{"version":"1.0.0","segments":[{"startTime":2.7,"endTime":6.12,"body":"You are now listening to the"},{"startTime":2.7,"endTime":6.12,"body":"supply chain secrets podcast"},{"startTime":6.24,"endTime":8.97,"body":"with Brian Moses and Don Davis."},{"startTime":9.66,"endTime":10.35,"body":"Well, hi everyone."},{"startTime":10.38,"endTime":13.68,"body":"I'm Brian, most SVP of retail"},{"startTime":10.38,"endTime":13.68,"body":"strategy at NYSHEX and former"},{"startTime":13.68,"endTime":15.39,"body":"VP of supply chain at Walmart."},{"startTime":16.28,"endTime":17.24,"body":"And I'm Don Davis."},{"startTime":17.27,"endTime":20.89,"body":"I'm the senior vice president of"},{"startTime":17.27,"endTime":20.89,"body":"carrier strategy here at NYSHEX,"},{"startTime":21.2,"endTime":22.85,"body":"former executive Hapag-Lloyd and CMA."},{"startTime":23.78,"endTime":26.93,"body":"And we're back again today to"},{"startTime":23.78,"endTime":26.93,"body":"discuss supply chain secrets."},{"startTime":27.535,"endTime":30.595,"body":"Our topic today is two"},{"startTime":27.535,"endTime":30.595,"body":"way committed contracts."},{"startTime":31.345,"endTime":34.225,"body":"Now, last week, Don, I started"},{"startTime":31.345,"endTime":34.225,"body":"our podcast with some headlines"},{"startTime":34.225,"endTime":35.365,"body":"to start the discussion."},{"startTime":35.365,"endTime":38.155,"body":"And I think I'm going to do the"},{"startTime":35.365,"endTime":38.155,"body":"same thing this week, because"},{"startTime":38.155,"endTime":40.415,"body":"there was no shortage of headlines."},{"startTime":40.675,"endTime":45.085,"body":"This past week was the TPM or"},{"startTime":40.675,"endTime":45.085,"body":"transpacific maritime conference."},{"startTime":45.685,"endTime":48.625,"body":"For those of you that don't know"},{"startTime":45.685,"endTime":48.625,"body":"that's one of the key industry events"},{"startTime":48.625,"endTime":51.535,"body":"that bring shippers and carriers"},{"startTime":48.625,"endTime":51.535,"body":"together to talk about current events,"},{"startTime":51.535,"endTime":53.485,"body":"market dynamics, and new innovations."},{"startTime":53.655,"endTime":54.735,"body":"That are in the marketplace."},{"startTime":55.305,"endTime":58.815,"body":"So Don, one of the key innovations"},{"startTime":55.305,"endTime":58.815,"body":"that's being discussed and it's our"},{"startTime":58.815,"endTime":60.824,"body":"topic today is committed contracts."},{"startTime":60.945,"endTime":64.694,"body":"So both the keynote shipper addresses"},{"startTime":60.945,"endTime":64.694,"body":"that typically lead off the conference."},{"startTime":64.694,"endTime":68.354,"body":"On the first day, they ask"},{"startTime":64.694,"endTime":68.354,"body":"an importer and an exporter."},{"startTime":69.0,"endTime":71.47,"body":"From the shipper side to talk"},{"startTime":69.0,"endTime":71.47,"body":"about what they're considering"},{"startTime":71.96,"endTime":74.91,"body":"in terms of the upcoming year"},{"startTime":71.96,"endTime":74.91,"body":"and their contracting process."},{"startTime":74.91,"endTime":79.86,"body":"And both shippers said that they're"},{"startTime":74.91,"endTime":79.86,"body":"either using  or considering checks"},{"startTime":79.89,"endTime":83.43,"body":"or those types of committed products,"},{"startTime":79.89,"endTime":83.43,"body":"which was interesting to hear."},{"startTime":84.195,"endTime":87.285,"body":"But I think what was more interesting"},{"startTime":84.195,"endTime":87.285,"body":"was is that then you had the"},{"startTime":87.285,"endTime":91.095,"body":"carrier executives talking about"},{"startTime":87.285,"endTime":91.095,"body":"their strategies for contracting"},{"startTime":91.095,"endTime":95.865,"body":"and what do you know, actually the"},{"startTime":91.095,"endTime":95.865,"body":"two matched after the year of 2020."},{"startTime":95.865,"endTime":98.895,"body":"I'm not sure that shippers and"},{"startTime":95.865,"endTime":98.895,"body":"carriers agree on many things, but"},{"startTime":99.405,"endTime":103.544,"body":"actually the Maersk executive said"},{"startTime":99.405,"endTime":103.544,"body":"that they expect a hundred percent"},{"startTime":103.544,"endTime":107.145,"body":"of their business to be based on"},{"startTime":103.544,"endTime":107.145,"body":"two way commitments in the future."},{"startTime":107.294,"endTime":109.485,"body":"So there must be something to it."},{"startTime":110.035,"endTime":111.405,"body":"What do you what do you think about it?"},{"startTime":112.18,"endTime":116.12,"body":"Yeah, I think it's so interesting to"},{"startTime":112.18,"endTime":116.12,"body":"see the way the industry's evolved."},{"startTime":116.23,"endTime":122.37,"body":"I think it just brings about a number of,"},{"startTime":116.23,"endTime":122.37,"body":"of questions I have in my mind because"},{"startTime":123.71,"endTime":127.57,"body":"you know, I think that this is something"},{"startTime":123.71,"endTime":127.57,"body":"that has been, been talked about."},{"startTime":127.57,"endTime":129.13,"body":"And if you look at other."},{"startTime":129.884,"endTime":135.644,"body":"Industries other markets, you can"},{"startTime":129.884,"endTime":135.644,"body":"see that there are some level of"},{"startTime":135.704,"endTime":140.355,"body":"contract commitments and it's, kind"},{"startTime":135.704,"endTime":140.355,"body":"of even strange to think about doing"},{"startTime":140.355,"endTime":141.375,"body":"something without a commitment."},{"startTime":141.375,"endTime":144.885,"body":"And so let's talk about like"},{"startTime":141.375,"endTime":144.885,"body":"the airline industry, right?"},{"startTime":145.185,"endTime":149.505,"body":"That if you buy an airline"},{"startTime":145.185,"endTime":149.505,"body":"ticket, it's pretty much upfront."},{"startTime":149.565,"endTime":151.725,"body":"It's something you do"},{"startTime":149.565,"endTime":151.725,"body":"on a committed basis."},{"startTime":152.024,"endTime":155.174,"body":"And I think it was the very"},{"startTime":152.024,"endTime":155.174,"body":"first workshop I went to for"},{"startTime":155.174,"endTime":157.815,"body":"NYSHEX which is way back in 2016."},{"startTime":158.429,"endTime":161.309,"body":"It's one of the things we talked about"},{"startTime":158.429,"endTime":161.309,"body":"was, the airline industry and how"},{"startTime":161.309,"endTime":166.16,"body":"American airlines was the first to have"},{"startTime":161.309,"endTime":166.16,"body":"this sort of like committed solution."},{"startTime":167.16,"endTime":171.78,"body":"And, if you think about it, It"},{"startTime":167.16,"endTime":171.78,"body":"makes sense why they did that."},{"startTime":171.84,"endTime":172.23,"body":"Right."},{"startTime":172.35,"endTime":175.05,"body":"They're very similar in a lot of"},{"startTime":172.35,"endTime":175.05,"body":"ways, they, have an asset, they"},{"startTime":175.05,"endTime":177.69,"body":"have planes, they have to make sure"},{"startTime":175.05,"endTime":177.69,"body":"they're in certain places, they"},{"startTime":177.69,"endTime":179.16,"body":"want to make sure they're full."},{"startTime":179.73,"endTime":185.01,"body":"And I think container shipping is actually"},{"startTime":179.73,"endTime":185.01,"body":"more complex than, aircraft, because"},{"startTime":185.31,"endTime":189.48,"body":"it would be a little bit like if you"},{"startTime":185.31,"endTime":189.48,"body":"decouple the seats from the airplane and"},{"startTime":189.48,"endTime":190.98,"body":"you said, okay, we have a plane here."},{"startTime":191.475,"endTime":195.225,"body":"But all Brian, sorry, the plane's here,"},{"startTime":191.475,"endTime":195.225,"body":"but we don't have a physical seat for"},{"startTime":195.225,"endTime":196.995,"body":"you because those come separately."},{"startTime":197.235,"endTime":199.965,"body":"I mean, it's, that's what you have to"},{"startTime":197.235,"endTime":199.965,"body":"think about with the, with container"},{"startTime":199.965,"endTime":204.105,"body":"shipping and containers, that"},{"startTime":199.965,"endTime":204.105,"body":"those there's two components to it,"},{"startTime":204.105,"endTime":209.385,"body":"which make it even more complicated"},{"startTime":204.105,"endTime":209.385,"body":"which is why I think now that rate"},{"startTime":209.385,"endTime":210.795,"body":"levels have started to improve."},{"startTime":211.125,"endTime":213.915,"body":"There's a lot of thought around"},{"startTime":211.125,"endTime":213.915,"body":"like, Hey, it's a lot easier"},{"startTime":213.915,"endTime":216.915,"body":"for me to commit because I'm not"},{"startTime":213.915,"endTime":216.915,"body":"scraping by with these low margins."},{"startTime":217.665,"endTime":218.055,"body":"Yeah."},{"startTime":218.055,"endTime":220.364,"body":"I mean, I think it's"},{"startTime":218.055,"endTime":220.364,"body":"an interesting example."},{"startTime":220.435,"endTime":223.515,"body":"And first of all, just let's"},{"startTime":220.435,"endTime":223.515,"body":"kind of out of the gate."},{"startTime":223.545,"endTime":228.165,"body":"I mean, in our own words what"},{"startTime":223.545,"endTime":228.165,"body":"committed contracts mean to us?"},{"startTime":228.195,"endTime":230.954,"body":"Like for me, I think it's"},{"startTime":228.195,"endTime":230.954,"body":"exactly what it claims to be."