The speedy acceleration of e-commerce in 2020. Market volatility led to by the coronavirus pandemic. Tight capability close to U.S. ports. The complexities surrounding the rollout of the COVID-19 vaccine. These are among the points that would trigger corporations to crumble, however third-party logistics supplier XPO Logistics (NYSE: XPO) has been capable of navigate this risky panorama partly due to the technological choices that it gives to prospects.
That agility helped XPO Logistics safe the No. 15 spot on FreightWaves’ list of top 25 companies that seek to use or deploy technology in innovative or disruptive ways in 2020.
“This unpredictable 12 months has highlighted the crucial position of know-how in making certain provide chain continuity,” mentioned XPO Logistics Chief Data Officer Mario Harik. “We thank FreightWaves for recognizing our dedication to advance the business via innovation, with higher visibility and management of operations.”
FreightWaves produces the annual listing by asking a peer group of CEOs, business leaders and traders to resolve which corporations ought to be included on FreightWaves’ FreightTech 100. That listing then will get winnowed all the way down to the FreightTech 25.
XPO Logistics’ tech choices embrace XPO Connect, which allows carriers to locate the right load for their operation, bid on it or select it. The corporate can also be seeking to use artificial intelligence and machine-learning capabilities to research shopper demand and predict stock for its retail prospects, and it desires to create merchandise that would supply end-to-end cargo visibility and optimize sequencing.
Although the company is splitting into two, XPO Logistics plans to maintain its tech choices in place.
XPO Logistics mentioned final month that break up will create two corporations: One will embrace XPO’s North American and European less-than-truckload (LTL) and truckload brokerage companies, which, for now, might be referred to as XPORemainCo, whereas the newly created firm, comprising XPO’s North American and European logistics items, might be referred to as NewCo.
“The deliberate spin is successfully a clear-cut separation of the 2 reporting segments XPO has had all alongside,” an XPO Logistics spokesperson mentioned. “The Transportation and Logistics companies are each business leaders in their very own proper. The remaining firm might be our international transportation providing (XPORemainCo), which is primarily LTL and truck brokerage.
“NewCo and RemainCo could be two separate public corporations listed on the NYSE and each would have entry to XPO’s sturdy know-how suite in perpetuity.”
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Associated articles:
XPO’s Wilkerson: Look for 2020 shipping trends to stick around in 2021
XPO to split transport, logistics businesses
XPO Logistics helps carriers grow with new technology and rewards programs
— to www.freightwaves.com
