Expeditors International of Washington, Inc. (EXPD) Earnings Call Transcript & Summary

All right. Great. Just going over a couple of housekeeping things before I pass it over to Jacob. This webinar is going to be about 45 minutes with a demo, and then we'll leave about 15 minutes for questions at the end. This webinar will be recorded. So once I pass it off, I'll get that started. We ask that you submit all of your questions in the Q&A chat box. And throughout the webinar or during that Q&A session, your answer will be -- your question will be answered. If we, for some reason, don't have time to get to it, then I will pass that along to our hosts and they will get in contact with you as soon as they can. There will also be a feedback survey that will be sent out at the end of this webinar. Let me just ask that you fill that out, give us any feedback that you have, any concerns or any ideas that you have for the future -- for future webinars. And then we will be sending out like a case study and a couple of flyers to do with what we are talking about today. So I think, without further ado, I hand it over to Jacob and get us started.

Great. Thank you. Hello, everyone. My name is Jacob Sirlin, and I'm the manager for delivery management in the Americas. I've been with Expeditors for just about 8 years almost. During that time, running a few large-scale delivery management programs. So what we're going to do today is really just walk you through what delivery management is here at Expeditors and what type of problems it is looking to solve for you all. So today, we have both myself and Alec Driskill, who are going to be presenting and speaking throughout the webinar. We look forward to telling you about the delivery management service at Expeditors. So we can jump over to the next slide. We're going to start off with a poll question. So Cherokee, it looks like we've got 2 showing there. We only want one. Okay.

Okay. Sorry, it's going to be both for this one.

So we have 2 in one, 2 questions in one here. The first one is the -- it's asking, your company primarily utilizes the following for container deliveries. And do keep in mind that these are completely anonymous, all your questions, so we're only going to see the totals adding up. We do not see who has selected what. But your 3 options are carrier haulage with door rates with the carrier or the steamship one; merchant haulage, where you own and arrange the final deliveries with your dray providers; or other, a fully outsourced 4PL. So I'll give you just a moment to go ahead and enter those answers before we jump right into the next question. [Voting]

All right. Okay. So the second question we have here, and basically, we're looking at what your biggest headache is. What was your biggest headache? Or so far in 2023, what has your biggest headache been? We have the ability to control costs of accessorials and storage, your detentions and demurrage; the ability to know when a container is available to pick up or be dispatched; having the space and/or labor available at your DC or warehouse to unload those containers; the ability to match an available trucker with an available load; the ability to schedule receiving in a consistent manner; the ability to prioritize and get the container with the product we need at the right time; management of the warehouse, knowing when those containers are unloaded and ready to return; or all of the above; or in a very unlikely case, none of the above. So again, completely anonymous. We obviously want you to answer truthfully so we can get a good read on where your problems lie. So we'll give just another minute to allow you to answer both of those questions. [Voting]

Okay. All right. So once we get the majority answering, we should be good to go, Cherokee. Are we all right to go ahead and -- with the answers?

Yes, I'll go ahead and head into that.

Perfect. All right. So for the first one, it's actually pretty evenly split, and that does not surprise me with the recent trend in a lot of the steamship lines moving away from those carrier door deliveries. So we are beginning to see that spread out. Whereas a couple of years ago, it may have been much more heavily weighted in that carrier haulage. The good thing is with delivery management, it works with each of these different types. We can handle the steamship lines' dray providers. We, Expeditors, can be contracted out as the dray provider and do the delivery management along with the trucking, and then we can also manage your own dray providers if you do contract those out yourself. Okay. And the second question, the biggest headache. The cost control is always going to be a big one. The ability -- as is the ability to know when the container is available. That's been a problem going well back before COVID where it was an even larger issue, but that's been one of those persisting that has always really been there. And we do see a few all of the above and a couple of none of the above, but it is pretty evenly spread out among those 9 choices. So that does give us a good idea. Thank you all for answering those questions. I can jump on to the next slide. And I'm going to hand it over to Alec and he's going to go over a few items about the Expeditors process.