},{"startTime":231.015,"endTime":231.315,"body":"Right."},{"startTime":231.315,"endTime":236.145,"body":"I mean, the shipper is willing to"},{"startTime":231.315,"endTime":236.145,"body":"commit regular volumes, and in exchange"},{"startTime":236.165,"endTime":240.525,"body":"the carrier gonna give guaranteed"},{"startTime":236.165,"endTime":240.525,"body":"space or equipment or, or whatever,"},{"startTime":240.525,"endTime":242.265,"body":"the, the terms of that agreement are."},{"startTime":242.85,"endTime":246.75,"body":"But either way, both sides have some"},{"startTime":242.85,"endTime":246.75,"body":"skin in the game, essentially speaking."},{"startTime":246.75,"endTime":247.04,"body":"Right."},{"startTime":247.04,"endTime":250.5,"body":"So, one side is going to do"},{"startTime":247.04,"endTime":250.5,"body":"what they say the other side"},{"startTime":250.5,"endTime":251.46,"body":"is going to do what they say."},{"startTime":251.46,"endTime":254.76,"body":"And then if not, there's, there's"},{"startTime":251.46,"endTime":254.76,"body":"probably some kind of penalty or default."},{"startTime":254.76,"endTime":258.75,"body":"I mean, in your airline example, a lot"},{"startTime":254.76,"endTime":258.75,"body":"of times you buy a ticket and if you"},{"startTime":258.75,"endTime":263.07,"body":"choose to move to a different, flight,"},{"startTime":258.75,"endTime":263.07,"body":"you know, there could be a charge"},{"startTime":263.07,"endTime":264.45,"body":"associated with something like that."},{"startTime":265.04,"endTime":265.43,"body":"Right?"},{"startTime":265.82,"endTime":266.09,"body":"Yeah."},{"startTime":266.12,"endTime":268.87,"body":"And, and when you think about"},{"startTime":266.12,"endTime":268.87,"body":"airlines, you're not even."},{"startTime":269.234,"endTime":272.625,"body":"Buying, unless you're pretty certain"},{"startTime":269.234,"endTime":272.625,"body":"that something's going to happen, right?"},{"startTime":272.625,"endTime":276.255,"body":"If you have a family of four, you're"},{"startTime":272.625,"endTime":276.255,"body":"not going to just make that, make"},{"startTime":276.255,"endTime":279.375,"body":"that purchase without having some"},{"startTime":276.255,"endTime":279.375,"body":"certainty around what you're doing."},{"startTime":279.734,"endTime":283.484,"body":"Because I think we've all experienced"},{"startTime":279.734,"endTime":283.484,"body":"some level of headaches, trying to"},{"startTime":283.484,"endTime":286.905,"body":"make changes with airlines and fees"},{"startTime":283.484,"endTime":286.905,"body":"and things associated with that."},{"startTime":287.114,"endTime":291.294,"body":"But again, it's, they're trying to manage"},{"startTime":287.114,"endTime":291.294,"body":"their, capacity and, and similarly,"},{"startTime":292.005,"endTime":295.065,"body":"carriers have a similar burden and."},{"startTime":295.455,"endTime":299.295,"body":"When I think about what"},{"startTime":295.455,"endTime":299.295,"body":"two way commitments mean?"},{"startTime":299.895,"endTime":304.695,"body":"I think it means that both parties are"},{"startTime":299.895,"endTime":304.695,"body":"creating an agreement where there's"},{"startTime":304.695,"endTime":309.375,"body":"clear terms and that they're both"},{"startTime":304.695,"endTime":309.375,"body":"expecting something from the other"},{"startTime":309.375,"endTime":310.815,"body":"party, which is defined upfront."},{"startTime":311.505,"endTime":314.175,"body":"And then if they don't deliver"},{"startTime":311.505,"endTime":314.175,"body":"that, there's going to be"},{"startTime":314.175,"endTime":315.525,"body":"some punitive component to it."},{"startTime":315.555,"endTime":319.305,"body":"And I think it's important"},{"startTime":315.555,"endTime":319.305,"body":"for people to understand that."},{"startTime":319.65,"endTime":324.09,"body":"These type of contracts are"},{"startTime":319.65,"endTime":324.09,"body":"designed to bring success."},{"startTime":324.12,"endTime":326.31,"body":"It's not designed to be punitive."},{"startTime":326.34,"endTime":330.96,"body":"No, one's trying to make money off"},{"startTime":326.34,"endTime":330.96,"body":"the penalties, but it's trying to one"},{"startTime":330.99,"endTime":336.72,"body":"define the terms and to create some"},{"startTime":330.99,"endTime":336.72,"body":"parameters around what a penalty means."},{"startTime":336.78,"endTime":338.73,"body":"And when those penalties"},{"startTime":336.78,"endTime":338.73,"body":"are going to be enforced."},{"startTime":339.435,"endTime":339.735,"body":"Yeah."},{"startTime":339.735,"endTime":345.315,"body":"I mean to me while I think about a"},{"startTime":339.735,"endTime":345.315,"body":"commitment being customizable between a"},{"startTime":345.315,"endTime":347.835,"body":"shipper and a carrier, because I think"},{"startTime":345.315,"endTime":347.835,"body":"there's all kinds of things that you"},{"startTime":347.835,"endTime":350.715,"body":"could create commitments around the key."},{"startTime":350.715,"endTime":354.945,"body":"As you said, our expectations"},{"startTime":350.715,"endTime":354.945,"body":"are clear, the terms are."},{"startTime":355.02,"endTime":356.88,"body":"Crystal clear to both parties."},{"startTime":356.88,"endTime":360.36,"body":"And to me, it's the detailed"},{"startTime":356.88,"endTime":360.36,"body":"framework like that, that allows"},{"startTime":360.36,"endTime":362.58,"body":"performance to be easily measured."},{"startTime":362.58,"endTime":363.78,"body":"And then to your point, right?"},{"startTime":363.78,"endTime":365.85,"body":"I mean, it's set up for mutual success."},{"startTime":365.88,"endTime":369.81,"body":"There's obviously accountability on"},{"startTime":365.88,"endTime":369.81,"body":"both sides, but when you have that"},{"startTime":369.81,"endTime":374.55,"body":"framework, it's easy to monitor and"},{"startTime":369.81,"endTime":374.55,"body":"it's easy to diagnose where exceptions"},{"startTime":374.55,"endTime":376.02,"body":"do occur and you can fix them."},{"startTime":377.33,"endTime":377.87,"body":"Yeah."},{"startTime":377.9,"endTime":381.95,"body":"And I think getting away from"},{"startTime":377.9,"endTime":381.95,"body":"these, the contracts as they"},{"startTime":381.95,"endTime":383.12,"body":"are structured today, which."},{"startTime":383.58,"endTime":387.06,"body":"To me, it makes sense to address"},{"startTime":383.58,"endTime":387.06,"body":"this point because to have an MQC"},{"startTime":387.06,"endTime":391.17,"body":"divided by 52, and that equals"},{"startTime":387.06,"endTime":391.17,"body":"your available capacity is, is"},{"startTime":391.29,"endTime":392.7,"body":"difficult for both parties, right?"},{"startTime":392.7,"endTime":394.59,"body":"Because no one really"},{"startTime":392.7,"endTime":394.59,"body":"knows what that means."},{"startTime":394.95,"endTime":399.78,"body":"And I even think from an MQC commitment"},{"startTime":394.95,"endTime":399.78,"body":"standpoint, I mean, what do you do if you"},{"startTime":399.78,"endTime":404.88,"body":"know, you have volume fluctuations, do you"},{"startTime":399.78,"endTime":404.88,"body":"go for the highest number or do you go for"},{"startTime":404.88,"endTime":407.909,"body":"somewhere in the middle and average, but"},{"startTime":404.88,"endTime":407.909,"body":"then what do you do when you have these."},{"startTime":408.36,"endTime":409.62,"body":"Surges and things like that."},{"startTime":409.62,"endTime":413.16,"body":"So I think it is challenging for shippers,"},{"startTime":409.62,"endTime":413.16,"body":"but it's also challenging for the"},{"startTime":413.16,"endTime":416.34,"body":"carriers because they can't make their"},{"startTime":413.16,"endTime":416.34,"body":"container ships bigger from one week to"},{"startTime":416.34,"endTime":421.29,"body":"the next it can't move containers from"},{"startTime":416.34,"endTime":421.29,"body":"one country to another immediately."},{"startTime":421.47,"endTime":421.98,"body":"So."},{"startTime":422.34,"endTime":424.92,"body":"It's it's certainly"},{"startTime":422.34,"endTime":424.92,"body":"challenging for both sides."},{"startTime":424.92,"endTime":428.22,"body":"And that's why I think it just makes"},{"startTime":424.92,"endTime":428.22,"body":"a ton of sense to be up front with"},{"startTime":428.22,"endTime":432.39,"body":"what you can do and then whatever"},{"startTime":428.22,"endTime":432.39,"body":"else you're unsure of let that flow."},{"startTime":432.57,"endTime":432.9,"body":"Right."},{"startTime":432.93,"endTime":436.5,"body":"Cause then the carriers can address"},{"startTime":432.93,"endTime":436.5,"body":"that with their capability to handle"},{"startTime":436.5,"endTime":440.52,"body":"those things, which were unknown"},{"startTime":436.5,"endTime":440.52,"body":"three months ago, when you made the"},{"startTime":440.52,"endTime":441.09,"body":"contract."},{"startTime":442.215,"endTime":445.215,"body":"Well, and I think as the marketplace"},{"startTime":442.215,"endTime":445.215,"body":"just gets more and more dynamic, I"},{"startTime":445.215,"endTime":449.355,"body":"think this is why both shippers and"},{"startTime":445.215,"endTime":449.355,"body":"carriers are looking at these types of"},{"startTime":449.355,"endTime":451.995,"body":"solutions to help solve big problems."},{"startTime":451.995,"endTime":452.295,"body":"Right?"