Loadsmart, a Gold level member of Oracle PartnerNetwork today announced their collaboration to provide Oracle Logistics Cloud customers instantly bookable truckload rates and guaranteed capacity from the Loadsmart network of qualified carriers directly in Oracle Transportation Management (OTM) Cloud.
Fortune 500 customers such as Kraft-Heinz and The Coca-Cola Company now leverage Loadsmart’s Dynamic Routing Guide technology within Oracle Transportation Management Cloud, which helps transportation teams take advantage of market conditions by inserting instantly bookable real-time rates alongside static prices in their routing guide.
Loadsmart is one of the first digital brokers to integrate with Oracle Logistics Cloud. Through the Loadsmart integration with Oracle Transportation Management Cloud, shippers automatically receive a real-time rate as soon as the primary carrier declines. Rather than relying solely on static backup rates which are rarely updated, the Oracle Transportation Management Cloud routing guide selects the Loadsmart real-time market rate when it is more competitive than the next best routing guide option.
As a result, shipment planners always have an actionable truckload price for every load so they can make market-based decisions. Furthermore, because Loadsmart rates are instantly bookable and tender acceptance is guaranteed, loads can be covered faster, reducing the need to go to the spot market.
According to a recent Gartner Inc. report, “Out of the top challenges transportation leaders are experiencing, ensuring transportation capacity is the top priority for most. So shippers are looking for alternate sources to get capacity at reasonable rates while getting better insights into their transportation needs. Digitized transportation networks can provide a source of additional capacity. Leading supply chain companies have been using these solutions for the last couple of years.”*
Gartner goes on to say, “We also see shippers using these new models more opportunistically as an alternative to the spot market, rather than as competition or replacement of their brokers. Other shippers consider the models to be other logistics providers possibly set up as carriers in their TMS [transportation management systems] route guides.”*
“Shippers are unlocking greater efficiency by pursuing deeper, more integrated relationships with their 3PL partners,” said Hunter Yaw, VP of Product, Loadsmart. “For shippers, integrating systems can provide significant cost savings and efficiency gains. With the Oracle-Loadsmart integration, we have extended programmatic access to one of the largest transportation management systems, further enabling us to price thousands of loads and tender shipments instantly with no human interaction.”
“Shippers have been looking for ways to improve efficiency and better respond to market fluctuations for a long time,” said Derek Gittoes, VP of SCM Product Strategy, Oracle. “By integrating with Loadsmart and its Dynamic Routing Guide technology, Oracle Transportation Management Cloud customers will have new tools to help them take advantage of market conditions.”
“Kraft-Heinz is at the forefront of logistics innovation. Supporting technology solutions like the Loadsmart-Oracle integration is part of our efforts to move more with less. Collaborating with tech companies offers our team new tools to improve efficiency and stay ahead of a changing market,” said Luiz Boucas, Global Logistics Director, Kraft Heinz. “Supply chain innovation is essential to support our vision of being the world’s best food company.”
“We are at our core a data company. With the highest ratio of engineers in the industry, we were the first to introduce truckload instant pricing and booking, and the market’s first server-to-server autonomous truckload booking via our API. This tech-first approach has enabled us to set in place a fully scalable and automated distribution model,” said Felipe Capella, Co-Founder and Chief Product Officer, Loadsmart.
*Loadsmart was mentioned in the Gartner research:
Gartner, Digitization of Transportation Networks Provides an Option for Companies to Tackle Transportation Capacity, Bart De Muynck, Greg Aimi, May 13, 2019 (research available to Gartner subscribers).