Thank you, Jacob. Hi, guys. So my name is Alec Driskill. I am the order management, delivery management manager here in Dallas. So kind of boots on the ground, if you so. We also have kind of a team. So in terms of kind of what we do, so really it starts with kind of the plan. So this is predominantly focused on container imports, working with a lot of the planning besides not just who's going to pick up but when it's most efficient to pick up as well as scheduling the plan for your DC to deliver or take that order into the warehouse. And all of that [indiscernible] process flows as smoothly as possible. So from the order rate, the -- all the work is to order. Most of this is obviously produced in the other side of the world, booked to move across, and pending all the pieces to deliver complete to your warehouse. We match those truckers based on either your rules or as Jacob hinted at, right, if we can do that ourselves where we'd be in contact as well, we'd do that. But we give you a platform and an ability to see everything in its motion, timely and available, while all group together to avoid unplanned storage costs. Next slide, Cherokee.

Okay. Great. Thanks, Alec. We will have more to come from Alec. Yes, he's going to jump back in here after I run through just a couple of delivery challenges. So where we're at now is we wanted to identify 3 of the primary challenges that companies are facing with this final mile or the delivery management process. We're going to start with managing the space and labor. So obviously, a big contributing factor to that is just not knowing when containers are going to arrive. You can get the ETAs from the steamship lines, but those are historically very inaccurate. And on that end, it also doesn't tell you when they're going to actually be available. So part of what the delivery management service is the tracking. So we have internal tracking tools that do not just rely on any one way of tracking a container from the steamship lines, the ports, the GPS, we have access to all of that. And we've put together a proprietary algorithm that is really quite accurate. So 10 days out from arrival, our predictive algorithm is 90-plus percent accurate. So that gives you a minimum of 10 days to really have some pretty good assurances of when a container is going to arrive and if they're going to be a spike in overall volume for those next couple of days. That allows for those early decisions to be made, meaning when those containers are going to deliver, how much labor do I need at the warehouse to ensure that we're going to be able to unload all of those containers. And also, are we going to have the trucking capacity available? If you average 3 containers a day, but over a weekend, you get 20 containers that have all arrived, unless you are prepared for that, that's going to result in some demurrage and likely some detention on the other end as well. And it also just allows for that predictability. So knowing that when you're looking at a forecast that you can be pretty certain that it's accurate. That provides a lot of those assurances to be able to plan out your schedules, your labor, the trucking, all those previously mentioned items. Really does make that final mile flow much smoother when you can count on the arrival dates that you're looking at to be, in fact, accurate. Then jumping over into the second delivery challenge, and that's managing the process. As I mentioned before, with a lot of the carriers exiting the market, and it's being more and more often left up to the customer to handle that delivery or to contract out to a company like Expeditors to handle that. It increases the complexity. It makes it a whole lot more to manage when usually, you would ship it off to the carrier and they would take it from there. What this delivery management service does is, I mentioned before, it works with all models. But what it does is it provides that centralized process as well, where we're all working off the same data. We have visibility to the same milestones coming in. Also, when priorities are set, so this allows you and your teams to prioritize the containers weeks before they arrive. So if the container becomes visible on our platform at that confirmed onboard period, then any time after that, you're going to be able to set a priority to a container. And once we get into the brief demo, I will show you what that looks like. So really think about high, medium, low. High being the hot container. If you're able to identify which containers are hot much earlier on in the process, once it comes time to scheduling, our team, the warehouse, the truckers are all going to have visibility to those high-priority containers and know to get those on the schedule much quicker. Also, assigning truckers. That can be done within the platform. So it's a simple drop-down. We'll have all of your dray providers loaded in there, and you're going to be able to assign those or have the Expeditors delivery management team assign those just directly in the platform. Now getting on to our last one, the managing costs. So this is obviously a very big point and a big piece of the platform is focusing on that detention and demurrage. And one of the great things with this is that in our dashboard view, which again, we'll get into a little bit in a few moments here, you're going to be able to see how much free time remains on all of your containers that have arrived at port or rail and how much time they have remaining until they need to be picked up. And then also on the other end, you're going to see how much free time remains once the container outgates until the empty needs to be returned back to the port or rail. And that visibility alone right there and taking away the process, taking away the Expeditors team focusing on your program, that alone right there will reduce cost, just having that visibility to what the true dates are and how much time remains. Add in the Expeditors team that is going to be managing these and going to be working with all of the teams involved, that helps with that consistency and just having the same team. Again, one version of the truth, having that data centralized for all to view really is quite valuable. Cherokee, we can jump to the next slide. We got some of the animations there. Okay. So right now, I'm going to talk you through a little bit of the history of delivery management and how we got to this point. Back in 2012, we got our first request as a company from a very large importer. They wanted us to find and come up with a better solution to manage those inbound containers. They were moving, say, 50,000, 60,000 containers minimum, and they were struggling greatly with the demurrage, the detention, visibility, really everywhere, just gathering all that information and having a centralized process even to go off of, okay? So fast forward 2 years, 2014, we had created a fully functioning solution. In my view, this was not the solution you're going to see today. Back in 2014, it was extremely manual, a lot of spreadsheets, a lot of e-mails, a lot of phone calls, but it was the start of where we are now. It's what got us thinking about the delivery management service as a whole. So then jump 3 more years to 2017, we were managing over 100,000 containers. The customer base was expanding. The need for this service was continuing to grow. As the more freight comes in, the more issues dealt with at the port, the more there is a need to cut costs. So now we get to 2020. Over 200,000 containers being managed by the delivery management solution. That's when we decided, okay, we need to build out a true platform for this and get away from the reliance on the Excel spreadsheets, the many, many e-mails flowing back and forth, all the phone calls, video calls, everything that was involved. So we began building out that platform that we're going to show you today. 2022, about 7, 8 months ago from now, we released it. We launched the platform. We had loaded customers on. We're now up to about 400,000 containers, give or take, on the platform. So it continues to grow. The value is there. We see a pretty solid reduction within the first few months of the detention and demurrage spend that go with this platform. And again, that's heavily weighted on the demurrage and detention visibility you have and also the ability to plan so much farther in advance. And again, having all the users working off the same set of data really does provide quite a bit of value there. All right. Now we're going to pause here real quick and have one more poll question for you. So the approximate amount. In this, we're looking for the annual spend. You can go back to what you spent in 2022 if you'd like or take the 2023 and extrapolate it through the end of the year. But we're looking just again, completely anonymous, looking for round numbers, but what did you spend on detention and demurrage over the last year? $5 million plus, $3 million to $5 million, $1 million to $3 million, $500,000 to $1 million or 0 to $500,000. So we'll give you a few moments here to go ahead and answer that question. [Voting]