},{"startTime":452.295,"endTime":456.135,"body":"I mean, obviously to your point, you"},{"startTime":452.295,"endTime":456.135,"body":"explain the complexity as a carrier."},{"startTime":456.369,"endTime":462.669,"body":"But the idea of knowing that there is a,"},{"startTime":456.369,"endTime":462.669,"body":"a guarantee or a high probability that"},{"startTime":462.7,"endTime":465.489,"body":"they're working with shippers who are"},{"startTime":462.7,"endTime":465.489,"body":"gonna do exactly what they say they're"},{"startTime":465.489,"endTime":469.27,"body":"going to do is as you said, much easier"},{"startTime":465.489,"endTime":469.27,"body":"to plan and predict around, and the"},{"startTime":469.27,"endTime":472.25,"body":"same thing for the shipper dealing with."},{"startTime":472.539,"endTime":474.76,"body":"Our carrier is going"},{"startTime":472.539,"endTime":474.76,"body":"to accept my bookings."},{"startTime":474.789,"endTime":476.919,"body":"Are they going to give"},{"startTime":474.789,"endTime":476.919,"body":"me a piece of equipment?"},{"startTime":476.93,"endTime":478.299,"body":"Are they going to roll my cargo?"},{"startTime":478.599,"endTime":481.18,"body":"There's so much uncertainty"},{"startTime":478.599,"endTime":481.18,"body":"that's built into that."},{"startTime":481.18,"endTime":485.44,"body":"And again, if that can be guaranteed at"},{"startTime":481.18,"endTime":485.44,"body":"a high level of profitability, again, it"},{"startTime":485.44,"endTime":487.27,"body":"makes things so much easier to manage."},{"startTime":487.27,"endTime":490.06,"body":"And then to your point, there's a"},{"startTime":487.27,"endTime":490.06,"body":"part of your supply chain that you"},{"startTime":490.06,"endTime":491.95,"body":"say I don't have to worry about."},{"startTime":491.979,"endTime":493.96,"body":"There's plenty of other things as a."},{"startTime":494.32,"endTime":497.14,"body":"As a, as a logistics manager"},{"startTime":494.32,"endTime":497.14,"body":"that you have to worry about."},{"startTime":497.14,"endTime":500.92,"body":"And if the ocean component is one"},{"startTime":497.14,"endTime":500.92,"body":"less of those things, then you've"},{"startTime":500.92,"endTime":504.1,"body":"got more time to focus on other,"},{"startTime":500.92,"endTime":504.1,"body":"other really important problems."},{"startTime":504.97,"endTime":505.06,"body":"Right."},{"startTime":505.14,"endTime":505.47,"body":"Right."},{"startTime":505.47,"endTime":509.85,"body":"I mean, I think it allows you to focus"},{"startTime":505.47,"endTime":509.85,"body":"on other things, but also it, I would"},{"startTime":509.85,"endTime":514.62,"body":"think from a shipper side, your, your"},{"startTime":509.85,"endTime":514.62,"body":"focus is then on this smaller piece of"},{"startTime":514.62,"endTime":516.27,"body":"the business, which you weren't sure of."},{"startTime":516.72,"endTime":517.56,"body":"Three months ago."},{"startTime":517.59,"endTime":517.98,"body":"Right."},{"startTime":518.19,"endTime":521.46,"body":"And, and to address that point versus"},{"startTime":518.19,"endTime":521.46,"body":"your whole supply chain, which could"},{"startTime":521.46,"endTime":525.75,"body":"be infected by something without a"},{"startTime":521.46,"endTime":525.75,"body":"commitment I imagine is challenging."},{"startTime":525.75,"endTime":531.39,"body":"And again, getting back to that"},{"startTime":525.75,"endTime":531.39,"body":"whole MQC divided by 52 things."},{"startTime":531.39,"endTime":533.34,"body":"Might've looked different a year ago."},{"startTime":533.34,"endTime":536.43,"body":"I mean, think about it that if we"},{"startTime":533.34,"endTime":536.43,"body":"look to ourselves and think about a"},{"startTime":536.43,"endTime":538.14,"body":"year ago, things look a lot different."},{"startTime":538.38,"endTime":538.95,"body":"So."},{"startTime":539.4,"endTime":543.09,"body":"There, there were certainly challenges,"},{"startTime":539.4,"endTime":543.09,"body":"a lot of unknowns there, and that's why"},{"startTime":543.12,"endTime":546.09,"body":"it makes sense to take some of those"},{"startTime":543.12,"endTime":546.09,"body":"things that, you know, are certain."},{"startTime":546.54,"endTime":548.64,"body":"And then everyone can feel"},{"startTime":546.54,"endTime":548.64,"body":"better about that type of"},{"startTime":548.64,"endTime":550.08,"body":"agreement, because it was clear."},{"startTime":550.08,"endTime":554.55,"body":"I was certain at this time and as things"},{"startTime":550.08,"endTime":554.55,"body":"change, I can change too, but that's"},{"startTime":554.55,"endTime":560.06,"body":"where that other piece of floating cargo"},{"startTime":554.55,"endTime":560.06,"body":"or spot cargo or what have you you can"},{"startTime":560.06,"endTime":564.15,"body":"manage it in a different way, but again,"},{"startTime":560.06,"endTime":564.15,"body":"you're not trying to re think your"},{"startTime":564.15,"endTime":567.51,"body":"whole book of business because you're,"},{"startTime":564.15,"endTime":567.51,"body":"you're stuck trying to get on a ship."},{"startTime":568.035,"endTime":572.835,"body":"Yeah, I think that's one of the great"},{"startTime":568.035,"endTime":572.835,"body":"things about how customizable these are."},{"startTime":573.225,"endTime":576.465,"body":"And I don't think I heard any shippers"},{"startTime":573.225,"endTime":576.465,"body":"or carrier saying my intention"},{"startTime":576.465,"endTime":581.475,"body":"is to commit 100% of all of my"},{"startTime":576.465,"endTime":581.475,"body":"lanes throughout the whole year."},{"startTime":581.815,"endTime":585.555,"body":"That's really hard to predict with any"},{"startTime":581.815,"endTime":585.555,"body":"level of certainty, but to your point."},{"startTime":586.05,"endTime":591.78,"body":"Most shippers have a part of their"},{"startTime":586.05,"endTime":591.78,"body":"supply chain that is replenishable or"},{"startTime":591.78,"endTime":596.4,"body":"consistent that they can count on weekend"},{"startTime":591.78,"endTime":596.4,"body":"and week out, across across the year."},{"startTime":596.4,"endTime":600.03,"body":"And I think that's the focus"},{"startTime":596.4,"endTime":600.03,"body":"point for, for a lot of shippers."},{"startTime":600.57,"endTime":603.57,"body":"To your point, there are other"},{"startTime":600.57,"endTime":603.57,"body":"ways that you can apply these."},{"startTime":603.735,"endTime":608.575,"body":"These types of solutions, whether it"},{"startTime":603.735,"endTime":608.575,"body":"be for seasonality or overflow or flex"},{"startTime":608.595,"endTime":613.515,"body":"capacity, which we can talk about a little"},{"startTime":608.595,"endTime":613.515,"body":"more, but I think it's the creativity and"},{"startTime":613.515,"endTime":615.975,"body":"how customizable it is to your business."},{"startTime":615.975,"endTime":617.385,"body":"That really makes it appealing."},{"startTime":617.985,"endTime":620.295,"body":"Yeah, I absolutely agree."},{"startTime":620.295,"endTime":624.314,"body":"And I think, again, it creates"},{"startTime":620.295,"endTime":624.314,"body":"tremendous value from the"},{"startTime":624.314,"endTime":625.935,"body":"carrier side, because I think."},{"startTime":626.355,"endTime":629.954,"body":"Just thinking about it in those terms"},{"startTime":626.355,"endTime":629.954,"body":"where like, if they were playing, they"},{"startTime":629.954,"endTime":634.574,"body":"would have two separate components and how"},{"startTime":629.954,"endTime":634.574,"body":"challenging that is to, to manage that the"},{"startTime":634.574,"endTime":639.795,"body":"more certainty you can bring to a carrier,"},{"startTime":634.574,"endTime":639.795,"body":"the bigger value creator it is for them."},{"startTime":639.824,"endTime":643.694,"body":"And that's why I think as, as you pointed"},{"startTime":639.824,"endTime":643.694,"body":"out, Maersk has come out and said in"},{"startTime":643.694,"endTime":648.135,"body":"five years they want a hundred percent of"},{"startTime":643.694,"endTime":648.135,"body":"their contracts to be two way commitments."},{"startTime":648.675,"endTime":649.545,"body":"It makes sense."},{"startTime":649.574,"endTime":649.845,"body":"Right?"},{"startTime":649.845,"endTime":655.454,"body":"Because of the challenges that you see"},{"startTime":649.845,"endTime":655.454,"body":"today in the industry, I don't think it's."},{"startTime":656.295,"endTime":660.885,"body":"Anything sinister, or there was a plan or"},{"startTime":656.295,"endTime":660.885,"body":"people fell down, it's trying to manage"},{"startTime":660.885,"endTime":663.285,"body":"a pandemic, things change quite a bit."},{"startTime":663.285,"endTime":666.495,"body":"There's a surge in volume"},{"startTime":663.285,"endTime":666.495,"body":"and you couldn't plan."},{"startTime":666.525,"endTime":671.444,"body":"But again, if you have these 30, 40%"},{"startTime":666.525,"endTime":671.444,"body":"fall downs and you don't know what's"},{"startTime":671.444,"endTime":676.275,"body":"real until after the ship sales, how"},{"startTime":671.444,"endTime":676.275,"body":"do you manage your assets like that?"},{"startTime":676.275,"endTime":677.175,"body":"It's just very difficult."},{"startTime":677.175,"endTime":681.855,"body":"So if, if a carrier can say like, wow,"},{"startTime":677.175,"endTime":681.855,"body":"I can see with certainty already, what's"},{"startTime":681.855,"endTime":685.005,"body":"going to happen because I have these"},{"startTime":681.855,"endTime":685.005,"body":"two way commitments for, let's say."