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Craig Fuller - Supply Chains: A Peek Behind the Logistics Curtain
Manage episode 328043684 series 2858945
المحتوى المقدم من James Vermillion. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرةً بواسطة James Vermillion أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
Logistics and supply chains are usually the last things on our minds. We expect shelves to be stocked with our favorite foods and gadgets, and packages to arrive at our doorsteps within days of ordering them online. But recent disruptions have created a new interest in these typically disregarded topics. In this episode of Bulls, Bears, and Bourbon we take a peek behind the logistics curtain to answer some of the common questions that have been asked over the past year.
Craig Fuller is the founder and CEO of FreightWaves, the leading provider of global supply chain market intelligence and news. Prior to FreightWaves, Craig was the founder of TransCard, a major provider of fleet fuel and debit cards. He is also the CEO of FLYING Magazine, the world’s most widely read aviation magazine. Previously, Fuller founded the Xpress Direct division of US Xpress, the leading provider of on-demand expedited truckload services. He holds a BBA from Baylor University and is a private pilot. He lives with his wife and 5 kids in Chattanooga, TN. Enjoy this educational, wide-ranging discussion on the wild world of logistics.
[1:32] – Introducing Craig Fuller
[5:25] – The Trucker Shortage Lie – “the driver shortage is a lie – it never existed.” “The number of new trucking fleets to enter the market has never been higher.”
[13:22] – Trucking Recession– “you have this massive bubble, like you have in a lot of markets, that’s encouraged a lot of new trucking companies to join the market – they’ve been seeing these rates.”
[15:40] – Diesel Prices – “Diesel prices are up $1.85/gallon with no end in sight. So, we’ve seen an acceleration of diesel prices by about 60%. And just to put that into perspective, diesel is the number one variable cost of trucking companies.”
[23:00] –China– “They have the instrument of zero-tolerance for Covid, which means they will shutter their entire economy and basically jail and imprison their own people in their own homes until they sort of get control of Covid and stop the spread.”
“They are starving global markets, global consumers, of goods in addition to shutting down their cities…we can only watch this in shock and dismay.”
“We could see by the end of May, the volume of products leaving China being about half.”
[33:35] – Normal – “we are not going back to normal. We have to stop looking at what normal means. The world has changed.”
“The energy crisis is playing out right in front of our eyes…then you have the supply chain crisis…we’re not going back to the way things were.”
[48:40] Freedom Trade– “You have to ask yourself should be thinking about in the future, a freedom trade – we’re only going to trade with partners that are on a level playing field and treat ESG issues as we do in the West.”
[58:50] –Logistics Tech – “the world has changed because of these logistics technologies that were driven by capitalism and American orientation of global markets…it’s not digitizing the information systems and payments systems.”
[1:06:50] – What does wealth mean? – “wealth is different than what’s in your bank account. Wealth is having all parts of your life satisfied. So I know people who make $40,000 a year and are content…then you have other people who make millions of dollars and are always stressed about money. They’re sacrificing time with their families…that isn’t wealth to me.”
[1:10:40] – What’s one piece of advice you’d give yourself if you could go back in time? – “The two most important decisions you’ll make in life are who do you network with and how do you network…and who their partners are in life (their spouse).”
Links:
www.vermillionprivatewealth.com
https://twitter.com/FreightAlley
**The information in this podcast is educational and general in nature and does not take into consideration the listener’s personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional before making a final decision. Thanks for listening.
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