable the market to build extensions Machine Learning Lots of hype, but this will be important in the long run Focus has been primarily on two areas Pricing Predictive ETAs Requires lots of data Requires new skill sets for ML users, but potential is there. Probabilistic Optimization The world is uncertain. Probabilities need to be taken into account during planning Ex: Should I put my fleet on Load X? Decision is determined based on the probability of a load originating near the termination of Load X. Should I ship this UPS ground if the customer needs it tomorrow? “You want your TMS system almost to have to be thinking like your dispatcher, your dispatcher's got all this knowledge in their head. They know stuff. I'm trying to make it so that my TMS system has that same level of knowledge and can make decisions appropriately.” - Mike Mulqueen About JBF Boutique consulting firm Focus on transportation management technology Primary clients: shippers! Learn more about JBF at https://jbf-consulting.com/
September 30, 2022
Driving a Meaningful Company Culture with Randy Perkins from ITS
In this episode our hosts, Robert Bain and Adam Perlmutter chat with a special guest… Randy Perkins, VP of Capacity at ITS Logistics. They discuss ITS Company Culture and the challenges that have come with growth as well as the importance of driving a meaningful and impactful capacity strategy. Randy’s Background: He worked in diesel parts for a long time. His brother started working with ITS and motivated him to come on board too. As soon as he got into this, it pulled him in just like it probably pulls most people in... It's addictive! (In a good way!) T&L is a fast paced environment and the mainframe of the economy. “I'm not going anywhere, you know this is it for me, this is my endgame, I'm here indefinitely”.- Randy Perkins, on how much he enjoys working at ITS, and thus plans to stay there. ITS in the market ITS was founded in 1999, started off as an asset sized, and then expanded to warehousing as well as brokerage. They founded their brokerage arm in 2012. Since then, they’ve just exploded into a top 25 brokerage firm. Their main focus is specializing in expedited, which is the uniqueness that ITS provides to the industry. They work in every different aspect such as: having a drayage division, the standard OTR division, reefer temp control division, specialized freight. Company Culture Growth & People ITS’s growth thus far has been organic. They started small and credit a lot of their business growth to their people. ITS is very focused on the competitive nature and everybody that they bring in house. The other unique thing about ITS’s business model is that they have a significant amount of assets, and they utilize those same assets in their brokerage side. Recruiting It all starts with the ability to recruit the proper people. ITS have done a lot in regard to making sure that they are hiring optimal types of personalities. While industry experience is important, ITS cares more about your ability to take on challenges and overcome them. For example, they want to know: How have you overcome adversity in your life? Are you that type of person when things get hard? Are you able to overcome that? What are some of the challenges that have come with growth? They had to overcome negativity in the beginning. A lot of people told them “You can’t” when they started. Critics challenged ITS’s ability to be based out of Reno and to be regionally located, but ITS has succeeded. Technology difficulties: early on, they had a lot of manual processes. They had to slowly but surely get the right tech in place. Making sure they provided the team with what they needed to succeed was huge for them. Again, Randy repeats that part of the secret sauce for ITS is their employee recruitment. ITS hires people in a very selective way with the intent of keeping them long term. Initiatives Improving training: From teaching people how to engage with carriers and promote growth of the relationship to how to manage issue resolution. Continue to become and maintain a status of best in class. With this, they launched their “Carrier Commitments”. “Focus on the root, not the fruit.” Focus on driving relationships which is the root, and the fruit of that, which is that carriers genuinely appreciating working with ITS, will come. Tech focused on driving efficiency, productivity, and the carrier experience: load boards, general carrier engagements, working on care, reports… Carrier benefits: show carriers that they're valued. Ex: driver appreciation week. Capacity strategy Capacity strategy is so important to every organization because it's needed. Every brokerage firm needs to invest into capacity strategy. There are stigmas and stereotypes that need to be broken and capacity strategy helps break the stigma and stereotypes associated with carriers. How do you create a meaningful and impactful capacity strategy? Constantly reiterate it: keep it front of mind - don’t get complacent. Employ the right people: when you have p
August 24, 2022
Nearshoring Productivity & Company Culture with Roberto Icaza