},{"startTime":685.515,"endTime":686.955,"body":"80% of my business."},{"startTime":687.195,"endTime":690.375,"body":"Then you can plan much better because"},{"startTime":687.195,"endTime":690.375,"body":"you can see my containers here."},{"startTime":690.555,"endTime":692.265,"body":"I need them there, et cetera."},{"startTime":692.815,"endTime":694.395,"body":"Yeah, well you know,"},{"startTime":694.395,"endTime":697.365,"body":"one of the practical approaches"},{"startTime":694.395,"endTime":697.365,"body":"that I heard talked about was"},{"startTime":697.425,"endTime":702.015,"body":"using committed contracts is as a"},{"startTime":697.425,"endTime":702.015,"body":"diversification alternative for shippers."},{"startTime":702.015,"endTime":706.815,"body":"So if you look at your carrier"},{"startTime":702.015,"endTime":706.815,"body":"base, as kind of a portfolio,"},{"startTime":706.845,"endTime":709.515,"body":"you're, you're probably still gonna"},{"startTime":706.845,"endTime":709.515,"body":"have some traditional agreements."},{"startTime":709.515,"endTime":711.975,"body":"And after the last year or two,"},{"startTime":709.515,"endTime":711.975,"body":"you know, there's probably some"},{"startTime":711.975,"endTime":713.535,"body":"risks that's built into those."},{"startTime":714.225,"endTime":716.325,"body":"they are broad, they are general."},{"startTime":716.765,"endTime":719.865,"body":"and there's a lot to be interpreted"},{"startTime":716.765,"endTime":719.865,"body":"between the shipper and carrier"},{"startTime":719.865,"endTime":721.665,"body":"as to what expectations are."},{"startTime":722.395,"endTime":725.074,"body":"but I think there's going to be some"},{"startTime":722.395,"endTime":725.074,"body":"degree where, where you have that."},{"startTime":725.255,"endTime":728.225,"body":"I think the other thing is that there's"},{"startTime":725.255,"endTime":728.225,"body":"carriers that are offering their own"},{"startTime":728.285,"endTime":732.395,"body":"committed products that, that I think"},{"startTime":728.285,"endTime":732.395,"body":"shippers are evaluating and deciding."},{"startTime":732.395,"endTime":737.675,"body":"Do I want to do something direct with the"},{"startTime":732.395,"endTime":737.675,"body":"carrier and what do those terms entail"},{"startTime":737.675,"endTime":741.574,"body":"and what advantages or disadvantages"},{"startTime":737.675,"endTime":741.574,"body":"as a shipper do I have with that?"},{"startTime":742.295,"endTime":743.105,"body":"Or third?"},{"startTime":743.105,"endTime":746.915,"body":"Obviously I could go with a neutral"},{"startTime":743.105,"endTime":746.915,"body":"third party that helps facilitate."},{"startTime":747.07,"endTime":751.81,"body":"These types of discussions that helps"},{"startTime":747.07,"endTime":751.81,"body":"educate both sides on where the best"},{"startTime":751.81,"endTime":755.89,"body":"opportunities to commit cargo would"},{"startTime":751.81,"endTime":755.89,"body":"be for the highest degree of success."},{"startTime":756.43,"endTime":760.24,"body":"And that, that might be a route as"},{"startTime":756.43,"endTime":760.24,"body":"well, but it could be that shippers"},{"startTime":760.24,"endTime":761.63,"body":"look at a blend of all three."},{"startTime":762.08,"endTime":766.24,"body":"but either way, the great thing is,"},{"startTime":762.08,"endTime":766.24,"body":"I think shippers will have options"},{"startTime":766.27,"endTime":769.78,"body":"and it's finding that right balance,"},{"startTime":766.27,"endTime":769.78,"body":"you know, what's your risk tolerance"},{"startTime":769.78,"endTime":773.8,"body":"and how much diversification do you"},{"startTime":769.78,"endTime":773.8,"body":"need based on your size and scale"},{"startTime":773.8,"endTime":775.39,"body":"will ultimately be the question."},{"startTime":776.37,"endTime":776.67,"body":"Yeah."},{"startTime":776.7,"endTime":780.21,"body":"And so let me ask you a question"},{"startTime":776.7,"endTime":780.21,"body":"and, and I know there's all new"},{"startTime":780.21,"endTime":784.26,"body":"and it's an evolving situation, but"},{"startTime":780.21,"endTime":784.26,"body":"what do you think the reasons are"},{"startTime":784.26,"endTime":786.3,"body":"that our shipper wouldn't commit?"},{"startTime":786.69,"endTime":790.89,"body":"Because I think that from a carrier"},{"startTime":786.69,"endTime":790.89,"body":"perspective, you know, they they've"},{"startTime":790.95,"endTime":795.72,"body":"had to deal with a lot of, Customers"},{"startTime":790.95,"endTime":795.72,"body":"not honoring contracts, you know,"},{"startTime":795.72,"endTime":798.36,"body":"that the MQC has been unenforceable."},{"startTime":798.36,"endTime":802.22,"body":"They're like a toothless tiger that"},{"startTime":798.36,"endTime":802.22,"body":"they don't send out these liquidated"},{"startTime":802.22,"endTime":805.2,"body":"damages, invoices to customers."},{"startTime":805.2,"endTime":810.33,"body":"So I don't think the MQC has worked as"},{"startTime":805.2,"endTime":810.33,"body":"being punitive and that's created all"},{"startTime":810.33,"endTime":812.47,"body":"these issues with people not showing up."},{"startTime":812.47,"endTime":816.63,"body":"So, from a carrier perspective, you"},{"startTime":812.47,"endTime":816.63,"body":"might say like, ah, it's just because"},{"startTime":816.63,"endTime":818.49,"body":"nobody wants to commit, but I don't."},{"startTime":819.105,"endTime":821.795,"body":"Necessarily believe that's true,"},{"startTime":819.105,"endTime":821.795,"body":"but I could understand why carrier"},{"startTime":821.795,"endTime":825.705,"body":"would say that, but what is your view"},{"startTime":821.795,"endTime":825.705,"body":"on why a shipper wouldn't commit."},{"startTime":826.2,"endTime":828.15,"body":"Yeah, I think it's a great question."},{"startTime":828.18,"endTime":835.02,"body":"And I think the same types of, concerns"},{"startTime":828.18,"endTime":835.02,"body":"that a carrier may have about the"},{"startTime":835.02,"endTime":840.27,"body":"things that are uncontrollable or the"},{"startTime":835.02,"endTime":840.27,"body":"things that are hard to manage are"},{"startTime":840.27,"endTime":841.89,"body":"the same thing that, a shipper has."},{"startTime":841.89,"endTime":846.84,"body":"So now, as a shipper, I've got to commit"},{"startTime":841.89,"endTime":846.84,"body":"specific volumes, whether it's on a"},{"startTime":846.84,"endTime":849.24,"body":"weekly or monthly or quarterly basis."},{"startTime":849.78,"endTime":852.584,"body":"And if not, I've got actually"},{"startTime":849.78,"endTime":852.584,"body":"some skin in the game."},{"startTime":852.584,"endTime":855.885,"body":"There, there could be a default"},{"startTime":852.584,"endTime":855.885,"body":"or a penalty that, comes to me."},{"startTime":856.305,"endTime":860.474,"body":"And there are a whole host of things"},{"startTime":856.305,"endTime":860.474,"body":"that happen between when a purchase"},{"startTime":860.474,"endTime":865.875,"body":"order gets raised to raw materials,"},{"startTime":860.474,"endTime":865.875,"body":"being procured to a factory producing"},{"startTime":865.875,"endTime":870.224,"body":"on time to being able to load it"},{"startTime":865.875,"endTime":870.224,"body":"into a container to get on, a vessel."},{"startTime":870.665,"endTime":871.014,"body":"so."},{"startTime":871.474,"endTime":875.11,"body":"Obviously there's a lot that can"},{"startTime":871.474,"endTime":875.11,"body":"happen in those, those processes."},{"startTime":875.14,"endTime":878.06,"body":"And as a shipper, you've"},{"startTime":875.14,"endTime":878.06,"body":"gotta be really confident."},{"startTime":878.17,"endTime":882.31,"body":"you've got to involve a lot of your"},{"startTime":878.17,"endTime":882.31,"body":"internal state key stakeholders to say."},{"startTime":882.645,"endTime":885.735,"body":"Hey, look, we've gotta be better"},{"startTime":882.645,"endTime":885.735,"body":"at coordinating and planning than"},{"startTime":885.735,"endTime":889.125,"body":"we ever have been before, but"},{"startTime":885.735,"endTime":889.125,"body":"here are the ultimate benefits."},{"startTime":889.125,"endTime":893.155,"body":"I mean, we're going to see predictability"},{"startTime":889.125,"endTime":893.155,"body":"and reliability from our carrier partners."},{"startTime":893.155,"endTime":895.005,"body":"Like, we've never seen before."},{"startTime":895.785,"endTime":899.325,"body":"And so I think that's the hesitancy"},{"startTime":895.785,"endTime":899.325,"body":"where as a shipper and I'm going to be"},{"startTime":899.325,"endTime":904.875,"body":"really honest, the last 10 years or so,"},{"startTime":899.325,"endTime":904.875,"body":"we haven't had to be really specific"},{"startTime":905.325,"endTime":907.185,"body":"with things because to your point."},{"startTime":907.995,"endTime":912.75,"body":"it was easy to sign a really high MQC"},{"startTime":907.995,"endTime":912.75,"body":"and if we fell short or we missed our"},{"startTime":912.75,"endTime":916.62,"body":"forecast, there, weren't a whole lot"},{"startTime":912.75,"endTime":916.62,"body":"of liquidated damages coming our way."