Cherokee, whenever it looks like the majority have gone, feel free to display.

Yes, I'll give it just a couple more minutes or seconds. Last call?

Okay. All right. So again, pretty evenly distributed here. There are a good amount of 0 to $500,000. So I mean that's great. The less the detention and demurrage that you all are paying is always going to be for the better. Even if the D&D is not the primary focus for you all looking into delivery management, I think the visibility and the collaborative nature of the platform provides a serious amount of value and really does go a long way in bringing in the truckers, bringing in the DC to the conversation, being able to schedule containers with the input from the DC and the truckers, which again, once we get to the demo portion, I'll be able to give you a brief view of what each of these different solutions look like within the platform and how we solve each of these different issues. But before we do jump into that, I'm going to shoot it over to Alec one more time and go to the next screen.

All right. Thanks, Jacob. Yes. So what we really wanted to highlight here is, obviously, this is not just -- obviously, we hinted a platform. The platform is really designed as the technology piece to be able to show you, your warehouse, customer level, trucker level, all of the information that we associate with the delivery, expected arrival, when it's expected to arrive, what that scheduled time is. But at its whole, delivery management is a service that includes people, process and technology. As Jacob talked about earlier, we've been doing this as a product for well over 10 years now. And we've taken some of the best processes that we've learned, some of the knowledge we've learned along the way and all the data and kind of aggregated it into the platform that you'll see here next. So really, at its heart, technology being the platform, process being -- we've done this for close to 10-plus years. So we know what exceptions to look for, which business rules would apply to your containers or those steamship lines, obviously, ensuring that the data is accurate. And then as myself, right, or your local agent, having the escalation points to ensure that things are picked up timely and delivered timely. We've created some KPIs and scorecards and dashboards to tell you how we're doing. Not just us, but how you're doing, if the process is working for you, giving some of an insight to even the cost savings on a month-by-month basis and if it's trending downwards or upwards or where that problem may lie. And at the heart of it all is the people. We aren't just giving you the visibility. We're giving you a team to help you run that and better manage that and group all of that information together into one location, so everybody knows everything going on at one time. And then having our day-to-day expertise to be able to help maybe identify those challenges or work those challenges going forward. But -- that's all I had to say there. Thanks, Jacob.