In this episode one of our hosts, Robert Bain, chats with a special guest… Roberto Icaza, Co-Founder, President and COO of Rapido Solutions Group. They discussed the successes and milestones that Rapido has achieved, as well as the benefits of adding near shore solutions to your business, such as having native Spanish speakers assisting with cross-border service offerings. The Beginning of Rapido Solution’s Group: They started in Guadalajara, Mexico in 2019 working as a solution finder They began building high performing logistics teams They grew by understanding the market and networking Successes & Milestones the business has achieved: Rapido Solutions Group has excelled at finding quality talent and retaining them! They are proud of their ability to build good and lasting relationships between employees. As Roberto Icaza mentioned, Mexico can offer a lot to US logistics companies not just in proximity, cultural affinities and great talent, but also, as logistics companies work to add a cross-border “mode” into their service offerings, they can leverage Rapido to help. Implementing a cross border offering has long been a challenge for US logistics companies due to the complex process, multiple parties involved, and language needs. The Importance of Culture: Rapido’s vision is to radically change the Latin American work culture and help their customers achieve sustainable growth. They believe that “people first” approach is very important to the productivity and success they are seeing. Rapido’s culture: They make sure their employees feel that they have a voice, that they are heard, that they’re getting paid fairly, and they have great benefits. Activities such as focus groups, Rapido health benefits (nutrition, psychiatry, mental health, etc) and many other things so that employees are in a comfortable workplace environment and they can have tools to also grow both professionally and personally. “Our culture is our DNA. Metafora’s mission is to make each of you the best version of you that you could be.” - Robert Bain Rapido’s Future Hyper growth! Continuing to partner with great companies in the US and find ways to help provide solutions that they haven’t seen before. Big Focus: Infrastructure! Making sure they have the office space, the equipment and everything people need to set up for success in a hybrid model, in the office or even remotely. Learn more about Rapido Solutions Group at https://rapidosolutionsgroup.com/ Roberto Icaza can be found on Linkedin here or can be reached by email at email@example.com. Learn more about Metafora+, Metafora’s partnership program here. Interested in chatting with a SME from Metafora? Request a free discovery call here!
June 29, 2022
M&A In Transportation & Logistics
Everything about M&A in this episode with our hosts Bain and Perlmutter and our special guest from Metafora… JT Engstorm!!! You will learn some of the main challenges of the M&A process. This process it’s so much more than the transaction, it's about finding the best match, where are the best synergies and who's the best partner. Learn more about M&A services here! Things you need to consider in the M&A lifecycle: When is a good time to look? If you’re buying: You want to find an asset that's a good investment. Ideally there is a strategic rationale above hitting performance targets. Ideally the asset also has a leadership team that aligns with your target future goal of future ownership of the business. If you’re selling: Maximizing valuation. Finding the right home, being with the right people. Appropriate ongoing financial incentives A lot of executives don't pay themselves through cash comp. They're taking distributions off the business. So when they transfer ownership they need to be conscious of what the financial implications are on an ongoing basis so they can be appropriately incentivized to keep doing what they're doing. How can a company reduce risk when buying or selling? Do a quality of earnings: You want to really deeply understand the financials of the business. Have strong legal counsel. Do an assessment of talent: Consider what could be done by a third party? Minimize access to your business: You’re only going to end up with 1 or 0 buyers. If you have 50 potential buyers, cool, but 49 of them are not going to buy you, and they go right back to being your competitor in the marketplace. This is more relevant to a seller. It is a strategic risk when you have a potential competitor considering a buy and thus having access to your proprietary information. After being merged or acquired, then the real work starts for the operators. They need to have a management and operating plan, peel another layer on the onion of who's going to be doing what. The business building doesn't stop, it's just entering a new phase. Do you want to challenge the obstacles of the M&A lifecycle? Are you curious if your strategy is making a positive impact? Do you want to know more about your company's strengths in terms of M&A? We can help you out! Request a free discovery call here to learn more!