},{"startTime":917.79,"endTime":922.56,"body":"And so now it's a different story"},{"startTime":917.79,"endTime":922.56,"body":"where capacity isn't readily available"},{"startTime":922.65,"endTime":926.76,"body":"as shippers, we've got to become"},{"startTime":922.65,"endTime":926.76,"body":"much more specific and manage our"},{"startTime":926.76,"endTime":929.97,"body":"supply chains and supply chain"},{"startTime":926.76,"endTime":929.97,"body":"partners closer than we ever have."},{"startTime":930.39,"endTime":934.23,"body":"And I think there's just some concern"},{"startTime":930.39,"endTime":934.23,"body":"and on the shipper side of how do I do"},{"startTime":934.23,"endTime":935.699,"body":"that and how do I do that effectively?"},{"startTime":936.225,"endTime":936.675,"body":"Yeah."},{"startTime":936.725,"endTime":942.945,"body":"And I think the MQC and my experience"},{"startTime":936.725,"endTime":942.945,"body":"has been one where, and working with"},{"startTime":942.945,"endTime":947.445,"body":"a number of shippers that they were"},{"startTime":942.945,"endTime":947.445,"body":"not always sure what to do, right."},{"startTime":947.445,"endTime":951.285,"body":"That they think, I mean, I can remember"},{"startTime":947.445,"endTime":951.285,"body":"customers saying, here's your award."},{"startTime":951.285,"endTime":952.275,"body":"You did your tender."},{"startTime":952.305,"endTime":957.285,"body":"It's 56,000 TEUs, but my MQC"},{"startTime":952.305,"endTime":957.285,"body":"is going to be 30,000 to use."},{"startTime":957.66,"endTime":958.89,"body":"Anything like, Hmm."},{"startTime":959.28,"endTime":961.14,"body":"Well, how does that really make sense?"},{"startTime":961.14,"endTime":963.27,"body":"And it's like, Oh, I want"},{"startTime":961.14,"endTime":963.27,"body":"this flexibility and so on."},{"startTime":963.27,"endTime":968.04,"body":"But it, I think it goes back to"},{"startTime":963.27,"endTime":968.04,"body":"that point of is the, MQC really an"},{"startTime":968.04,"endTime":969.84,"body":"indication of what people expect to do."},{"startTime":970.11,"endTime":973.85,"body":"I awarded you X, but my MQC is for Y."},{"startTime":974.439,"endTime":976.214,"body":"So, which is it going to be?"},{"startTime":976.275,"endTime":977.355,"body":"When is it going to be?"},{"startTime":977.564,"endTime":980.175,"body":"And I think we just have to"},{"startTime":977.564,"endTime":980.175,"body":"get away from that behavior."},{"startTime":980.175,"endTime":984.805,"body":"I think it makes sense to tender"},{"startTime":980.175,"endTime":984.805,"body":"your volume and, and put your lanes"},{"startTime":984.824,"endTime":986.385,"body":"and your, expected volume there."},{"startTime":986.595,"endTime":990.36,"body":"But when it comes to commitments, It"},{"startTime":986.595,"endTime":990.36,"body":"makes sense for both parties to really"},{"startTime":990.36,"endTime":995.4,"body":"drill down and take the time to say,"},{"startTime":990.36,"endTime":995.4,"body":"this is what I think, I'm sure I'm"},{"startTime":995.4,"endTime":999.39,"body":"going to ship and I can commit to this"},{"startTime":995.4,"endTime":999.39,"body":"because it makes the supply chain better."},{"startTime":999.42,"endTime":1003.53,"body":"And, and certainly from a carrier's"},{"startTime":999.42,"endTime":1003.53,"body":"ability to deliver a better service,"},{"startTime":1003.74,"endTime":1005.45,"body":"it allows them to do that better."},{"startTime":1005.96,"endTime":1007.46,"body":"If they can know things upfront."},{"startTime":1007.49,"endTime":1012.68,"body":"Versus that example I gave of 30,000"},{"startTime":1007.49,"endTime":1012.68,"body":"MQC 56,000 to use as an award."},{"startTime":1013.16,"endTime":1013.58,"body":"Yeah."},{"startTime":1014.12,"endTime":1017.54,"body":"And the key of, of, of managing"},{"startTime":1014.12,"endTime":1017.54,"body":"your supply chain and your internal"},{"startTime":1017.54,"endTime":1020.84,"body":"stakeholders, most closer as you get"},{"startTime":1017.54,"endTime":1020.84,"body":"to see those exceptions, you get to"},{"startTime":1020.84,"endTime":1024.14,"body":"figure out where those opportunities"},{"startTime":1020.84,"endTime":1024.14,"body":"are to fix things and go forward."},{"startTime":1024.62,"endTime":1028.16,"body":"Because again, you want to be sure that"},{"startTime":1024.62,"endTime":1028.16,"body":"you're getting the predictability, that"},{"startTime":1028.16,"endTime":1029.81,"body":"you're avoiding any kind of default."},{"startTime":1029.81,"endTime":1032.66,"body":"And I think that's a benefit of"},{"startTime":1029.81,"endTime":1032.66,"body":"that whole continuous improvement."},{"startTime":1032.76,"endTime":1037.62,"body":"Approach to your business, but, but"},{"startTime":1032.76,"endTime":1037.62,"body":"it also just speaks to, to redundancy."},{"startTime":1037.65,"endTime":1038.97,"body":"I think you're exactly right."},{"startTime":1038.97,"endTime":1043.02,"body":"You find those places where there's a"},{"startTime":1038.97,"endTime":1043.02,"body":"high level of confidence and success in"},{"startTime":1043.02,"endTime":1044.79,"body":"fulfilling your end of the committed."},{"startTime":1045.185,"endTime":1045.665,"body":"Deal."},{"startTime":1046.235,"endTime":1048.515,"body":"And then it's about"},{"startTime":1046.235,"endTime":1048.515,"body":"building redundancy, right?"},{"startTime":1048.515,"endTime":1053.045,"body":"That says in some of the places where"},{"startTime":1048.515,"endTime":1053.045,"body":"again, I know I might have a little"},{"startTime":1053.045,"endTime":1057.335,"body":"bit more uncertainty, but I think"},{"startTime":1053.045,"endTime":1057.335,"body":"this is my, maybe what happened?"},{"startTime":1057.815,"endTime":1062.375,"body":"How do I use again, committed agreements"},{"startTime":1057.815,"endTime":1062.375,"body":"or, or other vehicles to still"},{"startTime":1062.375,"endTime":1064.235,"body":"provide me with a level of support?"},{"startTime":1064.235,"endTime":1065.075,"body":"Should I need it?"},{"startTime":1065.225,"endTime":1068.915,"body":"And that could be in those"},{"startTime":1065.225,"endTime":1068.915,"body":"seasonal times or overflow."},{"startTime":1069.68,"endTime":1072.5,"body":"One of the things that, that"},{"startTime":1069.68,"endTime":1072.5,"body":"Don is, fairly popular now."},{"startTime":1072.5,"endTime":1076.19,"body":"And I'd love to hear what your"},{"startTime":1072.5,"endTime":1076.19,"body":"perspective from a carrier side is this"},{"startTime":1076.19,"endTime":1081.02,"body":"idea of committing to something that"},{"startTime":1076.19,"endTime":1081.02,"body":"you feel really good about fulfilling,"},{"startTime":1081.47,"endTime":1086.03,"body":"but then pre negotiating something"},{"startTime":1081.47,"endTime":1086.03,"body":"that would be flexible on the upside"},{"startTime":1086.03,"endTime":1087.86,"body":"to say, there's a portion of this."},{"startTime":1087.86,"endTime":1092.27,"body":"I'm not so sure of, but I'd still like"},{"startTime":1087.86,"endTime":1092.27,"body":"to have the opportunity to come ask you"},{"startTime":1092.66,"endTime":1094.52,"body":"for additional support, if, and when"},{"startTime":1094.52,"endTime":1095.24,"body":"that happens."},{"startTime":1095.764,"endTime":1096.185,"body":"Yeah."},{"startTime":1096.215,"endTime":1101.805,"body":"I mean, personally, I love that idea"},{"startTime":1096.215,"endTime":1101.805,"body":"because, and it's not just the surge"},{"startTime":1101.825,"endTime":1105.665,"body":"the notion of a surge, because I think"},{"startTime":1101.825,"endTime":1105.665,"body":"that's not a new idea, but I think"},{"startTime":1106.024,"endTime":1111.575,"body":"about tying that additional volume"},{"startTime":1106.024,"endTime":1111.575,"body":"that may be coming a carrier's way to"},{"startTime":1111.575,"endTime":1116.195,"body":"a booking window and saying, okay, If"},{"startTime":1111.575,"endTime":1116.195,"body":"you're going to surge, that's fine."},{"startTime":1116.195,"endTime":1118.475,"body":"But you have to, you can search up to 20%."},{"startTime":1118.475,"endTime":1122.325,"body":"Let's say as an example, but you're"},{"startTime":1118.475,"endTime":1122.325,"body":"going to tell me 14 days in advance"},{"startTime":1122.695,"endTime":1125.945,"body":"and, that way of the time it"},{"startTime":1122.695,"endTime":1125.945,"body":"creates discipline on both sides."},{"startTime":1125.945,"endTime":1126.245,"body":"Right?"},{"startTime":1126.245,"endTime":1128.915,"body":"Because now I know, okay, I'm"},{"startTime":1126.245,"endTime":1128.915,"body":"going to allow you to do that."},{"startTime":1128.915,"endTime":1133.535,"body":"But after 14 days, I'm going to close that"},{"startTime":1128.915,"endTime":1133.535,"body":"window because now I'm going to pursue"},{"startTime":1133.535,"endTime":1137.405,"body":"spot cargo, but it creates discipline on"},{"startTime":1133.535,"endTime":1137.405,"body":"the shipper side too, to say like, Hey,"},{"startTime":1137.405,"endTime":1139.505,"body":"we have to make sure we know this upfront."},{"startTime":1140.0,"endTime":1143.27,"body":"So that, because we have this ability"},{"startTime":1140.0,"endTime":1143.27,"body":"that I think that's one of the"},{"startTime":1143.27,"endTime":1147.11,"body":"biggest challenges, because I can"},{"startTime":1143.27,"endTime":1147.11,"body":"tell you in my life, I've experienced"},{"startTime":1147.11,"endTime":1151.16,"body":"a lot of phone calls saying like,"},{"startTime":1147.11,"endTime":1151.16,"body":"Hey, the ship sailing tomorrow."