In an article recently published by FreightWaves, Brad Jacobs shares his fresh perspectives on logistics and business. The Executive Chairman of XPO Logistics, behind the construction of billion-dollar companies, presents 3 key principles. What does he think everyone working in logistics should take to heart?
1. Technology investment planning
Jacobs emphasizes the importance of new technologies. They are a megatrend whose influence on the industry is constantly growing. He considers their integration into the business model to be the key to success. It also highlights how important it is to invest in technology if you want to make a lot of money in any industry. Examples are his companies XPO, GXO, and RXO. The vast majority of transactions they carry out are digitized. Jacobs reports that 96% of assignments are completed by companies using automation. These include, among other things, electronic orders, shipment tracking, automatic warehouse operations, contactless transactions, digitized administrative processes, and the like.
2. The teamwork of dreams
However, it is also necessary to pay attention to the human aspect of business, the importance of corporate culture to talent recruitment and the structure of business meetings. The businessman emphasizes that building a team of intelligent, hard-working people from different backgrounds and with different opinions is essential for growth. Employee care, communication, engagement, and problem solving must be emphasized in technology-filled logistics to keep teams loyal and wanting to improve.
3. Leading with love
Based on his book How to Make a Few Billion Dollars, the entrepreneur emphasizes the need for love and empathy in the business world as well. According to him, they are essential for maintaining a positive and productive work environment, even in challenging times. This approach supports the importance of emotional intelligence and careful management of human resources, wherever stress and challenges are the order of the day.
Source: https://www.freightwaves.com/news/3-things-the-logistics-industry- can-learn-from-brad-jacobs-new-book