During yesterday’s Freight Market Update Live webinar, we asked our attendees about their inventory levels. The results? 22% of shippers say they don’t have enough inventory—up from just 5% last March. Meanwhile, only 17% have too much inventory, compared to a staggering 48% last year. Why? Increased sales was cited as the number-one reason, followed by early holiday frontloading (amid East Coast labor issues, congestion, and transit delays), post-COVID inventory replenishments, and other factors. Interested in hearing more? Watch the webinar on demand here → https://lnkd.in/epD_4fBH
Flexport
Transportation, Logistics, Supply Chain and Storage
San Francisco, California 204,901 followers
About us
The technology platform for global logistics.
- Website
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https://www.flexport.com/
External link for Flexport
- Industry
- Transportation, Logistics, Supply Chain and Storage
- Company size
- 1,001-5,000 employees
- Headquarters
- San Francisco, California
- Type
- Privately Held
- Founded
- 2013
- Specialties
- customs brokerage, freight forwarding, global trade, logistics, software, data, analytics, cloud software, international shipping, supply chain management, digital freight forwarding, supply chain technology, supply chain tech, ocean freight, ocean shipping, air freight, air shipping, duty drawback, cargo insurance, and capital
Locations
Employees at Flexport
Updates
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✨ A Night to Remember! ✨ On Wednesday evening, we had the pleasure of hosting an unforgettable networking soirée on our beautiful Flexport rooftop. 🌇 Surrounded by the stunning Manhattan skyline, supply chain and logistics professionals came together for an evening filled with great conversations, new connections, and delectable hors d’oeuvres! 🎉 A huge thank you to everyone who attended and made the night a success. Your energy and enthusiasm made it a one-of-a-kind experience! Stay tuned for more exciting events—we can't wait to see you all again soon! 🚀 #Networking #SupplyChain #Logistics #CorporateEvents #RooftopEvent #ThankYou
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In this week’s Freight Market Update, the Peak Season Surcharge (PSS) on the TPEB will increase on June 15. Meanwhile, Asia’s primary loading ports are experiencing severe equipment shortages, which will likely continue into the coming weeks. Workers at the Canada Border Services Agency (CBSA) have reached a tentative deal, averting a strike. U.S. exporters continue to face container challenges amid rerouting around the Cape of Good Hope and congestion at key ports. Check out the full update for more, and subscribe today to stay on top of the latest news and trends from around the industry. #supplychain #logistics #freightmarket #freightindustry #oceanfreight #oceancargo #oceanshipping #airfreight #aircargo #airshipping #trucking #intermodal #railfreight
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[LAST CHANCE TO REGISTER] Looking to stay on top of the latest trade lane news and updates? Then don't miss our next "Freight Market Update Live," where Flexport's Nathan Strang, Kyle Beaulieu, and Thomas P.C. Kempf discuss what's currently happening in the ocean and air markets. 🌊✈️ Save Your Spot 👉 flx.to/fmu-live-061324 #supplychain #freightmarket #oceanshipping #oceanfreight #oceancargo #globaltrade #webinar
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AI is poised to transform logistics—and it’s happening right around the corner. “As an industry, we’re uniquely positioned to benefit from it,” says Flexport CEO Ryan Petersen. “We’re sitting on mountains of interesting data that can train AI to make better decisions.” That’s one of many observations he shared with FreightWaves’ Craig Fuller at last week’s Future of Supply Chain conference. There, Ryan also explored: * His experience navigating the pandemic supply chain crisis, and why logistics is a force for good * What we’ve done to drastically improve our fulfillment capabilities since Flexport acquired Shopify Logistics a year ago * How the Convoy platform is driving industry-wide flywheel effects * The long-term implications of ocean market fluctuations and disruptions in the Red Sea * The importance of risk-taking in a notoriously slow-to-innovate industry Check it out here: https://lnkd.in/er4sqAgx
FOSC 2024: Challenges and Opportunities of Integrating Ocean and Highway Services with Ryan Petersen
https://www.youtube.com/
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Curious about the next era of freight technology? Bill Driegert, Flexport’s Head of Trucking, has a few key insights in hand. At last week’s Future of Supply Chain conference, Bill sat down with FreightWaves CEO Craig Fuller to discuss: * The rise of smartphone apps, autonomous trucking, and blockchain (and why shippers and brokers need to catch up to carriers) * Why Flexport acquired the Convoy tech stack—and what it entails for the future of logistics technology * Unprecedented growth opportunities for owner-operators and small carriers * How innovation and competitive dynamics continue to drive market volatility Tune into the conversation here 👉 https://lnkd.in/eKqsHWbi
FOSC 2024: How Technology has Flipped the Economic & Operating Model with Bill Driegert of Flexport
https://www.youtube.com/
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In our recent Scenario Planning webinar, Maximilian Hess along with Chris Rogers and Mathijs Slangen discussed the political and economical impact on global supply chains. Maximilian provided an in-depth analysis of current geopolitical risks, examining how shifting political landscapes, trade policies, and international tensions could reshape supply chains globally.📈 Watch the webinar on-demand now here 👉 https://lnkd.in/eExDbi3x
