ArcBest Named a 2024 FreightTech 25 Most Innovative Company

Rhea-AI Summary

ArcBest (Nasdaq: ARCB) has been named to the 2024 FreightTech 25, ranking No. 20 among innovative companies in the transportation industry's tech landscape. The company's commitment to innovation and disruptive technology in the logistics sector is reflected in its investments in technology, including Generative AI and advanced freight handling technology, to enhance customer experiences and drive industry forward.

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• ArcBest's recognition in the FreightTech 25 reflects its commitment to innovation and disruptive technology in the logistics sector, positioning the company as a leader in the transportation industry's tech landscape.
• The company's focus on strategic investments in technology, including Generative AI and advanced freight handling technology, demonstrates its commitment to enhancing customer experiences and driving industry forward.

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Integrated logistics company recognized for industry-leading innovation in the freight technology sector

FORT SMITH, Ark.--(BUSINESS WIRE)-- ArcBest® (Nasdaq: ARCB), a leader in supply chain logistics, announced today that the company has been named to the prestigious 2024 FreightTech 25, ranking No. 20 among the most innovative and disruptive companies changing the transportation industry’s tech landscape. This year’s list honors industry veterans and newcomers who have made a notable impact in a difficult environment for tech companies.

“ArcBest’s innovative spirit is a strong part of our company’s culture, and we aren’t afraid to disrupt ourselves and our industry,” said Judy R. McReynolds, ArcBest chairman, president and CEO. “As the transportation and logistics industry rapidly evolves, we’re making strategic investments in technology that help us solve our customers’ toughest challenges and enable them to serve their customers well. Being selected for the FreightTech 25 for the first time reflects our heightened focus on building smarter, faster and more efficient solutions that enhance our customers’ businesses and drive our industry forward.”

With a 100-year history of innovation, ArcBest is focused on helping customers navigate industry challenges by finding the most efficient ways to keep freight moving and businesses growing. The company’s tech stack includes solutions for shippers and carriers and offers full digital connectivity, end-to-end visibility, robust reporting, intuitive freight management, the highest security standards and groundbreaking innovation. ArcBest invests nearly $150 million annually in technology and innovation, with half of that focused on strategic projects and transformative initiatives. Examples of this include utilizing Generative AI to increase efficiency in the company’s own operations and in its customers’ operations and developing new technologies that advance the intralogistics industry.

“The logistics industry is in a pivotal moment in time, and we’re responding to that by tracking emerging trends and ensuring we offer the technology solutions that meet the changing landscape and drive better outcomes for our customers,” said Michael Newcity, chief innovation officer at ArcBest and president of ArcBest Technologies. “We’re focused on human-centered design — from enhancing customer and employee experiences to evolving business models and advancing innovative products and solutions — which is how we continue to deliver industry-firsts like Vaux, our advanced freight handling technology.”

Learn more about the Vaux Freight Movement System, which was announced in March 2023.

FreightWaves revealed the winners of the 2024 FreightTech 25 on the final day of the F3: Future of Freight Festival held November 9, 2023, in Chattanooga, Tennessee. Nominations were narrowed down from the FreightTech 100, announced in September 2023, and then voted on by a peer group of CEOs, industry leaders and investors to select the FreightTech 25. Chattanooga, Tennessee-based accounting and auditing firm HHM administered the vote, which was a simple points system based on voters’ rankings.

ABOUT ARCBEST

ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with over 15,000 employees across more than 250 campuses and service centers, the company is a logistics powerhouse fueled by the simple notion of finding a way to get the job done. Through innovative thinking, agility and trust, ArcBest leverages its full suite of shipping and logistics solutions to meet customers’ critical needs, each and every day. For more information, visit arcb.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115744414/en/

Autumnn Mahar

Phone: 479-494-8221

Email: amahar@arcb.com

Source: ArcBest

FAQ

What is ArcBest's ranking in the 2024 FreightTech 25?

ArcBest is ranked No. 20 among the most innovative and disruptive companies in the transportation industry's tech landscape in the 2024 FreightTech 25.

What technology solutions does ArcBest offer?

ArcBest's tech stack includes solutions for shippers and carriers, full digital connectivity, end-to-end visibility, robust reporting, intuitive freight management, and the highest security standards.

How much does ArcBest invest annually in technology and innovation?

ArcBest invests nearly $150 million annually in technology and innovation, with half of that focused on strategic projects and transformative initiatives.

What are some examples of ArcBest's technology investments?

ArcBest utilizes Generative AI to increase efficiency in its operations and its customers' operations, and develops new technologies that advance the intralogistics industry.

What is Vaux?

Vaux is ArcBest's advanced freight handling technology, demonstrating the company's commitment to delivering industry-firsts through human-centered design.