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.
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.
According to the study, 79 percent of companies with high-performing supply chainsachieve above average revenue growth. Yet, very few companies include supply chain managers in their boardrooms. Businesses that have applied big data analytics to their supply chain functions have seen a reduction in costs, improved risk management, shorter cycle times, more accurate forecasting, and an overall improvement when it comes to making informed decisions.