The upcoming year is likely to bring similar challenges to what we’ve experienced in recent years: significant swings in the global marketplace and the need to pivot quickly.
Experience tells us to expect the unexpected and be ready to tackle challenges before they become crises.
How do we prepare? As the ups and downs of international trade become more dramatic, data analytics that allow us to see around corners are no longer just a competitive advantage, but a necessity. These insights help us anticipate, act strategically, and adjust as needed to keep supply chains fluid and the economy working for everyone.
We must also push forward with infrastructure improvements that make our supply chain more resilient, particularly projects that allow us to adapt, use space more efficiently, and optimize equipment and resource utilization. Federal funding for Los Angeles and other US ports to accelerate consequential terminal, roadway, and rail projects is finally becoming available.
The state of California has put real money on the table to advance port and freight infrastructure projects. In addition, the state has dedicated funding for a workforce training campus to reskill and upskill our current labor force, as well as developing the workforce of the future. Development of more career paths must be part of the equation to maintain and grow our industry over the long term.
All of this needs to done with sustainability efforts at the forefront. Our industry needs to chart a path to decarbonize maritime goods movement. Achieving our goals will require creative partnerships such as the LA-Shanghai Green Shipping Corridor, a collaboration with the Port of Shanghai, our industry partners, and the C40 Cities.
Better data, modern infrastructure, good jobs, and sustainability are the backbone of everything we do with ships, trains, and trucks to move goods around the globe. Collaboration is the connective force that will ensure all links in the supply chain can flex and scale quickly to meet the challenges ahead.