All posts tagged freight rates

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.

BAT Logistics, a provider of 3rd Party Logistics and Transportation solutions, wrapped its tenth year of business with another year of growth. Over the past year, BAT has found more innovative ways to adapt to change, and execution has led to an increase in the amount of dedicated freight that the company has been awarded.

One way BAT accomplished this was by creating its own proprietary
capacity matching technology that uses Microsoft Azure machine learning, to give BAT the ability to find the best-suited carrier that’s available in seconds.
 “It’s all about getting the most out of our carrier base rather than focusing on the size of our carrier base said Jarrod Marinello, executive vice president. “We have technology working for us to learn our carrier’s most desired lanes, and the likelihood the carrier will have an available truck.

 

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 – 7122567260 Fax – 7122567265 20 Arena Way, Suite 2 Council Bluffs, IA 51501 www.batlogistics.com

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

With BTU’s high powered freight rate tool and carrier pairing, BAT can benchmark pricing that doesn’t satisfy their customers with pricing that does satisfy and still provides capacity. In essence, BAT is turning losing freight rates into winning freight rates by adjusting their margins and carrier relationships.

Another major value for BAT is in seconds BTU identifies BAT’S best carrier that’s available for the chosen lane. It’s been a way for BAT to keep ahead of the market trends and position themselves ahead of the market’s supply and demand.

BTU is a freight rate tool that uses Microsoft Azure machine learning, predictive analytics, and artificial intelligence to give brokers the ability to find the right rates that provide accuracy and high margins.

BAT Logistics now has machine learning and predictive analytics to determine its freight rates. Azure Machine Learning predictive analytics service makes it possible to measure more data to quickly create and deploy predictive models as analytics solutions.

How will this help our customers?
BAT can quickly provide its best rates that remain in line with BAT’s working ability (capacity), so customers can rest assured BAT’s providing its best pricing and matches its capacity.

BAT is beta testing a freight rate prediction system that makes it possible to quickly search deeper data quickly and deploy predictive models as analytics solutions.

BAT will have the ability to provide the best pricing to customers and suggest the best pricing strategy customers should take regarding spot or contract, short term or long term bids, etc. This gives cutomers the potential to save a lot of money.

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.
https://btusoftware.com/

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BTU SOFTWARE CO.
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