June 13, 2022
TIA Capital Ideas Recap
Most popular topics at TIA Capital Ideas Conference & Exhibition We are so excited to tell you everything about #TIA2022CON!! Our hosts Bain and P-Mutt from The Extra Mile Podcast were there, and in today’s episode they shared some of the key takeaways, like strategy focus, people and culture, customer acquisition and technology. Key takeaways from all the sessions and learning labs that Metafora participated in: Growing a Brokerage Feels Tricky 📝 Strategy - Don't just set it and forget it. Make time regularly to extricate yourself from the day-to-day to revisit and focus on your strategy. 📍 Location Strategy - We’ve seen many different location strategy models that have worked and that haven’t worked. The key is to be intentional about what you want to work for your business. 📱 Freight Tech - “What is the best TMS?” is not the question you should be asking. First you should be considering TMS as one part of your larger, overarching tech strategy. Then, you need to consider: What is the best TMS…. for you. ⭐ Company Culture - It’s more than pizza parties and pop-a-shot. It’s about getting people onboard with a shared mission. It’s how your team feels about the business, how they feel about your customers. Shared company values that people connect with. Capacity Strategy is Rapidly Evolving for Everyone What is Capacity Strategy? Capacity Strategy is answering two main questions: How do you go to market with your carriers? How do you sell liquidity to your customers? Your answers to these questions will inform how to build the rest of your capacity organization. Are you curious if your capacity strategy is working? Could you use some pointers on how to implement a stronger capacity strategy? Want to learn more about how to become a preferred booking partner for carriers? Not to brag, but we have the answers to these questions. Request a free discovery call here to learn more!
April 21, 2022
Big News x 3! And! Special Guest: David Bell, Co-Founder of Lean Solutions Group
Season 2, Episode 3: Big News x 3! And! Special Guest: David Bell, Co-Founder of Lean Solutions Group Big News Part 1: Metafora at TIA Capital Ideas Conference & Exhibition We can’t stop talking about #TIA2022CON because we’re so excited about it, and it’s finally here!! The Extra Mile Podcast Hosts Bain and P-Mutt will be in attendance from Metafora, so come by Booth 200A to say hello! While you’re there, you can chat with experts, explore partnership opportunities, grab some cool Metafora swag, and enter our “See How Far Your Business Can Go” sweepstakes! Want to know everywhere Metafora will be this week in San Diego? Well, you’re in luck because… there’s a blog for that! See all things Metafora at TIA Capital Ideas Conference & Exhibition here. Big News Part 2: New Service Offering from Metafora: M&A! Metafora is excited to announce the launch of a new, transportation and logistics specific M&A capability. Our team is positioned within the industry to guide businesses throughout various stages of the M&A lifecycle: Defining an M&A Strategy, Building a Target Pipeline, Conducting Due Diligence, Transactional Support, and Executing Integration Activities. Using 2021 as a launchpad, Metafora is dedicated to serving, growing, and disrupting the transportation and logistics space into 2022 and beyond. Learn more about our M&A capabilities and sign up to chat with an expert here. Big News Part 3: OFFICIAL PARTNERSHIP ANNOUNCED WITH… LEAN SOLUTIONS GROUP! Metafora and Lean Solutions Group are partnering to further the Transportation & Logistics Industry through Technology, Staffing, and Organizational Improvement. Lean Solutions Group will work with Metafora to provide recruitment, staffing, and team spin-up services delivered from the Lean’s nearshore satellite locations in Latin America. Metafora has developed a rapid operating model assessment to quickly identify what parts of an organization are best suited to move nearshore to optimize process and cost efficiency. Learn more about the partnership here.