},{"startTime":1151.31,"endTime":1153.29,"body":"I want to add another four containers."},{"startTime":1153.29,"endTime":1154.13,"body":"I have them loaded."},{"startTime":1154.13,"endTime":1155.42,"body":"They're ready to go in the terminal."},{"startTime":1155.42,"endTime":1158.75,"body":"Can you like part the red sea and"},{"startTime":1155.42,"endTime":1158.75,"body":"make these containers get on the ship?"},{"startTime":1159.05,"endTime":1160.79,"body":"And it's very difficult to do that."},{"startTime":1160.79,"endTime":1162.95,"body":"And sometimes you can, and"},{"startTime":1160.79,"endTime":1162.95,"body":"sometimes you can't, but."},{"startTime":1163.52,"endTime":1166.73,"body":"It's difficult for both parties"},{"startTime":1163.52,"endTime":1166.73,"body":"to operate in that fashion."},{"startTime":1166.73,"endTime":1170.659,"body":"And that's where I think having"},{"startTime":1166.73,"endTime":1170.659,"body":"that flexibility and also creating"},{"startTime":1170.659,"endTime":1174.62,"body":"some rules and understandings of"},{"startTime":1170.659,"endTime":1174.62,"body":"when you can use that flexibility."},{"startTime":1174.649,"endTime":1176.69,"body":"And if you use it before"},{"startTime":1174.649,"endTime":1176.69,"body":"this time, it's there."},{"startTime":1176.69,"endTime":1180.56,"body":"And if you don't use it by that time,"},{"startTime":1176.69,"endTime":1180.56,"body":"it's gone, that makes a ton of sense."},{"startTime":1180.56,"endTime":1182.389,"body":"And it's super attractive"},{"startTime":1180.56,"endTime":1182.389,"body":"from a carrier side."},{"startTime":1182.945,"endTime":1183.395,"body":"Yeah,"},{"startTime":1183.875,"endTime":1184.794,"body":"I think it's this idea."},{"startTime":1184.815,"endTime":1189.304,"body":"When, when they're Slack in the"},{"startTime":1184.815,"endTime":1189.304,"body":"system, you can have inefficiencies"},{"startTime":1189.304,"endTime":1190.685,"body":"and you don't have to be perfect."},{"startTime":1190.685,"endTime":1195.995,"body":"I think for the last 10 plus years with"},{"startTime":1190.685,"endTime":1195.995,"body":"the overcapacity, it's created Slack and"},{"startTime":1195.995,"endTime":1200.465,"body":"allowed for commercial decisions to be"},{"startTime":1195.995,"endTime":1200.465,"body":"made and flexibility to be had, which."},{"startTime":1201.005,"endTime":1204.545,"body":"I think we've, we've talked about before"},{"startTime":1201.005,"endTime":1204.545,"body":"structurally is probably just not going"},{"startTime":1204.545,"endTime":1206.255,"body":"to exist for the foreseeable future."},{"startTime":1206.825,"endTime":1212.255,"body":"So this idea of, of, of, of shippers"},{"startTime":1206.825,"endTime":1212.255,"body":"and particular retailers really leaning"},{"startTime":1212.255,"endTime":1217.055,"body":"out their inventory and going into these"},{"startTime":1212.255,"endTime":1217.055,"body":"just in time models to ensure right, that"},{"startTime":1217.055,"endTime":1220.745,"body":"they're limiting and minimizing the, the"},{"startTime":1217.055,"endTime":1220.745,"body":"total amount of inventory they have to"},{"startTime":1220.745,"endTime":1222.575,"body":"have in their system and still meeting."},{"startTime":1223.23,"endTime":1225.56,"body":"Customer's needs when and"},{"startTime":1225.56,"endTime":1227.06,"body":"where they want to shop."},{"startTime":1227.78,"endTime":1232.64,"body":"I think it's just one of those where"},{"startTime":1227.78,"endTime":1232.64,"body":"the shippers can't expect or rely"},{"startTime":1232.64,"endTime":1236.72,"body":"on that Slack capacity to overcome"},{"startTime":1232.64,"endTime":1236.72,"body":"the challenges that are out there."},{"startTime":1236.72,"endTime":1240.95,"body":"So this is where these very"},{"startTime":1236.72,"endTime":1240.95,"body":"clear expectations on both sides."},{"startTime":1241.18,"endTime":1245.59,"body":"I think allow still for some of that"},{"startTime":1241.18,"endTime":1245.59,"body":"approach where I'm going to be very"},{"startTime":1245.59,"endTime":1250.09,"body":"specific and I'm going to manage"},{"startTime":1245.59,"endTime":1250.09,"body":"things closer than I have, but you"},{"startTime":1250.09,"endTime":1253.93,"body":"know, the days of have plenty of"},{"startTime":1250.09,"endTime":1253.93,"body":"capacity and a lot of flexibility"},{"startTime":1253.93,"endTime":1258.16,"body":"commercially to, to make decisions"},{"startTime":1253.93,"endTime":1258.16,"body":"and overcome some of those challenges."},{"startTime":1258.16,"endTime":1258.61,"body":"I just."},{"startTime":1258.89,"endTime":1261.26,"body":"They, they just don't seem to be"},{"startTime":1258.89,"endTime":1261.26,"body":"there like they have in the past."},{"startTime":1261.65,"endTime":1261.92,"body":"Yeah."},{"startTime":1261.92,"endTime":1266.05,"body":"I think one of the biggest changes in"},{"startTime":1261.92,"endTime":1266.05,"body":"the past few years has been the carrier's"},{"startTime":1266.05,"endTime":1269.83,"body":"ability to control their capacity much"},{"startTime":1266.05,"endTime":1269.83,"body":"better in this whole idea of blank."},{"startTime":1269.83,"endTime":1273.91,"body":"Sailings has really changed"},{"startTime":1269.83,"endTime":1273.91,"body":"the way capacity management"},{"startTime":1273.91,"endTime":1275.17,"body":"has occurred for the carrier."},{"startTime":1275.17,"endTime":1278.41,"body":"So, and it's a pretty simple"},{"startTime":1275.17,"endTime":1278.41,"body":"thought process, right?"},{"startTime":1278.41,"endTime":1281.59,"body":"If my ships aren't full, I'm"},{"startTime":1278.41,"endTime":1281.59,"body":"not going to sale, I'm just"},{"startTime":1281.59,"endTime":1283.21,"body":"going to basically blank sale."},{"startTime":1283.24,"endTime":1288.665,"body":"So that way I'm using my assets better,"},{"startTime":1283.24,"endTime":1288.665,"body":"which again, Makes sense from a carrier"},{"startTime":1288.665,"endTime":1292.985,"body":"standpoint, if the rates are low, I"},{"startTime":1288.665,"endTime":1292.985,"body":"know that doesn't make shippers happy,"},{"startTime":1293.225,"endTime":1299.945,"body":"but I think now we're, an environment"},{"startTime":1293.225,"endTime":1299.945,"body":"where the rates are profitable and They"},{"startTime":1299.945,"endTime":1303.334,"body":"feel compensatory for the carriers that"},{"startTime":1299.945,"endTime":1303.334,"body":"they can commit and then they can plan"},{"startTime":1303.334,"endTime":1307.415,"body":"their networks better, this results in a"},{"startTime":1303.334,"endTime":1307.415,"body":"better result for the customer as well."},{"startTime":1307.415,"endTime":1308.004,"body":"So I think."},{"startTime":1308.465,"endTime":1312.785,"body":"On the one hand, you have the benefit"},{"startTime":1308.465,"endTime":1312.785,"body":"of having a commitment and you have"},{"startTime":1312.785,"endTime":1316.415,"body":"the certainty around if you can flex"},{"startTime":1312.785,"endTime":1316.415,"body":"or not, or how those things work."},{"startTime":1316.685,"endTime":1321.695,"body":"But now you're also enabling the carrier"},{"startTime":1316.685,"endTime":1321.695,"body":"to provide you a better service because"},{"startTime":1321.695,"endTime":1326.165,"body":"of one you're committing the rate levels"},{"startTime":1321.695,"endTime":1326.165,"body":"that are compensatory and two, they"},{"startTime":1326.165,"endTime":1328.025,"body":"can do better job of asset planning."},{"startTime":1328.205,"endTime":1332.075,"body":"This, this all helps take the"},{"startTime":1328.205,"endTime":1332.075,"body":"industry forward and improve things."},{"startTime":1332.075,"endTime":1334.175,"body":"And that's why I think,"},{"startTime":1332.075,"endTime":1334.175,"body":"I think Maersk is right."},{"startTime":1334.175,"endTime":1334.865,"body":"I mean, I think."},{"startTime":1335.315,"endTime":1339.545,"body":"Once you begin in this, this"},{"startTime":1335.315,"endTime":1339.545,"body":"committed contract arena, it"},{"startTime":1339.545,"endTime":1340.685,"body":"starts to make a lot of sense."},{"startTime":1340.685,"endTime":1341.285,"body":"So I think."},{"startTime":1341.689,"endTime":1345.29,"body":"It would make sense for both parties from"},{"startTime":1341.689,"endTime":1345.29,"body":"a shipper and carrier standpoint to really"},{"startTime":1345.29,"endTime":1347.27,"body":"think about how they can carry it forward."},{"startTime":1347.71,"endTime":1347.949,"body":"Yeah."},{"startTime":1347.98,"endTime":1348.49,"body":"It's funny."},{"startTime":1348.52,"endTime":1352.689,"body":"You go back to your hairline analogy that"},{"startTime":1348.52,"endTime":1352.689,"body":"you brought up at the very beginning."},{"startTime":1352.689,"endTime":1356.59,"body":"I, I feel like I've been on the other"},{"startTime":1352.689,"endTime":1356.59,"body":"end of, of airline blank, sailings,"},{"startTime":1356.59,"endTime":1358.51,"body":"where I've been at a connection point."},{"startTime":1358.54,"endTime":1361.75,"body":"I know that the plane has probably"},{"startTime":1358.54,"endTime":1361.75,"body":"150 seats and I look around and"},{"startTime":1361.75,"endTime":1364.0,"body":"there's about 10 of us standing"},{"startTime":1361.75,"endTime":1364.0,"body":"there and all of a sudden."