On this episode of stackd, FreightWaves’ Adam Robinson took on a hot topic in the freight world: risk mitigation. Being able to avoid risky situations can be essential for building trust with clients and Robinson discussed that with Eytan Buchman, chief marketing officer at Freightos.
As content creators, there is way less volatility in the industry than people who are working directly in the management of freight forwarding. To navigate that volatility, people turn to tech, but Robinson said technology itself is not the quick fix to trade issues. Knowing what tech to use and where to use it is the key.
Buchman said the content creation aspect of freight is very fluid and flexible to change as the industry changes, but business changes are not so quick to adapt. Having the right stack of technology to use when a business needs to identify industry changes is the overarching goal of FreightTech companies.
He said freight indexes are the perfect example of tech necessity; companies need to have a good gauge of raw data, whether it be pricing or rejections or even weather. However, that data needs to be digestible and in a format that is relevant for a company to utilize it well.
“Companies like Freightos and SONAR are trying to get the most complete datasets that we can to provide that precision,” said Robinson, whether that data be historical, real-time national or global data from cooperating companies.
Robinson said the true value of data and tech comes from real-life use cases like solving freight backups or reducing costs.
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