The Matt Waller Podcast

I recently had the pleasure of interviewing Michele Meyer about her impressive 30+ year career in the consumer packaged goods industry. Michele held numerous leadership positions at General Mills, culminating in roles leading major operating units. She was able to drive significant growth and transformation throughout her career.When I asked Michele what has contributed most to her success as an executive, she shared some valuable lessons from her time at General Mills. One key lesson was to "trust the process." She realized that career paths don't always follow a perfect plan, and there are opportunities to learn along the way. Another lesson was finding her strengths and gifts, excelling in those areas, and focusing less on trying to be excellent at everything. This allowed Michele and her teams to operate at their highest level.Michele also stressed the importance of humility and teamwork. It took her time to understand that the team is as important as any individual. When everyone contributes, the overall result is greater than what any one person could achieve alone. She found success by valuing diverse perspectives on her teams.As the leader of General Mills' Small Planet Foods division, Michele helped grow the business from $100 million to over $300 million in sales in a short period. A big part of her strategy was trusting and learning from acquired brand founders like Gene Kahn of Cascadian Farm. She brought their valuable perspectives into General Mills' approach. Michele realized General Mills could learn as much, if not more, from smaller companies they acquired. This helped shift General Mills' marketing approach to be more complex, intimate and relationship-driven.In our discussion, Michele provided insightful perspectives on operating in the natural/organic space from both a marketing and farming supply standpoint. She acknowledged the challenges of meeting growing demand for healthier products while maintaining organic certification requirements. Michele also offered thoughtful perspective on how price sensitivity impacts consumer decisions in this space.Post-retirement from General Mills, Michele now serves as an Operating Partner at NewRoad Capital Partners. Her experience successfully acquiring and integrating brands serves her well in private equity. Michele emphasized the ongoing value founders bring through their unique visions. She aims to support founders in achieving sustainable growth.Through our conversation, it was clear that Michele’s success stems from her willingness to learn, her focus on developing diverse teams, and valuing all perspectives - including those from smaller companies. Her career exemplifies how continual learning allows one to take on new challenges across different industries. Michele’s insights provide a great lesson for any professional seeking to maximize their own career impact and contributions.

I recently had the pleasure of interviewing Chris Ladd, a seasoned private equity investor and board member. Chris shared insights from his extensive career in corporate development, M&A, and private equity. Here are some highlights:How Chris Identifies High-Potential CompaniesWhen considering investments, Chris looks for two key ingredients - a market need/gap, and a solution that can fill that gap in a way that's core to the customer. Solid management, competition, industry trends etc. matter too, but those two factors are paramount.Strategic Guidance as a Board Member In board roles, Chris focuses on bringing structure and strategic frameworks to early-stage companies. This includes testing key assumptions, making sure the right resources are in place, and that management processes align with the strategy. He notes it's a fluid process as strategies morph rapidly in early-stage companies.Technology's Impact on Business GrowthChris sees technology and innovation as crucial for driving growth and productivity gains needed in today's competitive landscape. He pointed to the huge amount of remaining manual processes and whitespace in supply chain, logistics and other sectors where there's room for efficiency gains.The Future of Private EquityChris predicts private equity will continue growing as an asset class as more retail/individual investors get exposure. Platforms are emerging to provide individuals with easier access. He sees AI and technology improving processes like deal sourcing, research and analytics on the operations side.Chris' Best Career AdviceOne professor emphasized that business is a grind, so you need to physically and mentally prepare through exercise, proper sleep etc. This has stuck with Chris as great advice for building the endurance required to perform at a high level consistently.Key Takeaways- Focus on market gaps and solutions core to the customer- Provide structure/strategy frameworks to early-stage companies - Technology will drive productivity and efficiencies- Private equity access is democratizing for individual investors- Success requires tremendous effort and lifestyle habits like fitness

I recently had the chance to chat with Stefan Sterns, a partner at private equity firm NewRoad Capital Partners, about his extensive career in investment banking and private equity. Stefan spent over 8 years at Barclays Investment Bank in New York, working on M&A advisory assignments and debt/equity capital raises totaling over $200 billion.Some of the most valuable lessons Stefan learned during his time in banking included the importance of working with smart, motivated colleagues. He found that being surrounded by driven people who he enjoyed collaborating with helped make long hours more rewarding. Stefan also witnessed major disruptions in the media industry from trends like cord cutting and the rise of streaming services.We discussed emerging opportunities in retail media networks, an area still in its early stages. Stefan is keeping a close eye on technology solutions that could help consumer goods companies effectively manage hundreds of individual retailer partnerships. Northwest Arkansas' strong expertise in retail and supply chain positions the region well for innovations at the intersection of these industries.Now at NewRoad Capital, Stefan appreciates gaining deeper operational involvement with portfolio companies post-deal. He finds private equity work especially satisfying when leveraging the firm's retail industry experience to identify problems and potential fixes. Looking ahead, Stefan is focused on navigating current market volatility and seeing where investment opportunities may emerge from industry consolidation.The conversation offered valuable perspectives on evaluation cycles, sourcing deals, and leveraging domain expertise to generate compelling investment theses. Stefan's background spanning banking, media, and retail private equity provided unique insights into evolving industry landscapes.

Discover the transformative world of executive coaching through the eyes of Steve Graves, a seasoned mentor with over three decades of experience. Join us as Steve reveals the secrets behind his dynamic coaching approach that favors impactful, short-term partnerships over long-term commitments. From guiding CEOs of global corporations to advising small family businesses, Steve has honed a method that adapts to the unique environment of each leader. He also shares personal anecdotes, including his love for fly fishing and how he strategically aligned his career with his personal strengths by age 35. Prepare yourself for an insightful journey into the nuanced art of coaching with a man who has dedicated his life to helping leaders navigate pivotal stages in their careers.Get ready to learn how the right industry fit can make all the difference in CEO coaching. Steve sheds light on the importance of refining coaching strategies through feedback and tailoring them to meet individual needs. Hear a compelling story of adapting his style for a client who thrived outside the traditional office setting, showcasing the necessity of aligning methods with the distinct characteristics of those he works with. With a passion for writing and a knack for using personal experiences as a testing ground for innovative ideas, Steve offers a fresh perspective on shaping polished coaching concepts. This episode is a must-listen for anyone interested in the evolving world of executive coaching and the critical role of adaptability in guiding leaders to success.

Chris Sultemeier recently sat down for an insightful interview on The Matt Waller Podcast. With nearly 30 years of experience leading supply chain and logistics at retail giant Walmart, Chris has a wealth of wisdom to share. A few key themes around leadership and innovation emerged from the conversation.Humility and TeamworkDespite his many high-level roles, including EVP of Logistics, Chris maintains a humble, team-focused approach to leadership. He believes strongly in ‘servant leadership’ – empowering others so they can accomplish more than they thought possible. As Chris puts it, “You are only as good as the team you’re leading.” He took the greatest joy in “seeing a team accomplish more than they ever thought they could.”Chris stresses that building trust is the foundation of any relationship. Team members must know you truly care about them as individuals, not just cogs in a machine. With trust and care in place, Chris found team members would go to incredible lengths for shared success.Innovation Through TestingChris credits Walmart’s continued innovation, even as a huge company, to relentless testing and trying of new concepts. He reminisces about the constant small tests underway during Sam Walton’s leadership. This experimental approach never ceased even as Walmart grew.Chris provides several examples where Walmart piloted ideas he was originally skeptical of, including order online pickup in store and automation partnerships, which both proved tremendously successful. He learned not to dismiss ideas out of hand just because the approach was counterintuitive. Walmart’s test-and-learn culture kept them innovating.Investing in the FutureSince retiring from Walmart, Chris serves on the boards of several tech startups aiming to transform retail and supply chain. He looks for companies with a compelling vision to solve real-world problems, such as inefficient ocean shipping contracts. Chris partners with founders who have the drive and humility to see their ideas through.He is particularly excited about companies leveraging AI, machine learning and generative AI to structurate unstructured data. Chris believes these emerging technologies will unlock major advancements.Throughout his long career, Chris Sultemeier has exemplified personal humility, commitment to teams, and the power of an experimental mindset. His wisdom provides lessons for leaders in any industry looking to innovate and build trusted teams for the long-term.

I recently had the pleasure of interviewing Tracy Black, an accomplished technology executive in the logistics industry and partner at NewRoad Capital Partners. Tracy served as Senior Vice President of Information Technology at J.B. Hunt Transport, leading major technology transformations for the company. She now serves on the boards of several early-stage companies and offers advice to founders in the logistics and supply chain technology space.In our discussion, Tracy shared insights from her impressive career journey and offered advice for developing strong IT talent.A few of the key takeaways include the following:Implementing new technologies at large companies requires alignment at the top and a clear focus on expected outcomes. Quick prototyping can help demonstrate possibilities to leadership.When evaluating startups to partner with, Tracy looks for strong leadership teams and an “unfair advantage” that differentiates the business. She advises founders to surround themselves with smart people and pay close attention to unit economics.Attracting IT talent, especially in Northwest Arkansas early in her career, required creating a culture of career growth, learning, and empowerment. Tracy invested heavily in training, mentorship, internships, and giving technologists visibility to leadership.Asking for help and collaborating with others is key for career advancement. Trying to appear like you know everything can hold you back.Tracy is passionate about leveraging data, AI, and her team of operating partners to provide added value to the startups NewRoad Capital invests in.It was fascinating to learn from Tracy’s perspectives on navigating major technology changes within large corporations and high growth startups. Her strategic mindset and focus on people clearly contributed to her success as a leader.

Clete Brewer is the founder and managing partner of New Road Capital Partners, a private equity firm focused on investing in and scaling companies in the supply chain logistics and retail technology sectors. He has over 30 years of experience leading and advising high-growth companies, previously serving as CEO of staffing company Staffmark and President of Sport Clips.In the interview, Brewer provides his perspective on trends in private equity investing and shares insights on how New Road identifies and partners with promising companies to help them scale.Key Takeaways:- New Road looks for companies at the "tipping point" stage, where they have an established product and early traction but need help accelerating growth. The firm leverages its operating expertise and networks to provide strategic guidance and operational support. (Listen to the podcast to gain a full understanding of this idea.)- When evaluating management teams, New Road looks for humble leaders who surround themselves with strong talent and have a focused solution that solves a real pain point for enterprise customers.- The COVID-19 pandemic accelerated adoption of supply chain technologies like track and trace, final mile delivery, and reverse logistics. New Road sees continued opportunities in modernizing legacy systems through cloud-based, specialized solutions.- Strategic corporate venture investing is on the rise, allowing large companies to support innovation and gain insights into emerging technologies in their sector. New Road partners with corporations looking to invest alongside their fund.Brewer emphasizes the importance of focus, and chemistry in building the New Road team. His passion for unleashing entrepreneurial spirit shines through. For supply chain and retail tech companies looking to scale, partnering with an operationally-focused firm like New Road can provide invaluable guidance on growth.

