On this week’s episode of Check Call, JP Wiggins, chief commercial officer at 3G, joins host Mary O’Connell to dive into market corrections, the benefits of a good TMS and being a resource to customers.
Key quotes from Wiggins:
“I think we need to prepare ourselves for the swings, you know, because these swings that we’re going to see will become much more frequent and much more aggressive. I mean, just a few months ago, we got excess capacity off-the-chart volumes, and now we’re [looking at] the opposite. There is no new normal, and … as logistics professionals, we’re just going to have to be ready for more swings.”
“Most [economic] indicators are gonna be too laggy you know. We’re talking about recession now. You know? We already knew this. We knew this months ago when we were shipping less freight. It’s a day-to-day kind of thing and everyone’s situation is going to be different. I think indicators are going to tell us what we already know and as logistics professionals, especially in transportation, you plan for that uncertainty. I think that’s what we started focusing on.”
“We’re all gonna still try to grow our business. Look at your business. Look at what you do. Well, look at how to expand your business. Learning how to take care of your customers. Expand business with your current customers is the best thing you can possibly do to become best in class with customers.”
“Right now, let’s look into trying to get a forecast of what you’re going to do in October or November because if you’ve got a lot of freight that is sitting in LA and it needs to be sitting in Chicago, that’s the type of stuff that you can approximate and perhaps forecast for now.”
“If you think about it, during the supply chain crunch last year, that’s actually what caused this supply chain capacity crunch was people have an inventory in the wrong locations, more than the shortage is from Asia. People shifted inventory where they would bring inventory into a geographic region and then it goes to the final customer. But then you had a situation where inventory needs to swap two or three different places because people didn’t purchase correctly.”
Got any pain points or things you wish were better in the supply chain and the world of transportation? Contact O’Connell to be on a future episode of Check Call.