Event recap: Our take on TPM24

This past month, the Blume Global and CargoWise teams had the pleasure and privilege of attending TPM24 in Long Beach, a major event gathering shippers, forwarders, LSPs and carriers from around the United States.   

We asked our team members to provide a snapshot of their takeaways from this years’ events, and this is what they had to say: 

Red Sea continues to present challenges 

We continue to see news pour out around the Red Sea, but TPM24 attendees noted that it really is more of a challenge than a crisis. How could it be managed? By diverting traffic away from the Suez, along with using faster vessels, disruptions and risk would be mitigated. However, changing course would bring on higher costs and longer lead times comparable to the original route. 

Although this may seem to present a challenge, capacity is not constrained due to the lighter demand by shippers, and the Port of New York and New Jersey has seen increases in container and automobile volumes. 

Technology’s slow adoption in ocean freight vs. The overall supply chain space 

Though technology is on the forefront of most discussion in reference to the supply chain, ocean freight forwarding has been and is seemingly continuing to be slow to adapt. However, there are many great advancements available to forwarders who want to digitize their operations that would truly take their efforts to the “next level.” At TPM24, attendees claimed that although adoption was moving slowly, finding the right technology/solution for your business is invaluable. 

On the contrary, the pace of developing technology making its way into the supply chain and logistics space is increasing, but the value of the solutions needs to be weighed out by companies. First, it is necessary to identify one's specific problems that can be solved by technology and then deploy the solution and measure its efficacy and ROI from the investment.  

Labor contract raises questions 

The East Coast master labor contract is set to expire on September 31, 2024, potentially impacting pricing and routing, with potential job actions expected. The potential for a strike by the International Longshoremen’s Association (the largest union of maritime workers in North America) is beginning to rise on the list of concerns among decision-makers and advisors.  

Negotiations for the East Coast labor contract should be considered by shippers, with job actions expected closer to the expiry date. 

At Blume Global, we are excited to remain on the frontlines of the developing supply chain and to see what the future has in store. Are you interested in learning how Blume’s solutions are helping advance operations? Learn more: https://www.blumeglobal.com/.