Freight logistics knew one truth for decades: money was a game, and someone won while someone else lost. For years, freight brokers have strategized to make the biggest amount of money they could, generally at the expense of one of the other players. The market would decide who had an advantage in each round, and that advantage was subject to change at the drop of a hat or, more accurately, at the occurrence of any disaster, legislation, or shift in the economic balance, big or small.
But what if smart technology came along and advanced traditional freight procurement thinking, helping both the shipper and carrier win? Guess what…. smart technology has finally arrived!
AI-Powered Freight Procurement Technology
We know that technology benefits humanity by putting the world in the palms of our hands. We have the benefit of being connected, globally, to anything we want to purchase, anywhere we want to go, friends and family we want to talk to or discover, and anything we want to learn. When it comes to logistics, there is no difference. Technology instantly connects freight to compliant carriers whenever and wherever needed, so both the shipper and carrier come out on top.
Technology does us the favor of removing waste. When freight brokers serve as the moderator of the game, it takes shippers hours to find, vet, and transact with new carriers. AI-powered technology dynamically matches shippers’ loads to compliant carriers in seconds using configured attributes. Only carriers who pass the pre-qualification algorithms are given a chance to bid directly on a load. With the middleman eliminated, the carrier makes more money in their pocket (they take 100% of their asking price). And with the right carrier matched at the perfect time and place, the shipper strengthens on-time delivery– not to mention powers sustainability by reducing carbon emissions.
Plus, technology empowers data visibility. No more hidden data, which results in stronger, data-driven decision-making. And with data transparency comes trust. Suddenly, all players are on the same side of the game board and winning.
We’re constantly working on redefining the way our world works, and we’re utilizing the newest technologies to do this. Companies that choose not to embrace technological advancements that help eliminate waste, and streamline processes will lose.
This blog is written by Caitlin Radick. Caitlin is a Carrier Success Leader & Product Expert with Sleek Technologies. She graduated from the University of Illinois in Urbana-Champaign. Caitlin has over 15 years in customer service, and 5 years of experience in logistics and technology.