The balance between supply and demand has a significant impact on pricing and behavior in the trucking industry. During periods of excess capacity, known as soft markets, prices tend to fall as carriers are willing to honor existing contracts, as evidenced by high acceptance rates. However, in tight markets where demand outweighs supply, prices rise and carriers may prioritize more lucrative spot freight opportunities over contracted loads.These market dynamics and the incentives that drive carrier and shipper actions were the focus of recent research conducted through a partnership between academia and industry. Angi Acocella, who has studied trucking procurement through her research at MIT, explored how carriers respond to shippers under different conditions. Her findings indicate that while maintaining relationships is important, carriers are primarily motivated by current market conditions when deciding which loads to prioritize.While optimization models have proven useful in procurement, the assumptions made in early approaches underestimated the dynamics of real-world transportation. Deterministic frameworks that ignore variability did not translate effectively to practical applications. Newer techniques have emerged to instead impose constraints that reflect industry complexities. This enhances the strategic value of optimization beyond traditional deterministic, cost-focused objectives.Network segmentation also deserves further study, as not all freight lanes are uniform. Factors like volume consistency, carrier types, and opportunity costs must be considered to tailor solutions. Dynamic contracts that fluctuate with market conditions could provide more flexibility than annual fixed-rate agreements.To address the trucking industry’s many complexities, practitioners and academics should continue close collaboration. Analytics from such collaborations can provide insights for industry players ready to adapt to the constant changes they face. Maintaining perspective across networks while focusing on execution, not just planning, will be key to future success.

I interviewed Gordon Downes, the founder and CEO of NYSHEX, an innovative company providing technology solutions to address major challenges in the ocean container shipping industry. With 80% of the top 10 ocean container carriers and many shippers already using the NYSHEX platform, it has significant implications for reducing expected lead times, lead time variance, safety stock, and out-of-stocks for shippers, while also enabling carriers to utilize their equipment more efficiently.What impressed me about Gordon is how his 12 years of experience at Maersk, the world's largest ocean container carrier, combined with his time at SABMiller/AB InBev, the world's largest beer shipper, gave him unique insight into the problems facing both carriers and shippers. From the carrier side, he saw how no-show bookings and overbooking led to vessels sailing underutilized. From the shipper perspective, he witnessed the costly consequences of containers arriving late.Eight years ago, recognizing that other industries had solved similar problems using technology, Gordon founded NYSHEX to collect, cleanse and harmonize data from various supply chain partners to provide a shared system of record. This enables carriers, shippers, NVOCCs and 3PLs to all have the same set of facts to identify the root causes of problems, rather than relying on incomplete information and engaging in blame games that strain relationships.Some of the key problems NYSHEX addresses include determining what went wrong when a container doesn't show up as planned - was the container not loaded, picked up late, or documentation not produced on time? The platform captures data on all the steps prior to container movement, not just basic visibility, to provide a complete picture. It then generates alerts and workflows to flag at-risk containers while there is still time to take corrective action.By improving planning, execution and communication across the supply chain, NYSHEX reduces waste that negatively impacts both carriers and shippers, such as vessels sailing light and shippers facing production delays. Carriers benefit from better vessel utilization, reduced workload dealing with exceptions, and strengthened customer relationships. Shippers gain the ability to provide carriers with more reliable volume forecasts to secure space and equipment allocations.I see huge potential for shippers to leverage the rich data and analytics from NYSHEX to optimize inventory, similar to what happened in the quality management era when businesses redesigned processes to eliminate sources of defects. With granular data on transit time distributions and delay patterns that were never available before, shippers can reduce safety stock while improving service levels. This can free up significant amounts of capital, especially important in the current high interest rate environment.While change is hard in an industry that operates on processes largely unchanged for decades, Gordon emphasized how the value NYSHEX delivers is a true win-win. By focusing first on tactical, tangible problems to demonstrate results, then expanding to more strategic issues over time, the company has steadily grown to processing 2% of global container volume, with ample room for further growth.I'm excited by the potential of neutral, third-party platforms like NYSHEX to foster trust, transparency and collaboration that lifts performance for all supply chain participants. With the industry's structural challenges not going away, I believe we will see accelerating adoption of such solutions to enable the responsive, resilient and efficient supply chains required for success in today's turbulent business environment.

The venture capital industry in the United States is a crucial driver of innovation and economic growth, providing early-stage funding and guidance to transform ideas into groundbreaking technologies and companies. Recent years have seen record levels of investment and dealmaking, fueling a wave of innovation across the country. However, the industry faces challenges from a complex policy environment and uncertainties arising from shifts in regulations and economic conditions.Bobby Franklin of the National Venture Capital Association (NVCA) highlighted the historical growth of venture capital, emphasizing key policy shifts in the 1970s that spurred its significant expansion. Venture-backed companies have demonstrated outsized economic impact, with over 50% of public companies since the 1970s having venture capital backing. Despite this, there remains a disconnect between policymakers and the unique needs of venture-backed companies, particularly regarding regulatory challenges such as mergers and acquisitions and antitrust regulations.The NVCA's mission is to foster rational policy discussions to preserve and enhance the nation's innovative capacity. Franklin emphasized the importance of engagement with venture-backed companies and highlighted the significance of seed and pre-seed investments as indicators of the entrepreneurial ecosystem's health. Despite short-term fluctuations in investment stages and sectors, long-term indicators remain positive, indicating continued confidence in high-potential ventures. Rational public policy, including targeted programs like startup visas, will be crucial in maintaining U.S. leadership in innovation and ensuring the growth of the venture capital industry well into the future.

Today, I spoke with Jared Smith, CEO of Kitestring Technical Services in Bentonville, Arkansas. Jared, who has a PhD in physical chemistry from UC Berkeley, has led Kitestring, a 150-person firm specializing in retail technology, for the past 12 years. Our discussion ranged from the evolution of point-of-sale (POS) systems and the potential of AI in retail to the importance of self-care for entrepreneurs.Evolution of POS TechnologyWe started by discussing the evolution of POS systems, which handle transactions, inventory management, and customer engagement. Jared’s company has a strong history in POS development. We reminisced about early Scan and Go technology at Walmart and its improvements. Jared believes the future of in-store checkout will involve both self-checkout kiosks and traditional cashier lanes, providing a seamless customer experience. He highlighted technologies like RFID and computer vision that could revolutionize checkout processes, allowing customers to walk through a checkout area while the system automatically identifies and rings up each item.Challenges remain, such as RFID signals being disrupted by liquids and metals and computer vision struggling with obscured items in a cart. Jared suggested a hybrid approach, combining these technologies with sophisticated algorithms, could overcome these issues.Omnichannel Retail and Blurring Lines of CommerceOur conversation then shifted to omnichannel retail, merging online and offline shopping experiences, such as buying online and picking up in-store (BOPUS). Jared mentioned Walmart’s early BOPUS experiments, like the Alaskan Bush Pilot Project in the 90s, which predated widespread internet use.Integrating online and offline channels poses unique challenges in inventory management. Questions arise about when an online sale becomes a store sale and how such transactions impact inventory tracking and sales figures. Retailers must navigate these complexities as they adapt to the evolving landscape.The Promise and Peril of AI in RetailWe discussed AI’s potential to transform retail, offering personalized shopping experiences and optimized supply chains. However, AI is also surrounded by hype and uncertainty. Jared stressed the importance of caution when implementing AI, especially in mission-critical systems like POS. Retailers should avoid jumping on AI trends without thorough evaluation, as untested technologies can be disruptive and costly.Nonetheless, AI can enhance operational efficiency. Jared shared a study where consultants using AI tools saw increased productivity and quality. While general-purpose AI tools like ChatGPT are popular, Jared sees more value in specialized AI models trained on specific industry datasets. For instance, an AI assistant trained on a retailer’s historical sales data could provide valuable insights for demand forecasting, pricing optimization, and personalized marketing.Importance of Self-Care for LeadersAs our conversation neared its end, we discussed the importance of self-care for entrepreneurs. Running a business with 150 employees can be incredibly stressful. Jared and I bonded over our commitment to physical and mental well-being, frequenting Blake Street House, a gym where we engage in cardio, strength training, heat therapy, and cold plunges.These practices profoundly impact mental clarity, energy levels, and overall well-being. Jared emphasized the need to prioritize sleep, exercise, and a healthy diet to manage stress and make sound decisions. He believes that taking care of himself makes him a better leader, enhancing his ability to navigate the complexities of running a successful business.See more about my discussion with Jared Smith over on our website

In a rapidly changing global landscape, managing supply chain risk is crucial. This article explores risk mitigation strategies such as diversification, reshoring, and nearshoring, and examines the impact of legislation and technology on supply chain management.Diversification: The COVID-19 pandemic underscored the vulnerabilities associated with concentrated supply chains. Companies heavily reliant on Chinese manufacturing faced severe disruptions when China imposed strict lockdown measures. Samsung’s strategy of diversifying its smartphone production beyond China allowed it to manage these disruptions better than competitors like Apple, which depended more heavily on Chinese manufacturing. This case highlights the strategic advantage of a diversified supply chain in reducing risk and maintaining supply continuity during unexpected crises.Reshoring and Nearshoring: Diversifying production across multiple countries helps mitigate risk but introduces complexities such as expertise, raw material availability, infrastructure, and distribution costs. Reshoring, bringing production back to the U.S., offers benefits like reduced transportation costs and quicker market response but can increase production expenses. Nearshoring, relocating production to nearby countries like Mexico or Canada, balances risk and cost.The best approach often involves a portfolio strategy, strategically spreading production across various countries to reduce exposure to volatility and risk, similar to diversifying an investment portfolio.Legislative Landscape: The U.S. government is increasingly focused on strengthening domestic manufacturing and enhancing supply chain resilience. Numerous bills are being proposed to incentivize reshoring and nearshoring. Some legislation aims to identify critical supply chain vulnerabilities, while others offer financial incentives such as tax breaks and funding for relocation and workforce development. However, the evolving nature of these regulations can be challenging for businesses to navigate. The effectiveness of some measures remains uncertain, and the volume of legislation can make it difficult to stay informed and compliant.Holistic Approach: Managing supply chain risk effectively requires a comprehensive approach that goes beyond merely relocating production or distribution facilities. Key considerations include:Physical Flow: Understanding how the movement of products and materials will be affected by changes in production locations.Information Flow: Managing how information flows within the supply chain and identifying key decision-makers.Collaboration: Facilitating collaboration with new partners in different countries.Working Capital Management: Managing cash flow and working capital across borders.Synchronization: Ensuring that supply and demand are balanced across a geographically dispersed network.Neglecting these factors can undermine the benefits of diversification, reshoring, or nearshoring efforts.Technology’s Role: Emerging technologies are increasingly crucial in managing supply chain risk. Automation, robotics, artificial intelligence, computer vision, and RFID technology are being integrated into production and distribution systems. These advancements can significantly enhance efficiency, reduce errors, and provide greater visibility and control over complex global supply chains.Conclusion: In today’s interconnected world, managing supply chain risk demands a strategic and adaptable approach. Diversification, reshoring, and nearshoring offer valuable solutions but come with their own complexities and costs. Staying informed about legislative developments and leveraging technological advancements are vital for businesses aiming to build resilient and responsive supply chains capable of navigating future disruptions effectively.