Right. Yes. Thank you, Alec. I appreciate that input from the field. Alec and his team have been running a few very, very successful delivery management program. So wanted you all to get some of that boots on the ground knowledge and have Alec speak a little bit. So Cherokee, you can go ahead and stop sharing. I am going to start sharing my screen, and we'll go into a brief demo. Before we do that, there are a couple of points that I wanted to hit on that will help you just understand where this information is coming from, who and how is it being input into the platform. So first off, the information that you're seeing here, this is a demo data. This is dummy data. This is nobody's actual customer data that we're viewing here. But how we get visibility to the information. First off, either we are handling another service for you. We're doing order management, brokerage, ocean, trucking. Whatever it is, if we are doing any of those other services, we're going to be able to pull from that data and load your container information into the platform here. But that is not the only way we get data. We also can handle just the delivery management as a stand-alone service. So we don't have to be doing any other service, the forwarding, ocean, brokerage, anything like that. In those cases, you all would provide us with a sort of on-the-water report that give us very basic information, container, master bill, size, weight, origin, destination, port or rail of arrival. As long as we have that info, we're able to begin the process, so we can start the tracking. We can load it into this dashboard for your visibility, for your truckers, DC, for everyone's visibility. That's one of the nice things about this is it truly can be done paired with another service at Expeditors or completely stand-alone. But one benefit of doing it with, say, an order management is it really does round out the service. So order management offers the origin solution. So you're getting all the visibility, what kilos are loaded, once the container is leaving that origin, where delivery management comes in right there. Once the container has been loaded onto the rail or a vessel and is beginning the transit towards its destination, that is where delivery management would take over. So again, it really does fit in any of the different solutions, whether you pair it with another service or you're just looking for us to manage the final delivery from another forwarder's service. So that's one of the nice things there. The other is that it is a truly collaborative platform, meaning the dray providers. We're going to give access to them. So the great -- the good thing about that is they are only able to see containers once they've been assigned to them. So dray provider A is not going to see containers that are either unassigned or are assigned to dray provider B. Also, we give access to your operations teams and your distribution center or warehouse because ultimately, that warehouse, they can be involved in the schedule-making process. So it is truly collaborative. Also, the dray providers and the DC can go into this platform and input milestones. So if they don't have an EDI connection and they outgate a container from the port or rail, deliver it to the DC, they can actually go into this platform here and enter those milestones, which I'll show you in just a few moments. But what I want us thinking about now is going back to those 3 problems that we discussed earlier in the presentation. First one, if you recall, was managing the space and the labor. So you can see here on our dashboard view, I'm now shifting over to our schedule. Because what I want to give you an idea of here is what the DC would see. So if they needed to block off, let's say -- or actually, let's go back and start. So the way the scheduling is done is we have our available containers over here on the left-hand side. You can see that there is 3 exclamation points next to this FSCU container. I wanted to drag that, get it on the schedule for Saturday. Okay, very good. It blocked me from doing so. And if you see here, the appointment event date should be after the -- these are estimated arrival. So now if I wanted to go see, okay, when does this arrive? I can actually just click on that container and scroll down, okay, this doesn't arrive until June 30. We tried to schedule it for the 24th. So now I can kick out to the next week, as we are loading. When it always goes slow is when you're in the middle of a demo. Let's see here. I'll tell them, it's not always this slow. All right, there we go. So we go over to the first. Now you see it was able to schedule. So since the arrival date was the 30th, it won't allow you to schedule the container for delivery until after that has been done. So one user can drag and drop and schedule. Another user can come in and confirm it. Now mind you, since this is a managed service and what we mean by a managed service is that the Expeditors team ultimately is handling every aspect, it can also be part of what the DC say wants to handle. So if the DC wanted to be involved with the providers, we want them to be involved in the actual -- excuse me, the actual schedule-making process, we can do so. We can give them access and the ability to be involved in the actual scheduling of the container. So let's say your DC. The following week, this week of the 26th, they're going to be doing inventory in the 27th and don't want any containers to be scheduled. They can actually go in here, check all these different slots here and block them. So now when a user goes in to try and schedule, they can't schedule. So if you try to drag this into there, you cannot schedule a container for a blocked slot. So this allows for your DC to do some managing within the platform, whether they have outbound containers on slot 2 on Wednesday. I can block that, so then no schedule or no container can be set for that specific day. So it allows you for that control. It allows your DC to really know what's coming in, approve what's coming in, in some cases and also block off slots or open them up if they need be. Just like on July 2nd, Sunday, if you need it to open up for one container, you can unblock the slot. So now a container could be scheduled for Sunday, July 2nd. All right. Now jumping back into the dashboard. We wanted to talk about the processes a little bit, and