},{"startTime":1364.514,"endTime":1365.655,"body":"They flight gets canceled."},{"startTime":1365.655,"endTime":1368.835,"body":"So I don't know if the carriers"},{"startTime":1365.655,"endTime":1368.835,"body":"have gotten that from the airlines"},{"startTime":1368.835,"endTime":1370.814,"body":"or not, but I feel like I've"},{"startTime":1368.835,"endTime":1370.814,"body":"been on the other end of that"},{"startTime":1370.814,"endTime":1371.534,"body":"one, myself."},{"startTime":1372.125,"endTime":1372.515,"body":"Yeah."},{"startTime":1372.635,"endTime":1376.715,"body":"I, I think we've all experienced"},{"startTime":1372.635,"endTime":1376.715,"body":"that and gone through"},{"startTime":1376.715,"endTime":1378.485,"body":"that pain and nothing worse"},{"startTime":1378.485,"endTime":1381.335,"body":"than being, I mean, I guess that's"},{"startTime":1378.485,"endTime":1381.335,"body":"what it's like to get rolled."},{"startTime":1381.335,"endTime":1381.605,"body":"Right."},{"startTime":1381.605,"endTime":1384.005,"body":"I mean, you're, you're sitting"},{"startTime":1381.605,"endTime":1384.005,"body":"there on a plane and then it's"},{"startTime":1384.005,"endTime":1385.475,"body":"canceled and you're like, Oh, great."},{"startTime":1385.475,"endTime":1385.925,"body":"I'll just go"},{"startTime":1385.925,"endTime":1387.725,"body":"back in the the lounge"},{"startTime":1387.725,"endTime":1388.235,"body":"or something."},{"startTime":1388.235,"endTime":1389.135,"body":"It's not, not fun."},{"startTime":1389.535,"endTime":1389.925,"body":"Yeah."},{"startTime":1390.015,"endTime":1390.195,"body":"Th"},{"startTime":1390.225,"endTime":1392.355,"body":"the last point, I guess"},{"startTime":1390.225,"endTime":1392.355,"body":"I'd bring up from a shipper"},{"startTime":1392.355,"endTime":1392.745,"body":"perspective."},{"startTime":1392.745,"endTime":1393.915,"body":"When I think"},{"startTime":1393.915,"endTime":1398.145,"body":"about committed deals and how it"},{"startTime":1393.915,"endTime":1398.145,"body":"helps me is, I go through, you"},{"startTime":1398.145,"endTime":1401.415,"body":"know, kind of this painstaking"},{"startTime":1398.145,"endTime":1401.415,"body":"process every year for my annual"},{"startTime":1401.415,"endTime":1406.785,"body":"agreements, where I am thinking about"},{"startTime":1401.415,"endTime":1406.785,"body":"developing a forecast, doing a tender."},{"startTime":1407.12,"endTime":1411.169,"body":"Having multiple rounds and kind of"},{"startTime":1407.12,"endTime":1411.169,"body":"optimizing the heck out of the results"},{"startTime":1411.169,"endTime":1416.78,"body":"and trying to come up with the best"},{"startTime":1411.169,"endTime":1416.78,"body":"perfect, solution between the capacity"},{"startTime":1416.78,"endTime":1421.399,"body":"that's being offered to me, the price"},{"startTime":1416.78,"endTime":1421.399,"body":"is being offered at, and then it"},{"startTime":1421.399,"endTime":1424.129,"body":"matching my, my unique lane network."},{"startTime":1424.895,"endTime":1427.925,"body":"And I come up with this perfect model"},{"startTime":1424.895,"endTime":1427.925,"body":"that says, here's exactly how much"},{"startTime":1427.925,"endTime":1429.455,"body":"I'm going to give to each carrier."},{"startTime":1429.815,"endTime":1431.284,"body":"Here's what it's going to cost me."},{"startTime":1431.284,"endTime":1433.905,"body":"I go present it to my"},{"startTime":1431.284,"endTime":1433.905,"body":"supply chain executive."},{"startTime":1434.014,"endTime":1437.254,"body":"I look like a hero because"},{"startTime":1434.014,"endTime":1437.254,"body":"it's, it's this great result."},{"startTime":1437.915,"endTime":1441.865,"body":"And then three months"},{"startTime":1437.915,"endTime":1441.865,"body":"into, the, new contract."},{"startTime":1442.135,"endTime":1445.774,"body":"it's all for, for not because"},{"startTime":1442.135,"endTime":1445.774,"body":"what I thought or what I"},{"startTime":1445.774,"endTime":1447.514,"body":"expected or wanted to happen."},{"startTime":1447.605,"endTime":1453.335,"body":"Just didn't happen because of that"},{"startTime":1447.605,"endTime":1453.335,"body":"lack of specificity in those contracts"},{"startTime":1453.335,"endTime":1455.165,"body":"and expectations falling short."},{"startTime":1455.675,"endTime":1459.605,"body":"So this idea, if, you're a shipper"},{"startTime":1455.675,"endTime":1459.605,"body":"that spends a lot of time optimizing"},{"startTime":1459.605,"endTime":1466.465,"body":"results and your final year result is"},{"startTime":1459.605,"endTime":1466.465,"body":"really tied to this RFP process and"},{"startTime":1466.465,"endTime":1470.405,"body":"this carrier allocation process, I think"},{"startTime":1466.465,"endTime":1470.405,"body":"committed agreements can, again, help."},{"startTime":1470.64,"endTime":1475.95,"body":"You know, secure a much better or"},{"startTime":1470.64,"endTime":1475.95,"body":"predetermined result for you because"},{"startTime":1475.95,"endTime":1478.11,"body":"there's a part of that optimization."},{"startTime":1478.14,"endTime":1482.61,"body":"If it's committed, you can feel like"},{"startTime":1478.14,"endTime":1482.61,"body":"there's a high degree of success That"},{"startTime":1482.61,"endTime":1484.92,"body":"going to happen the way it should."},{"startTime":1484.92,"endTime":1489.3,"body":"And so from a cost and a service"},{"startTime":1484.92,"endTime":1489.3,"body":"perspective, you go ahead and say,"},{"startTime":1489.3,"endTime":1490.5,"body":"I feel really good about that."},{"startTime":1490.5,"endTime":1494.16,"body":"And now I'm still left with something"},{"startTime":1490.5,"endTime":1494.16,"body":"that's uncertain, but I'm going"},{"startTime":1494.16,"endTime":1497.43,"body":"to focus and manage that to the"},{"startTime":1494.16,"endTime":1497.43,"body":"best of my ability and minimize"},{"startTime":1497.43,"endTime":1499.32,"body":"whatever exposure there would be."},{"startTime":1499.815,"endTime":1502.905,"body":"Versus trying to do that with a"},{"startTime":1499.815,"endTime":1502.905,"body":"hundred percent of my business."},{"startTime":1502.905,"endTime":1505.845,"body":"So that that's the other way"},{"startTime":1502.905,"endTime":1505.845,"body":"I look at it from a shipper"},{"startTime":1505.845,"endTime":1507.215,"body":"and maybe how you could apply."},{"startTime":1508.115,"endTime":1508.355,"body":"Yeah."},{"startTime":1508.355,"endTime":1511.715,"body":"And I think that scenario you"},{"startTime":1508.355,"endTime":1511.715,"body":"bring up could work both ways."},{"startTime":1511.715,"endTime":1511.955,"body":"Right?"},{"startTime":1511.955,"endTime":1515.945,"body":"I signed the contract it's three"},{"startTime":1511.955,"endTime":1515.945,"body":"months later and things changed."},{"startTime":1516.215,"endTime":1521.795,"body":"So the, the change could be, wow,"},{"startTime":1516.215,"endTime":1521.795,"body":"the rates dropped the spot rates."},{"startTime":1521.915,"endTime":1523.585,"body":"I don't know, $500 less than you."},{"startTime":1523.585,"endTime":1526.835,"body":"You feel like, Oh boy, you know,"},{"startTime":1523.585,"endTime":1526.835,"body":"there's a cost savings there and"},{"startTime":1526.835,"endTime":1528.275,"body":"there's this temptation there."},{"startTime":1528.725,"endTime":1530.135,"body":"And that's on the shipper side."},{"startTime":1530.555,"endTime":1533.345,"body":"And then on the other hand is"},{"startTime":1530.555,"endTime":1533.345,"body":"the carrier situation, right?"},{"startTime":1533.345,"endTime":1538.775,"body":"That again, you sign a contract rates"},{"startTime":1533.345,"endTime":1538.775,"body":"start to go up and then it's like, Oh, I'm"},{"startTime":1538.775,"endTime":1542.795,"body":"having issues getting space because you"},{"startTime":1538.775,"endTime":1542.795,"body":"know, there's this increasing gap there"},{"startTime":1543.125,"endTime":1545.075,"body":"and that's just bad for both parties."},{"startTime":1545.075,"endTime":1548.735,"body":"And that's why I think"},{"startTime":1545.075,"endTime":1548.735,"body":"my opinion is once we."},{"startTime":1549.409,"endTime":1554.21,"body":"As we we're moving forward with two-way"},{"startTime":1549.409,"endTime":1554.21,"body":"committed contracts, that it just starts"},{"startTime":1554.21,"endTime":1557.87,"body":"to make a lot more sense because you"},{"startTime":1554.21,"endTime":1557.87,"body":"start to reduce that rate volatility."},{"startTime":1558.169,"endTime":1561.98,"body":"And if it's only a small portion of"},{"startTime":1558.169,"endTime":1561.98,"body":"the market, that's floating, that's,"},{"startTime":1562.04,"endTime":1566.21,"body":"that's better where it could be, you"},{"startTime":1562.04,"endTime":1566.21,"body":"know, almost a hundred percent of"},{"startTime":1566.21,"endTime":1568.639,"body":"your business that's that's floating."},{"startTime":1568.669,"endTime":1571.19,"body":"Or again, there's been bad"},{"startTime":1568.669,"endTime":1571.19,"body":"behavior on both sides."},{"startTime":1571.19,"endTime":1571.7,"body":"I think."},{"startTime":1571.97,"endTime":1574.79,"body":"So it's not pointing,"},{"startTime":1571.97,"endTime":1574.79,"body":"saying carriers or shippers."},{"startTime":1574.79,"endTime":1578.33,"body":"I think you've seen it"},{"startTime":1574.79,"endTime":1578.33,"body":"on both sides, but why."