This podcast episode dissects Walmart's enduring success, drawing on over 30 years of experience with the company. It begins by recommending Sam Walton's autobiography, Made in America, to understand Walmart's origins and principles. Walmart stands out for its agility, adapting to its massive scale with a consistent purpose: "to help people save money and live better."Walmart's strategy today is a "people-led, tech-powered, omni-channel retailer." Each element of this strategy is explored, highlighting Walmart's investments and initiatives:Investing in People: Walmart's commitment to associates is clear with a 30% increase in hourly wages over five years and investments in education through the "Live Better U" program. The company also supports associate stock purchases, aligning their financial success with Walmart's.Harnessing Technology: Walmart embraces cutting-edge tech, such as the "Shop with Friends" virtual fitting room, and invests in automation, robotics, and AI to enhance supply chain efficiency.Omni-Channel Experience: Achieving omni-channel success involves integrating processes and technology across all sales channels. Walmart's "buy online, pick up in store" model proved essential during the pandemic, showcasing its forward-thinking approach.Reaping the Rewards: Walmart's strategy is reflected in its financial performance, with a 6% growth in net sales to $642 billion in fiscal year 2024, surpassing $100 billion in e-commerce sales. Operating income grew 32% year-over-year, and returns increased by 200 basis points.Beyond Core Retail: Walmart's vision extends into digital ventures like its retail media network, selling advertising across its digital and physical platforms. In 2024, advertising sales reached $3.4 billion, a 28% increase from the previous year, while membership income grew 20% year-over-year.The episode concludes by emphasizing the importance of aligning investments with a company’s purpose and strategy. Walmart exemplifies this alignment by investing in people, technology, and omni-channel capabilities, contrasting with companies that lack a clear purpose or fail to invest accordingly.This analysis offers insights for businesses of all sizes. Embracing a clear purpose, adapting strategies to market demands, and aligning investments with those strategies can drive success in today's dynamic marketplace.

I'd like to share the inspiring story of LockStop, a startup founded by Clayton Woodruff and Mike Burton, who are both alumni of the executive MBA program at the Walton College. Their venture stands as a testament to the power of innovative thinking in solving everyday problems — in this case, enhancing urban mobility by simplifying bike security.The Problem and the Innovative SolutionImagine riding your bike to a location without worrying about the security of your bicycle or the hassle of carrying a heavy lock. This vision is what drove Clayton and Mike to create LockStop, a company that integrates locking mechanisms directly into existing urban infrastructure, such as bike racks. This system not only eliminates the need for cyclists to carry locks but also provides enhanced security features through a connected app that alerts users to any tampering.Their prototype, which is simple yet robust, retrofits to existing bike racks and operates via a QR code scanned by the user’s smartphone. This integration of digital technology into physical security represents a leap forward in making cycling a more appealing option for urban transportation.Entrepreneurial Journey and DevelopmentThe inception of LockStop was during their MBA program, where the duo took a class called New Venture Development. This educational environment provided the fertile ground for their idea to germinate. Mike's personal experience of having his bike stolen as a child, combined with a moment of realization at a farmer’s market where he had forgotten his bike lock, seeded the initial concept.Their journey from idea to prototype involved multiple iterations — from a rudimentary model built from an electric box to sophisticated designs aided by 3D printing and collaboration with a prototype lab. This iterative development process was crucial, as each stage incorporated feedback from various stakeholders, including potential users and city officials.Community and Environmental ImpactLockStop isn’t just about preventing bike theft; it’s also about promoting a healthier, more environmentally friendly urban lifestyle. By reducing the barriers to cycling, such as theft and the inconvenience of locks, Clayton and Mike envision a future where more urban trips are made by bike, thus reducing carbon emissions and traffic congestion while promoting physical health.Their system could serve as a model for cities looking to increase cycling rates among residents, as it promises to make biking a more secure and convenient mode of transportation. The potential for collecting data on cycling routes and habits could also aid urban planners in creating more bike-friendly infrastructures.Challenges and Future DirectionsDespite the clear benefits, introducing a new system like LockStop comes with challenges, particularly around adoption and integration into existing urban infrastructures. Convincing municipalities and other stakeholders to adopt this new system involves demonstrating not only its effectiveness but also its ease of installation and maintenance.Looking ahead, the potential for scaling up LockStop is vast. The technology could be integrated into smart city projects and could attract interest from larger security or outdoor equipment companies looking for innovative urban solutions.ConclusionLockStop exemplifies how a simple yet powerful idea can evolve into a potential market disruptor, influencing urban mobility patterns and contributing to the creation of healthier cities. It also highlights the importance of practical education and entrepreneurial spirit in bringing such ideas to fruition.For anyone passionate about innovation, urban planning, or cycling, LockStop's journey from a class project to a promising startup underscores the limitless possibilities that can emerge from addressing everyday challenges with innovative solutions.

In our latest episode, I had the pleasure of speaking with Omid Moghadam, a seasoned innovator and entrepreneur whose career has spanned impressive stints at major companies like Eastman Kodak and Intel, and who holds over 40 patents. Omid's journey is particularly fascinating due to his involvement in spawning companies directly from within Intel—a testament to his unique blend of creativity and strategic execution within corporate structures.The Genesis of InnovationOmid shared captivating stories about his early fascination with inventions, sparked by the British TV series "Connections," which illustrated the progressive evolution of technology through historical vignettes. This early inspiration is a thread that has run through his entire career, highlighting the seamless blend of history and innovation that has fueled his professional endeavors.A Spotlight on NamidaPerhaps most intriguing is Omid's current venture as CEO of Namida, a company rooted in significant breast cancer research. Namida leverages scientific discoveries to facilitate early detection of breast cancer through a direct-to-consumer product that analyzes protein biomarkers found in tears. This innovative approach addresses the critical gaps in cancer screening, particularly in remote or underserved areas, and exemplifies how technology can radically improve healthcare delivery.The Challenges of Corporate InnovationOmid and I delved into the inherent challenges of nurturing innovation within large corporations. He illustrated this with his experiences at Intel, where he initiated the development of new business ventures. He recounted the creation of healthcare IT solutions and the challenges of aligning radical innovations with corporate structures predominantly geared towards incremental improvements. His insights into the cultural and operational barriers that stifle innovation in large companies are particularly enlightening, underscoring the delicate balance required to foster transformative ideas within established entities.The Entrepreneurial JourneyTransitioning from a corporate environment to launching a startup presents a unique set of challenges and rewards. Omid discussed the pivot from leveraging corporate resources to navigating the entrepreneurial landscape where capital, talent, and market fit are perpetual concerns. His journey underscores the resilience and adaptability required to succeed outside the corporate safety net.Lessons in Leadership and InnovationThrough our conversation, Omid underscored a critical lesson for both corporate leaders and entrepreneurs: the importance of market fit and the ability to adapt and respond to market needs effectively. His reflections on the successes and missteps of large corporations versus nimble startups provide valuable lessons in agility, strategic thinking, and the relentless pursuit of innovation.ConclusionMy discussion with Omid Moghadam on the podcast was not only a deep dive into the life of a remarkable innovator but also a broad examination of the complexities of leading and innovating in both corporate and startup environments. His journey offers profound insights for anyone interested in the intersection of technology, entrepreneurship, and leadership.For those intrigued by the nuances of innovation and the strategic foresight required to navigate both established and emerging markets, this episode is a compelling exploration. Remember, the drive towards innovation isn't just about creating new products; it's about reshaping industries and improving lives through thoughtful, innovative solutions.

The retail landscape is changing faster than ever. Customers demand speed, convenience, and above all, a seamless experience. This puts immense pressure on supply chains, especially with the rise of omnichannel retail. As this complex world is navigated, one thing is clear: AI is not just a buzzword; it's the key to unlocking a new era of quality and efficiency.Captur, a company at the intersection of quality and supply chain, leverages AI to help retailers scale their operations while maintaining, and even exceeding, customer expectations. Their platform automates quality control processes by transforming internal policies into real-time, image-based verification systems. Imagine a world where every delivery is checked for accuracy, damage, and proper placement, all through AI-powered image recognition. This is the power of Captur.Advances in mobile technology and hardware now allow for sophisticated AI processing directly on devices, which is game-changing for real-time applications, especially in environments with connectivity limitations. Imagine drones equipped with AI for optimized delivery routing, or on-site quality checks conducted instantly with a smartphone. Additionally, consider a world where merchandisers can create photorealistic 3D product visualizations simply by typing in descriptions. This is quickly becoming a reality thanks to advancements in text-to-3D generation, which has the potential to revolutionize product visualization, planning, and ultimately, the customer experience.Traditional quality management tools, while effective, can be time-consuming and require specialized expertise. Large language models (LLMs) have the potential to automate and democratize these tools. Imagine a fishbone diagram automatically generated by an LLM, pinpointing the root cause of a supply chain error in seconds. This is just one example of how LLMs can empower teams to identify and address quality issues proactively.However, the journey to AI adoption is not without its challenges. Companies often grapple with questions of ownership, measurement, and risk mitigation. For leaders considering AI solutions, it is advisable to embrace prototyping. Experimenting with readily available AI tools to understand their capabilities and limitations can provide valuable insights for defining specific needs and identifying potential use cases. Evaluating the strategic importance of the problem being solved is crucial. If it's a core differentiator for the business, building a custom solution might be the right approach. However, for maintaining parity with market trends, partnering with a specialized AI provider can offer a faster and more cost-effective solution. As AI becomes increasingly integrated into daily life, customer expectations will continue to evolve. Retailers need to stay ahead of the curve by anticipating how AI can enhance the shopping experience, from personalized recommendations to intuitive search functionalities.The AI revolution is here, and it's transforming the retail value chain as it is known. By embracing this technology, unprecedented levels of quality, efficiency, and customer satisfaction can be unlocked. The future of retail is about creating seamless, intelligent, and customer-centric experiences, and AI is the key to making that vision a reality.

Ever wondered how the retail industry has evolved in response to technological advancements and global crises? Join us as we explore these seismic shifts with Professors Travis Tokar from TCU and Henry Jin from Miami University of Ohio. Discover how the leap from 3G to 4G and the proliferation of smartphones have reshaped consumer expectations and driven traditional retailers to adopt omnichannel strategies initially pioneered by e-commerce giants like Amazon. Learn about the behind-the-scenes efforts required to make these omnichannel experiences seamless and efficient for today's discerning shoppers.The pandemic has redefined retail distribution, pushing brick-and-mortar stores to innovate and embrace omni-channel models. Our guests discuss the surge in demand for rapid delivery, which has led to a boom in warehouse construction. Understand how the "Amazon effect" has set new standards for delivery expectations and how inflation and rising interest rates are impacting current spending trends. We also shed light on the competitive strategies employed by companies like Amazon and Timu, and how these moves are transforming consumer behavior and shipping preferences.Finally, get an insider's look into the intricacies of retailer return policies and the challenges of managing returns without alienating customers. Explore the concept of omni-segment retailing, which focuses on personalized and sustainable approaches to meet diverse consumer needs. From real-time order tracking to integrated supply chain management, we cover it all, providing valuable insights into the interconnected world of retail operations. Tune in for a thought-provoking discussion that promises to enrich your understanding of the ever-evolving retail landscape.