that involves assigning the priorities, assigning dray providers. So I'm going to give a quick high level of what the dashboard looks like. So our first bucket here, the in-transit. What this looks at is all your containers that are on water or on rail and have not yet arrived at the final port or rail of destination. So the circle chart shows everything. We have a few color codes that break down different bits of information such as the dark blue being prioritized containers. The light blue green is no priority assigned. We also have the yellow and red, which are focused on the delivery location. So if you do not have your final DC assigned, it will show up in that yellow or red. That's something we very much want to call out. Also, down in the bar chart below, this focuses on the exact number of containers that are set to arrive on any given day over a 2-week period. So this will constantly be moving. Today is the 20th through July 2nd. Tomorrow, it'll show the 21st through the 4th of July. And you can see here, we see the spike of 14 containers that are arriving on the 1st. This gives us a lot of time to plan for that pretty big jump in containers arriving. So you can see previous to that, our highest is 5 containers. Bumps up to 14, so we want to make sure that everyone involved is ready for that spike. Now getting back to how we assign priority, how truckers are assigned to a specific container. I just clicked on that section of the 9 containers that do not have a priority assigned. And you can see here, we're filtered down to those 9 containers and those 9 containers alone. That's just like each of the different sections in the dashboard view is whatever you click on, it's going to take you to this details view of that filtered down section. So now I'm going to go over to our priority and our trucker, which happen to be right next to each other. So you can see this OOLU container, if I wanted to assign this with high priority, you got a drop-down and assign to high priority. I also wanted to change this to the dummy trucker. I can change that to the dummy trucker. The drop -- in the drop-down, it will only show the truckers or dray providers that we have set up for your account. So the truckers that are delivering to your warehouses or DCs, those are the only ones that are going to show there. We can also set a low priority. And beyond just the 3-tiered high, medium, low, we also have a completely open item here. So you can see an example, production line B. So this is something that a customer may use as a note for their DC or the truckers to know that, hey, anything going to production line B, it's got to have priority. We also could do a simple 1, 2, 3, 4. We have 4 containers all arriving on the same day, all high priority, saying if everything is hot, nothing is hot. This way, you can assign that priority level to those containers. So if you have 4 high-priority containers, all delivering on the same day, you can give us the order, you want them in this way. So this is how you very easily, in one spot, assign a trucker, assign a priority. So by the time we do get to that scheduling stage, all of the information is set. We have everything we need and all we need to do is get that container picked up and delivered before the demurrage begins to accrue. So now jumping back into the dashboard view. So we went over what this first bucket does. This is, again, before the containers arrive. Once they do actually arrive at the final port or rail of destination, they shift over into this middle bucket, the at-destination. And in the circle chart here, this is where you're going to get that view on the detention and demurrage, demurrage in this case. We have it broken down into 4 different color codes. The green -- the blue green color shows all your containers that have more than 2 days remaining of free time. Yellow is 2 days or less. So these are the 2 sections where you're going to want to make sure these are scheduled. These are planned, that we have an appointment set for delivery to the warehouse, and this will prevent any demurrage from being accrued. We also have this red section. So there are times where it is unavoidable, the container goes into demurrage. This section here shows that we have 2 containers that have expired. So these are actively accruing demurrage as we speak. And then lastly, we have the dark blue. What this lets us to know is that there's one container that we don't know the free time. This could be a new lane, it could be a new steamship line, or one that we just do not have the contracted rate information. The good news is we're going to be able to have visibility to this. The second the container arrives, we're going to be able to see that. Then our team would go out and research, talk to the steamship line, talk to the forwarder, whoever it is, and find out how much free time that has so we can input it right here into this platform and get it to flow into one of the other 3 colors. We also, down below, have sort of the same information, meaning it's the containers that have arrived at port or rail and have not yet outgated. This just tells you how long they've actually been sitting at the port or rail, not how many free days remain, but how long. So we have 2 containers that have been at port or rail for one day. They've been assigned a trucker. They've also cleared customs. We are just waiting for them to be picked up. In the yellow color code, we have one container that's been at port or rail for 2 days but this has not cleared customs. That's what this is letting us know. So that falls into a part that the delivery management team at Expeditors is monitoring. We're monitoring for all the releases. We're monitoring for the availability because ultimately, we want to ensure that there's no dry runs also. We don't want to send truckers to pick up containers that are not ready, not available, are in a blocked area. That's one of the areas this platform definitely does help is ensuring that the containers are truly available and ready to go before sending a trucker out to get them. And then lastly, in the far right section here. Once the containers outgate and the demurrage stop -- the demurrage clock stops, they move over into this last section, and this is looking at the detention. So same info or same breakdown: green, more than 2 days; yellow, 2 days or