This past year underscored the need for reliable carriers amid unprecedented supply chain challenges. In a year where we saw significant service disruptions, asset-based carriers should continue to find ways to add value to the shipping process. That need for added value can be met with investment in digital transformation, capacity, and a demonstration of shipping expertise.
Digital transformation has become a significant priority because of the rapid rise of e-commerce, further compounded by the impacts of the pandemic. We live in an on-demand economy where businesses want to know where their product is and when it will arrive. Investments in technology, such as track and trace capabilities, present an opportunity to differentiate carriers. Shippers increasingly need a complete understanding and visibility over their supply chain as we have seen a shift to a just-in-time inventory model, more freight requiring an appointment, and dynamic in-transit upgrades or changes.
But with investments in digital transformation must come investments in capacity. As we saw in 2020, carriers must be flexible and responsive to prevent serious roadblocks within the supply chain. At Old Dominion Freight Line (OD), we regularly invest in our service center network, our fleet, and our people. Having sufficient capacity allows us to grow with our customers and continue providing the quality service experience to which they have grown accustomed when shipping with OD.
Finally, knowledge is power, and it is critical to be a trusted advisor to shippers as they navigate the increasing complexity of their supply chain.