Loadsmart, a digital freight brokerage firm, made it public that it will collaborate with Oracle Logistics Cloud customers. In doing so it will offer instantly bookable truckload rates and ensure capacity from its group of carriers within the Oracle Management Cloud.
Now Fortune 500 customers like Kraft-Heinz and Coca-Cola will now be able to leverage Loadsmart’s powerful routing guide technology within the OTM cloud. This technology injects immediately bookable of-the-moment rates alongside static prices in their routing guide.
Currently headquartered in New York, Loadsmart activates artificial intelligence technology to automate the booking system. This provides instantaneous prices for shippers and locks in capacity on all U.S. lanes. Therefore, shippers are given the ability to either book manually or integrate via an API so as to automate the process entirely.
With Loadsmart’s integration with the OTM cloud, shippers immediately are alerted with a real-time rate as soon as the primary carrier says ‘no.’ Instead of relying only on static secondary rates which are typically never updated, the Oracle routing guide chooses the Loadsmart real-time market rate when it’s better than the next best routing guide choice.
Consequently, shipment schedulers will always have an actionable price for a truckload for every single load. This way they can smart market-based decisions. Additionally, because you can book rates instantly and tender acceptance is pre-approved, loads can be covered in a swifter fashion which eliminates the need to visit the spot market.
This announcement arrives s other transportation management vendors are partnering up with digital brokerages. A good example of this is the recent pairing of Uber Freight with SAP Logistics Business Network. These new pairings emphasize the new ways shippers are taking advantage of digital platforms to make their operations more muscular.