April 06, 2022
The Evolution of the Industry and Why we Need a Carrier-Centric Mindset
Season 2, Episode 2: The Evolution of the Industry and Why we Need a Carrier-Centric Mindset with Special Guest: Kristopher Glotzbach In this episode, Bain chats with special guest Kristopher Glotzbach about tech, automation, EDI, integrations in freight, influencers, and so much more. Kristopher Glotzbach has nearly 30 years of experience in the freight industry. From valuable and significant time at CH Robinson, Uber Freight, FourKites, American Backhaulers, ShipWell and more, Kris has seen this industry evolve from a time when work was done with atlases and pieces of string and drivers calling in from pay phones to the complex tech game we play in now. SHOW NOTES The Evolution of the Industry Remember when lanes were mapped with atlases and string? And drivers had to call in from pay phones? Then came... the first proprietary TMS! Now we have a wealth of tech springing up like API integrations and automation software. Kris Glotzbach hot take: "I think what it's (tech) intended to so is really automate everything... and I think that in itself may be the problem. You're not going to be able to automate everything. What it should really be doing is making people's lives better." The best tech helps remove redundancy and gives prescriptive and guided actions. Then we began amassing large amounts of data, which was great but became Monday Morning Quarterbacking. Now with the addition of smartphones and ELDs we can start using this data to predict and prescribe the path of least resistance. TMS, Tech Strategy, and Integrations in Freight TMS is not a tech strategy by itself, but TMS IS something that every brokerage that wants to grow needs to be mindful of. A TMS downstream is hard enough. A TMS for shippers, infinitely harder. With this, you're going upstream one level. You're getting into the planning horizon, etc. This is where it becomes more complex: A lot of disparate systems, integrations become a huge challenge. It's exciting to see now this evolution of digital tools that are bolt-on to existing TMS. (Buy what you can, build what you need to differentiate!) Carriers and Data We need to work with carriers in a way that allows them to monetize all this data they are gathering. Yes, we are currently in a carrier-centric market, but no matter the market conditions, we need to maintain a carrier-centric mindset because carriers are the lifeline of this industry. With so many disparate systems now, we need to move to APIs where we can set up 1 to many integrations instead of the one to one integrations that happen with EDIs. What does Kris see for the Future of Freight? We'll see more of capacity as a service - or trucks as a service model. Trucks will roll off the line with tech embedded into it. Automation and autonomous vehicles - We've made strides but we’re a ways from full automation or autonomous due to infrastructure, regulations, sophistication. Rather we will see more tech-enabled drivers. “If I'm a small-to-mid sized broker, I really need to be thinking about tech.” -Kristopher Glotzbach If you want to reach Kristopher Glotzbach, you can email him at firstname.lastname@example.org.
February 21, 2022
What Does it Mean to be a "Shipper of Choice"? with Brad Forester of JBF Consulting
BIG NEWS! Adam and Bain share the news that CarrierDirect is now Metafora! So yes, that means we are now The Extra Mile Podcast by Metafora! You can read more about our rebrand here. Also! Bain will be attending the Manifest conference in Las Vegas this week along with Peter Rentschler, Ryan Schreiber, and Shanna Greathouse. If you'll there too, see where to find Metafora at Manifest here. Let's also continue to celebrate some of the amazing people highlights that our company achieved in 2021. View the people highlights infographic that Adam and Bain reference here. We are also pleased to announce our partnership with JBF Consulting to deliver smart TMS solutions across the shipper and 3PL world. This is part of the partnership program: Metafora+. In this episode, we chat with our special guest about how 3PL and shipper worlds are colliding. What does it mean to be a shipper of choice? And without further ado, let's chat with industry star, managing partner and founder of JBF Consulting, and skin care expert, Brad Forester. About JBF Consulting Since 2003, we’ve been helping shippers of all sizes and across many industries select, implement and squeeze as much value as possible out of their logistics systems. We speak your language — not consultant-speak – and we get to know you. Our leadership team has over 70 years of logistics and TMS implementation experience. Because we operate in a niche — we’re not all things to all people — our team members have a very specialized skill set: logistics operations experience + transportation technology + communication and problem-solving skills + a bunch of other cool stuff.
