Gartner Supply Chain Symposium 2023: Key Takeaways for Supply Chain Leaders
That’s a wrap on the 2023 Gartner Supply Chain Symposium!
Trax attended, networked, and hosted a customer appreciation event at The Gartner Supply Chain Symposium – the world’s most important gathering of CSCOs and supply chain executives. Through thought leadership sessions, expert-led keynotes, and networking opportunities, supply chain, transportation, technology, and logistics leaders came together in Orlando to discuss the industry's most pressing challenges and latest innovations.
Whether you attended the event or couldn’t make it, we’ve got you covered. We're breaking down the biggest highlights of the Gartner Supply Chain Symposium, including the most talked-about topics and what's trending in the freight audit and payment market.
Sustainability is Not Dead
Supply chain sustainability has been all the rage for the better part of two years now. And recently, some have questioned if sustainable solutions are as much of a priority as they were even a few months ago. But, if you ask us (and many others who spoke or attended the symposium), supply chain sustainability is alive and well – and something supply chain leaders definitely shouldn’t sleep on.
Some quick supply chain sustainability facts:
- Carbon and greenhouse gas emissions have increased by over 16,300% in the last 170 years.
- Transportation makes up 27% of the world’s total emissions – the single most significant contributor.
- 90% of a company’s carbon emissions are from its supply chain.
As a result, solutions for a greener supply chain are in high demand. That’s why Trax created Carbon Emissions Manager, our latest innovation that tracks emissions across all modes, vehicles, and regions.
It's All About the Benjamins $
Cost control. Cost reduction. Cost savings. No matter how you phrase it, saving money is at the forefront of supply chain management. But, particularly in the short term, an inflationary economy and fears of a looming recession are causing enterprises to think twice about investing in new software.
That said, some transportation software is uniquely designed for cost savings and ROI. Consider freight audit and payment, for example. Our solutions counter an inflationary market by providing visibility to compliance variance by lane, carrier, and region to produce positive ROI within months. In fact, many of our customers save 8.5% on transportation costs within a year of implementation.
So, when enterprises are focused on conserving cash, partnering with a freight audit and payment provider will help them maximize efficiency and savings and see a quick return on investment.
Artificial Intelligence and Transportation: Now or Later?
Artificial intelligence is everywhere – including the supply chain. In fact, it seems like new advancements in the AI space take place every minute. With so much momentum, it’s hard to keep up. But what does this mean for the transportation industry, and how is AI being leveraged by supply chain professionals?
From manufacturing to delivery, extracting information, analyzing data, predicting demand and inventory, optimizing capacity, and managing vehicles and warehouses, the sky is the limit for AI in the supply chain. However, experts from Gartner and other technology and logistics leaders say it will be at least five years before it matures enough to have a material impact on the supply chain, citing data challenges and
Trax: Providing Innovative Freight Audit, Data Management, and Sustainability Solutions
Are you ready for more? We hope to see you at more shows this year – including CSCMP Edge this October in Orlando. Until then, our team looks forward to helping you achieve greater control and visibility of your transportation cost structures.
Request a consultation today to discover how Trax can help you optimize your transportation spend.
Trax is the global leader in Transportation Spend Management solutions. We partner with the most global and complex brands to drive meaningful optimizations and savings through industry-leading technology solutions and world-class advisory services. With the largest global footprint spanning North America, Latin America, Asia, and Europe, we enable our clients to have greater control over their transportation performance and spend. Our focus is on your success.