Annual Meetings-Transportation: Emerging Trends in Trucking and Supply Chain Issues - Janelle Griffith, Marsh, and Gavin Spencer, Parsyl

Transportation: Emerging Trends in Trucking and Supply Chain Issues - Janelle Griffith, Marsh, and Gavin Spencer, Parsyl

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The document discusses the challenges faced by the transportation industry and offers potential solutions. It highlights the global supply chain crisis, emphasizing factors like consumer culture, the pandemic, and manufacturing shortages that have contributed to unprecedented challenges. Major commodity sectors, such as perishable foods and pharmaceuticals, are particularly affected. The impact on the logistics and inland marine market is also explored, citing issues like container losses and labor shortages.<br /><br />Various emerging trends and solutions are proposed, including a move towards sustainability, supply chain automation, and enhanced visibility through big data. The importance of insuring the supply chain, specifically in the inland marine market, is emphasized. The document underscores the need for leveraging technology and data to manage and mitigate supply chain risks effectively.<br /><br />Case studies are provided to illustrate how data-driven underwriting and risk management strategies can significantly improve risk profiles and lead to better premiums. The use of technology, such as telematics and IoT, in supply chain logistics is also discussed, along with the role of machine learning in pricing and underwriting.<br /><br />Additionally, the document explores the importance of proactive interventions, such as route studies and real-time monitoring, to prevent incidents like temperature excursions and ensure the protection of essential supply chains. Overall, the text advocates for proactive risk management strategies and leveraging data and technology to navigate the complexities of the transportation industry effectively.

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Presented by:
Janelle Griffith, Marsh, and Gavin Spencer, Parsyl

Keywords

transportation industry challenges

global supply chain crisis

consumer culture impact

manufacturing shortages

logistics market issues

supply chain automation trends

supply chain visibility

data-driven underwriting

risk management strategies

technology in supply chain logistics