Eric's Journey into Transportation and Logistics InvestingEric enjoys the privilege of a highly engaging career. His primary responsibility involves exploring the breadth of the investment landscape to identify attractive strategies that have the potential to enhance his clients' portfolios. As a generalist, his search extends globally.His interest in transportation and logistics stemmed from networking and engaging in discussions with individuals who possess specialized knowledge in various sectors. He discovered that transportation and logistics represent a sector characterized by fragmentation and untapped potential for innovation. The global nature of this field, along with its connections to geopolitics and climate issues, sparked his intellectual curiosity.To deepen his understanding of various industries, Eric actively networks with operators and sector specialists, and consults with those who have already invested within the sector, including venture capital and private equity groups. These activities support the development of a well-considered investment thesis within his firm, in collaboration with his team.The appeal of transportation and logistics for Eric and his team lies in its fragmented and regional characteristics, the opportunity for disruption, and the vast potential for innovation. They also appreciate the sector for its potential for downside protection (depending on the specific strategy), a key consideration in their evaluation process. Some Key Points from our conversation include:- Balancing Risk and Returns in Logistics Investment Strategies- The Crucial Role of Logistics in Shaping History- Targeted Investment Sourcing: Balancing In-Depth Research with Strategic Networking- Eric's Strategic Approach to Investment Management and Time Prioritization- Anticipating Investment Risks with Pre-Mortem Analysis- Eric's Method for Market SuccessAt its core, Eric's approach involves an ongoing cycle of knowledge-building. Through deep research, insightful conversations, and strategic analysis, he aims to develop well-informed theses on promising sectors. This allows his team to confidently identify investments with attractive risk-return profiles that can generate strong performance for clients over the long run.Most importantly, Eric stresses the importance of understanding potential downsides and preparing for unpredictable outcomes. By prioritizing intellectual honesty around risks, conducting thorough due diligence, and focusing on the asymmetry of returns, he believes his firm is well-positioned to navigate the uncertainties inherent in markets. Overall, Eric is enthusiastic about the opportunities that exist for patient investors willing to do the work required to analyze complex industries like transportation and logistics. He finds such sectors rich with opportunities for those ambitious enough to uncover them.

Deming explains that fossil fuels will likely remain the world's main energy source for decades to come. This poses a tremendous dilemma that we must grapple with.Claiborne explained that global temperatures have risen about 1.8°F since pre-industrial times, coinciding with increased burning of fossil fuels as countries have industrialized. Simply stopping fossil fuel use is extremely difficult due to some key barriers.Delayed Payoff and Individual Behavior ChallengesOne major obstacle is the delayed payoff problem. If we start mitigation efforts today to reduce emissions, we likely won't see a noticeable impact on temperatures for 25-50 years based on climate modeling. It's very hard for humans to make sacrifices now without seeing tangible benefits in their lifetimes.Compounding this is the fact that individual behaviors don't make a meaningful dent - even celebrity "climate warriors" justify things like private jet travel because their personal actions don't move the needle on a global problem. These are psychological barriers.Transnational Tragedy of the CommonsClimate change is also a classic transnational "tragedy of the commons" issue. While it's a shared atmosphere, countries prioritize their own economic interests. Emissions reduction treaties like Kyoto and Paris have utterly failed to constrain CO2 levels, which have grown 79% since 1990 as nations like China have rapidly industrialized.The data starkly shows that China's coal consumption alone now accounts for 21% of global energy emissions, with hundreds more coal plants in the pipeline. China-India coal energy is driving rising CO2 levels. We in the West can't force them to change course.Limitations of Current Policy ResponsesThe current policy approach of subsidizing renewables like wind and solar has proven ineffective at materially reducing fossil fuel reliance, even as renewable generation has surged over 6x in the last decade. People aren't giving up the energy density advantages of hydrocarbons.Moreover, renewables face serious obstacles to fully displacing fossil fuels:Key population/demand centers lack sufficient renewable resourcesGrid-level battery storage is lacking to overcome intermittency issuesMassive grid upgrades would be required for full electrificationFactoring in the hidden costs of backup thermal power and battery storage makes renewables far less economically competitive than advertised.A Realistic Way ForwardGiven these realities, aspirations for a "net zero" emissions future completely eliminating fossil fuels look fanciful based on the unprecedented energy demand reductions required. Deming believes we can still make meaningful progress through a realistic, multi-pronged approach:Promote wind and solar where it makes sense based on available resources, but recognize their limitations in fully replacing hydrocarbons.Prioritize substituting natural gas for coal in power generation globally. This single step could reduce emissions 18% using existing technology.Revive investment in nuclear power as the only proven, scalable zero-carbon electricity source we have available today. Properly deal with the manageable waste issues.Redouble R&D into next-gen battery storage and other clean technologies that could be true game-changers.While not eliminating emissions entirely, this balanced approach could put us on a more viable path. We must deal rationally with the real-world constraints rather than chasing fantasies that lead to ineffective policies.

What's the real story behind the recent turmoil in the supply chain industry? Join us as we uncover the truth with Jason Miller, a full professor at Michigan State University. This episode kicks off with Jason's riveting analysis of a Census Bureau graph showing dramatic shifts in manufacturing plants' material supply since 2021. By leveraging economic theory and robust data, Jason debunks common industry myths and reveals the profound implications of these trends for retailers and logistics professionals alike.Ever wondered how the trucking industry cycles through boom and bust periods? We trace the intricate dynamics of freight demand and spot rates over the past decade, shining a spotlight on pivotal moments like the 2019 bear market and the COVID-19 surge. Jason illuminates how consumer spending spikes, influenced by government stimulus, led to current market normalization challenges. We also dissect the overlooked impacts of trade wars and domestic demand, offering a nuanced perspective on global manufacturing export trends and their ripple effects across the supply chain.Seasonality in logistics and the evolving landscape of the trucking industry take center stage as we explore the impact of fluctuating demand for frozen desserts and the growth of non-employer trucking businesses. Jason provides a compelling contrast between large carriers and owner-operators, highlighting their unique challenges and the surprising resilience of smaller firms. We wrap up with an insightful discussion on forecasting models like ARIMA, their predictive prowess, and their limitations during volatile periods. This episode is a treasure trove of expert insights for anyone navigating the complexities of the modern supply chain.

Customer Journey Orchestration: Where Technology Meets EmpathyHuman Interaction: At Build-A-Bear, 10-year-old girls reported higher satisfaction when they experienced genuine human interaction, highlighting the importance of empathy in customer engagement.Virtual Prototyping: Build-A-Bear used digital video and green screen technology to create a virtual store prototype, allowing for cost-effective testing and iteration. Involving children in the design process provided valuable insights into their preferences.Measuring Success: Balancing Data and Direct FeedbackData and Feedback: Dave emphasized the importance of combining data-driven insights with direct customer feedback to understand customer preferences and improve experiences.AI Balancing Act: Augmenting Humanity, Not Replacing ItAuthentic AI: AI should enhance, not replace, human interaction. AI-powered interactions must feel empathetic and genuine to avoid damaging brand perception.Building a Brand: Product, Values, and StorytellingExceptional Product: High-quality, differentiated products that solve real problems are the foundation of a great brand.Shared Values: Communicating core brand values builds a loyal customer base.Compelling Storytelling: Integrating storytelling into marketing efforts brings brand values to life and engages the audience.Mastering the Omnichannel Experience: Creating CohesionSeasonal Planning: Align messaging, imagery, and customer journeys across all channels through meticulous seasonal planning.Customer Journey Playbacks: Visualize customer experiences across touchpoints to identify and fix inconsistencies.Data-Driven Optimization: Use A/B and multivariate testing to optimize campaign content.Embracing the Innovator's Dilemma: Balancing Efficiency with ExplorationPortfolio Approach: Balance resources between established marketing channels and experimental initiatives to continuously test, learn, and scale new opportunities.Dave's insights reinforce that despite the evolving marketing landscape, building a successful brand remains rooted in understanding the customer, delivering exceptional value, and maintaining a human touch in all interactions.

In a recent interview, entrepreneur Josh Stanley announced the launch of FieldBook, a new venture studio in partnership with High Alpha. FieldBook aims to boost the startup ecosystem in Northwest Arkansas by building startups from scratch, providing funding, and offering a supportive environment for founders to focus on product development and customer engagement.Unlike incubators and accelerators that work with existing companies, venture studios like FieldBook identify market opportunities, validate concepts, and form teams around them. Josh, who has successfully launched six companies, moved to Northwest Arkansas after his last company was acquired, seeing potential in the region for a vibrant startup scene.FieldBook's model is influenced by successful venture studios like High Alpha, known for its digital marketing expertise and successful startups. FieldBook's funding includes $10 million from VentureWell and the Walton Family Foundation. Cartwheel, Josh's previous venture, will lead operations, while High Alpha Innovation will provide its playbook and shared services.FieldBook plans to launch five B2B SaaS companies over the next three years, collaborating with local businesses to develop tailored software solutions. It offers entrepreneurial education programs like LEAP, six-month cohorts to prepare potential founders. Launching in April, FieldBook will run three to four-month cycles with intensive sprint weeks for concept development and validation.FieldBook's establishment is a significant milestone for Northwest Arkansas, promising economic growth, job creation, and a thriving entrepreneurial ecosystem.

As the host of the Matt Waller Podcast, I have the privilege of engaging with some of the most insightful and innovative minds in the world of business and entrepreneurship. Recently, I had an enriching conversation with Jeremy Wilson, a seasoned entrepreneur and the co-founder of NewRoad Capital Partners. This dialogue not only shed light on his personal journey but also provided invaluable lessons for anyone looking to make their mark in the entrepreneurial landscape.The Genesis of an Entrepreneurial SpiritJeremy Wilson's entrepreneurial journey is a testament to the power of experience and the importance of mentorship. Starting off in the structured world of corporate finance at Walmart, Jeremy’s career trajectory took him through various roles that shaped his business acumen and leadership skills. His path is a compelling story of transformation from a corporate executive to a dynamic entrepreneur, eventually leading to the establishment of NewRoad Capital Partners, a private equity firm focusing on growth equity investments.Learning from Corporate GiantsJeremy began his career at Walmart, where he immersed himself in the world of corporate finance. His roles in corporate cash management and investor relations were not just jobs but classrooms where he absorbed lessons from some of the business world's greats. This period was crucial, as it laid the foundational skills of critical thinking, problem-solving, and team-building. It was here that Jeremy realized his true passion was not just in supporting a business but in running and operating one.The Launch of Walmart Financial ServicesAt Walmart Jeremy spearheaded the nascent Financial Services division and this was a significant turning point. It was an opportunity to apply his financial expertise in a more operational role, helping to expand Walmart's services to include more comprehensive financial offerings. This role underscored the difference between managing a P&L and running a business, a realization that profoundly influenced his career path.Embracing the Entrepreneurial ChallengeThe transition from Walmart to Rockfish marked Jeremy’s full-fledged entry into entrepreneurship. At Rockfish, he was not just part of a business but was instrumental in shaping its growth and strategic direction. This phase was about scaling operations, managing explosive growth, and learning the ropes of a true entrepreneurial venture, which prepared him for his future endeavors.Synthesizing Experiences into a VentureThe founding of NewRoad Capital Partners was the culmination of all of Jeremy's experiences. Alongside his co-founders, he envisioned a private equity firm that was both demand-driven and operator-led, focusing on sectors they were intimately familiar with, such as supply chain, retail and marketing technology investments. The firm's foundation was based on the principle of leveraging market needs and operational expertise to drive investment success.Reflecting on the Entrepreneurial JourneyReflecting on my conversation with Jeremy Wilson, it's clear that his journey offers critical insights for aspiring entrepreneurs. The transition from corporate roles to entrepreneurship, the importance of mentorship and learning from every role, and the courage to take calculated risks are all elements that define successful entrepreneurial paths. Jeremy’s story is a powerful reminder that while the entrepreneurial journey can be daunting, it is also rich with opportunities for growth and impact.See more about my discussion with Jeremy Wilson over on our website

