The requirement of an efficient supply chain has never been more vital. With the coronavirus pandemic forcing all organizations to cut costs, enhance capabilities, and improve efficiency, shippers are focusing on utilizing technology to build a robust supply chain.
Shippers are increasingly investing in digital freight networks, which are open, fully connected freight marketplaces that use machine learning, automation, and other software services to connect shippers and carriers. It involves real-time tracking of loads and identifying areas to work on to become more efficient and further smoothen operations. As supply chains become more visible, shippers have found that transportation costs are lower and hidden inefficiencies are removed, helping them remain competitive and viable. As more shippers join the network, drivers have better options, fewer empty miles, and less wasted hours, allowing them to earn more per day. The capacity also increases, and shippers can enjoy lower costs and higher service quality.
When integrated with transportation management systems, a digital freight network provides real-time visibility, updates, and tracking of all shipments. As a digital freight network service provider automates the processes and tracks shipments from start to finish, operational data becomes available. Shippers get monthly reports, an online reporting dashboard, and unique insights analytics. Data analytics help shippers understand potential inefficiencies in supply chains and the latest trends, allowing them to get ahead of their competitors.
This network can also benefit truck drivers in various ways. The machine-driven matching of trucks helps provide the most efficient vehicle for every shipment, bringing down the selection time and costs. Automation has drastically lowered waste drive costs by sifting through billions of load combinations to determine the ideal way to combine shipments, resulting in more efficient routes and an increase in carrier earnings. Moreover, machine learning has rationalized access to freight as well, by ensuring loads are available to carriers at all times.
It is not surprising that more and more shippers have recently been making use of digital freight networks due to the endless amount of benefits they offer. Shippers are finally able to improve their visibility by bettering downstream supply chain operations while increasing service satisfaction. Customers are updated with a real-time update on shipments, and shippers can cut down on carbon emissions and waste, all while diving deep into data analytics to optimize services and stay competitive.
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