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.

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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 6,000+ 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

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.
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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.
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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.

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 if 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.
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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.

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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.

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