In my career, I have been privileged to engage with some of the most knowledgeable and strategic minds in the domains of logistics, supply chain management, and retail operations. Recently, I had the opportunity to speak with Tracy Rosser, a seasoned professional with over two decades at Walmart, where he held the position of Senior Vice President of Transportation and Supply Chain. Tracy's extensive experience not only in logistics but also in various other operational roles at Walmart provides him with a unique perspective on the evolving landscape of customer service expectations and supply chain strategies.The Evolution of Customer Service and Its Impact on Supply Chain DesignIn our discussion, Tracy emphasized the rapid pace at which customer service expectations are reshaping supply chain strategies. He pointed out that everything starts with the customer and the promise a company makes to them. This promise fundamentally shapes the design of a supply chain that can deliver on customer expectations, which are increasingly driven by technology and price sensitivity.Technology and Personalization in Supply ChainThe advent of technology has introduced a new complexity to supply chain design. Customers now expect personalized service - they want products delivered when and where they desire, at the price they are willing to pay. This shift requires a supply chain that is flexible yet precise in its execution, capable of adapting to varying customer needs at any given moment.The Omni-Channel ApproachWe also discussed the concept of omni-channel supply chain management, where customers interact with a brand through multiple channels. This approach requires a high level of coordination and integration across all channels to ensure a seamless customer experience, whether the customer is shopping online from a desktop or mobile device, by telephone, or in a brick-and-mortar store.The Role of Data Analytics in Enhancing Supply Chain EfficiencyTracy and I explored the critical role of data analytics and real-time information in optimizing logistics operations. The ability to measure the impact of these technologies on logistics is crucial for businesses, especially those deploying new technologies to enhance their supply chain operations.Real-Time Data and Supply Chain Decision-MakingThe impact of real-time data on logistics cannot be overstated. It allows companies to make more informed decisions quicker, leading to enhancements in efficiency and service delivery. Tracy highlighted the importance of transforming data into actionable insights that can drive strategic decisions and improve overall supply chain performance.Building Resilience in Supply ChainsOur conversation touched on the importance of building resilience into supply chains. Tracy recommended several resources, including books by Yossi Sheffi and General Stanley McChrystal, which offer valuable insights into managing risk and preparing for unforeseen challenges.Lessons from Major DisruptionsReflecting on events like Hurricane Katrina and the COVID-19 pandemic, Tracy shared insights on how major disruptions have reshaped the understanding of supply chain resilience. He stressed the importance of proactive risk management and the need to maintain operational flexibility to quickly respond to sudden changes in the environment.See more about my discussion with Tracy Rosser over on our website

Gregoire Lehmann has had an interesting journey to becoming a principal at NewRoad Capital Partners, the Arkansas-based private equity firm. Originally from France, Lehmann was recruited to play tennis for the University of Arkansas, where he excelled as both a student-athlete and a student, earning degrees in finance and economics.After getting a taste for entrepreneurship by scaling a business with former teammates after graduation, Lehmann returned to get his MBA from the University of Arkansas. His firsthand experience building a company from the ground up drew him to the world of private equity investing."It really made me appreciate how hard it was to scale a business," Lehmann said. "So it was attractive for me to be in a position to help founders."Lehmann joined NewRoad in 2017 as the firm was launching its operating partner model and focusing its investment strategy on the retail supply chain and logistics technology sectors. Working alongside senior operating partners from companies like Walmart and J.B. Hunt provided Lehmann a crash course in supply chain operations from true industry legends."I got my supply chain training from Chris Sultemeier who ran the largest supply chain operation in the world at Walmart, and Tracy Black who was leading IT at one of the biggest carriers in North America," Lehmann explained. "I got incredibly lucky learning from them."So how does New Road identify and evaluate investment opportunities in their targeted sectors? Lehmann says the operating partner network, the firm's investor network, and methodical market mapping research all play a key role in the dealflow process.Once an opportunity is identified, Lehmann leads the detailed diligence and analysis phase for potential investments. This involves reviewing the business model, market size, competitive landscape, product-market fit, the background of the founding team, and more."The management team is very important to us," Lehmann said. "We assess not only the CEO but the full supporting team throughout diligence."New Road also taps its network to get feedback directly from companies using or considering using the startup's solution. If everything checks out, they proceed to pricing/valuation analysis and deal structuring.For companies that meet all of NewRoad's criteria, Lehmann said a few key factors determine if it's ultimately a fit:"We look at how fast they're growing, the efficiency of that growth, and making sure we can really add value by leveraging our network and expertise," he said. "Our sweet spot is enterprise companies selling into the retail ecosystem where we can open doors."Once an investment is made, Lehmann gets deeply engaged as a board observer or supporting NewRoad's operating partner board representatives. He helps portfolio companies with business development, go-to-market strategies, investor syndication efforts, and preparing for future fundraising rounds.Lehmann also discussed the importance of having direct lines to industry stakeholders to stay ahead of trends and emerging technologies. NewRoad's network provides invaluable insights into current pain points and how the landscape is shifting.Artificial intelligence enabling supply chain optimization is an area of keen interest currently. Lehmann pointed to sub-sectors like demand forecasting, inventory management, supply chain planning, supplier management, and warehouse automation as key opportunity areas.He is also tracking the digitization of supply chain documentation, citing NewRoad's investment in WaveBL which is disrupting the paper-based process around global trade documentation like bills of lading.Read more about how skills acquired from Gregoire's background have transferred into his career over on our website

I recently had the pleasure of interviewing Natalia Burgett, Chief Strategy Officer at Platform Science, a company that has been making big waves in transportation technology. The timing couldn't have been better, as they had just announced an impressive $125 million funding round.As I spoke with Natalia, I was struck by Platform Science's truly revolutionary vision of creating an open ecosystem to solve long standing inefficiencies that have plagued the transportation industry. For too long, fleets have been limited by proprietary software bundled directly with vehicle hardware, stifling flexibility and innovation."We created a future-proof place where people can swap technology in and out, change what they want to use, and have flexibility to evolve," Natalia explained. "We encourage development, choice, and innovation because it's ultimately the right thing for the customer."A key enabler of this open ecosystem is Platform Science's partnerships with major OEMs like Daimler, Paccar, and Navistar. Thanks to these collaborations, fleets can remotely access their "Virtual Vehicle" software layer using just the vehicle's VIN - no need for cumbersome aftermarket hardware installations.Enhancing the driver experience is also a major priority. Natalia described how their intelligent workflow seamlessly integrates third-party apps from their marketplace. "The driver logs in once, and our workflow connects navigation, drive cams, bypassing apps, and more. We take things off drivers' phones and onto company-managed tablets for safer, more efficient operations."What struck me as particularly empowering for fleets is their ability to fully control and customize the driver experience. Fleets can remotely provision specific app access based on driver experience levels or operational needs across their entire fleet or for smaller groups. This level of control was unheard of before.But Platform Science isn't just transforming fleet operations - they're fostering an engine of entrepreneurship and innovation across transportation. Natalia shared that "We're seeing a lot of investment and innovation, with hundreds of companies in our pipeline wanting to leverage our platform." Their open marketplace creates immense opportunities for startups and niche solution providers to drive value without wrestling with the transportation ecosystem's fragmented landscape.Fleets themselves can even deploy custom in-house software alongside third-party solutions, overcoming the constraints of closed proprietary systems. It's an open environment tailored for transportation's future.As our conversation wrapped up, I couldn't help but feel excited about the tangible impacts Platform Science aims to have across transportation and adjacent sectors. "Looking ahead, we want to expand into other segments and vehicle classes beyond our current general freight, tanker, and long-haul focus," stated Natalia. "Our flexibility allows us to enable the best solutions for each fleet's unique needs and fuel innovation across the entire mobility ecosystem."With $125 million in new funding and major industry leaders backing their vision, Platform Science is undoubtedly well-positioned to drive this transformation. I left energized about the smarter, more connected future they are building for transportation and mobility. The entire industry stands to benefit from their relentless pursuit of openness and innovation.

Arkansas has emerged as a hub for professional services firms specializing in the retail value chain (RVC). Many of these firms have achieved successful exits worth over $50 million. A new initiative called Highstep aims to build on this strength by launching 10 new AI-powered professional services startups in Arkansas over 5 months.By combining Arkansas's RVC expertise with cutting-edge AI, Highstep will create "scalable services" models with operational leverage similar to software companies. The founders will participate in an incubation program providing support, while 5 companies will receive $100,000 investments and be paired with RVC services CEO/founder mentors.Infusing generative AI into services processes from the start can transform traditional models into highly productive, repeatable revenue businesses. The goal is for Highstep to cement Arkansas's leadership in the RVC for decades by creating a launchpad for AI-powered agencies. The group of mentors and investors will amplify the model's impact.By executing this vision successfully, Highstep will catalyze a new generation of scalable, tech-enabled professional services firms and exits mirroring earlier pioneers. The next agency success stories will be inspired by the success of the mentors.

As someone who has spent years working with messy, fragmented data in the supply chain field, I was immediately intrigued by Tracer - an innovative data analytics platform helping brands make sense of their dispersed information streams. During my interview with Obele Brown-West, Tracer's president, I gained valuable insights into how this powerful tool is empowering companies across industries to take control of their data.Incubated within the marketing powerhouse VaynerMedia, Tracer was originally developed to provide clients with unprecedented visibility into their advertising performance metrics. However, as Obele explained, the founders quickly realized Tracer's potential extended far beyond just the marketing realm. By spinning it out as a separate venture, they enabled Tracer to solve widespread "data wrangling" challenges faced by businesses of all types.From our discussion, it became clear that in today's hyper-fragmented digital landscape, sprawling data remains an acute pain point for brands trying to make informed decisions. "The promise of Tracer is to actually make sense of the data so you can understand your business and grow," Obele told me. Whether grappling with advertising data, supply chain information, or other inputs, companies are struggling to consolidate and harmonize their various data sources.Tracer's unique ability to ingest, contextualize and derive insights from any type of structured data resonated deeply with my own experiences. I vividly recall the endless hours spent cleansing, normalizing and merging disparate data sets - often resulting in stale outputs by the time the heavy lifting was complete. Tracer eliminates this wasteful process by providing a single platform to bring all of a company's data together in real-time.One of the most powerful examples Obele shared was Tracer's partnership with Papa John's. By enabling visibility across national brand advertising and separate local franchisee efforts, Tracer gave the company ownership over its full data footprint for the first time. No more cobbling together spreadsheets or dealing with information delays. With an integrated, always-current view, Papa John's could optimize its complete media investment.As we discussed, this data accessibility and agility translates into a formidable competitive advantage, especially in today's economic climate. "People are trying to get to a better understanding of their investment into anything," Obele said. "They're really trying to understand...how can they make more informed decisions?" Companies able to quickly assess what's working and adapt in real-time will inevitably outperform those still flailing based on fragmented, outdated inputs.From retail media to direct-to-consumer disruption, the consumer landscape is being upended. Brands urgently need the ability to test, learn and pivot strategies with speed. I was impressed by Tracer's flexible data modeling capabilities tailored for complex environments like retail, where harmonizing point-of-sale, media, inventory and other data sources is critical.Beyond its robust data integration and business intelligence application, I also admired the relentless entrepreneurial drive pulsing through Tracer. As a former VaynerMedia build, the team embraces an ethos of continual innovation required to outpace the ever-shifting data ecosystem. I sensed a palpable energy emblematic of a startup laser-focused on solving gnarly data challenges as they emerge.

