Third-party logistics (3PL) provider AFN Logistics LLC has launched two software tools that can enhance freight quoting and tracking for users ranging from truckload and less-than-truckload (LTL) customers to AFN's managed transportation clients and its carrier network, the company said Thursday.
Both applications use predictive pricing and automation to drive value for shippers and carriers through improved accuracy, enhanced service, and increased velocity, the Niles, Ill.-based company said.
First, the "Suggested Booking Price" (SBP) tool automates the freight quoting process using a predictive cost model that is driven by machine learning technology. The application determines the suggested booking prices of shipments with higher accuracy and consistency than other widely available tools, according to AFN.
The tool determines suggested load-booking prices based on market conditions like lane, commodity, fuel price, and distance, layered against the firm's historical data and external market data. The model continuously updates prices in real time each time a new load is booked, automating the previously manual rate-sourcing process.
The second product is "AFNgine," a web-based task-management tool that helps coordinators more efficiently prioritize and track their shipments from pickup through delivery. AFNgine allows AFN's logistics managers to analyze shipment data by customer, carrier, and team member in order to deliver insights that drive process improvements, greater efficiency, and more accurate resource allocation, the company claims.
The product launches come a year after AFN acquired Columbus, Ohio-based less-than-truckload (LTL) company HA Advantage and announced plans to use HA's supply chain software platform to offer customers improved visibility, shipping efficiency, and business intelligence.