OCTOBER 20238 logisticstechoutlook.comLOGISTICS TECH STARTUPS KEY TO SOLVING INDUSTRY CHALLENGESThe logistics sector is the backbone of the global economy. When businesses can't reliably and efficiently move products from point A to point B, they suffer from cascading effects of delays, rising costs, inventory issues, and upset customers. While COVID-19 has been the primary concern of late, supply chains have also been struggling with challenges brought on by the war in Ukraine, inflation, and labor shortages. Simultaneously, there is more pressure on operators to embrace environmental sustainability. Add in long-term demand drivers such as the rise of e-commerce, businesses of all types are forced to pay closer attention to their supply chains and seek out new solutions in the form of innovative technology. It's hardly surprising that the global logistics industry is expected to grow at a rate of 17.1 percent annually from 2023 to 2030, according to research by Facts & Factors.Here are some of the overarching approaches and specific technologies that are helping corporations navigate a dynamic environment and operate as efficiently as possible.Freight TechnologiesTechnology is being adapted across dock and yard management systems to help combat congestion and manage the sheer volume of product being moved in and out of warehouses. Here are two companies I have observed making a difference: Conduit: Features an automated truck schedule, remote dock assignment and check ins/check outs, and allows rescheduling based on real-time ETAs. Conduit integrates itself with shipping transportation and warehouse management systems on top of carrier and broker systems. This removes a headache for warehouse workers by eliminating the need to start from scratch. Truck driver turnover is a pain point for a majority of companies - an issue that has become more worrisome during labor shortage. Investments in autonomous truck technology reflect the urgency to have a full fleet; such investments currently make up 40 percent of VC investments in the freight tech segment. Kodiak: Kodiak is a technology stack designed and tested for autonomous truck driving. Featuring advanced camera technology and a unique mapping approach, Kodiak aims to assist with driver shortages and make fleets more efficient by supplementing drivers who are limited by drive-time regulations.Loading/Unloading/DevanningTechnology is beginning to play a large role in a time-consuming and physically demanding process. Among the companies I have seen addressing this challenge are Fox Robotics and Pickle.IN MY OPINIONBy Max Brickman, Founder, Heartland Ventures
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