As the Senior Vice President at Emerge, a company dedicated to revolutionizing the freight procurement process, Maggie has had the privilege of witnessing firsthand the transformative impact of technology on the logistics industry.The freight procurement process has long been plagued by inefficiencies, manual processes, and a lack of transparency. Traditionally, shippers would conduct annual bidding events, relying heavily on spreadsheets, emails, and time-consuming negotiations with carriers. This approach not only consumed significant resources but also failed to adapt to the ever-changing market conditions and supply chain disruptions.In 2020, amidst the chaos of the COVID-19 pandemic, Emerge seized the opportunity to introduce their RFP (Request for Proposal) platform. This platform was designed to streamline the freight procurement process, providing shippers with a dynamic and flexible solution to source capacity, negotiate rates, and award contracts in real-time.By consolidating the procurement lifecycle into a single platform, they have eliminated the need for multiple systems, spreadsheets, and manual interventions. From benchmarking rates to scenario analysis, carrier selection, and contract execution, the platform offers a solution.One of the key differentiators of the platform is the ability to introduce new carriers to shippers. Unlike traditional procurement platforms that rely solely on incumbent carriers, Emerge provides access to their marketplace of over 45,000 asset-based trucking companies. This expanded network fosters competition, driving down costs and providing shippers with a broader range of options.Emerge's platform caters to the needs of both large and small shippers, enabling them to optimize their freight procurement processes. The scenario optimization tools empower shippers to evaluate various awarding scenarios, considering factors such as cost, service, and capacity constraints. This level of customization ensures that shippers can make informed decisions that align with their unique business objectives. For carriers, their Premier Carrier Program and Premier Partner Program offer direct access to shippers' RFPs, eliminating the need for intermediaries and associated costs.One focus of the Emerge platform is to reduce procurement time. As highlighted by Del Monte's director of transportation, their platform helped them shave off 50% of the time required for freight procurement. This efficiency allows transportation managers to focus on more strategic initiatives, driving greater value for their organizations.Automated spot pricing features streamline the procurement of ad-hoc capacity, ensuring that shippers can quickly and efficiently secure the necessary transportation resources. One of their upcoming initiatives is the development of procurement solutions tailored specifically for carriers. By reducing the complexities and burdens associated with the bidding process, they aim to create a more seamless experience for carriers.The logistics industry is ripe for innovation. By leveraging technology and data-driven insights, the freight procurement process is changing, fostering efficiency, transparency, and collaboration between shippers and carriers.As an entrepreneur in the logistics and technology industries, Maggie believes that success lies in identifying opportunities for improvement, embracing innovation, and continuously adapting to the evolving needs of the market. By actively engaging with their users, they can validate solutions and drive continuous enhancement, ensuring that they remain at the forefront of this rapidly evolving landscape.

Heather Nichols' career arc through print media, digital advertising, and influencer marketing epitomizes the evolution of marketing towards a narrative-driven approach. Starting with foundational roles at Meredith Corporation and advancing through digital ad spaces to leadership at Acorn Influence, Nichols has harnessed the transformative power of storytelling to foster deeper brand-consumer connections. At Acorn Influence, her emphasis on authentic engagement and strategic influencer partnerships underlines a commitment to impactful, story-based marketing. This approach has propelled Acorn Influence to significant growth, leveraging proprietary technology and a keen understanding of narrative engagement to set new standards in the influencer marketing sector.The rise of influencer marketing, as guided by visionaries like Nichols, signals a shift in digital marketing towards authenticity and personal engagement. Acorn Influence's success, marked by its innovative campaign management and strategic content creation, highlights the potency of influencer marketing in driving brand awareness and consumer loyalty. Nichols' journey reflects the broader industry trend towards leveraging influencers to create content that resonates deeply with audiences, ensuring that influencer marketing remains a crucial tool in the digital marketing arsenal. Her strategies underscore the importance of authenticity, strategic alignment, and a data-driven approach to optimize influencer campaigns for lasting impact.

Quinn Snacks was founded in 2010 by Kristy Lewis, who saw an opportunity to create a healthier alternative to traditional microwave popcorn. The idea stemmed from Lewis's interest in connecting what she saw at local farmers markets to the ingredients in mainstream grocery stores. Not finding a company making snacks in a cleaner, safer way, she decided to start Quinn Snacks just days after the birth of her son Quinn.Lewis's founding vision for Quinn Snacks has always been about more than just profit - she wants to improve human and planetary health through the food system. This vision guided her early commitment to full transparency around Quinn's ingredients and suppliers. On their website, consumers can trace each ingredient back to its source and learn why it's included. This farm-to-bag transparency policy holds Quinn accountable to continuously improve.Lewis is passionate about regenerative agriculture practices that improve soil health without synthetic inputs over time. She works closely with farmers to adopt practices like livestock integration, cover crops, and reduced tillage. By creating case studies of farmers transitioning to regenerative methods, Lewis hopes to demonstrate its benefits and encourage wider adoption. Her goal is large-scale change in how the US's 800+ million acres of farmland are managed.Operating from their headquarters in Boulder, Colorado, Quinn Snacks has built a community around their vision. Boulder's supportive ecosystem of organic and natural founders provided invaluable mentorship during Quinn's early challenges. Their "progress not perfection" mantra recognizes the many steps needed for meaningful improvement across vast supply chains. Quinn produces a line of popular gluten-free baked pretzels and flavored nuggets.Lewis remains steadfast in her mission after over 13 years of persevering entrepreneurship. She wants to drive broader policy and industry shifts through Quinn's successes, showing large corporations that consumers demand cleaner options. By sticking to her founding vision and continuing to adapt, Lewis has guided Quinn Snacks towards healthy, ethical, and sustainable snacking for all. Her determination signals the opportunities still ahead as Quinn works to transform food production from the farm up.

I interviewed Chris Scheid, co-founder of MyCarrier, to provide guidance for both new and experienced shippers on effectively using less-than-truckload (LTL) transportation. Scheid draws on over 15 years of experience in pricing, technology, and building the successful shipping platform MyCarrier to illuminate the ins and outs of LTL.Understanding LTL BasicsScheid begins by giving an overview of LTL as a "sweet spot" option between parcel and full truckload services. As opposed to truckload capacity, LTL utilizes a hub-and-spoke model to consolidate multiple shipments on the same trucks in a more flexible, on-demand way. This approach provides cost efficiencies for shipping 1-6 pallets without filling an entire truck.Demystifying Complex LTL PricingA challenge for newcomers is understanding LTL's density-based and variable pricing model. Scheid explains how origin zip code, destination zip code, freight class, and weight are used to determine the initial per hundredweight rate. Additional accessorial fees then apply based on various factors. He recommends negotiating upfront with carriers experienced in density pricing.Leveraging Technology for SimplicityManual processes like paper bills of lading cause significant billing errors. Scheid advocates using e-Bills of Lading and integrated platforms like MyCarrier that digitize the entire transaction end-to-end. This eliminates errors and discrepancies while saving substantial time. API integration in particular allows seamless, real-time information exchange between shipper and carrier systems.Best Practices for On-Time DeliveryFactors like lead times, level of service selection (standard vs. guaranteed delivery), and carrier communication all impact on-time performance. Shipping well in advance of due dates and designating guaranteed services for critical shipments can help mitigate risks. Entering peak season, establishing agreements with carriers and delivering promised volumes are also important.Overall, Scheid's expertise provides valuable strategies and perspective for both entrepreneurs new to LTL and experienced shippers alike. Leveraging technology, planning ahead, and collaboration with carriers are keys to success in the complex but cost-effective world of LTL shipping.

I recently had the pleasure of interviewing Sam Thompson and Adriaan Zur Muhlen from Progress Ventures. Progress Ventures is a specialty venture capital firm focused on investing in advertising, marketing, and media technology companies. During our discussion, Sam and Adriaan provided fascinating insights into how they identify disruptive innovators, support their portfolio companies, and anticipate emerging trends in digital media.Progress Ventures differentiates itself from other venture capital firms in several key ways. As former industry executives themselves, Sam and Adriaan have deep experience and networks within the marketing and advertising sectors. This allows Progress Ventures to act like "strategic investors" for their portfolio companies. Progress also takes a hands-on approach, limiting their fund size to around 14-15 companies so they can work closely with each one.In terms of identifying disruptive innovators, Progress Ventures focuses on specific themes they believe will be important, such as retail media, artificial intelligence, data/identity, and automation. They are constantly networking within their extensive industry contacts to scout out emerging companies within these themes. Progress Ventures looks for companies building platforms rather than single products, as platforms are more likely to achieve venture-level returns through disruption.Some of Progress Ventures' most notable investments exemplifying their approach include Simplify, a pioneer in local digital advertising that was acquired, and Integral Ad Science, an innovator in brand safety and ad verification. One area Progress sees ripe for disruption is the complex landscape of over 600 retail media networks. They are actively seeking a company that can consolidate and make sense of this fragmented ecosystem.Beyond just funding, Progress Ventures provides hands-on support like helping companies expand their revenues, make new hires, and establish pilot programs with strategic partners. They also maintain close relationships with later-stage investors to prime their portfolio for successful exits. Progress leverages its expertise in mergers and acquisitions to counsel companies on positioning for ideal acquirers from the start.Looking ahead, Progress Ventures sees continued focus on retail media/commerce technology, international expansion, and more "complicated" areas like data/identity that demand technical solutions. Their dual model of traditional limited partners and strategic corporate investors has allowed them to identify innovative disruptors for nearly two decades. It will be fascinating to follow their continued leadership in digital transformation.

I recently had the opportunity to speak with Gary Adams, who has over 30 years of experience in supply chain management at Walmart. Gary held many leadership roles at Walmart, including Vice President of International Logistics and Vice President of Walmart's Internet Supply Chain for Walmart International. He now serves as an operating partner for New Road Capital Partners, advising portfolio companies.During our discussion, Gary provided invaluable perspectives on how supply chain strategy has evolved over the past three decades and the role of technology. He also shared insights into challenges of scaling internationally from two to 17 markets and developing leaders. Additionally, Gary discussed how companies are now adapting to trends like e-commerce and sustainable logistics solutions.Evolution of Supply Chain Strategy and TechnologyGary noted that while the core aspects of supply chain have remained consistent, the tools and capabilities to forecast, plan and increase visibility have progressed tremendously. In the early days, capabilities were limited but technology has caught up, enabling better demand prediction, inventory optimization and replenishment processes.Scaling Internationally from Two to Seventeen MarketsWhen asked about challenges of international scaling, Gary focused on ensuring strong,confident local leaders had all resources needed. His role was providing insight from other markets and access to Walmart's vast experience. Gary stressed the importance of empowering international leaders and surrounding them with support.Adapting to E-Commerce and the FutureE-commerce created challenges around last-mile delivery, demand prediction, and inventory placement that companies continue adapting to with technology help. visibility, planning and use of AI/analytics will accelerate solutions. Gary also sees potential in voice-enabled supply chain planning.Partnering with Innovative StartupsGary now advises portfolio companies for New Road Capital like Logiwa, an e-commerce warehouse management system startup. Other companies discussed were WaveBL, digitizing bills of lading using blockchain, and NYSHEX, creating an enforceable ocean carrier/shipper contract. Gary aims to provide expertise from his career to help startups solve industry pain points.Overall, Gary offered a unique perspective on decades of supply chain evolution and international growth. His insights into past challenges without technology solutions, combined with a forward view of continual opportunities, provided valuable lessons for all levels of supply chain and logistics professionals. Gary exemplifies a career-long dedication to developing leaders who no doubt helped Walmart achieve global supply chain excellence.

