Digital logistics specialist Transporeon has presented market-ready data-driven solutions at transport logistic 2019 in Munich (4-7 June) with the following product innovations: Connecting Load Agent, Offer Retrospect, and Offer Prediction.
This year, Transporeon gave the visitors of the transport logistic fair a comprehensive impression of the smart, fully automated future of transport logistics. Its new data-driven solutions Connecting Load Agent, Offer Retrospect and Offer Prediction support shippers from industry and commerce on a daily basis to save time and money by integrating objective criteria into the transport assignment and execution processes. With full anonymity, the three product innovations make use of the wealth of data available on the Transporeon platform, evaluate it statistically, and leverage big data for reliable forecasts (predictive analytics).
“Our data-driven product suite provides shippers with comprehensive market transparency. They receive objective information and can make a safer, better decision on whether to assign a transport contract at a fixed rate to a contracted carrier or put it out to spot market tender on the Transporeon platform. As they no longer need to undertake time-consuming market research, dispatchers at the shipping company can save time and quickly make the best possible decision,” says Thomas Einsiedler, Chief Product Officer (CPO) at Transporeon.
Analysis and reporting of offers on the European spot market for road transports
Offer Retrospect accesses anonymized stored data about the spot-market orders that are processed every month worldwide on the Transporeon platform. Every time a dispatcher plans to place a transport order via the system, a dialogue window immediately shows the average number of offers that shippers have received from carriers on the Transporeon platform in the past 14 days for corresponding transports on the spot market. The information is generated from anonymized data about platform-wide offers. It is then filtered and displayed based on the loading and unloading point, and the shipper’s industry.
Artificial intelligence and smart data processing for predicting offers
Offer Prediction uses artificial intelligence and forecasts the probable number of offers for each transport assignment on the spot market. With full anonymity, the solution works with algorithms and ‘learns’ from the comprehensive information about completed transports stored on the Transporeon platform. In addition to the loading and unloading points and the industry, the model also evaluates information on the loading and unloading date and time, the transport route, and the number of customs clearances. The vehicle type and specific load features (e.g. dangerous goods transports) are also included. “The time at which a transport is placed on the spot market also influences how many carriers submit an offer. This information is therefore also included in the forecast,” adds Einsiedler.
Finding suitable carriers and reducing empty runs in real time based on data
The third product innovation presented by Transporeon at transport logistic 2019 also gives shippers a better overview of the market and increases their chance of getting more offers for transports offered on the spot market. When shippers start the assignment process for a new transport on the Transporeon platform, the Connecting Load Agent automatically compares the submitted transport data with carriers that already have confirmed a delivery on the Transporeon platform for the same day within a defined radius. The agent looks for any matches with the shipper’s upcoming transport. If a match is found, the shipper is automatically informed and Transporeon recommends spot-market transport allocation. If the shipper decides to follow this recommendation, as a next step the system proactively asks matched carrier(s) to submit an offer. “The new function is a win-win situation for everyone involved: shippers can find suitable transport service providers more easily and, ideally, reduce their transport costs. Carriers avoid empty runs and optimise the route planning of their trucks,” says Einsiedler.