Success Story
1.7X increase in order conversion & 1.2X increase in rate per mile by leveraging Advanced Analytics solution for a leading logistics service provider
About the Client
A leading logistics service provider based out of US
Challenges
- The customer was struggling with its legacy Transportation Management System (TMS) that lacked process efficiencies. It needed an intelligent TMS that can offer a comparison with market rates, external datasets (Load Board, Fuel Rate, Weather Data, etc), and historical load rate to enhance the probability of order conversion
- Limited capabilities of its Transportation Management System impacted its day-to-day operations, thus resulting in long execution time during load booking, manual errors, and customer dissatisfaction
Solutions
Innover helped out the leading logistics service provider by implementing cutting-edge platforms and technologies such as Azure, Snowflake, Databricks, React, and Python that had in-built Advanced Analytics solutions.
1. Enabled a single platform that provides its agents with intelligent carrier searching capabilities and a comprehensive booking dashboard as well as integrated with internal and market data
2. Mapped and prioritized load demand and carrier availability factoring in several criteria such as route, equipment, date of journey, truck availability, backhaul and inbound availability, historical performance, etc
3. Adopted a Machine Learning-powered scoring model to rank and prioritize carrier matches and prescribed booking rates to maximize profitability as well as enable efficient data-driven execution
Impact Delivered
1.7X
Increase in order conversion
1.2X
Increase in rate per mile
42%
Reduction in execution time