Turning Downturns into Opportunities: A 2024 Supply Chain Perspective

FreightWaves LIVE: An Events Podcast

Summary

Join us for a riveting keynote at the Domestic Supply Chain Summit where Thomas Wasson interviews Jared Weisfeld, the Chief Strategy Officer at RXO. They delve into the future of the supply chain industry, discussing the outlook for 2024, inventory positions, consumer health, capacity exits, the shift from goods to services, nearshoring trends, and the significance of strategic planning and execution in the industry.

Key Highlights

- Inventory positions for retail and e-commerce customers, a concern in 2023, have shown improvement as we head into 2024.

- The health of consumers and the shift in the mix between goods and services were significant factors impacting the supply chain in 2023.

- The rate of carrier attrition and capacity exits continue to be critical considerations for the freight economy.

- Nearshoring is emerging as a long-term trend with potential positive impacts on the US freight economy.

- Investments in technology and fostering strong customer relationships are pivotal strategies for success in the supply chain industry.

- Leading indicators such as load-to-truck ratios, tender rejection rates, and carrier capacity exits are key to predicting market trends.

Guests

Jared Weisfeld serves as the Chief Strategy Officer at RXO. With a rich background in the technology sector, Jared joined the company in 2023. He is responsible for steering the strategic direction of the company and has played a crucial role in harnessing technology to enhance operations.

Resources

- rxo.com

Action Steps

- Stay informed about the state of the supply chain by monitoring inventory positions and consumer health.

- Evaluate the potential benefits of nearshoring for your business and explore growth opportunities in this area.

- Invest in technology to boost efficiency and service in the supply chain industry.

- Maintain robust relationships with customers and adapt to their evolving needs.

- Keep an eye on leading indicators such as load-to-truck ratios, tender rejection rates, and carrier capacity exits to anticipate market trends.

Listener Challenge

Seize the opportunity to strategically invest in your business and deepen your connection with customers during market downturns.

Next Steps

To learn more about RXO and how they can bolster your business in the supply chain industry, visit rxo.com.

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