Chicago, IL, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Loadsmart, a next-gen logistics solutions provider, is excited to introduce FreightIntel AI (FI.AI) — an advanced freight analytics and intelligence solution that reveals transportation insights: easy-to-understand cost savings and optimization opportunities from your raw transportation data.
FreightIntel AI behaves like a senior analyst who has already been trained to understand transportation nuances and can craft insights without direction and without delay. Shippers can simply plug in their data and get valuable insights immediately. It works by leveraging shippers’ own logistics data, and Loadsmart’s extensive dataset of trusted benchmarking data, together with the latest artificial intelligence technology to generate observations and insights tailored to individual company needs.
This advanced tool leverages true machine learning capabilities to comb through complex datasets, learn from patterns, and tailor recommendations. All this before letting the user interact to discuss and refine insights in plain English using the latest large language model (LLM) technology.
Shippers who currently scroll through endless dashboards to try to spot saving opportunities or service-related concerns can benefit from faster and more frequent analysis with FreightIntel AI.
How it Works
FreightIntel AI is a standalone technology that allows you to either upload your data manually or integrate it directly with your data source for seamless insight creation. It filters through the noise of large datasets and focuses on actionable optimization opportunities, like:
- Clusters of shipments (by carrier, lane, or region) with above market rates
- High accessorial costs linked to certain carriers/lanes/origins/destinations
- Backhaul opportunities
- Unusual distribution of loads across carriers
- 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
- FTL consolidation opportunities
- Long hauls and possible facility relocation options
- Mode optimization - FTL to IMDL or LTL
- Routing guide optimization
- Transit time and lead time offenders
- Among many others
Each insight can be drilled into for more information and recommendations with an easy conversational framework.
It is also natively embedded into ShipperGuide TMS for seamless freight planning, procurement, execution, settlement, reporting, and now analysis and recommended next steps. It is ready to be integrated with other platforms and TMSs.
Benefits of FreightIntel AI
With FreightIntel AI you get a non-biased, immediate evaluation of your freight spend. Depending on the company, it can decrease transportation costs by 3-15% by generating cost-reduction opportunities and can optimize internal labor by up to 10-20%.
Is FreightIntel AI Right for You?
These are some use cases in which FI.AI would be the right tool for your organization:
- You are a large shipper with extensive logistics data that finds it difficult to find opportunities for optimization without months-long projects or extensive analyst resources
- You run optimization or cost-saving projects only once a year and would like to be more nimble and find savings on an ongoing basis during the calendar year
- You use a legacy TMS system with data reporting that contains too much noise and has an unfriendly UI, making it difficult to derive intelligence from raw data
- You rely on a managed transportation or 3PL/4PL provider to handle your logistics and want to hold them accountable and ensure they are exploring all optimization opportunities
- You have an M&A strategy that relies on identifying cost-savings opportunities and would like an easy and fast tool to execute this analysis
- You are a mid-size shipper with limited access to analysts and BI resources to find opportunities for cost reduction and service improvements
Join Our Webinar to Learn More
Join us for a live webinar to see FreightIntel AI in action and learn how it can revolutionize your logistics strategy. Our experts will demonstrate the platform and answer your questions about this cutting-edge solution.
Thursday, October 17, 2024
2:00 - 2:45 PM CST (3:00 - 3:45 PM EST)
Can't wait? Watch a short demo of the solution here!
About Loadsmart
Loadsmart offers logistics solutions powered by industry experts and next-gen technology that lower costs, increase efficiency, and digitize transportation. From Planning, Optimization, and Execution to Gate, Yard, and Dock solutions, ending with Audit & Pay capabilities, we deploy the best mix of services and technology to empower your business to move more with less. For more information, please visit https://loadsmart.com.