January 25, 2022
2021 Year in Review with Peter Rentschler
What's new with P-Mutt and Bain? Baby Jack was exposed to Covid! But don’t worry, he's been tested since and he’s negative. Phew! Bain totaled 2155, the largest drug tested total in the world in 2021! Hence why he is known as the strongest man in logistics! And in this episode, our hosts chat with a very special guest CarrierDirect CEO Peter Rentschler. Together they reflect on learnings from 2021 and what we’re excited about for 2022. It's the last episode of 2021, and we're excited to jump back in next year. Show Notes How did Peter get involved with CarrierDirect? Peter is from Detroit and he graduated from Indiana State where he studied computer science. He started his consulting career at Accenture, then he came to CarrierDirect in 2015 with the KJ McMasters who now runs Talent Solvers. It wasn’t long after Peter started here that Jett essentially threw him the keys and said “Turn off the lights when you leave.” What does he make it a point to do every single day? Peter makes a point to stretch every day! He’s a big believer in the mind-body connection and he appreciates starting his day with the meditative quality of stretching. What are the big takeaways from 2021 and what things do you feel will continue into 2022 and beyond? Anything can happen. Businesses that will in the future are ones that are flexible and dynamic. Expect the unexpected. How have you architectured your business and your systems to be dynamic and able to adapt to market conditions? This will be important as we move into 2022. How you treat people matters. The pandemic has created employee mobility. If you run a logistics business in Chicago, you're not just competing against other logistics businesses in Chicago. Your talent is getting recruited by companies all over the country and potentially even the world. The spotlight on supply chain and logistics has been valuable for us, and this spotlight will continue into the new year. Importance and value of investment in technology and continuous improvement. Flexibility and being dynamic: These are ongoing themes from 2021 and will last into 2022. There has been a ton of activity in terms of M&A over the past year, what transactions do you feel are most impactful to the industry as a whole? TI acquiring SwanLeap ArcBest acquiring MoLo Uber Freight acquiring Transplace Additional Highlights CarrierDirect has been and will continue to be intentional about: What are our customers talking about What do we see as the trends in the space How can we position ourselves to serve those For example: With M&A being so important, we've increased our M&A work. Also, we heard so many companies expressing that integrations were a big pain point for them. This led to our development of Socket. Last but not least, Peter ends with a motivational note about happiness. He is a big believer in the idea that it takes energy to be happy. Devote time to your hobbies and take the time to take an inventory of the things that you are thankful for. Happy New Year everyone! See you in 2022!
December 27, 2021
Episode 6: Collaborative Performance Management with John Stauffer | The Extra Mile Podcast by CarrierDirect
This episode P-Mutt chats with former colleague and close friend, John Stauffer, Co-Founder & COO at Isometric Technologies (ISO). Bain is off this time, but will be back with us next episode. We’re recording this on Friday, Nov 19th... just around the corner from Thanksgiving week! Give us a listen on the way to your family festivities. Housekeeping: Did you see us at FreightWaves F3 Virtual Experience? Catch anything you missed here. And congratulations again to the whole CarrierDirect team for making the FreightTech 25! And now for our special guest... John Stauffer! John and Adam have previously worked together for 10+ years. They worked together at Echo and Uber Freight, they’ve partied together in Vegas, been on the same bowling team, built Echo’s carrier network in the Southeast and Canada. So many things! John has a ton of experience operationally as well as product management, and is currently the Co-Founder and COO at ISO. Today P-Mutt and John Stauffer chat about improving the workflow process involved in scorecarding and auditing to create a better customer experience. Seeing the scorecard process from a different altitude As John advanced in his freight career, he got to see the same issue from a different viewpoint. The main KPI was efficiency: Loads per head per day. John discovered that people were spending an outsized amount of time on this data reconciliation process - scrubbing scorecards. Service is a differentiator in transportation & logistics Better service brings a larger award and/or access to more spot opportunities or mini bids. Account managers saw value in auditing because that’s where they found opportunities to improve service. They were also spending a lot of time scrubbing data to accomplish this. A light bulb went on when they saw the monetary penalties connected to shipper performance and how scorecarding and auditing could help reduce costs. The new challenge became figuring out how to improve this process. ISO addresses workflow problems ISO pulls data sources from different systems, aggregates those, factors in SLAs, and applies those when processing transportation and order info. Thus, when creating those scorecards they are able to understand what the impact of a late delivery was and tie that back to the shipment. Ultimately, then the root cause of that failure point can be identified. Penalties can then be attributed to the responsible party. Collaborative Performance Management Collaborative Performance Management is the concept that streamlines all the workflows. It should be on your radar because there is value to aligning with your carriers on performance. Collaborative Performance Management removes friction from relationships. It helps shippers strengthen partnerships with existing carriers and helps shippers understand how to become a shipper of choice. Interested in working at ISO? Check out their careers page here or email them at email@example.com. Interested in incorporating ISO into your business? Reach out via email at Hello@iso.io or find John Stauffer on LinkedIn here.
