Jarrod Marinello, Executive Vice President/Owner:
First, decide how many providers to use, then reward business to each one of the providers. You may want to use some more than others, but use each at least five percent.
Don’t award the lanes based on the provider being the lowest cost. Instead, mix it up. This strategy allows the particular provider to average out on its margin, keeps the provider committed on lanes losing margin, counteracts any changes in market, and sustains from provider needing price increases. In return, shippers hold more leverage over their transportation providers, and build up loyalty and sustain locked in pricing year round.
Finally, stick to the plan!
Bat continues to beta test its FREIGHT RATE TOOL powered through Microsoft Azure to help navigate through the most volatile time.
BAT LOGISTICS created a proprietary application that uses Microsoft Azure machine learning, predictive analytics, and artificial intelligence to give BAT the ability to forecast the most accurate freight rate outcome in seconds.
How does machine learning work?
Machine learning uses computers to run predictive models that learn from existing data to forecast future behaviors, outcomes, and trends. Deep learning is a sub-field of machine learning, where models inspired by how our brain works are expressed mathematically, and the parameters defining the mathematical models, which can be in the order of few thousands to 100+ million, are learned automatically from the data.
Stay tuned for future updates