The client is a world-known transport and logistics company. The client provides transportation and logistics services meeting the unique needs of their clients from across the globe. The company has made a good reputation on the logistics and transportation market. It has delivered over 180,000 orders and has 6000+ corporate clients.
Freight Rate Prediction Software for Logistics and Supply Chain Firm
Overview
Freight Rate Prediction Software for Logistics and Supply Chain Firm
Overview
The client is a world-known transport and logistics company. The client provides transportation and logistics services meeting the unique needs of their clients from across the globe. The company has made a good reputation on the logistics and transportation market. It has delivered over 180,000 orders and has 6000+ corporate clients.
Business Need
The tech challenge was to make accurate freight rate predictions with predictive analytics for the forwarding agents to rely on the system’s analysis and cut time on thorough analysis. To solve it, we focused on finding hidden patterns in data; using alternative data sources; filtering data from outliers.
Scope
New Product
Industries
Logistics & Shipping
Services
UI Engineering
Technologies
Qlik Sense
Python
Challenges
01
The client has contacted AARCHIK for smart freight & transport optimization solution development. They often do multiple orders, and it’s very important for them to make data-driven decisions on taking on an order to support business efficiency.
02
They needed to improve their existing freight predictive rates solution with the latest technology. Their existing solution considered less specific information concerning transportation, and the predictions needed a few rounds of reviews. The company’s forwarding agents spent too much time on freight rate prediction and analysis and partnership feasibility.
03
So the goal was to eliminate these manual activities and make the most of the forwarding agents’ time.
Challenge
01
The client has contacted AARCHIK for smart freight & transport optimization solution development. They often do multiple orders, and it’s very important for them to make data-driven decisions on taking on an order to support business efficiency.
02
They needed to improve their existing freight predictive rates solution with the latest technology. Their existing solution considered less specific information concerning transportation, and the predictions needed a few rounds of reviews. The company’s forwarding agents spent too much time on freight rate prediction and analysis and partnership feasibility.
03
So the goal was to eliminate these manual activities and make the most of the forwarding agents’ time.
Solution Features
01
Before the development stage, we made a comprehensive analysis of the client’s case and came up with possible machine learning-based solutions. We also examined the client’s data to see if it was enough for data mining.
02
Used the framework that processed data, made predictions and retrained the model wherever necessary
03
Developed a system to extract data from the client’s TMS (transport management system), provide insights on freight predictive rates and place it backwards.
Results
AARCHIK has improved the client’s existing freight predictive rate software significantly. The client’s recognized our deep expertise in predictive analytics software development, commitment to excellence, and timely delivery.
Results
AARCHIK has improved the client’s existing freight predictive rate software significantly. The client’s recognized our deep expertise in predictive analytics software development, commitment to excellence, and timely delivery.
Have A Query?
Do you need a detailed consultation or feasibility study for this topic? Or it maybe you just want to exchange views and thoughts on this topic. Do get in touch with us and we would be glad to share a cup of coffee together and discuss this topic together.
Have A Query?
Do you need a detailed consultation or feasibility study for this topic? Or it maybe you just want to exchange views and thoughts on this topic. Do get in touch with us and we would be glad to share a cup of coffee together and discuss this topic together.
Subscribe To Our Latest Insights
Subscribe To Our Latest Insights
I want Demo
I want Demo
Latest on AARCHIK
Latest on AARCHIK
Latest Blogs
-
In Search Of Your Inner Voice – Era Of Voice Powered Travel Experiences
Hands-free voice control is on its way! It wouldn’t take long for our virtual devices to receive and act on tasks solely based on our voice commands. There’s a major buzz around the era of voice powered tech experiences and
-
Impact of Blockchain in Modernizing Travel & Tourism Industry
The travel industry is massive, which makes it vulnerable to changes within the huge landscape of the existing market. Blockchain technology is about to revolutionize that. Why? Because blockchain technology
-
Yield Farming – The new DEFI Frontier
The world of decentralized finance (DeFi) is booming and the numbers are only trending up. According to DeFi Pulse, there is $95.28 billion in crypto assets locked in DeFi right now – up from $32 billion the year before
Latest Blogs
-
In Search Of Your Inner Voice – Era Of Voice Powered Travel Experiences
Hands-free voice control is on its way! It wouldn’t take long for our virtual devices to receive and act on tasks solely based on our voice commands. There’s a major buzz around the era of voice powered tech experiences and
-
Impact of Blockchain in Modernizing Travel & Tourism Industry
The travel industry is massive, which makes it vulnerable to changes within the huge landscape of the existing market. Blockchain technology is about to revolutionize that. Why? Because blockchain technology
-
Yield Farming – The new DEFI Frontier
The world of decentralized finance (DeFi) is booming and the numbers are only trending up. According to DeFi Pulse, there is $95.28 billion in crypto assets locked in DeFi right now – up from $32 billion the year before
Information
