Our client is a leading 3PL trucking and logistics company. The client had a rule-based carrier selection and matching system which was complex, manual, and lacked a seamless carrier search experience. It was not a “One-Stop Platform” for carrier selection.
Hence the client wanted to build a Digital Freight Matching Platform that would:
• Craft a “One-Stop-Shop” profile for all carriers
• Provide an efficient carrier scoring and matching solution
• Identify an improved pool of carriers to choose from
The matched carrier should have the best balance between cost, service levels, and the likelihood of acceptance.
Increased profit margin by 1.5% by bringing in high propensity carriers who can carry the load at a competitive price
Crafted a near-perfect carrier profile from the learnings leveraged from past carrier behavior, lane history, postings, searches, and market situation
Added 60K qualified new carriers to the network in the first year
Observed relevance/lift in rankings of the carriers which accepted the load based on new solution vs old rule-based methods
Load booking conversion increased by ~10%
15% load booked for carriers are identified as round trips (within or outside of client network) resulting in empty miles reduction