The strategic partnership will allow the shippers to leverage technology for creating value and reducing friction in the freight market.
FREMONT, CA: As per Frost & Sullivan, the trucking industry is in a phase of digital transformation with better visibility as a result of connected devices across the supply chain, but the brokerage process has struggled to digitalize. Realizing this roadblock, Loadsmart, a digital freight broker, entered into a strategic partnership with One Network Enterprises to automate the booking and pricing of freight for over 75,000 participating organizations that depend on One Network to operate and optimize their supply chain. One Network has expertise in supply chain network technology that helps organizations optimize their fright booking processes.
Loadsmart specializes in full truckload shipping, leveraging data and machine learning (ML) to build artificial intelligence (AI) processes into the intricate freight brokerage cycle. The company allows shippers to book a truckload quickly and provide targeted loads to carriers instantly.
The joint solution connects Loadsmart’s transportation capacity and instant pricing from the Loadsmart carrier network with One Network’s SaaS platform, which is a disruptive AI-based technology enabling autonomous supply chain management solutions. Shippers can leverage this technology to create value and reduce friction in the freight market.
As a result of freight market volatility, shippers are still struggling to secure transportation in a reliable and fast manner. The partnership would foster value to the companies transacting on the Network as it enables a secure freight booking capability which allows customers to seamlessly maintain reliable spot transportation at instant rates, 100 percent tender acceptance, and one-click booking within One Network platform. Also, the spot prices which are currently at 20 percent below contracted rates would be a considerable advantage.
The integration will power One Network’s mission of helping organizations reach beyond decision-support to decision-making and autonomous control, which will be crucial to optimizing their entire supply chain. The collaboration will allow shippers to reduce transportation costs, securing reliable transportation and spot coverage quickly within a familiar setup.