This fireside chat recap is from Day 1 of FreightWaves LIVE @HOME.
FIRESIDE CHAT TOPIC: LPaaS as the future of FreightTech
DETAILS: FreightWaves’ President, George Abernathy, and Mark Yeager chat about the future of FreightTech and how Logistics Platform as a Service (LPaaS) can help shippers overcome integration challenges. (See below for more on Redwood Logistics’ new service.)
SPEAKER: Yeager is the CEO at Redwood Logistics.
BIO: Yeager has more than 25 years of experience in transportation and logistics. In addition to working as Redwood’s CEO, he works with CI Capital Partners and Simplified. Yeager served in a variety of roles at Hub Group Inc. throughout his 23 years at the company.
KEY QUOTES FROM YEAGER
“LPaaS is much more than a tech strategy. It’s really a new operating model for us. Think about it as bridging the gap between logistics, execution and technology using some proprietary tools, especially RedwoodConnect, our no-code integration platform, to leverage an open ecosystem.”
“Not all of the great ideas are coming from the large TMS providers or the larger 3PLs. There’s a lot of emerging concepts, ideas, technologies and datasets that are out there that can really help our shippers effectively manage their supply chain. The problem is, historically they have been prevented from being able to really access that.”
“What LPaaS does is it enables shippers to get beyond those limitations and really develop a highly customized solution that meets their needs in an affordable and scalable way.”
Redwood Logistics launches open platform LPaaS
By Grace Sharkey
Chicago-based Redwood Logistics on Wednesday launched Logistics Platform as a Service (LPaaS) to enable shippers to create their own unique technology platform for their logistics services.
Mark Yeager, chief product officer at Redwood Logistics, explained that shippers are beginning to realize the importance of having a technology platform that allows them to change and improve quickly with the unforeseen problems and new solutions within their supply chain.
“Historically [our shippers] have been unable to integrate, whether it was a technology or a new partner, in an effective way,” said Yeager. “What LPaaS does is enable shippers to get beyond those limitations and really develop a highly customized solution that meets their needs in an affordable and scalable way.”
Many shippers and carriers are investing into different technology to build an operational efficient supply chain. Yeager described how Redwood customers can use LPaaS to plan their technology transformations that can be more complex than they initially thought.
“A customer might want to implement a new TMS (transportation management system) and then they quickly realize they might have to integrate with an ERP (enterprise resource planning) system,” explained Yeager. “From there, they realize their TMS might serve most of their needs but it does not necessarily get everything done that they want. … They can use LPaaS, in this case specifically RedwoodConnect, to integrate with those technology applications.”