How We Help Our Clients Reduce Spot Market Exposure by 50%

On May 15, 2018, we wrote about the first fully automated intelligent routing guide with dynamic rates in the US. That powerful tool enables shippers to automatically book a truck before the shipment turns into a spot load and has reduced spot volume for Fortune500 Shippers by as much as 50 percent. Loadsmart accepts 100 percent of tenders received from the dynamic routing guide, guaranteeing capacity. This feature helps shippers avoid the same-day/next-day markets, which are known for steep prices and service failures. Given the huge interest and questions we got from the logistics community, we decided to expand and explain the reasoning behind it and how it actually works in a granular way.

At Loadsmart, our mission is to do more with less. That’s why we innovated with a major customer to help them drive down their spot market exposure by 50 percent. We worked with our customer to help them do more with less by pushing market-based truckload rates into their TMS for every load that goes through their routing guide. Simply put, we do three things:

  • Provide real-time pricing on every load in the routing guide via API;
  • Auto-accept every tender we receive;
  • Guarantee capacity for all of those auto-accepted tenders.

This explains how we went from participating in a daily spot auction via email to a full-fledged integration with our customer to reduce spot volume.

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Loadsmart to talk supply chain tech and ROI at 3PL & Supply Chain Summit: Atlanta

Erica E. Phillips, supply chain reporter for WSJ Logistics Report, writes that the hiring binge for logistics and freight companies may only be just beginning. The sector added 18,700 jobs last month, giving transport and logistics operations 73,000 new jobs since the start of the year. Companies are scrambling to keep up with surging shipping demand in what they say is the hottest transportation jobs market in several years.

While positive news, the peak shipping season is not here yet. How can we support manufacturers and retailers, and ensure they can fulfil their supply chain?

The digital supply chain is being hailed as the way forward, yet this comes with its own set of challenges. Virginia Howard, research director, Supply Chain Research Group, Gartner, correctly notes that digital technologies are enabling and promoting changes that have a larger impact, greater unpredictability and increased frequency. And that now, more than ever, high-tech supply chains require digital skills and methods to deliver customer-driven solutions in an on-demand fashion.

The digital supply chain vs. ROI

Erik Malin, head of operations, Loadsmart
Erik Malin, head of operations, Loadsmart

If everyone is going to be confronted by disruption in the marketplace, how can manufacturers and retailers choose technologies that will bring real ROI?

On Thursday, June 7 at 11:45 am, Erik Malin, Loadsmart head of operations, will join fellow panel members from BCG Logistics Group, DHL Supply Chain, Kenco Innovation Labs at the 3PL & Supply Chain Summit: Atlanta.

During the logistics technology stream, Erik will discuss how data and technology has empowered manufacturers and retailers alike – and how it is very different from mere automation.

 

In summary:

  • Learn from the early adopters: Gauge which technologies offer the best ROI opportunities, efficiencies, pilot results and customer responses, from people who’ve put them to the test
  • Rethink ROI in the digital supply chain: Discuss how far you need to spend money to make money to see the biggest returns from the new wave of technological transformation
  • Hear from the technology makers: Find out directly from the tech creators how they are enabling the transformation from linear to dynamic digital supply networks

Email us if you want to meet the Loadsmart team at the summit or if you want to learn more.

LOADSMART APPOINTS NEW HEAD OF OPERATIONS

Today, Erik Malin was appointed as our new head of operations. The appointment follows a year of sustained, rapid growth during which thousands of loads for companies like Anheuser-Busch, Safeway and Albertsons were moved over our platform and shippers such as Daimler Trucks North America connected to our API to digitize their spot freight execution.

In his role, Erik will be responsible for running, growing and scaling our operations. He will report into Ricardo Salgado, CEO, who will now mainly focus on company strategy and leadership as the companies continues to experience hyper growth.

“Erik’s industry and technology knowledge combined with his experience in managing and scaling high-growth teams, make him a real asset to team,” said Ricardo Salgado, CEO, Loadsmart. “Empowering people with data and technology is very different from mere automation. Erik recognizes how the use of both can streamline and expedite the traditional brokerage model and have a positive impact on the logistics industry.”

Erik_Malin
Erik Malin, head of operations, Loadsmart

Erik hails from truckload broker AFN where he was responsible for strategy. Prior to that, he ran a boutique strategy consultancy where he advised publicly-traded and hyper-growth private logistics companies on growth opportunities and related change management initiatives.

“Loadsmart has done an excellent job of assembling a team of highly-talented, curious and driven individuals,” said Erik Malin, head of operations, Loadsmart. “New entrants often turn to technology only and disregard important industry intricacies. It’s rare to find a logistics technology company that encapsulates both aspects with the aim to build a better platform for shippers and carriers.”

Loadsmart was the first to introduce a truckload instant pricing/booking algorithm in the US in 2015, followed by the launch of our One-Click load-acceptance app for carriers later that same year. In 2016, we were the first to introduce an instant pricing API for TMS integrations.

Interested in a career at Loadsmart? We’re hiring.

Loadsmart CEO addresses transport capacity shortages at Automotive Logistics Supply Chain Conference

Technology is transforming the automotive and logistics industries. But for many supply chain managers the biggest headaches are still the most familiar ones, such as driver and transport capacity shortages, lost containers, poor forecasting and incomplete visibility. Just this morning, The Wall Street Journal featured how Deere & Co. is raising equipment prices to make up for rising freight transport costs. The equipment maker is a host of U.S. manufacturers reporting rising expenses as a growing U.S. economy drives up prices for materials and shipping.

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Loadsmart Talks API at Python South

Loadsmart was the gold sponsor of Python South conference in Florianopolis, Brazil. Promoting Python as a programming language, the conference brings together the various communities in South Brazil.

As the region rapidly expands its reputation as a technology hub with a strong local Python community, our team joined in and shared its knowledge.

Klaus Laube, Loadsmart software engineer, presented Loadsmart’s case in the lecture API First Design, explaining how Loadsmart leverages APIs to distribute its pricing for truckload shipping in the US. His take-away: while an API First Design is a popular approach that provides best practices across industries and companies that prioritize a better developer experience, it’s also of strategic importance to the business.

Loadsmart_PythonSul
The Loadsmart team at Python South.

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