Tech helps freight brokers find hidden capacity
Summary
LSPs are paying higher freight rates but are being inundated with business from shippers who are getting a high percentage of their load tenders rejected by contract carriers and dealing with other supply chain disruptions. BlueGrace Logistics has its own transportation management software (TMS) system and carrier sourcing team to match loads with trucks, but “it’s also good to have a combination of other platforms,” Ford said. Some technology providers are looking beyond spot transactions to save shippers money and improve asset utilization for carriers by identifying patterns in freight flows to execute short-term “flex” contracts. Leaf Adapt is a forward-looking recommendation engine that uses machine learning to continuously search freight networks and find short-term “flex” contract opportunities based on the business needs of its customers and market dynamics. The latest digital freight matching tools are helping logistics companies more quickly secure capacity, at the right price, and identify opportunities to improve network efficiency with carriers.