To help organizations optimize their freight booking processes, we entered into a strategic partnership with One Network Enterprises, a leader in supply chain network technology. Our joint solution connects Loadsmart’s instant pricing and transportation capacity from the Loadsmart carrier network with One Network’s market-leading SaaS platform, a disruptive artificial intelligence-based technology which enables autonomous supply chain management solutions. As a result of our partnership, shippers can leverage technology in order to reduce friction and create value in the freight market.
According to Silpa Paul, team lead of Commercial Vehicle Research and Consulting at Frost & Sullivan, “While the trucking industry is in a phase of digital transformation with connected devices bringing greater visibility and transparency across the supply chain the brokerage process, until recently, has struggled to digitalize.”
Recognizing this challenge, and the potential of leveraging artificial intelligence, we forged this collaboration in order to automate the pricing and booking of freight for more than 75,000 participating organizations who rely on One Network to optimize and operate their supply chain.
Navigating challenges between shippers and carriers is (finally) becoming less arduous
The Trans-Pacific Maritime Conference in Long Beach, CA, hosted by JOC, is a must-attend event for supply chain leaders from every corner of the market.
This conference, more than any other, is the time of year where shippers and carriers take a hard look at the most important short-term challenges and discuss longer-term macro trends. Hot topics of 2019 included the IMO 2020 Sulfur Cap, the North American capacity crunch, the US-China trade war, technology innovation, and how market conditions are impacting rates. Here, we’ll discuss the last two – and the promising outlook on integrating both technologies and stakeholders.
Historically, there’s always been tension between shippers and carriers, as they naturally view the same macro challenges through different lenses. And while market conditions will only continue to add pressure, the reality is that shippers and carriers share the same unique set of problems. And that, according to Port of Long Beach Executive Director Mario Cordero, means both sides of the supply chain need to collaborate better. SupplyChainDive quoted;
“It’s a historic issue, the shipper and carrier dynamics.” – Port of Long Beach Executive Director, Mario Cordero
At TPM, we found that shippers and carriers alike are increasingly willing to embrace technology in order to better collaborate and improve service – a marked change from even five years ago.
For shippers, Ai powered pricing algorithms and TMS integrations now enable them to quote and book truckload shipments in seconds without ever having to leave their native system, eliminating the time consuming back and forth over phone and email. For carriers, these same technologies have made it dramatically easier to find relevant loads and minimize empty miles, all while reducing paperwork.
These technologies are quickly headed in the direction of intermodal automation, as companies like Maersk look to offer their customers end-to-end solutions across modes. And according to Maersk CEO Søren Skou, the timing could not be better.
JOC reported notable comments from Skou’s talk and pointed out that while 40-45% of Maersk’s business is coming from freight forwarders, Skou warned forwarders ignoring the wave of automation;
“If the only thing they provide is a booking service with a carrier, then it is going to be a hard place to be.” – Maersk CEO, Søren Skou
Did you attend TPM 2019? If so, what stood out to you?
The third party logistics company C.H Robinson has reached an agreement to buy Freightquote.com for $365 million in cash. Lets see what concept gets you $365 million.
Freightquote.com Facts
-It took 15 years to get to where they are
-“Quotes from the best carriers with the lowest rates, instantly.”
-Privately held, Freightquote.com is one of the largest internet- based freight brokers in the U.S.
-They have about 1,000 employees
-Freightquote.com provides truckload, less-than-truckload and intermodal services to about 80,000 customers
-It’s net revenue this year is estimated at $124 million
-Freightquote.com allows smaller businesses the technology to find good rates and has easy load acceptance and payment processing.
