420: LogTech Live: Logistics Technology in the $3.6 Billion Drayage Market
Eric Johnson of LogTech Live talks about the new FMC detention and demurrage billing rules - the changes, challenges & what they mean for businesses.\xa0\xa0
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IN THIS EPISODE WE DISCUSS:\xa0
[06.58] The latest from Eric \u2013 an update from Home Delivery World, two upcoming events, and how to get involved with the Blended Pledge.
\u201cRemember when everyone said \u2018when the pandemic is over, everything will slow down\u2019 \u2013 it didn\u2019t, it never slows down!\u201d
[11.52] The big industry news of the week.
\u201cNow we\u2019ve had Convoy and Transfix, within 6 months of each other, become defunct as brokerage brands\u2026 A lot of people are talking about whether the digital brokerage model worked on its own (as it was pitched to VC\u2019s a decade ago).\u201d
[17.31] An introduction to Eric\u2019s guest, Alexandra Griffon, and her company BlueCargo.
\u201cHistorically truckers and drayage providers were the ones risking the per diem, detention, and demurrage costs, but this has changed. Shippers want to internalize this cost, and have control\u2026 Between 2020 and 2022, US importers, forwarders, and drayage companies paid $15 billion \u2013 that\u2019s the lack of control they don\u2019t want to go back to!\u201d
[23.35] The new detention and demurrage rules issued by the FMC \u2013 the big changes and what they mean for businesses.
\u201cNow it\u2019s 30 days to issue an invoice, and another 30 days to issue a dispute or challenge \u2013 it\u2019s a very strict timeline. And there are new data requirements that have to be on an invoice for it to be deemed valid.\u201d
[33.03] From data to the burden of responsibility, the biggest challenges with the new rules and regulations.
\u201cIt\u2019s very hard to make sure your data is accurate. Just something as simple as the start or end date sometimes varies based on the source\u2026. Having the data is a good thing\u2026 but there are lots of gray areas.\u201d
[47.16] When the new rules took effect, and how the dates impact what you can dispute now.
\u201cYou need to engage to get your own access to the original source of data.\u201d
[50.57] Alexandra\u2019s favorite song.
[53.18] Eric\u2019s best \u2018Dad Joke\u2019 of the week!
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RESOURCES AND LINKS MENTIONED:\xa0
Explore more industry news over on Journal of Commerce, and connect with Eric on LinkedIn.
If you enjoyed the show, there are plenty more episodes of LogTech Live to explore. And if you want to hear even more from the super-knowledgeable Eric Johnson, you can also catch him on episode 238 and episode 300.