WTC bullish price movement, page-109

Hand on heart, most of the industry is still running off either manual emails, actual pen and paper forms, signatures, writing down what items are in each box, how many boxes are in a carton, how many cartons are in these pallets, and how many pallets are in the container, and most of the time one container is shared by multiple senders (to save costs), they are headed for different destinations, some move on different incoterms, are protected by different insurers, some items are duty-free, some are dutiable, some are duty-exempt if there is a Free-Trade-Agreement between a certain number of countries, some are exceptions to those exemptions.

AND the kicker is I only consult for consumer retail, seemingly simple things like importing Chairs are complex enough, with wood from certain countries requiring treatment, some not, some have exemptions, some are exceptions to the exemptions.

I have no idea how complex cross-border-logistics for other industries could be (fresh food, raw meat, grains, alcohol, unprocessed food, post-processed food, liquor <5% alcohol, liquor >5% alcohol, agriculture tools, mining tools, automotive tools, medical devices, medicine and drugs).I honestly am in awe that there is a company that is actually trying to resolve this. Simply explaining how backwards the industry is riles me up.

I am very glad that Wisetech is trying to digitize the logistics industry, who are still very much in the old world and drastically needs to catch up. Just like the example I gave, I can track my Pizza all the time. Sometimes, I cannot track an entire massive container - my shipping agents won't know where they are until they make 6 phone calls asking various parties "were you the last one who handled it? do you know the status?".

It's incredulous.