Loadsmart, a next-gen logistics solutions provider, has officially announced the launch of FreightIntel AI, which happens to be an advanced freight analytics and intelligence solution capable of revealing easy-to-understand cost savings and optimization opportunities from your raw transportation data. According to certain reports, FreightIntel AI comes bearing the an ability to act like a human analyst who has been trained to understand transportation nuances, as well as craft insights without direction and without delay. This means all a shipper has to do is plug in their data and they’ll be ready to start receiving valuable insights immediately. More on the same would reveal how the whole thing is actually supported by shippers’ own logistics data, Loadsmart’s extensive dataset of trusted benchmarking data, and an underlying artificial intelligence technology. You see, when used together, these components are able to generate observations and insights tailored to individual company needs. Talk about the given proposition on a deeper level, though, FreightIntel AI is basically a standalone technology which allows you to either upload your data manually or integrate it directly with your data source for seamless insight creation. Furthermore, it filters through the noise of large datasets and focuses on actionable optimization opportunities. These optimization opportunities may include clusters of shipments (by carrier, lane, or region) with above market rates, high accessorial costs linked to certain carriers/lanes/origins/destinations, backhaul opportunities, and unusual distribution of loads across carriers.
The solution in question is also well-equipped to detect instances covering lanes, regions, or carriers with poor OTD or poor OTP, opportunities to move from spot to contract or the opposite – based on volume, consistency, and market forecasts. Among other opportunities in its bandwidth, we have FTL consolidation opportunities, long hauls and possible facility relocation options, mode optimization – FTL to IMDL or LTL, route guide optimization, and transit time and lead time offenders. Making it all the more impressive is how each insight here can be drilled into for more information and recommendations with an easy conversational framework.
Another detail worth a mention would be FreightIntel AI’s tendency to be natively embedded into ShipperGuide TMS for seamless freight planning, procurement, execution, settlement, reporting, analysis, as well as for recommending next steps.
Having referred to the solution’s capabilities, we now must turn our attention some of its possible use cases. For instance, FreightIntel AI might come in handy for a large shipper who does have extensive logistics data, but given the size of their operations, finds it difficult to find opportunities for optimization without months-long projects or comprehensive analyst resources. The next possible use will include someone who uses a legacy TMS system with data reporting that contains too much noise and has an unfriendly UI, factors which essentially make it difficult to derive intelligence from raw data. Moving on, the solution can also possibly empower an organization looking to run optimization or cost-saving projects only once a year but in a more nimble manner, and at the same time, find savings on an ongoing basis during the calendar year. Then, there is a potential application in play for someone who relies on a managed transportation or 3PL/4PL provider to handle their logistics and want to hold them accountable to ensure that they are exploring all optimization opportunities.
Hold on, we are not done yet, considering we haven’t touched on a possible use case, where the technology can aid the case of a company that relies on identifying cost-savings opportunities and would like an easy and fast tool to execute the stated analysis. Rounding up the mix would the FreightIntel AI’s potential when it comes to helping a mid-size shipper, with limited access to analysts and BI resources, find opportunities for cost reduction and service improvements.
Founded in 2014, Loadsmart’s rise up the ranks stems from providing logistics solutions, powered by industry experts and next-gen technology, that lower costs, increase efficiency, and digitize transportation. The company’s excellence in providing these solutions can also be understood once you consider it has, thus far, partnered with the likes of Amazon Freight, Athletic Brewing Co., and Halliburton etc.
