Key Insights & Trends from the 2024 Descartes Innovation Forum for Transportation Management

The 2024 Descartes Innovation Forum for Transportation Management took place in Chicago, IL, bringing together industry leaders, technology experts, and supply chain professionals to explore the latest innovations shaping the future of transportation.

This signature event focused on emerging trends, cutting-edge technologies, and best practices that are transforming the industry. With a strong emphasis on collaboration and knowledge-sharing, the forum offered attendees valuable insights into how companies can leverage Descartes’ solutions to stay ahead in a rapidly evolving market.

We’ll highlight the key takeaways from the event, including speeches, product innovations, customer success stories, and actionable insights for supply chain leaders.

The keynote session of the 2024 Descartes Innovation Forum for Transportation Management focused on the state of transportation and the key trends that are reshaping the industry.

Key Takeaways:

1. Market Conditions: The transportation industry is still facing a bit of a freight recession, but there are positive signs of recovery. Demand is stabilizing with the return of seasonality, although overcapacity continues to push rates down. A normalization in capacity is expected by 2025.

"The transportation industry has faced significant disruption, but demand is stabilizing, and we're seeing signs of recovery. Doug Waggoner, CEO of Echo Global Logistics, emphasized that while capacity has been oversupplied, the market is expected to balance out within the next few years. 'Demand is pretty stable, capacity’s been oversupplied, but capacity is coming out. I look towards 2025 as being a more normal year,' Waggoner noted."

2. Technology’s Role: The panelists emphasized that articifical intelligence (AI) and automation are critical to improving efficiency in transportation, from automating routine tasks like rate quoting to combating freight fraud. The use of AI was seen as crucial to staying competitive in the evolving market.
3. Freight Fraud and Cybersecurity: Freight fraud and cyberattacks are growing concerns in the industry. Measures such as enhanced carrier vetting and onboarding through the recent acquisition of Descartes MyCarrierPortal were discussed in order to help to verify carriers, monitor insurance, prevent fraud, and mitigate risk.
4. Nearshoring Trends: With production moving from China to Mexico, transportation networks will need to adjust to the shift. While this change presents logistical challenges, it also opens up new opportunities for growth, particularly in Mexico’s transportation infrastructure.
5. Sustainability: While major players like Walmart and Home Depot prioritize sustainability, many shippers are more focused on cost and service, with environmental concerns often taking a back seat.

The overall message from this session was clear: embracing technology and proactive collaboration will be essential for overcoming the challenges facing the industry, particularly in light of changing freight patterns and future capacity concerns.

The Descartes TM Vision session focused on the company’s ongoing efforts to optimize supply chain and logistics operations through product innovation with a strong emphasis on customer feedback.

Key Themes:

1. Strategic Focus on Product Development: Descartes is heavily investing in research and development to enhance its existing platforms and introduce next-generation capabilities. The goal is to continue to expand the unified logistics platform that integrates multiple vendors across various transportation modes, from international shipping to final-mile delivery.
2. Customer-Centric Approach: Descartes is dedicated to aligning its product development with customer feedback. Insights from platforms like the Aha ideas portal and G2 are crucial in shaping the company’s product roadmap, and continuous dialogue between customers and Descartes teams ensures that product enhancements meet business needs.
3. Real-World Applications: The session also discussed practical business applications, such as improving transportation mode optimization, automating processes, and increasing supply chain visibility through integrated systems.
4. Innovation through AI and Predictive Analytics: Descartes is incorporating AI to improve decision-making, automate routine tasks, and provide better predictive insights across supply chains. Enhanced data security and fraud prevention are also top priorities in this area.
5. Training and Education: We are expanding our customer education initiatives, providing more in-app training and real-time learning resources to ensure users maximize the platform’s value.

The Descartes MacroPoint Customer Session highlighted the importance of real-time visibility and connectivity within transportation networks. The  platform is widely used for real-time tracking, and this session explored its adoption across various modes of transportation, from full truckload (FTL) to less-than-truckload (LTL) and ocean.

Key Takeaways:

1. Improved Ocean, Air, and Rail Tracking: Descartes MacroPoint is crucial for providing real-time tracking, especially for freight visibility, and is enhancing capabilities in other transportation modes such as air, rail, and ocean. 
2. Data Utilization and Scorecards: Companies are leveraging analytics to track performance, create carrier scorecards, and ensure compliance.
3. Future focus on Mexico/Near-Shoring: The session explored the expansion into new regions, particularly Mexico, and discussed the role of predictive analytics and AI in improving supply chain visibility.[
4. Best Practices for New Users: Panelists advised new users to align real-time visibility efforts with business goals and make it a core part of their carrier-onboarding processes.

"As part of Descartes' continuous efforts to improve the customer experience, a major highlight of the roadmap is the newly redesigned Descartes MacroPoint user interface. Bob Derin, Director of Product Management at Descartes, remarked, 'We’ve invested heavily in making our system more intuitive and customizable to ensure our customers get the most out of their tracking experience.'"

The Descartes Aljex Customer Panel focused on how the platform supports brokers, 3PLs, and asset-based carriers in streamlining their operations.

Key Themes:

1. Comprehensive Usage: Panelists highlighted Descartes Aljex as their core operational system, essential for load management and customer transactions. The system integrates with other tools, such as Descartes MacroPoint for real-time tracking and MyCarrierPortal for carrier on-boarding, fraud prevention, and insurance monitoring.
2. Flexibility and Customization: Flexibility allows companies to configure the platform to suit their operational needs. This has been key for companies managing diverse transportation modes and global operations.
3. Efficiency and Automation: The platform automates repetitive tasks and provides a self-service portal for customers, helping companies reduce their administrative burden.
4. Challenges and Opportunities: Panelists mentioned the need for enhanced workflow management and further integration with third-party vendors to support more complex operational requirements.

The transportation industry is constantly evolving.

While it's difficult to predict the future with certainty, industry leaders are confident that the trends discussed at the forum, such as AI, automation, and real-time visibility, will continue to play a significant role in shaping the industry.

Doug Waggoner, CEO of Echo Global Logistics, captured the forward-looking sentiment when he said,

"Prediction is hard, especially when it’s about the future, but ignorance is not a strategy either. We must understand the trends and make educated guesses to plan effectively."

Looking ahead, there’s an optimistic outlook as the industry moves toward greater technological integration, addressing current challenges such as overcapacity, fraud prevention, and cybersecurity.

Companies are focusing on proactive solutions, leveraging data and analytics to improve efficiency, reduce costs, and enhance overall visibility across supply chains. The future promises continued innovation, collaboration, and the embracing of new technologies to navigate this ever-changing landscape. Conclusion

The 2024 Descartes Innovation Forum for Transportation Management showcased the company’s commitment to leveraging technology to solve complex logistics challenges.

From real-time visibility through Descartes MacroPoint through flexible solutions like Descartes Aljex, to our newest addition of MyCarrierPortal, we continue to drive innovation by focusing on customer needs and the evolving demands of the transportation industry.

The event emphasized the importance of industry collaboration, the integration of AI, and the need for proactive planning in an industry that is rapidly transforming.

INDUSTRY WHITEPAPER

---

2024 Global Transportation Management Benchmark Report

Descartes conducts annual benchmark research among global transportation professionals. The 2024 study reveals key industry trends, leading transportation management strategies, and future IT investment outlooks..

Download