WOF Summit Vienna 2024: Insights from the Risk Mitigation and Multimodal Strategies Panel

At the WOF Summit Vienna 2024, industry experts gathered to discuss “Risk Mitigation in Freight Forwarding through Multimodal Strategies,” a panel that opened the summit with forward-looking discussions on globalization, infrastructure, digitalization, and sustainability in logistics. Moderated by Viktor Lippai from Maersk, the panel featured insights from Daniel Prutti from RHI Magnesita, Walter Holzhammer from the Port of Antwerp-Bruges, Dalibor Michalek from Railvis, and Igor Sekardi from the Federation of Austrian Industries.

The panel agreed that, although Europe’s role in global trade has slightly declined, the logistics sector continues to adjust to changing demands. Igor noted,

“From a logistics perspective, globalization is not only surviving but thriving. Trade has reached record highs, and that momentum is not slowing down.”

Despite ongoing discussions around nearshoring, globalization remains a dominant force. Walter remarked,

“Logistics and global trade have shown incredible resilience. Even after black swan events, we find ourselves in a ‘new normal’ and keep moving forward.”

Daniel Pruti added,

“While nearshoring is gaining traction in some sectors, price and efficiency often keep us globally oriented. For many industries, globalization is here to stay."

The discussion delved into the significant concept of modal shift, particularly the move from road to rail transport. Despite strong political support, practical implementation faces numerous obstacles. Daniel emphasized the need for better infrastructure planning, highlighting the competition between cargo and passenger rail services.

"We need a comprehensive plan by member states to build future capacity and plenty of political action to improve infrastructure and availability of time slots,"

he noted. The panelists agreed thatr shifting freight from road to rail to reduce environmental impacts is noting that infrastructure challenges make this a complex goal. Walter echoed similar sentiments, mentioning that 56% of cargo movements from ports are still done by truck. He explained,

"Shifting this to rail would require 258 additional daily trains, necessitating substantial infrastructure improvements and the availability of more time slots." He emphasized that ports like Antwerp are already at capacity and need structural support to shift large volumes to rail efficiently.

Digitalization emerged as a crucial topic, with speakers addressing how integrated digital solutions could enhance transparency and efficiency across the multimodal transport network. Dalibor explained,

“Digital platformssuch as Railvis that provide real-time capacity data can solve many operational issues, but there’s a fear that data sharing reduces competitive advantage. Collaboration here is key.”

The panelists agreed that embracing digital tools would allow for faster, more reliable logistics, particularly when transferring data across a complex supply chain with multiple stakeholders. Igor enriched the discussion with an emphasis on the critical need for diversification in energy sources, trade partners, and infrastructure to avoid over-reliance on any single aspect. He cited Austria's recent experiences to underline his point: "

Diversification ensures resilience; it's essential for us to engage in more trade and investment agreements outside of Europe and invest in inter-regional infrastructure projects."

Sekardi also highlighted the EU's Global Gateway Initiative as a strategic counter to China's Belt and Road. The panel stressed that sustainability is an opportunity for logistics companies rather than a burden.

Conclusion

The Risk Mitigation and Multimodal Strategies panel at WOF Summit Vienna 2024 underscored the adaptability and forward-thinking mindset of the logistics industry. With ongoing investments in infrastructure, digitalization, AI, and sustainability, logistics leaders are positioned to shape resilient and innovative supply chains. As the panel demonstrated, challenges like infrastructure gaps, workforce adjustments, and data transparency are just stepping stones toward a stronger, more integrated future for global logistics. Viktor summarized the discussion succinctly:

"Our focus should be on fostering resilience and adaptability through strategic diversification, digital standardization, and robust investments in infrastructure."