This Week on Supply Chain Now: February 15th – 19th

In July, what is being called the “largest IT outage in history” grounded air cargo and travel and caused “substantial disruptions” to the networks of such supply chain giants as FedEx and UPS. While cybersecurity company CrowdStrike blamed the worldwide outage on a “software update” and not a cyberattack, the event illustrates the importance of taking measures to safeguard the supply chain systems we all rely on for the movement of goods and people. Cybersecurity is Paramount in Digital Supply Chain A Boston Consulting Group (BCG) report published in October 2023 said that “bad actors are using more sophisticated tools and techniques to exploit vulnerabilities in digital networks, and weak points can be difficult to detect. Companies with established cybersecurity capabilities are being compromised through less sophisticated third parties that are connected to their network.” Today’s Supply Chain Remains Vulnerable to Cyberattacks According to the Identity Theft Resource Center, the number of organizations targeted by supply chain cyberattacks skyrocketed by 2,600% between 2018 and 2023. Verizon’s 2024 Data Breach Investigations Report said there was a 68% year-over-year leap in the amount of “supply chain interconnection” involved in cyber breaches. Among high-profile cyberattacks affecting the supply chain: In December 2020, Forward…

It’s an exciting, transformative period for the global supply chain. After several years of disruptions from the pandemic, high-stakes labor challenges, and unstable global trade, supply chain innovators are looking to future-focused solutions that can help logistics professionals not just survive, but thrive in this complex environment. In this article, we explore nine FreightTech solutions (in no particular order) that are making a significant impact in 2024. 1. Axle: Streamlining Back-Office Operations with AI Axle Technologies is modernizing the logistics industry by leveraging artificial intelligence to streamline time-consuming back-office operations. Their universal data platform simplifies access to logistics data, enabling companies to optimize deliveries, reduce fuel costs, and enhance the sustainability and profitability of trucking. Axle embraces diversity, collaboration, and the 80-20 rule, understanding that customer feedback is essential for innovation. By wrangling diverse data sources into a universal schema, Axle is building the transportation infrastructure of tomorrow, making the industry more efficient and resilient. 2. EAIGLE: Enhancing Visibility with AI EAIGLE uses AI to provide unprecedented visibility into operations at gates and yards. Their end-to-end AI platform works with existing or third-party hardware, including optical and infrared cameras and radar sensors. This hardware-agnostic approach ensures superior accuracy, eliminating false…