C.H. Robinson CEO Bob Biesterfeld said the company will make $1 billion in technology investments over the next five years as it builds on its leadership advantage in the third-party logistics industry.
The Eden Prairie-based company invested $1 billion in technology over the previous 10 years, so the new commitment doubles the company's investment pace.
C.H. Robinson employees use technology to help customers, including Fortune 500 corporations, figure out how to get products from point A to point B. That could mean changing course because of storms or finding new partners because of trade tariffs.
So state-of-the-art technology is a key to success.
"We are a platform-driven solutions company with technology built by and for supply chain experts, powered by our information advantage," Biesterfeld said in a statement. "It's when these tools are leveraged by the smartest and most relentless experts — who really understand and are committed to our customers' business — that we create extreme value in the supply chain for our clients' benefit."
Biesterfeld made the announcement Wednesday. He said the company will not only spend money on the technology itself but on employees who can best leverage it.
"It's technology plus," said Biesterfeld in an interview. "Technology, plus the expertise of our people in the field."
The technology investments will be in areas such as artificial intelligence, machine learning and predictive analytics.
