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I spent the past few days in Philadelphia at a logistics technology conference. Philly is the city of Rocky, the underdog boxer who gets to challenge the champion and ends up winning the hearts of the crowd. At the same conference, I talked to Omar Singh, CEO and founder of Surge Transportation, who pulled off a feat never seen before. In an industry faced with a recession where thousands of brokers and carriers have disappeared; the resurgence of Surge Transportation offers a bright light at the end of a seemingly never-ending tunnel.
In the heart of the 2023 freight recession, the once-promising digital freight brokerage, Surge Transportation, found itself on the ropes, facing the daunting specter of bankruptcy. It was a classic underdog story, much like the iconic tale of Rocky Balboa, but this time, the arena was the volatile freight market, and the contender was CEO Omar Singh, a man with a passion for logistics and a fighter’s spirit.
Like Rocky’s early setbacks, Surge’s troubles were multifaceted. A confluence of factors, including a sharp decline in freight volumes, escalating fuel costs and intense competition, had left the company reeling. The once-vibrant startup was hemorrhaging cash, burdened by debt and struggling to retain its customer base.
However, Singh, a former amateur boxer himself, refused to throw in the towel. Drawing inspiration from Rocky’s relentless determination, he rallied his team, instilled a fighting spirit within the organization, and embarked on a strategic turnaround plan.
First, Singh focused on rightsizing the company, streamlining operations and reducing costs. This involved making difficult decisions, such as layoffs and downsizing, but it was necessary to stop the bleeding and ensure the company’s survival. Next, Surge reevaluated its core business model, focusing on its strengths and differentiating factors. The company doubled down on its technology platform, which utilized AI and machine learning to optimize freight matching, pricing and routing. This technological edge allowed Surge to offer competitive rates and improved service levels, attracting new customers and retaining existing ones.
Singh also recognized the importance of building strong relationships with carriers. He implemented a carrier-centric approach, offering fair rates, prompt payments and consistent communication. More recently he introduced a profit-sharing plan with the carriers to help the carriers most impacted recuperate some losses endured during the bankruptcy. This helps Surge secure reliable capacity, even during challenging market conditions, and build a loyal network of carrier partners.
Just as Rocky’s intense training regimen paid off in the ring, Surge’s strategic adjustments started to bear fruit. The company emerged from bankruptcy in July 2024, leaner, stronger and more resilient. The freight recession, while undoubtedly painful, had served as a crucible, forging a tougher, more adaptable organization.
Today, Surge Transportation is not only surviving but starting to thrive again. It is regaining its footing in the market, expanding its customer base and even launching new services, as well as attracting new investment. The company’s technology platform is continuously evolving, incorporating cutting-edge innovations to stay ahead of the curve.
Singh’s leadership throughout this ordeal has been nothing short of inspiring. He embodies the spirit of the underdog, the fighter who refuses to quit, even when the odds seem insurmountable. His unwavering belief in his team, his company and his vision has been the driving force behind Surge’s remarkable turnaround.
The story of Surge Transportation is a testament to the resilience and determination of the human spirit. It’s a reminder that even in the face of adversity, there’s always a chance for a comeback. Just like Rocky Balboa, Surge faced its challenges head-on, learned from its mistakes and emerged from the battle stronger than ever. And Omar Singh didn’t do it alone. He had a strong team in his corner, plus support from his shipper customers and carrier partners as well as the support of TriumphPay, which financed the restructuring of the company. It is an incredible tale of not just determination, but also of industry collaboration.
In the ever-evolving world of logistics, where disruptions and uncertainties are the norm, Surge’s story offers valuable lessons for other companies. It demonstrates the importance of adaptability, innovation and a fighting spirit in navigating turbulent times. Most importantly, it reminds us that even the most daunting challenges can be overcome with the right mindset and the unwavering determination to succeed.
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About the author
Bart De Muynck is an industry thought leader with over 30 years of supply chain and logistics experience. He has worked for major international companies, including EY, GE Capital, Penske Logistics and PepsiCo, as well as several tech companies. He also spent eight years as a vice president of research at Gartner and, most recently, served as chief industry officer at project44. He is a member of the Forbes Technology Council and CSCMP’s Executive Inner Circle.