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🚢 Facing challenges with port congestion? Curious about how it is impacting the freight market? Camille (Chauvin) Carenton and Lasse Daene will be hosting a special edition of Freight Market Update Live webinar. They will be joined by special guests Trine Storgaard Nielsen and Martin Holst-Mikkelsen, senior leaders from our ocean team, who will share their insights on current situation and take a deep dive on port congestion topic. 🔎 Don’t miss out on critical insights to stay ahead in the dynamic freight market. 📅 Date: 25 June, 2024 🕔 Time: 15:00 BST | 16:00 CEST 🖊 Register Here: https://lnkd.in/emwcFB2m
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Thank you Parisa Sadrzadeh for your leadership. We’re just getting started! 🚀
I haven’t posted much on LinkedIn in a bit, but June marks a big milestone for me and my Omnichannel Fulfillment team that I want to celebrate – it’s the one-year anniversary of Flexport's acquisition of Shopify Logistics/Deliverr Inc. As I reflect on this past year, I am overcome with deep gratitude and pride for all the team has built, transformed, and accomplished for merchants in such a short period of time. Integrating two robust businesses and navigating through complexity and ambiguity was no easy feat. On June 6, we closed the acquisition, and a mere 90 days later we launched the first-ever #supplychain product that married international freight services, domestic omnichannel and #ecommerce fulfillment, and trade and financial services. This rapidly evolved the legacy Deliverr Seller Portal into the first platform to connect a customer’s supply chain from factory floor to customer door – now known as Flexport’s Omnichannel Seller Portal. This consumer-grade product lowers the barriers for merchants of all sizes to not only manage their end-to-end logistics in one spot, but make #omnichannel growth achievable by all. We knew from the beginning that our operations, customer service, and execution had to be world-class. We acquired a fragmented network of 50+ warehouses operated by a myriad of 3Ps. This model was a drain on our profitability, and prevented us from consistently driving the quality our customers expect. We designed a new operating model and invested in consolidating our network to five strategically placed hubs that Flexport will own and operate. This rapidly improved our unit economics, but also allowed us to take the reins on performance. We improved our Dock-to-Stock speed, making customer inventory available twice as fast. Our On-Time-Shipping is 99%, and our On-Time-Delivery is 97%+. With this consolidated network, our five hubs now represent more cumulative square footage than we had before, allowing us to co-locate multiple services under one roof for faster processing and scale 5X during Peak, all while maintaining (and in some cases increasing) the speed of delivery. To help merchants grow, Flexport now integrates with more than 30+ eCommerce platforms and #B2B retailers including Shopify, Amazon, Walmart, Costco Wholesale, Target, Nordstrom, and our newest addition SHEIN. Ultimately, this gives merchants flexibility/optionality in how they serve customers with the simplicity of one inventory pool. Since we launched in September, we received substantial interest from merchants, with over 25K sign-ups to the Portal. Thousands of merchants have entrusted us with their goods, booking tens of thousands of shipments, and moving tens of millions of units through our network this past year. We’re on track to crush prior records this Peak, growing alongside our diverse merchants, making fulfillment a long-term profitable growth engine for Flexport. In just 1 year, we learned a ton, built a lot, and delivered even more.
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June is an exciting milestone for the Omnichannel and Fulfillment business – it is our ONE YEAR anniversary of the Shopify Logistics/Deliverr acquisition, and signifies Flexport taking a strategic step forward in achieving our vision of being the best end-to-end logistics solution for businesses of all sizes. Our major milestones include👇 💻 In just 90 days after the acquisition, Flexport launched the Omnichannel Seller Portal – the first truly end-to-end, consumer-grade platform connecting a customer’s supply chain from factory floor to customer door/retailer store. 🏭 We redesigned our fulfillment network, consolidating to five strategically placed hubs across the U.S. improving quality, speed, and costs. 🌟 Since the acquisition and consolidation, Flexport’s Operations Team now delivers world-class quality metrics for our customers including 99% On-Time-Shipping, 97%+ On-Time-Delivery, and we improved our Dock-to-Stock speed, making customer inventory available twice as fast. 📈 Merchants have shown significant interest in partnering with Flexport on Omnichannel & Fulfillment – we had received more than 25,000 sign-ups for the Seller Portal, support thousands of active sellers, and have moved millions of units through our network since the acquisition. Thank you to our customers for partnering with Flexport and entrusting us with your business, and thank you to our Flexport team for building a revolutionary experience for our customers, empowering them to ship anywhere, sell everywhere, and grow faster! This is just the beginning. Read more about our progress: https://lnkd.in/et9JVFkB Check out a tour with Flexport CEO and Founder Ryan Petersen at our Newark fulfillment hub! 📦