The maritime transportation industry, traditionally resistant to change, has rapidly embraced digital transformation in response to the COVID-19 pandemic, as detailed in discussions with Uriel Brison of WaveBL. Historically dependent on paper documentation, particularly the Bill of Lading for shipping goods, the industry faced inefficiencies and risks like loss and fraud. WaveBL, specializing in electronic Bills of Lading using blockchain technology, marks a significant shift towards digital, enhancing security and efficiency.Approximately 20% of maritime transactions involve financial institutions with Letters of Credit, with the rest relying on the Bill of Lading between shipper and consignee. With global trade predominantly reliant on ocean shipping, efficiency is crucial. The pandemic highlighted the vulnerabilities of paper-based systems, spurring a shift to digital solutions. Ocean carriers and the Digital Container Shipping Association (DCSA) aim for full digitization by 2030, leveraging blockchain for secure document transfer.WaveBL’s innovation extends beyond electronic Bills of Lading to a Digital Document Pouch for consolidating shipping documents, aiming to streamline processes and ensure document authenticity. This digital transition also aligns with environmental goals, reducing paper use and associated CO2 emissions. Despite challenges in adoption, particularly among consignees accustomed to traditional methods, WaveBL’s efforts focus on education and demonstrating practical benefits, like increased efficiency and error reduction, to foster industry-wide acceptance of digital solutions.

Craig Harper has long been a visionary leader in the transportation industry. As someone who has successfully spearheaded strategic initiatives at JB Hunt, Harper understands both the challenges and opportunities of transitioning to cleaner fuels and technologies.Through rigorous data analysis and fact-based assessments, Harper highlights several systemic issues that will need to be addressed for widespread electrification to be viable. Chief among these is the insufficient electricity generation and grid infrastructure to support a massive increase in demand from vehicles. Harper also emphasizes that electrification requires an honest evaluation of current capabilities and limitations. While acknowledging the environmental benefits of electric transportation, Harper issues cautions regarding grid reliability and charging infrastructure gaps.By critically examining both sides of the debate, Harper aims to have an open and solutions-oriented discussion. His experience driving innovation at JB Hunt reveals how transportation companies can make meaningful environmental impacts through practices like increased intermodal shipping. Ultimately, Harper remains optimistic that challenges can be overcome through strategizing, collaboration and continued technological advancement.Key Takeaways:- Craig puts the impact into perspective by mentioning that each train can carry approximately 250 loads, equating to 250 fewer trucks on the road for each trainload moved. This staggering reduction leads to smoother traffic flow and further environmental benefits that go beyond the already substantial decrease in carbon emissions.- Harper recalls the initial concerns of truck drivers fearing the loss of long-haul mileage with the introduction of intermodal options. Contrary to their concerns, local, dedicated, and intermodal driving jobs have become highly sought-after positions. These jobs promise drivers a stable income while allowing them to be home nightly or several times a week, striking a balance between work and family life.- Through his in-depth analysis, Harper highlights the scale of upgrades required to support electric transportation on both the vehicles and infrastructure fronts. While the desire to transition is clear, successfully executing this transformation will be an enormous undertaking and requires strategizing at both a policy and industry level.- Harper's practical perspective urges moving the discussion beyond aspirational timelines to address systemic challenges. By benchmarking fact-based assessments of capabilities against mandates, policymakers can develop balanced and coordinated initiatives.- Progress will rely on continued innovation from startups to industrial giants. Companies pursuing solid-state or other next-gen batteries hold promise but require sizable R&D support. Demonstrating technical and economic viability through partnerships could attract further private capital.- Even as technology advances, strategies like increased intermodal shipping demonstrate emissions cuts are possible today through operational efficiencies. Pairing these tactics with electrification puts the industry on a steady path toward environmental goals.- Overall, Harper's multidimensional perspective illustrates that navigating transportation's energy transition demands recognizing both challenges and possibilities. By grounding debates in real-world implementation factors, stakeholders can develop synchronistically phased solutions.

Before founding New Engen, Inc., Justin Hayashi helped e-commerce giant Zulily achieve remarkable success through his mastery of performance marketing. By leveraging creativity and data, Zulily reached $1 billion in revenue under his leadership.Justin then ventured out on his own after Zulily's acquisition, offering his services pro bono to various CEOs. His expertise proved valuable, and within six months several clients had signed on, giving birth to New Engen, Inc.New Engen, Inc. practices what is now called performance marketing, which emphasizes agility, data analysis, and real-time adjustments. Two case studies demonstrate their approach:- A small cosmetics company saw gains through optimized media management and a viral eye makeup gif ad.- 1-800-Flowers.com doubled revenue in four years working with New Engen, Inc., outperforming other agencies.Justin reflects on how marketing has evolved since Zulily. Modern tools automate tasks like content formatting, while AI and data provide insights into reaching audiences like Gen Z.Building trust through reliability and having partners' interests in mind is also vital. At New Engen, Inc., human capital ensures quality client services through an ethos of authenticity.Justin explains their long-term focus contrasts a short-sighted transactional approach. Prioritizing relationships over quick wins has proven sustainable through word-of-mouth and exceeding expectations.In summary, Justin's journey displays how performance-driven creativity and putting clients first can achieve growth, even as digital marketing undergoes constant change.

Josh Jewett discusses several significant advancements in retail supply chain transparency and digital customer engagement. Supply chain transparency has been enabled by telemetry data from containers, cartons and pallets, allowing retailers to track purchase orders from origin to store. This facilitates timely delivery of merchandise and optimized operations for key sales periods like holidays.Retailers are also enhancing digital customer engagement by gathering transaction data to understand customer preferences. This enhanced insight drives changes to product assortment management and supporting supply chains.One example is Smart Sense, a division of Digi that offers monitoring devices for perishable products. The devices track temperature, impacts and humidity throughout the supply chain, providing transparency and mitigating risks.Another example is a company that has an innovative direct-to-consumer model that involves promoting products online and fulfilling orders directly from factories with minimal shipping costs. This approach reduces inventory risk by allowing rapid adaptation to consumer demand without over-investing in inventory.Josh discusses the CIO's role in strategic alignment and portfolio management during mergers. Setting corporate priorities each year involves both art and science from the board. Executives must align departmental roadmaps to high-level themes.As an executive working across departments, the CIO plays a key role in strategic alignment and resolving conflicts. The CIO advises the CEO and works with a capital committee to manage a portfolio of departmental initiatives based on criteria like revenue growth, profitability, efficiency and risk mitigation.This portfolio approach is important given limited IT resources. Josh advocates prioritizing initiatives that align most closely with corporate strategy. In retail specifically, digitizing supply chains and understanding demand have become crucial with COVID-19 and tariff disruptions. Retailers are diversifying supply chains and using technology to reduce inventory capital tied up and lower markdowns.Exciting developments include retailers monetizing first-party customer data by selling it to brands and auctioning digital ad space. Once exclusive to large brands, this practice is becoming more widespread and allows mid-tier brands to leverage data for both operations and revenue.Josh then discusses the Dollar Tree acquisition of Family Dollar, noting initial tendencies to select the best applications from each company were misguided. The decision should be driven by organizational strategy and post-merger leadership structure.Integration focused on aligning IT to the rationalization of core functions like finance and HR before moving outward. Systems were consolidated for back-office operations while maintaining separate platforms for stores to avoid disruption costs. The importance of business liaisons and managing existing technology efficiently to enable new adoption within budget is also highlighted.In conclusion, the evolving role of the CIO involves not only managing technology, but actively contributing to products, services and revenue through digital innovation and monetization of first-party data.

MFour Mobile Research provides valuable data and insights to help brands understand omnichannel shopper behavior. In this podcast interview, MFour CEO Chris St. Hilaire shares how the company captures consumer data across in-store, online, and mobile channels to paint a holistic picture of the shopper journey.Chris explains that today's shoppers engage in a constant cycle of online and offline research before making purchases. They check prices on their phones while browsing stores, compare options across retailers, and are more likely to switch brands or stores based on poor experiences. With lower loyalty to any single option, it is critical for brands to understand where shoppers are in their journey in order to effectively influence purchase decisions.MFour collects data from a large opt-in panel of consumers across the US to observe actual shopping behaviors. By tracking in-app, website, and location data with permission, they can assess key metrics like dwell time in stores and time spent in online shopping carts. Pairing this behavioral data with survey responses right after shopping experiences captures consumer sentiment while emotions are still fresh.Chris notes the importance of questions that get straight to the point using intuitive mobile survey formats with short completion times. With attention spans decreasing, brands must simplify consumer touchpoints. Artificial intelligence can also help further democratize market research by contextualizing complex data.The podcast discusses specific case studies where a bad in-store experience led shoppers to increase spending elsewhere by 22%. With inflation squeezing budgets, understanding financial pressures on consumers is paramount for retailers. MFour's insights can help CPG and retail clients better target messaging and allocate marketing budgets across the growing landscape of retail media networks. As the smartphone increasingly serves as the primary consumer interface, optimized mobile data holds the key to guiding shoppers throughout their omnichannel journeys.

Brands want to get closer to customers to understand how spending drives outcomes. Retailers have rich customer data from transactions that can help target brands' most valuable audiences. As retailers build out their media capabilities, they can sell audience access to brands across various channels like digital displays and audio. This offers brands new opportunities to reach customers beyond traditional in-store allowances.However, precisely measuring return on investment for retail media spending remains a challenge. Agencies help plan brand budgets across fragmented channels, including retail media. Brands want retailers to demonstrate that retail media spending generates incremental returns above traditional channels and in the context of overall marketing budgets.Marketing is increasingly adopting strategies based on specific audiences and using identity data and artificial intelligence. The advantage of this approach is that it facilitates optimized messaging in real-time and allows for measuring actual business outcomes instead of simply assessing reach and frequency. Retail media embodies this evolving trend. Although it's an expanding channel for brands, its incremental value over traditional channels still needs to be demonstrated.Brands want to see data showing that investing in retail media provides better or additional results compared to what they could achieve through other channels. Retailers are building out their media ecosystems to better track data and demonstrate the week-to-week results and incrementality of retail media spending to advertisers.Aggregating and integrating data from various fragmented channels presents a big challenge given the complexity. Platforms like Tracer help by seamlessly ingesting all this data at scale across markets and consumer segments to enable analytics, reporting and measuring effectiveness across channels in real-time.Tracer developed their data ingestion capabilities out of their parent company VaynerMedia, where they proved the concept. As a company singularly focused on data ingestion, Tracer is able to use ingested data for advanced analytics. Few other companies in the space specialize in data ingestion to this degree. This is why Tracer has been expanding with large enterprise clients—they have mastered the challenging area of data ingestion through automation and AI.Relevance of messaging is also key, especially when endorsed by influencers who are aware of and interested in a product. Retailers are getting better at serving more relevant ads. In this dynamic environment, marketers need tools to engage audiences through targeted, relevant messaging in real-time across different formats and channels to prove return on investment and drive business outcomes.The fundamentals of marketing remain audience insights, activation/engagement, and measurement/optimization. But new technologies now enable more granular audience data and activation across digital and streaming channels. Measurement can be tied to real business outcomes beyond just reach and frequency. A quantum shift is taking place in how marketing must think and operate to own the customer experience.Resources for this Episode: https://corporate.walmart.com/news/2023/09/19/exploring-the-potential-of-virtual-commerce

