The speed of information and new methods of communication are no longer evolving; they’re exploding. I don’t subscribe to the futurist bandwagon that relationships will be replaced by data exchanges through new technology. I do believe that to remain competitive in the next three to five, we must pay close attention to how interactions will change.
In 2018, look for core transformative technologies that you can explore with your current relationships. Many companies are seeking to create the next standard or the singular marketplace or platform to corner the industry. Find partners focused on being the best at something and creating real value. Invest time and some staff resources in separating the hype from the practical, as there will be plenty of both.
The source of the changes may come from some blockchain applications or some newer derivative such as Hyper Graph or the next cool tech out of Silicon Valley. The important point is the logistics industry is ready to morph into a new-higher-speed-data-driven-event triggered-live pricing world that still has several years to weed out what is cool and what delivers real value.
In 2018, work with your good trading partners and customers to explore different solutions with proof of concept and small-scale tests. Make the investment this year to dedicate a small team with the knowledge that there will be no return on investment in the next 12 months. This will keep your business on the leading edge and well-positioned to adopt the changes as clear winners emerge. Create a culture of innovation, and lead your customers into more profitable operations.
Every day is an experiment, and the more you know about what’s possible, the better positioned your company will be to create something impactful.