Logistics and transportation software vendor BluJay Solutions on Thursday launched a monthly report it says will provide transportation market intelligence for shippers, carriers, and industry professionals.
Holland, Michigan-based BluJay will sell its "Freight Market Index" as a yearly subscription with monthly delivery. The report is composed of a broad set of key performance indicators (KPIs) derived from the over $18 billion in annualized freight under management currently transacting within BluJay's "Global Trade Network" transportation management system (TMS) platform.
By analyzing that data, users will be able to understand trade-offs between cost and service by seeing how their performance compares relative to industry standards, BluJay said. Those standards include not only rate, capacity, service, and performance trends by lane, equipment, and other factors, but also quartiles within those individual metrics.
"We are enabling both shippers and carriers to benchmark their performance in ways that were not previously possible, to support identifying potential risks or opportunities for their business," Bill Madden, vice president, Logistics as a Service, at BluJay Solutions, said in a release. "We have successfully translated [BluJay's TMS] data into usable formats to provide context, trends, and insight that both operators and executives can use to drive decisions specific to their roles within a business."
BluJay announces the launch of the industry's first Freight Market Index, a tool that enables shippers, carriers, and other supply chain experts to understand how performance compares to industry standards: https://t.co/1cziTRM98Q pic.twitter.com/iTWkm5tmOw— BluJay Solutions (@myblujay) November 7, 2019