November 23, 2021
API Integrations in Freight with Sean Kelly
Congratulations to P-Mutt and his wife on their four year wedding anniversary! Congratulations to Bain’s son Austin on getting into his first choice college with scholarship! And, shoutout to all the awesome events CarrierDirect is participating in and hosting at this week's FreightWaves F3 Virtual Experience. In this episode, our hosts chat with CarrierDirect’s Director of Product, Sean Kelly about API Integrations in Freight. Leveraging APIs enables you to: Increase connectivity with your customers, partners, and vendors Increase productivity Increase automation However, many freight companies struggle finding time to: Prioritize APIs Integrate with them Make sure the upstream and downstream workflows are all in place to make it all work well What are some use cases for API integrations in freight? You might want to integrate rating data to compare to your rate quotes You might need to deliver tracking information data back to a third party visibility platform You might be a freight broker trying to get more loads, so you want to integrate with one of your key shippers’ TMSs. Learn more about the challenges freight faces in leveraging APIs here. Read more about the evolution of APIs in freight here. Takeaways An integration is only as good as the data that goes into it. Integration not only makes the user's life better, but it can make all of us more productive, efficient, and sustainable as we move forward to the next generation of technology and supply chain. The freight industry can benefit greatly from more players leveraging APIs, but managing this work in-house is time-consuming, expensive, and detracts your engineers from working on tech that differentiates you. This is why CarrierDirect created Socket... Interested? Have questions? Contact Sean at firstname.lastname@example.org. Or sign up to be a Socket Early Adopter here!
November 10, 2021
FreightTech Strategy with Guest: Joe Juhnke
Episode 4: FreightTech Strategy with Guest: Joe Juhnke | The Extra Mile Podcast by CarrierDirect In this episode,Bain & P-Mutt chat with Joe Juhnke about Tech Strategy in freight, transportation, logistics. FreightTech is not one size fits all: You need to know your business and what differentiates you. Joe discusses the Benefits of having a Central Data Repository You can start to work with BI. You can start to pull workflows off your TMS and begin to build them out in a way the allows you to replace what isn't great about your package and customize what you need. Learn more in this blog post by Joe about the star schema structure. Integrations in Freight and Network Building We have a convergence of data in transportation & logistics. Companies have stopped building firewalls: They are accepting that we’re all going to be connected eventually. This is exciting because the companies that are returning real-time rate quotes are getting the bids. Users are making the easy choice. This is a huge shift for our industry. Many companies don't have dynamic rating programs yet, and hyper-dynamic pricing is going to be a game changer. TMS providers and other data providers are providing open APIs. This is a huge opportunity! Integrations in freight have their challenges, but there are solutions. Buy vs Build Buy what you can and build what will differentiate you. Download our free buy vs build guide for freight by clicking here. What is Tech Strategy in Freight? It's roadmapping, it's vision, it’s tech deployment. It’s starting to understand your differentiators. Change management and training orbit tech strategy. Tech strategy is not one size fits all. Tech strategy for a company that specializes in flatbed brokering is going to be different from a business doing dry van or liquids or reefers. For reefers, we need real-time temperatures. For example, a distributed ledger that allows us to certify the temperature throughout transit. Flatbeds don't care about temperature, but flatbeds are highly customizable. Imagine real-time rate quotes for a flat bed. One part of tech strategy in freight is figuring out how to get faster and more nimble. No tech strategy should be a single, large decision. You should have milestones and a north star, but you should be agile in working toward these. Take small, measurable steps! For example, build a low cost item like a workflow or an application, then measure its performance against your baseline. What you learn from this will inform your next cycle. This feedback loop is small iterations. Essentially you should be reevaluating your plan annually. You want to be making progress toward your north star, but you also want to be nimble enough to pivot when you need to. Every company should take a moment to ask themselves: What is our tolerance for change? What is our fear of change?