less; red, expired; and the blue means we're missing the detention free time there. But having all of this high-level visibility is really great for this dashboard. It's a nice exception management. With a quick look, you can see, all right, I have 5 containers that are in storage. I spent just 2 seconds. We also have one container that's at port or rail for a couple of days and not cleared customs. You got that view in literally 2 seconds. So you just have it right on your screen, very much available to you. And again, you don't necessarily need to do anything with this because that's part of the managed service that the Expeditors team is offering. We will be managing to ensure that containers get picked up before they go into the red, before they start accruing. That we're also working with the different parties, the customs broker, if we are not them. We would be reaching out to see what the holdup is, make sure that they can let us know as soon as that has cleared, so we can get it on the schedule. Really, it is a pretty all-encompassing for the final mile. The team is there to do whatever is necessary. The nice thing is you can be involved in this process as well. If your warehouse wants to be involved in scheduling, great. We're happy to have the input. Same with the dray providers. Same with the operations teams. It really does provide that collaborative solution where everyone can provide their input. And then the last section here you see on the far right, the bottom right, is the planned upcoming deliveries. So these are the containers that have an appointment that's been confirmed for delivery to the warehouse. This is really helpful for the warehouses, dray providers, just to get a read on what is incoming to them. And then real quick, before we move on to our Q&A period. Within this dashboard view, you don't have to look at all your containers. If you have 5 warehouses and you're like, look, I only want to see one. All right. I'm going to go to the AB warehouse and apply that. And what it's doing is removing all those containers that are not assigned or going to that AB warehouse. You can see we've had a pretty big drop-off in the containers. There's 28 now from the 50, whatever it was, and 5 that have not been prioritized. So you're able to filter that down and view either based on warehouse, based on destination. So I'm in Seattle. So if you had 3 warehouses in the Seattle area, you could go into just SEA and see those containers going to all 3 of those warehouses. The other nice thing about -- generally on the platform. This was developed in-house by Expeditors, our development teams, our teams that continue to work on it. And this is an ongoing platform. We continue -- we plan on growing this. We have our team that is continuously addressing bugs, enhancements, adding new features. We very much welcome feedback from the customers and users. So it's a nice thing and allows us to really dictate what goes into the platform. We're not relying on some third party to get this built out. So that's the high level. That's the demo of it. I do encourage you if you're interested in seeing more and understanding how this all works, we'd love for you to reach out to Cherokee or Alec or your account rep or sales rep and get a real in-depth demo scheduled, and we can walk through in much more detail how this all works, how it would look for a program like yours. Yes. Thank you again. Okay. So before we do jump into the Q&A, referencing what I was just talking about, the internal building of this platform and the -- what that allows for, we have our road map set. We know what direction we are taking this platform in. A big piece of that is enhancing the user experience. A lot of that is done based on the feedback we've gotten from dray providers, customers, warehouses, our internal users. We take all that very, very seriously. We want to address any issues. We want to find any enhancements that are really going to be beneficial to the users and get those pushed out as quickly as possible. We're also in the process of building a detention and demurrage calculator. So if you think back to those circle charts that showed how many free days remain, once the calculator is built and incorporated to the platform, you are not only going to see how many days you have left or how many days in demurrage you are. You're also going to be able to see cost that goes with it. So if you have 4 containers that each have a couple of days of demurrage, you're going to be able to see that I owe $3,000 for those 4 containers. And as it builds up, you're also going to be able to get an audit history. It helps keep the steamship lines honest to make sure that they are charging the correct amount. And that's another piece that our team is going to be managing within the platform. That's coming soon. These items we're discussing here are on our road map that we are planning to have over the next year to 2 years instituted and incorporated within the platform. Key among those is the detention and demurrage calculator along with the export delivery management. So what we just went over today was focused all on import delivery management. While we can run export delivery management programs, and as a company, we do. Not yet though with the platform, with this collaborative tool, that we just went over. That is something we're in the process of developing, and we'll be releasing a tool very much like you saw today but meant for the export delivery management. That also is -- we're hoping to come out in the next year. But again, I do want to reiterate, if you do have an export program that you think a delivery management type of solution can help with, we can absolutely handle those now. It just would be more of a spreadsheet and e-mails, similar to what we did when we were starting off with the import delivery management. And then lastly, we've already incorporated the LCL. It works not only with full containers but also with the LCL containers. But we plan on introducing the Transcon containers, domestic and air as well. So those, we plan on having every mode of transport possible, us to handle delivery management programs within those fields. That is it. So thank you again. I do see that there is one question. But yes, if you do have any questions, please feel free now to unmute yourselves or drop them right there in the Q&A chat box.

