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COUNCIL BLUFFS, Iowa- Bat Logistics, one of the most expeditious growing 3PL providers of Transportation, is utilizing Microsoft Azure Machine Learning and Predictive Analytics to develop an implement that will forecast what freight rates will look like in one to 12 months. The implement will be just one more value-integrated accommodation BAT provides to all its customers starting sometime in 2019
“Imagine the competency to lock into a contracted rate just before spot rates soar. Imagine the faculty to forecast how long spot rates will outperform contracting rates and vice versa. Imagine the facility to soothsay how peak seasons will impact freight rates,” verbally expressed Jarrod Marinello, executive of BAT Logistics.
BAT graded the precision of the prognostication implement for 15 months because the company wanted the highest precision it can get. With each test, the precision has amended, and the implement is currently at 60 percent precision. BAT believes, predicated on on the incrementation in precision over the past 15 months, that the precision will be at 75 percent some time in 2018. Anything over 75 percent precision offers extreme value.
BAT will implement 2019
About BAT Logistics
Backhaul and Track Logistics d/b/a BAT Logistics provides transportation solutions to the shipping community. Our core strength is full truck load services in dry, refrigerated, and rail commodities. Our services are executed using key national carriers with a focus on small to medium sized carriers. We operate in headhaul and backhaul lanes both regionally and cross-country. We also utilize door-to-door rail services that cover the entire nation. Our industry knowledge and experience using rail transportation gives us a clear and distinct advantage over the competition.
Phone – 402-712-7256
Fax – 402-712-7200
20 Arena Way, Suite 2
Council Bluffs, IA 51501
Jarrod Marinello, Executive Vice President/Owner: First, decide how many providers to utilize, then reward business to each one of the providers. You may want to utilize some more than others, but use each at least five percent.
Don’t award the lanes predicated on the provider being the lowest cost. Instead, mix it up. This strategy sanctions the particular provider to average out on its margin, keeps the provider committed on lanes losing margin, counteracts any transmutations in the market, and sustains from provider needing price increases. In reciprocation, shippers hold more leverage over their conveyance providers, and build up staunchness and sustain locked in pricing year round.
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!
Losing your focus on your freight pricing-
A majority of the Transportation Freight Providers I’ve worked with that have struggled to gain more business all had to rely on employees with less than 1 to 1.5 years experience and minimal tools to decide what pricing decisions to quote customers. The same observation of minimal experience and tools also applied to a majority of Transportation Providers deciding what pricing decision to quote when participating in freight bids. The focus at the beginning shifted from accurate competitive pricing but over time the focus shifted to needing to adding new customers and quickly.
Transportation Freight Providers focusing their time and money to add new business when they could be focusing on making better pricing decisions by utilizing a Rate Analysis Tool such as BTU’s(www.btusoftware.com) RSO, A cloud-based prediction tool that learns from historical data and uses machine learning techniques to exploit the opportunities hidden in freight data thus increasing business.
BTU SOFTWARE CO.
712 256 7260
There several reasons utilizing freight brokers, so I will list the largest reason such as added capacity, minimized costs, control over liability, flexibility over transportation costs, and save time.
• Working with a broker instantly boost capacity. Depending on the size of the freight broker, they may work anywhere from one thousand to over fifty thousand carriers. This kind of capacity increases the chances that the freight broker can provide truckload capacity for 20-40% less costly than, if you’re asking your current providers that are not brokers. Either way, compare the rates between the freight broker and your providers. That’s how you minimize costs.
• Brokers work with thousands of carriers to call upon to negotiate pricing therefore has more flexibility on its pricing.
• Brokers will save you time, by utilizing a broker it gives you access hundreds of available trucks within minutes.
• Shippers can gain more control over the amount of liability it can require from a freight broker. In 2011, now over half of the states in the USA have passed “Anti-Indemnity Laws.”
Shippers that require its transportation providers to hold shipper harmless from any and all losses. regardless whom is negligent. Anti-indemnity law protects motor carriers (not freight brokers-3pls in most states) and will void the contract as its against public policy for shippers to require the motor carrier to hold shipper harmless from any and all losses by the shipper or not. The purpose of the Anti-Indemnity is to shift the 100% liability from the motor-carrier to balance the liability.
OMAHA, Neb.– July 2, 2011 – Shippers should be aware of the Anti-Indemnity Laws that may have already been passed in their own state.
Shippers require their transportation providers to hold them harmless from any and all losses regardless of who’s at fault. The passing of the Anti-indemnity Law means indemnity agreements in motor carrier contracts are against state public policy and, therefore, void. That puts the balance of liability back to shippers doing business with motor carriers directly.
However, the Anti-Indemnity Law does not pertain to shippers contracting with 3pls/freight brokers. This could mean more business for 3pls/freight brokers, but at how much risk to themselves?