New benchmarking tool helps carriers identify growth opportunities

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Technology Shorts

Technology news and briefs for the week of Feb. 12, 2023: 

Locus launches benchmarking tool

Last-mile logistics technology company Locus has launched a benchmarking tool designed to help carriers, ecommerce/retail brands and manufacturers evaluate strengths, uncover hidden inefficiencies and identify new growth opportunities in their last mile.

Last-Mile Maturity Assessment is a free, interactive online assessment that conducts an in-depth analysis through well-researched questions spanning five fundamental performance indicators:

• Last-Mile Excellence: How robust last-mile capabilities are in the face of exceptions, unpredictable volumes and profitability

• Customer Experience: The quality and consistency of the customer experience an organization’s last-mile offers

• Workforce Empowerment: Employees’ abilities to handle last-mile challenges

• Advanced Analytics: The opportunity to leverage last-mile data and make more informed decisions on the supply chain

• Sustainability: How environmentally sustainable a company’s last-mile function is today

The assessment then scales enterprises on a five-point rating system and categorizes them as businesses in the emerging, growth or optimized stages. Assessment takers receive a 360-degree comprehensive report that delivers personalized recommendations and actionable insights on how to unlock new revenue and make delivery experiences a differentiator for enterprises.

FreightPOP adds new features

Logistics and transportation management software provider FreightPOP has unveiled several new features following a year of significant growth. The company aims to help its customers “significantly reduce processing time and shipping costs” with these new features: Auto Dispatch, Truckers Against Trafficking, FreightPOP Marketplace, and Acumatica.

FreightPOP users can now utilize Auto Dispatching, a new automation tool that allows shippers to streamline their shipment process without sacrificing control. Auto Dispatch will allow sales and purchase orders to automatically convert to shipments and then auto-process based on customer-specific parameters. Beyond just auto-processing shipments, the Auto Dispatch tool can even automate accessorials by assessing the nuances of specific locations and retaining that information to be applied to future deliveries and pickups in that same location. Customers using Auto Dispatch are experiencing a 95% reduction in processing time on average.

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As part of FreightPOP's core values to serve its customers, communities and employees, the company is officially partnering with Truckers Against Trafficking (TAT), a nonprofit that aims to raise awareness and train supply chain professionals to identify and report signs of human trafficking. The FreightPOP platform will display the Truckers Against Trafficking logo next to carriers that have implemented TAT materials as a regular part of their employee training and orientation.

The company has also launched FreightPOP Marketplace, its AI-powered technology reimagined to include shipping rate optimization. It is designed to learn from the user's shipping patterns to produce lower and better rates across all shipping modes. Rates are accessible in a single view with the ability to compare for an unlimited number of shipments. Users are saving 30% on shipping costs and five minutes per shipment on average.

FreightPOP also announced a new partnership with Acumatica. A native integration between Acumatica and FreightPOP's logistics solution means users can utilize one-click carrier adding and quick-start onboarding, as well as access FreightPOP favorites like the carrier rate shopping tool, Freight RateHACKER and the advanced freight logistics planning tool SmartPOOL Distribution.

Transporeon unveils new autonomous quotation solution

Transportation management platform Transporeon has launched a new solution that lets freight forwarders, brokers and logistics service providers (LSPs) serve their shipper customers with instant, accurate and automated pricing.

With Autonomous Quotation, transportation providers of all sizes can generate instant quotations for truckload spot transports based on predicted market rates, significantly increasing the number of opportunities they quote for without increasing their operating expenses, enabling them to win more business and drive growth.

Quotes are based on real-time data covering metrics such as market conditions and carrier availability, increasing quote accuracy and velocity while considerably streamlining manual workflows through automation. Customers can define their own rules based on a variety of criteria including margin requirements, equipment type, distance, pick-up and delivery windows and stop location.

The solution is backed by data science and machine learning algorithms. This allows even smaller brokers and LSPs to predict spot market rates with precision and quickly adapt to volatile markets. A real-time win/loss feedback loop enhances the accuracy of the predictions over time and, with the solution serving as a demand aggregation layer through integrations with major TMS vendors, LSPs can access a much broader part of the market and quote more spot business.

The key benefits of Transporeon Autonomous Quotation include speed assured with full quotes delivered in less than two seconds; dynamic pricing based on real-time market conditions; enhanced scalability through automation and reduced manual processes; highest possible quote accuracy and win rate prediction; integration with TMS vendors for increased reach and market transparency.

New platform simplifies driver onboarding, screening

A new platform is available for businesses that employ drivers.

Foley, which offers driver screening and DOT compliance services, has released Dash SaaS platform, which aims to simplify the process of onboarding and screening while complying with all DOT regulations and FCRA requirements.

With proprietary phased screening, Dash allows hiring managers to order specific screens throughout the hiring process. This feature ensures no resources are wasted on candidates not moving forward. Dash offers a premium candidate experience and improves turn-around time for the entire team, making it possible for companies to screen and hire a new driver in as little as two days.

The Dash driver application platform was designed mobile-first, creating an easy user experience for candidates. The web-based system is accessible from any phone, tablet or PC. Driver applications can be saved and restarted at any point, creating a frustration-free process and capturing applications from a wide range of drivers.

Fleetio offers new accounting method for inventory

Fleet maintenance software provider Fleetio added new inventory valuation methods to its list of offerings: LIFO / FIFO (last-in first-out, first-in first-out).

LIFO / FIFO is an accounting method that Fleetio customers can use to determine their organization’s inventory costs. This addition will help Fleetio customers accurately account for parts and inventory used for fleet repairs, gaining visibility into the full cost of in-house maintenance while also resulting in a more organized and efficient fleet.

Any organization that buys and resells units can use inventory valuation methods like LIFO / FIFO to attribute when parts came in and when they left. The LIFO method assumes that the last or most-recent unit to arrive in inventory is sold or used first, with the older inventory left over at the end of the accounting period. The FIFO method assumes that the first unit making its way into inventory, or the oldest inventory, is sold or used first.

With LIFO / FIFO, a fleet that keeps parts available for vehicle repair or performs in-house maintenance can now attribute the cost of parts to specific vehicles, providing a full view of the total cost of ownership.

Technicians now have the ability to accurately account for costs on work orders based on the price of the part at the time of purchase, which can fluctuate. This results in better alignment with accounting teams regarding the allocation of part costs on work orders.

Fleetio currently offers over 25 key features, including parts and inventory management, inspections, VIN decoding, work orders and more within the cloud-based software and mobile app, Fleetio Go. With the addition of new inventory valuation methods to parts and inventory management, Fleetio is adding another layer to its library of features that help organizations track, analyze and improve their fleet operations across the globe.