The Last Mile: an $80 Billion Global Logistics Problem and the Blockchain Solution

About this Think Tank

The term "last mile" was originally used in the telecommunications field but has since been applied to supply chain management. Transporting goods via freight rail networks and container ships is often the most efficient and cost-effective manner of shipping. However, when goods arrive at a high-capacity freight station or port, they must then be transported to their final destination. This last leg of the supply chain is often less efficient, comprising up to 28% of the total cost to move goods. This has become known as the "last mile problem." The last mile problem can also include the challenge of making deliveries in urban areas. Deliveries to retail stores, restaurants, and other merchants in a central business district often contribute to congestion and safety problems.” -- Wikipedia

It is unquestionably the biggest, most expensive problem in freight and shipping around the world that haunts literally every industry and every business (from goliaths like Amazon to local mom-and-pop, neighborhood shops) that rely on shipping and receiving merchandise. And with the explosion of ecommerce causing an all-out delivery war between ecommerce giants (Amazon and Wal-Mart Battle for the Last Mile), and consumers' growing demand to have their merchandise delivered in 2 days or less (with ecommerce expecting to grow to $2.5 trillion by 2020), the last mile is an increasingly complicated problem that will potentially cripple the entire supply chain in the near future if solutions aren't implemented soon.

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JOIN US for our next thought-provoking, take-action think tank as we tackle the biggest problem in shipping today with a technology that many experts say is the freight and shipping industry's greatest hope of innovating the industry: BLOCKCHAIN.

Our special guest presenter, Shankhri Balaji (Strategist and Project Manager at Fr8 Network, a startup that is solving the last mile problem through their intelligent blockchain-backed marketplace), will walk us through the complicated landscape of problems in modern shipping and freight today that everyone is trying desperately to solve with a myriad of technologies (blockchain, AI, drones, autonomous vehicles, etc.). Working hands-on to solve this problem with shipping and freight companies for Fr8 Network, Shankhri has a very intimate and unique perspective on the last mile problem and the challenges with trying to solve it. She will explain the last mile problem and give us an overview of the Fr8 Network Whitepaper.

After getting us up to speed on the complexities of the the last mile problem, who the stakeholders are, and where the opportunities are to provide solutions that the freight industries and companies are desperate for, we will break out into groups for our think tank session.

Can You Solve the Last Mile Problem?

Get up to speed quickly on the shipping and freight industry's problems with last mile logistics with this suggested reading list:

  • In Global E-Commerce, the Race to Solve the 'Last Mile'  <<read more>>

  • The Customer Genome – The Secret Weapon of The Last Mile Delivery War (Accenture report)  <<read more>>

  • Parcel Delivery, the Future of the Last Mile (McKinsey Report) <<read more>>
  • Amazon's Last Mile <<read more>>

  • This is how Walmart, Amazon, Target and others are coming up with new ways of getting more stuff to you faster  <<read more>>

  • How will same-day and on-demand delivery evolve in urban markets?  <<read more>>

  • Truckers Seek New Routes Into ‘Last Mile’: E-commerce is creating more big, bulky orders, but home delivery also brings oversize transportation and logistics costs (WSJ)  <<read more>>

  • How crowdsourcing is helping to improve the troublesome last mile of e-commerce delivery  <<read more>>

  • UPS bets on blockchain as the future of the trillion-dollar shipping industry  <<read more>>

  • The Last Mile: How Small Business Can Win the Delivery Race with Amazon  <<read more>>

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About Shankhri Balaji

Shankhri Balaji joined Fr8 Network, a blockchain shipping & logistics company, as a Strategist & Apprentice to the CEO and soon assumed the role of Community and Project Manager.

Previously, she led finance and operations at a virtual reality & augmented reality consulting and development studio, where she was responsible for developing both internal and clientele processes from the ground up.

As an instructor for academic boot camps and product user workshops, she developed a strong affinity for education in technology and has recently been delving deep into various knowledge-sharing initiatives such as #LearnWithFr8, a collaborative learning series for those looking to learn about blockchain and its particular use cases for shipping and logistics, and multiple #WomenInBlockchain and #WomenofCrypto groups and projects. As a young woman, she’s more than humbled by the opportunities afforded to her through this space and the supportive, collaborative nature of those working within it.

About Fr8 Network

Fr8 Network, based in NYC, defines itself as: "A single source of truth for blockchain enabled logistics... building the efficiency layer and developing the standards protocol behind it to solve today's challenges and power the future of supply chain. The Fr8 Marketplace is a set of decentralized applications (dApps) that are designed to streamline the industry's fractured value chain by transparently connecting key stakeholders, removing high-cost arbitrage, and redistributing revenue. We're starting by solving the inefficiencies in the $700 billion United States over-land freight market. Carriers and shippers will be able to coordinate shipment transactions through customizable smart contracts. The Fr8 Marketplace gives users full visibility into available capacity, user ratings, and pricing data."

Event Agenda:

Food and beverages included. 

  • 6PM - 6:20PM: sign in, networking, light bites and beverages
  • 6:20PM - 6:30PM: overview presentation and speaker intro
  • 6:30PM - 6:55PM: Shankhri's presentation
  • 6:55PM - 7:45PM:  group problem-solving exercises (think tank) and presentations
  • 7:45PM - 8PM: Q&A with Shankhri's and then it's a wrap!

Awesome Event Partner

TechHub NYC (located in Chelsea at 158 W27th St) is the global community for tech entrepreneurs and startups. They support the growth of over 750 companies across the world, whether they're founders getting started, or fast-scaling 50 to 100-person teams. TechHub's approach is different to that of an accelerator - we don’t take equity, invest in or impose success metrics or membership time limits on our startups. Learn more about their unique offerings and exceptional community at https://nyc.techhub.com

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Start Time

6:00 pm

Thursday, June 28, 2018

Finish Time

8:00 pm

Monday, May 28, 2018

Address

TechHub NYC, 158 W 27th St, New York, NY 10001

Event Participants