The Logistics of Logistics
The Supply Chain Road Map with Mike Droesch
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Investing in early-stage supply chain startups bringing technology is crucial for competitiveness.
- BVP focuses on backing founders with industry expertise over financial acumen.
- Workflow optimization and digital connectivity streamline supply chain operations efficiently.
- Fostering diverse founding teams enhances success potential in scaling businesses.
- Accessing BVP's resources and guidance drives innovation and growth in supply chain technology.
Deep dives
Importance of Supply Chain Technology in Investments
Investing in early-stage companies that bring technology to the supply chain sector is crucial for staying competitive. These investments focus on enhancing connectivity between systems, automating manual workflows, optimizing networks, and leveraging AI tools for improved efficiency and decision-making.
Thesis-Driven Approach and Industry Expertise
Bessemer Venture Partners (BVP) adopts a thesis-driven approach, allowing them to understand supply chain nuances deeply. Their interest lies in backing founders with industry expertise over financial acumen, especially at early stages of development. BVP offers a valuable network, mentorship, and resources for portfolio companies' growth and success.
Demand for Workflow Optimization and Digital Connectivity
Workflow optimization and digital connectivity play vital roles in streamlining operations and enhancing efficiency in supply chain management. Solutions like automated financial workflows and real-time payment protocols address the pressing challenges of financial transparency, seamless transactions, and invoice reconciliation.
Team Dynamics and Roadmap for Success
Fostering founding teams with diverse skills like technical expertise, go-to-market strategy, and operational acumen reduces risks and enhances success potential in scaling businesses. BVP's roadmap for success encompasses benchmarks for growth stages, enabling entrepreneurs to navigate the journey from idea conception to substantial revenue milestones.
Empowering Entrepreneurs for Transformational Impact
Empowering entrepreneurs with industry-relevant expertise, financial support, and strategic guidance fuels transformational impact in the supply chain technology space. Engaging with BVP offers access to a rich ecosystem of resources, mentorship, and industry insights to drive innovative solutions and market growth.
End-to-End Visibility and Operational Efficiency
The drive towards end-to-end visibility in supply chain operations requires advanced technologies, efficient data normalization processes, and real-time insights for informed decision-making. Solutions like AI-enabled financial data cleansing and automated workflow management empower companies to unlock operational efficiency and revenue optimization across the supply chain.
Storage and Accessibility Support for Industry Innovation
Investments in technology solutions for seamless data management, invoice processing, and financial automation support industry innovation and operational excellence. Collaborating with BVP offers access to scalable technologies, expert guidance, and market insights for driving transformative change in supply chain management.
Strategic Partnerships for Business Growth
Strategic partnerships and industry collaborations facilitate operational growth, financial stability, and market expansion in the supply chain technology sector. Leveraging BVP's expertise and resources enables companies to navigate complex industry challenges, innovate new solutions, and drive impactful business outcomes.
Continuous Learning and Innovation in the Supply Chain Sector
Continuous learning, innovation, and market exploration are essential elements for success in the dynamic supply chain industry. Embracing technological advancements, industry best practices, and strategic planning frameworks empower companies to adapt, evolve, and thrive amidst industry disruptions and competitive landscapes.
Mike Droesch and Joe Lynch discuss the supply chain road map. Mike is a Partner at Bessemer Venture Partners, a venture capital firm that backs promising startups in technology, supply chain, healthcare, and consumer markets. Mike's focus is on logistics and supply chain. Click the link to see Mike review BVP's Supply Chain Roadmap.
Summary: The Supply Chain Road MapIn this podcast, Mike Droesch from Bessemer Venture Partners shares insights on the importance of a supply chain roadmap and how technology is transforming the logistics industry. He discusses their firm's focus on investing in early-stage companies that bring innovation to the sector, and highlights key areas such as workflow optimization, digital connectivity, and automated financial workflows. Mike also emphasizes the significance of having a founding team with industry expertise and a deep understanding of pain points, and how venture capital funding enables the development of cutting-edge solutions in a competitive market.
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About Mike DroeschMike Droesch is a Partner in the Cambridge office primarily focusing on AI applications, cybersecurity, supply chain software, and B2B marketplaces. He currently serves on the board of directors for Tackle, Curri, Raft, Cypress, Netography, Optimal Dynamics, and VendorPM. Previously, Mike worked with a few venture-backed startups in Boston, including two Bessemer portfolio companies, Fuze and InsightSquared, where he supported sales operations and analytics efforts. He started his career as a systems engineer and then spent nearly three years in management consulting at Navigant, where he helped companies build new businesses around emerging energy and infrastructure technologies in the U.S. and Middle East. He holds an MBA from the MIT Sloan School of Management, a Master’s Degree in naval architecture and engineering from the University of Michigan, and a degree in mechanical engineering from Tufts University.
About Bessemer Venture PartnersBessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).
Key Takeaways: The Supply Chain Road Map- The importance of having a supply chain roadmap aligned with company goals and objectives.
- Bessemer Venture Partners' focus on investing in early-stage technology companies.
- The impact of COVID on the supply chain logistics technology industry and market volatility.
- Venture capital's preference for software businesses over hardware due to scalability and capital requirements.
- Mike Droesch's journey from mechanical engineering to venture capital at Bessemer Venture Partners.
- The supply chain roadmap: identifying opportunities for technology to impact the supply chain and logistics industry.
- Workflow optimization software helping trucking companies improve efficiency and profitability through data-driven decisions.
(00:00:00) The Supply Chain Roadmap
(00:00:19) The History of Bessemer Venture Partners
(00:02:00) Venture Capital in Supply Chain Logistics
(00:06:31) Venture Capital's Focus on Software Startups
(00:08:57) Discovering Venture Capital and BVP
(00:12:13) Exploring the Supply Chain Technology Landscape
(00:18:21) Optimizing Trucking with Workflow Optimization Software
(00:24:35) Unlocking Supply Chain Efficiency with Digital Connectivity
(00:29:02) Logistics Visibility: Bridging Silos and Automation
(00:35:16) AI Readiness: Cleaning Data for Future Decisions
(00:36:44) Automating Financial Workflows with AI
(00:38:08) Improving Invoicing and Payment with AI
(00:42:11) VC Funding Drives Logistics Industry Innovation
(00:42:48) Streamlining Supply Chains for Competitive Advantage
(00:44:14) Investing in Early-Stage Supply Chain Tech
(00:46:56) Industry Expertise Trumps Finance in Supply Chain Startups
(00:48:49) Investing in Supply Chain Startups
Learn More About The Supply Chain Road MapBessemer Venture Partners | Linkedin
Roadmap: Supply Chain Software - Bessemer Venture Partners
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