Keynote: How New Lending and Working Capital Models Can Improve Supply Chain Efficiency and Carrier Financial Health

This is a summary of FreightWaves’ fireside chat Supply Chain Meets FinTech event Wednesday.

FIREPLACE CHAT TOPIC: How new lending and working capital models can improve supply chain efficiency and the financial health of carriers

DETAILS: Melissa Foreman, President of TriumphPay, speaks with Anne Reinke, President and CEO of the Transportation Intermediary Association, and Mark Baksa, President and CEO of the Council of Supply Chain Management Professionals (CSCMP) about the importance of payment visibility across all transportation functions. the process.

PERFORMED: Ann Reinke and Mark Baxa

BIO: Reinke has been president and CEO of the Transportation Brokers Association for nearly two years. After graduating from Wake Forest Law School, she began working for CSX as Director of Federal Affairs. She later worked her way up to vice president of government relations and spent 16 years at CSX. She then spent a year and a half as Deputy Assistant Secretary for Intergovernmental and Congressional Affairs at the US Department of Transportation.

Baxa has been the president and CEO of CSCMP for a year and a half. He has been with CSCMP for over 23 years, and prior to that has extensive experience in supply chain, from global procurement strategy at Monsanto Co. to the founder and CEO of FerniaCreek LLC.

REINKE’S KEY QUOTES:

“Our members are motivated by relationships and innovation, so they do everything they can to maintain relationships between carriers and shippers, and then to innovate as these payment systems talk to each other. We can bridge the gap when the shipper, carrier and broker speak the same financial language. Our only goal is to make transportation seamless.”

KEY QUOTES FROM BAXA:

“We are looking for ways to bring efficiency and intelligence back into our supply chain. We are in a reset period as a result of what we have been through and are still going through. There’s still a lot out of sync in our supply chains in many ways, and the brunt of that is on transportation, because shipping is the last part.”

“We don’t win with our ideas; we win when two minds come together and create something no one has done before.”