I recently had the pleasure of interviewing George Abernathy, a true legend in the transportation procurement business, for my podcast. George is a Board Member & Strategic Advisor and is the very recent past President of Emerge.Over the course of our conversation, George provided invaluable insights into this complex industry from someone with over three decades of experience. Here are a few of the many takeaways:Deregulation Revolutionized the IndustryWhen the trucking industry was deregulated in 1980, it opened the door for thousands of new carriers to enter the market. This dramatically increased competition and drove down average freight costs. Deregulation created growth and opportunities that are still being reaped.Procurement of Truckload Has Unique ChallengesThings like bid generation, carrier selection factors, and the "non-binding" nature of contracts make truckload procurement quite different from procuring other goods. George dove deep into these nuanced topics, providing helpful context for outsiders, those who are new to transportation procurement, and even seasoned professionals.Routing Guides & Waterfall Systems Carriers are assigned to lanes through a routing guide generated from the bid results. With thousands of carriers and uncertain demand, "waterfalls" allow loads to trickle down the guide if the top carriers can't accept.Spot Market VolatilityLanes with low and unpredictable volumes often fall out of routing guides, landing in the volatile spot market. George explained how platforms can better connect these loads directly with interested carriers.Technology is Enhancing ProcurementWhile challenges remain, technology has accelerated innovation in transportation procurement best practices. More nimble bidding, strategic carrier relationships, and connectivity are allowing shippers and carriers to achieve mutual success in new ways.If you listen to the podcast, you will come away with tremendous respect for the complexities of this industry and appreciation for visionaries like George Abernathy who are helping all participants optimize operations through knowledge and technology. It was a privilege to learn from such an esteemed expert.Resources for this Episode:https://onlinelibrary.wiley.com/doi/full/10.1111/jbl.12333

I recently had the pleasure of interviewing Jeffrey Nicholson, CEO and Co-Founder of Tracer, for my podcast. Tracer was originally incubated within VaynerMedia to automate reporting and analytics, and has grown into a leading data intelligence platform.Jeffrey has over 20 years of experience in digital marketing and data, previously holding leadership roles at VaynerMedia. He co-founded Tracer in 2018 to solve the challenge of bringing together fragmented data sources into a unified view.A few of the many insights from our discussion:E-commerce continues to see strong growth, with the global market projected to reach $6.3 trillion in 2023, up 10% from the prior year. China's e-commerce market is already twice the size of the US.Fashion, at $870 billion in 2022, makes up the largest segment of the booming e-commerce market. While many doubted online clothing sales early on, consumer behavior has clearly changed.Most companies deal with over 100 partners across marketing, requiring complex data processing just to understand results. Tracer aims to give independence and control over this data.Contextualization is where most "tech debt" lives - different definitions of terms like "social" between brands make reporting a challenge. Tracer provides flexibility here.Key brands have partnered with Tracer to gain independence, collaborate better across teams, and optimize investments based on unified data insights.It was fascinating to learn more about the rapidly evolving world of marketing data and analytics from an expert like Jeffrey.

On a recent episode of my podcast I talked with Dan Johnston, CEO and co-founder of WorkStep, about using data and analytics to create a better work experience for frontline employees.WorkStep’s mission is to make the frontline a better place to work through the use of technology. Dan saw firsthand as a retail and supply chain worker the challenges faced by frontline employees, including lack of career growth opportunities, scheduling issues, and feeling disconnected from decision makers.WorkStep’s software platform aims to address these challenges by collecting feedback from employees, analyzing data, and giving insights to HR and operations leaders so they can collaborate on solutions. Some key ways they do this include:Gathering sentiment data on various work themes like benefits, job satisfaction over time and across different employee groups.Using predictive analytics to determine what factors like benefits, management, job expectations actually correlate to important metrics like turnover, not just what employees report as issues.Employing AI to surface deeper insights from large amounts of employee feedback data.Empowering individual loop closure where employees who report issues directly receive a response, lowering their likelihood of turnover by 28%.Bringing HR and operations teams together around a shared data source to find collaborative solutions.As the labor market remains strained, Dan sees WorkStep continuing to evolve by bringing the right insights to leaders more proactively and automating more of the process. Their goal is to make the employee experience more adaptive based on individual context like tenure. If they can deliver better understanding and faster actions, companies can create real change for their frontline workforces.

I recently had the pleasure of interviewing Andrew Leto, CEO and founder of Emerge, a company reinventing freight procurement. Andrew has an impressive background as a serial entrepreneur in logistics and technology.Andrew has always had an entrepreneurial spirit and curiosity about business. As a young man serving in the Navy, he voraciously read every business book he could get his hands on. One book that had a profound impact on him was Think and Grow Rich by Napoleon Hill. It introduced him to ideas that helped propel him to start his first company without any money after leaving the Navy.In the interview, Andrew shared insights into the traditional freight procurement process and why it is ripe for reinvention. Most shippers rely on emailing Excel spreadsheets to a limited number of carriers when procuring transportation. This locks out the vast majority of capacity from even bidding on the freight. By bringing more carriers into the bidding process through an online platform, shippers can achieve 10-15% lower pricing simply due to increased competition.Emerge is tackling this problem by providing an online marketplace where shippers can run procurement events to source truckload, intermodal and drayage transportation. This benefits both shippers through lower rates, and carriers by accessing new freight opportunities that better fit their networks. Andrew is passionate about increasing efficiency in the highly fragmented trucking industry.The interview also delved into opportunities around more efficiently utilizing private fleets and dedicated capacity. A significant percentage of private fleet trucks travel with empty backhauls, representing underutilized capacity. Emerge's vision is to connect this capacity to other shippers' freight needs through the marketplace. This could drive down transportation costs even further across the industry.It was fascinating to gain Andrew's perspectives on reinventing an area as fundamental to supply chains as freight procurement. Emerge is pursuing an ambitious goal that could transform how transportation services are procured for the benefit of all players. Their efforts showcase the potential of leveraging technology and marketplace forces to increase efficiency in logistics.

I recently had the pleasure of interviewing Erhan Musaoglu, Founder and CEO of Logiwa, on my podcast. Logiwa provides a cloud-based fulfillment management system designed specifically for direct-to-consumer e-commerce businesses. In this post, I'll summarize key insights from our conversation on the unique challenges of e-commerce fulfillment and how Logiwa's solution helps businesses scale operations efficiently.Key Challenges of E-Commerce Fulfillment- High volume small orders: E-commerce involves processing thousands of individual customer orders per day rather than bulk shipments like traditional B2B warehousing. This requires optimized systems to handle the volume.- Labor turnover: Warehouse staff turnover is high in e-commerce, so systems need intuitive interfaces that allow quick training of new hires.- Fast delivery: Customer expectations for fast shipping means businesses need local micro-fulfillment centers. This requires systems with visibility across multiple locations.- Dynamic requirements: E-commerce models change frequently, so systems need flexibility to adapt to new bundle options, carriers etc.Requirements for Scaling E-Commerce Fulfillment- Algorithms must optimize ecommerce specific tasks like split order shipments and personalized print packaging.- Regular automatic updates to remove need for major on-site upgrades.- Must connect directly with shopping carts and sales channels for automated order management.- Must optimize shipment routing across multiple fulfillment centers to meet delivery speed needs.- Flexible automation is needed to help adapt to changing needs with configurable rules, directed put-away logic etc.The Future of E-Commerce Fulfillment Tech:Erhan sees robotics, AI, and open architecture as key next innovations. Logiwa is already integrating robotics and developing AI for tasks like onboarding and benchmarking. The API approach also allows partners to build custom solutions on top of Logiwa's powerful core e-commerce optimization engines.

The pandemic, rising inflation, and labor market volatility have disrupted traditional work life, including how companies schedule employees. I spoke with three executives from Shiftboard, a workforce scheduling solutions company, about how their technology empowers employers and employees to adapt to the new world of work.Shiftboard caters to manufacturing, healthcare, and energy industries—industries that never hit the "pause" button, even during global crises. During the pandemic, these companies struggled to attract enough shift and hourly workers to offset high turnover and absenteeism. With this constant volatility, employees’ need for flexibility grew, and scheduling complexity increased. Platforms like Shiftboard gained recognition for easing this complexity, offering greater flexibility to workers while maintaining shift coverage to keep operations running.Surveys show the majority of hourly workers believe scheduling significantly impacts their work-life balance and job satisfaction. Employers recognize this and see the need to become more competitive in attracting talent. It's about more than just pay - workers highly value flexibility and work-life balance.By automating scheduling through SaaS platforms like Shiftboard, employees gain 24/7 visibility into their work schedules, can more easily communicate with managers, and have options to pick up open shifts or trade shifts with coworkers. Increasing employees' sense of job autonomy improves engagement and reduces frustration and work-life conflicts.On the employer side, employee scheduling automation increases workforce data visibility for operations leaders, ensuring schedule compliance with safety standards, fatigue policies, and union agreements. Intelligent algorithms ease complexity from varied shift requirements, flex labor pools, and contingent workers. After implementing preference-based overtime scheduling through Shiftboard, one client experienced a 47% drop in absenteeism.The key takeaway is to prioritize listening to your workforce and continually adapting to meet the needs of employees. Surveys can identify areas where technology can alleviate scheduling issues and enhance job satisfaction. In today's competitive landscape, embracing digital transformation of employee scheduling is no longer optional—it's essential to becoming an employer of choice.

Shaveer Mirpuri, founder and CEO of Insite AI, recently appeared on The Matt Waller Podcast to discuss how artificial intelligence is transforming the consumer brands and retail industries. Insite AI, founded in 2019, uses AI to help major CPG companies optimize their retail channels, manage relationships, and drive revenue growth.Some key takeaways from the interview:Insight AI has achieved remarkable growth under Shaveer's leadership, tripling revenue in just 15 months. He attributes this success to 1) developing a great product with advanced AI capabilities, 2) bringing on smart people from CPG and retail who deeply understand the industry problems, and 3) establishing credibility and trust with customers.The $19 million Series A funding raised last year will help educate consumer brands on their AI strategy and support their organizational change management as they adopt these new technologies.Major opportunities for AI in consumer brands/retail include better data harmonization, more accurate demand forecasting, optimization of pricing/promotions/assortment, and interpretable AI to explain the recommendations.Attracting top AI talent requires having the data and giving them the freedom to lead real change. Retention is about empowering them as founders and tying them to the vision, not just the company.Partnering with large CPGs requires mapping their organizational structure and team motivations to orchestrate how they work together and adopt new solutions.As a leader, Shaveer deals with the stress by focusing obsessively on how to accelerate explosive growth and getting passionately obsessed with problem-solving.The interview provides fascinating insights into how AI can empower CPG brands and retailers to make better data-driven decisions. Shaveer makes a compelling case for how these technologies will transform go-to-market strategies, negotiations, and operational efficiencies in the near future.

Where the future of the retail value chain is being built.As a supply chain management professor, consultant, and investor, my mission is to bridge the gap between academia, industry, and investment by advancing the understanding and implementation of innovative logistics and ecommerce technologies. I aim to foster effective and efficient supply chains, creating value for businesses, investors, students, the university, and society.