},{"startTime":1578.9,"endTime":1583.09,"body":"That temptation, when the"},{"startTime":1578.9,"endTime":1583.09,"body":"gaps there is just creates a"},{"startTime":1583.1,"endTime":1584.72,"body":"poor product for either party."},{"startTime":1584.72,"endTime":1588.86,"body":"And that's why the commitment and"},{"startTime":1584.72,"endTime":1588.86,"body":"having a committed contract in"},{"startTime":1588.86,"endTime":1592.22,"body":"my view makes a lot of sense and"},{"startTime":1588.86,"endTime":1592.22,"body":"is really the way of the future."},{"startTime":1592.4,"endTime":1597.5,"body":"Because again, that example I gave"},{"startTime":1592.4,"endTime":1597.5,"body":"earlier of like award versus MQC, which"},{"startTime":1597.5,"endTime":1602.03,"body":"is it well, which is, and, and it's just"},{"startTime":1597.5,"endTime":1602.03,"body":"hard for, for either party to deal with"},{"startTime":1602.03,"endTime":1602.27,"body":"that."},{"startTime":1602.69,"endTime":1606.98,"body":"Yeah, well, it's certainly one of the"},{"startTime":1602.69,"endTime":1606.98,"body":"most important strategic questions"},{"startTime":1606.98,"endTime":1609.919,"body":"that shippers are considering"},{"startTime":1606.98,"endTime":1609.919,"body":"and asking themselves, right."},{"startTime":1609.919,"endTime":1613.28,"body":"Of the contract vehicles that"},{"startTime":1609.919,"endTime":1613.28,"body":"are available to me, which"},{"startTime":1613.28,"endTime":1614.75,"body":"ones am I going to employ?"},{"startTime":1614.78,"endTime":1617.81,"body":"And how am I going to incorporate"},{"startTime":1614.78,"endTime":1617.81,"body":"them into my business?"},{"startTime":1617.81,"endTime":1618.86,"body":"What makes the most sense?"},{"startTime":1618.86,"endTime":1622.129,"body":"I think that the thing that I"},{"startTime":1618.86,"endTime":1622.129,"body":"would just recommend as, as we"},{"startTime":1622.129,"endTime":1623.655,"body":"finish out is."},{"startTime":1623.655,"endTime":1625.688,"body":"Take a diversified  approach."},{"startTime":1625.688,"endTime":1626.705,"body":"Don't put"},{"startTime":1626.705,"endTime":1630.545,"body":"all your eggs in one basket,"},{"startTime":1626.705,"endTime":1630.545,"body":"obviously, but, but test and"},{"startTime":1630.545,"endTime":1632.135,"body":"learn, you know, try something."},{"startTime":1632.135,"endTime":1638.765,"body":"If, if it truly is going to be the wave"},{"startTime":1632.135,"endTime":1638.765,"body":"of the future and ocean contracting as"},{"startTime":1638.795,"endTime":1643.235,"body":"Maersk and other carriers have suggested"},{"startTime":1638.795,"endTime":1643.235,"body":"that committed agreements are where we"},{"startTime":1643.235,"endTime":1647.075,"body":"are going and where we'd like to go with"},{"startTime":1643.235,"endTime":1647.075,"body":"our customers and shippers are saying."},{"startTime":1647.48,"endTime":1649.73,"body":"We're testing and learning"},{"startTime":1647.48,"endTime":1649.73,"body":"and using it today."},{"startTime":1649.73,"endTime":1651.02,"body":"And it's working for us."},{"startTime":1651.58,"endTime":1656.12,"body":"I would just encourage shippers to,"},{"startTime":1651.58,"endTime":1656.12,"body":"to, to figure out, you know, how you"},{"startTime":1656.12,"endTime":1657.344,"body":"can try it."},{"startTime":1657.344,"endTime":1658.16,"body":"It's certainly"},{"startTime":1658.16,"endTime":1661.61,"body":"not one of these things where"},{"startTime":1658.16,"endTime":1661.61,"body":"you're probably going to, again,"},{"startTime":1661.61,"endTime":1662.3,"body":"jump in."},{"startTime":1662.3,"endTime":1663.335,"body":"With a hundred"},{"startTime":1663.335,"endTime":1668.285,"body":"percent of your business, but figure out"},{"startTime":1663.335,"endTime":1668.285,"body":"as Don said, what, what makes sense, where"},{"startTime":1668.285,"endTime":1673.235,"body":"you have consistent regular business and"},{"startTime":1668.285,"endTime":1673.235,"body":"take a chunk of that and put it into a"},{"startTime":1673.235,"endTime":1674.855,"body":"committed agreement and see how it works"},{"startTime":1674.855,"endTime":1675.515,"body":"for you."},{"startTime":1675.515,"endTime":1676.835,"body":"But but my, my"},{"startTime":1676.835,"endTime":1679.655,"body":"encouragement would be is"},{"startTime":1676.835,"endTime":1679.655,"body":"to, to test it and learn it."},{"startTime":1680.135,"endTime":1681.365,"body":"And then as"},{"startTime":1681.365,"endTime":1683.795,"body":"things become more broad"},{"startTime":1683.795,"endTime":1687.005,"body":"in the market in terms of acceptance"},{"startTime":1683.795,"endTime":1687.005,"body":"and usage, you'll, you'll be in a"},{"startTime":1687.005,"endTime":1688.325,"body":"position to take advantage of that."},{"startTime":1689.045,"endTime":1689.315,"body":"Yeah,"},{"startTime":1689.315,"endTime":1690.754,"body":"I think that's great advice, Brian."},{"startTime":1690.754,"endTime":1694.325,"body":"And I think one of the topics we've talked"},{"startTime":1690.754,"endTime":1694.325,"body":"about is, you know, customer of choice."},{"startTime":1694.685,"endTime":1699.065,"body":"And I think having the ambition to"},{"startTime":1694.685,"endTime":1699.065,"body":"move in this direction from a shipper"},{"startTime":1699.065,"endTime":1703.445,"body":"side and presenting that to a carrier,"},{"startTime":1699.065,"endTime":1703.445,"body":"demonstrates that, Hey, this is somebody"},{"startTime":1703.445,"endTime":1704.945,"body":"who really wants to be a partnership."},{"startTime":1704.975,"endTime":1708.875,"body":"You know, I can tell you a lot of times in"},{"startTime":1704.975,"endTime":1708.875,"body":"my life it felt like the word partnership"},{"startTime":1708.875,"endTime":1710.585,"body":"was thrown around when things were"},{"startTime":1710.635,"endTime":1712.475,"body":"happening in a terrible"},{"startTime":1712.475,"endTime":1712.895,"body":"way."},{"startTime":1713.284,"endTime":1715.054,"body":"And, and that's not really the time."},{"startTime":1715.054,"endTime":1715.235,"body":"Right?"},{"startTime":1715.235,"endTime":1719.885,"body":"It's that, that upfront saying like,"},{"startTime":1715.235,"endTime":1719.885,"body":"Hey, can we work together to do something"},{"startTime":1719.915,"endTime":1721.564,"body":"different and do something better?"},{"startTime":1721.564,"endTime":1724.955,"body":"So we don't feel bad at"},{"startTime":1721.564,"endTime":1724.955,"body":"the end of this contract."},{"startTime":1724.955,"endTime":1728.314,"body":"Like, ah, neither one of us"},{"startTime":1724.955,"endTime":1728.314,"body":"delivered for whatever reason."},{"startTime":1728.645,"endTime":1732.574,"body":"And, and I think that's"},{"startTime":1728.645,"endTime":1732.574,"body":"where we help in that space."},{"startTime":1732.879,"endTime":1737.919,"body":"We're essentially facilitating that two"},{"startTime":1732.879,"endTime":1737.919,"body":"way commitment that we're a neutral party."},{"startTime":1737.949,"endTime":1739.03,"body":"We see both sides."},{"startTime":1739.06,"endTime":1744.129,"body":"And I think what's great to be a part"},{"startTime":1739.06,"endTime":1744.129,"body":"of Nintex is to see that there are"},{"startTime":1744.129,"endTime":1748.899,"body":"carriers and there are shippers that are"},{"startTime":1744.129,"endTime":1748.899,"body":"like, Hey, I want to find a solution."},{"startTime":1748.929,"endTime":1749.8,"body":"Can you help us?"},{"startTime":1749.83,"endTime":1754.43,"body":"And, and to be part of that experience,"},{"startTime":1749.83,"endTime":1754.43,"body":"With the carrier saying, yeah, I want"},{"startTime":1754.43,"endTime":1757.94,"body":"to try and help you and ship her saying"},{"startTime":1754.43,"endTime":1757.94,"body":"like, Hey, listen, let's, let's, I'm"},{"startTime":1757.94,"endTime":1759.41,"body":"going to share this information with you."},{"startTime":1759.56,"endTime":1762.44,"body":"Help me come up with"},{"startTime":1759.56,"endTime":1762.44,"body":"a plan is really cool."},{"startTime":1762.62,"endTime":1766.94,"body":"And why, I mean, me personally, I'm"},{"startTime":1762.62,"endTime":1766.94,"body":"convinced that it makes sense to"},{"startTime":1766.94,"endTime":1768.71,"body":"go this way and in this direction."},{"startTime":1769.46,"endTime":1769.91,"body":"Very good."},{"startTime":1770.03,"endTime":1770.99,"body":"I totally agree."},{"startTime":1771.86,"endTime":1772.25,"body":"Cool."},{"startTime":1772.7,"endTime":1774.08,"body":"Well, I think that wraps it up for this"},{"startTime":1774.08,"endTime":1774.608,"body":"episode."},{"startTime":1774.608,"endTime":1776.72,"body":"And so I want"},{"startTime":1776.72,"endTime":1777.47,"body":"to thank everybody for"},{"startTime":1777.47,"endTime":1778.88,"body":"listening and we'll see"},{"startTime":1778.88,"endTime":1779.75,"body":"you guys next week."},{"startTime":1782.585,"endTime":1783.005,"body":"Thanks for"},{"startTime":1783.005,"endTime":1785.645,"body":"listening to the supply"},{"startTime":1783.005,"endTime":1785.645,"body":"chain secrets podcast."},{"startTime":1785.975,"endTime":1789.005,"body":"Make sure to subscribe to the"},{"startTime":1785.975,"endTime":1789.005,"body":"podcast on your favorite podcast"},{"startTime":1789.005,"endTime":1789.665,"body":"network."}]}