This fireside chat recap is from Day 4 of FreightWaves’ Global Supply Chain Week.
FIRESIDE CHAT TOPIC: How automotive suppliers have addressed supply chain constraints.
DETAILS: FreightWaves analyst Tony Mulvey chats with Rak-Joon Choi about how the automotive industry, from OEMs to aftermarket equipment manufacturers, has faced significant disruptions while undergoing a new wave of technological advancements.
SPEAKER: Choi is the vice president of business development and strategic partners at Torqata.
BIO: Before joining Torqata, which is a wholly owned subsidiary of American Tire Distributors, Choi worked at IBM for nearly 10 years. Choi has experience with software business development, product management, strategy and blockchain.
KEY QUOTES FROM CHOI:
“Visibility is becoming key. Being able to see upstream on supply plans as well as coordinating downstream logistics have all become a very, very big issue, and whoever has better visibility will be able to respond faster and plan against it so that the disruptions coming from these events will be minimized to keep the business thriving.”
“If you look at the winners of COVID, those are everybody who had the foresight to say, ‘This is probably how my supply chain will be disrupted and here’s what my data shows me and this is how I plan to respond to those things.’”
“We’re figuring out more ways to build sustainability transparency into the ecosystem. Addressing those issues also comes hand in hand with business performance. Let’s say we’re making our routes more efficient. That will reduce our logistics costs, that will be good for the business, but also reduce the amount of truckloads of shipments that need to happen. So that will reduce carbon emissions as well.”