The Strategic Business Value Offered by a Carrier Marketplace Services, Part 2
The supply chain execution and logistics market has been transitioning to one that is supported by a broader range of networks.
We recently had two supply chain and technology veterans discuss how Blue Yonder is taking the meaning of carrier marketplaces to the next level for shippers and logistics services providers:
- Keith Whalen, Blue Yonder Vice President of Product Management for Transportation Management
- Andrew Brazell, Blue Yonder Global Lead of The Technology Partner Ecosystem
To watch the session, check out LinkedIn. I previously shared Part 1 of the conversation. Below is a recap of the second part of the conversation:
Terence: Keith, could you continue to let us know what other additional carrier network-related services are coming on the horizon?
Keith: We’re excited to be investing in a parcel solution that will support direct linkages to carriers for rate manifest and labeling types of signals and partner companies that customers may leverage for parcel needs across the execution space. The goal of our parcel capability will be to provide out-of-the-box access for external rates and signals and seamlessly integrate those expanded operations into Transportation Management System (TMS) workflows. We continue to see the parcel needs and other small package needs expand off the TMS for all miles of delivery, whether it’s inbound and outbound, or direct to consumer.
Terence: More broadly, Keith and Andrew, what do you see as the key areas for digital transformation in transportation in the next five years?
Keith: As we expand these network services across all aspects of transportation, from optimization to freight payment and all the signals and such from a centralized and modernized digital transportation experience, one of the key things is supporting our partners within these expanding digital ecosystems. Partners are the key to our success as we continue to provide these new services and modernize our capabilities.
Andrew: It is going to require a robust ecosystem of technologies and partners to automate the lifecycle of transportation, and Blue Yonder is building out the most comprehensive ecosystem for supply chain and commerce with our partner ecosystem to ultimately extended Blue Yonder’s solution and platform with new use cases and technologies. Additionally, Blue Yonder’s Luminate Platform will allow customers and partners to achieve the goal of autonomous supply chain.
The platform is going to provide the planning, execution, fulfillment, labor solutions that optimize the end-to-end supply chain. And this will leverage artificial intelligence (AI), machine learning (ML), and user-driven workflow experiences to predict, prevent, resolve disruption across the end-to-end supply chain. As we see with enterprise discoveries, it is truly a combination of our ecosystem and platform that will drive transformation going forward.
Terence: There is a question coming in from the audience: does AI have a major impact for marketplaces? If so, any features you can highlight? What is the competition like?
Keith: We’re seeing a lot of interest from many customers around ML. AI is going to have a major impact in terms of how we move forth with our product roadmap as a whole. Being able to blend these real-time signals coming in from different carrier marketplaces, customers would like to understand how things have actually executed versus what was initially planned, and then be able to start exhibiting some learnings on how things are actually executing in real-time to then take that back into the planning process.
For example, risk of delivery is a key area customers are interested in using ML around. Customers are interested in learnings about transit times and how those learnt transit times, deltas and changes can help influence how you plan better. Route adjustments is also a key area. As these digital transportation systems modernize, we are going to see plenty of opportunities comes to fruition.
Andrew: Customers in our ecosystem are also leveraging AI and ML algorithms for their pricing, to understand and predict where they will have capacity, where the demand will be, and then what the correct price to meet that demand should be within the market.
Terence: Thank you both for the lively and very informative discussion. When we have more development in this area and the ecosystem, we will invite you back to share more insights.
A key takeaway from the conversation is there is a major shift: companies are becoming comfortable in tapping into networks and platform business models to procure space, resources, freight capacity, and more, on an as-needed-basis. Carrier network related services are benefiting shippers and logistics service providers tremendously. To learn more visit BlueYonder.com.