Yes. For this one, if you just want to drop them on the Q&A chat box, so we have people ready to answer your questions.

While we are getting some of those loaded in, I will sort of wrap up some of the items that we had touched on. So first, a very big one is that this is a managed service. We know there are SaaS solutions that are out there that are really meant more for the -- your teams to be handling and providing all the data. This is not that. This is a true managed service where our team is going to be working with all the different parties, is going to be in close communication with your teams to ensure, A, that we have all the accurate data and that we're updating you timely but also working with the truckers and warehouses to get those milestones input to ensure that the appointments are set, and all of those sort of things there. All right. Looks like I got a question in here. Is there a minimum or maximum of containers to qualify for the program? No. Good question. But no, there's not. You can have as few as you'd like. We've also run programs upwards of 80,000 to 100,000 containers. So there is none. Wherever there's going to be value, our delivery management program would fit great. All right. Looks like we do have another one here. Can this be sold as just a SaaS offering? No. Again, this is just a -- this is truly a managed service. We know there are plenty of other SaaS options out there, these data aggregators, but that's not what this is. This is much more immersive than that. Looks like we have another one here. Does a customer need to be using Expeditors or -- for another service? No. As mentioned before, it does not. It does help because it lets us obtain that data much earlier in the information, the container information much earlier in the process. But as long as you all are providing that to us, we are good to go. Okay. There's like one more. Does this work with containers moving on rail or barge or is it only ocean containers? Yes. No, it works with all modes. If it's coming in rail, barge, over the ocean, we are able to handle them all just the same. Anything else? While anybody's loading, Alec, did you have anything you wanted to add to kind of wrap up what we just went over?

No. I think you did a good job summarizing it. I think, obviously, going forward, as you mentioned, like if you have any questions at all, you can reach out to Jacob or myself or Cherokee or Haley, and they all kind of get funneled back to us. Sometimes, it could be hard to kind of ask questions in this environment. But if there's anything you want to know outside of this, please feel free to reach out to us and we'll be happy to address or have further conversation with you or your team.

Yes. Thanks for pointing that out, Alec. Since you have attended, you will be receiving an e-mail again with this reference material and things with contact information as well. So if you think of any questions, if you want to see more, that is how you can get into contact with myself, with Alec, with Haley, all of the above.

Great. All right. Well, I wanted to thank everyone again for attending our webinar today. As Alec mentioned, if you do think of any questions later on, please feel free to reach out to any of us here. We're happy to provide information. And again, if you want a full demo and to see a more tailored display of what the system does, please reach out, we're happy to get one on the schedule and go over this with you again.

Great. All right. Everyone, have a great day.

Thanks, everyone.

Thank you.

Thanks.