October 25, 2021
Freight Industry Trends
Freight Industry Trends 2021 - 2022 | The Extra Mile Podcast by CarrierDirect In this episode, our hosts chat about transportation & logistics market trends... Bain & P-Mutt weigh in on The Talent War in Freight In addition to the great resignation, we see an increasingly competitive market to attract and retain talent. Employers and employees experienced a lot during the pandemic, and the companies who truly used this time as a learning experience will come out ahead. Companies that are eager to get back to the way things work are setting themselves up for disappointment. Namely in regard to allowing more flexible working conditions, for example working from home if at all possible. Other factors that impact a freight company's ability to improve employee retention are: Career Growth, Flexibility and PTO, Community Impact, Bonus Incentives, and Base Pay. Read more about The Talent War in Freight in this article by our CEO, Peter Rentschler. Bain & P-Mutt weigh in on #FreightTech: Automation Technology in transportation & logistics can be a game-changer for business when implemented and executed thoughtfully. Automation can and should be part of your overall tech strategy. Simplify what you can so that team members have more time and energy to devote to higher effort tasks. Bain & P-Mutt weigh in on Capacity Strategy Adam explains that you should be considering, "How do you source the best option versus the first option." Capacity strategy is more data-driven approach to sourcing and matching loads and carriers. Stay tuned for CarrierDirect's forthcoming ebook all about capacity strategy. Bain & P-Mutt weigh in on Transportation & Logistics Mergers & Acquisitions Service offerings and personnel are two big things to consider in M&A. Real success comes with the execution. Are the companies able to integrate smoothly? Engaging in a merger or acquisition is the quickest way to expand and diversify operations. Prediction: M&A is not likely to slow down anytime soon!
October 13, 2021
Growth Inhibitors & Accelerators in Freight
Bain and P-Mutt discuss some of the biggest growth blockers and growth accelerators for freight businesses. When done well, your freight tech strategy, training, and future state visioning are valuable growth accelerators. On the flip side, if executed poorly, these same things can inhibit your growth. When it comes to future state visioning, it's important to take time to really consider for your business: who do you want to be when you grow up? Set the vision and let everyone in on it! Your go-to-market strategy will support this vision and your company and individual goals should track to this as well.
September 27, 2021
Why Logistics Matters
In this first official episode, Bain and Ryan chat about why logistics matters and the intersection of consulting and logistics. Show Notes Bain and Ryan discuss Uber Freight's acquisition of Transplace Managed transportation is sticky. Customers don’t churn very much. It has a lower margin but it’s predictable business. With this acquisition, it’s now something Uber doesn't have to go out and build itself. The integration of these two businesses' tech and people will be key to their future success. Bain predicts we haven’t seen the last of these big M&A deals. The Intersection of Logistics and Consulting When does it make sense to bring in experts for different projects? You have to consider both sides: We start by discussing when it's NOT a good idea to hire a consulting firm to help your freight business. It starts with openness and curiosity. If you think you have it all figured out, it doesn’t make sense to bring in outside help. It’s not going to be a happy working relationship for anybody if you think you have all the answers. Even if you recognize things could be different and better, but you just want an easy button, that’s also a mindset that won’t work well with outside experts. You have to be open and curious, and you also have to be part of the process. The clients who understand that their business could be better than it is today, but they’re not really sure where or why. They usually have a hypothesis, but they want help figuring it out. Another great example of when it is beneficial to bring in outside experts is if you have an idea for the future of your business and you need help codifying it and then implementing it. Whether that’s a technology idea, an operating model idea, what have you, those are really the situations where it makes a difference to have people come in and help you with your business. Additional Highlights Bain shares a helpful analogy where he compares the small things in logistics to the small things in weightlifting: Little things that matter and make a difference when you add them all up. Logistics is complicated. One of the main things missing in transportation and logistics is predictability.
September 13, 2021
Meet the Hosts: Adam | The Extra Mile Podcast by CarrierDirect
In this clip, Adam introduces himself, shares about his freight background, his family, and why he's starting this podcast with Bain.
September 02, 2021
Meet the Hosts: Bain | The Extra Mile Podcast by CarrierDirect
In this clip, Bain introduces himself, shares about his freight background, his family, and what he wants this podcast to make you, the listener, think about. Your business, tech, growth, training, and more.
August 31, 2021
Introducing... The Extra Mile Podcast by CarrierDirect
Robert Bain, Consultant at CarrierDirect, introduces The Extra Mile Podcast by CarrierDirect! We’re starting this podcast to dive into all things supply chain, transportation and logistics. What’s a TMS? Why are technologies going to change the game? Who are the movers and shakers in the industry? Why should you bring in experts or new talent and when should you do it? We’re gonna talk about these topics and so many more on the most exciting logistics show out there: The Extra Mile Podcast!
August 24, 2021