Leverage the Dynamic Changes in Shipping to Accelerate Success in 2024

The past year has certainly kept us all on our toes with the ups and downs of the industry and the ever-changing landscape of shipping. As we look back on some of the most dynamic changes it’s important to consider how each of them can help you move ahead in 2024.

Top 5 2023 Blog Posts to Help Shape 2024 Strategies

1. Simplifying Nearshoring Opportunities: Best Practices for Intra-Mexico and Cross-Border Shipping
   In recent years, Shippers and 3PLs have been exploring nearshoring opportunities to optimize their supply chains and take advantage of cost-effective solutions. For companies considering Mexico as a nearshoring destination, understanding the intricacies of intra-Mexico and cross-border shipping is crucial. Shippers and 3PLs need to understand the key best practices to cover regulations, establish carrier connections, manage shipments, account for customs brokerage, weights and measurements, and the unique aspects of shipping in Mexico.
   
   
2. Using AI to Build a Supply Chain of the Future
   Technology has been a key factor in the growth and strength of the supply chain, with many companies adopting digital solutions to manage their freight more efficiently and effectively. Recent innovations like artificial intelligence (AI) have emerged to improve shipping operations and help Shippers, 3PLs and freight brokers build on their existing technology. It changes the way Shippers, 3PLs and freight brokers manage their supply chains by helping build a more efficient solution.
   
   
3. Preparing Your Shipping Processes for Upcoming Climate Regulations
   As regulations begin to mount for the reduction of carbon emissions in transportation, the logistics industry is facing heightened scrutiny and businesses are seeking solutions within their supply chains. To address these emissions, government agencies at the state and federal levels have been preparing regulations aimed at the transportation industry, which includes businesses in over-the-road shipping. While many of the rules go into effect in a few years, Shippers and 3PLs need to plan now to get ahead of the changes.
   
   
4. Cutting Through the Noise: What to Look for in a Digital Shipping Solution
   The unpredictability of the supply chain over the past few years has made technology a critical component in shipping operations. Some Shippers and 3PLs were quick to employ multiple solutions to adapt to changes and manage their freight. However, some of those solutions didn’t integrate with each other or failed to deliver the functionality needed to maintain efficient shipping operations. As the economy tightens, these companies are looking to scale their technology to ensure they’re operating more efficiently.
   
   
5. How OTR Multi-Mode Management Addresses Your Shipping Needs in 2023
   Due to fluctuating shipping costs and the uncertainty of the freight trajectory, Shippers and 3PLs need a reliable technology solution with access to the best shipping rates for all over-the-road (OTR) modes to make the right shipping decision for every load. A digital multi-mode shipping solution can address the needs of Shippers and 3PLs to ensure they have more OTR shipping options to help save time and money while attracting new business.

As we approach 2024, it's clear that the shipping industry is at a critical juncture. The dynamic changes of the past year, ranging from nearshoring strategies to the integration of AI in supply chains, have set the stage for a transformative era in shipping and logistics. By capitalizing on these insights and strategies, businesses in the shipping and logistics sector can accelerate their growth, optimize their operations, and achieve new levels of success in 2024. Harness the lessons of the past to build a more resilient, efficient, and innovative future in the world of shipping.

Solutions for Staying Ahead of Changes

Banyan Technology, the leading provider of freight execution software for real-time rating and execution of all OTR shipments, recently launched several innovative new features in our LIVE Connect® shipping software to help Shippers and 3PLs respond to the increasing demands of their customer base, including:

• Carbon Footprint Tracking: The CarbonTRAX™ & Offset feature calculates the carbon impact of every shipment and allows you to select from a variety of vetted climate action projects around the world to offset them.
• Predict Pricing: Banyan’s Truckload AI by Greenscreens.ai functionality allows 3PLs to respond to customers’ Truckload freight requests more quickly and with more accuracy than ever before through the power of predictive pricing.
• Nearshoring Advantage: With services throughout North America, Banyan’s expanded Mexico coverage streamlines complex cross-border and intra-Mexico shipping for Shippers, 3PLs and brokers and 3PLs.
• Lane Intelligence: Valuable, historical data offers insight into predicted carrier and lane performance that helps Shippers and 3PLs make informed decisions on the reliability of their selected Carrier and lanes when scheduling shipments.

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