We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Banyan teams with Optym to help trucking fleets fill empty lanes

Banyan teams with Optym to help trucking fleets fill empty lanes

Joint software solution allows LTL carriers to quickly fill gaps in utilization.

banyan screen shot
October 1, 2020
DC Velocity Staff
No Comments

Transportation technology provider Banyan Technology Inc. said Tuesday it has partnered with the logistics optimization software provider Optym to provide solutions for less than truckload (LTL) carriers to balance their networks, maximize capacity utilization, and increase revenue.

The joint solution enables LTL carriers to identify lanes that need more volume—such as empty or partially empty lanes—and rapidly fill them at a one-time determined rate. It will be available as part of Banyan’s Intelligent Pricing suite and Florida-based Optym’s HaulPlan planning and optimization software.

According to Banyan, LTL carrier operations already have data on empty lanes or partially full lanes, but can find it difficult to turn that information into action when shipper pricing is based on annual contracts. By targeting specific lanes, LTL carriers are now able to incentivize and attract the right freight for their network. “Our partnership with Optym is a natural fit because we already share LTL carrier customers,” Lance Healy, Banyan’s co-founder and chief innovation officer, said in a release. “For LTL carriers, the partnership opens doors to get more out of their networks with near real time agility.”

The deal follows other recent moves by Banyan to expand its services, such as launching a dynamic pricing tool for carriers in 2019 and partnering with transportation management system (TMS) vendor Pierbridge Inc. the same year in a move to help third party logistics (3PL) companies keep ahead of rising parcel shipping costs and complexity in carrier management.

Editor's note: This story was revised on October 2 because an earlier version incorrectly included information about another company with a similar name.

Banyan Technology is now partnering with @OptymLE! This #partnership will allow #LTL #carriers to further balance their network, maximize capacity utilization, and increase revenue. More details: https://t.co/nLmLwduQD8 pic.twitter.com/5oJ1GtIdi3

— Banyan Technology (@BanyanTech) September 29, 2020
Transportation Technology Trucking Transportation & Load Planning (TMS)
KEYWORDS Banyan Technology Optym
  • Related Articles

    Report: Lockdowns don’t stop cargo theft

    Envase Technologies acquires SecurSpace

    Cargo Chief teams with GateHouse to share trucking data

Recent Articles by DC Velocity Staff

U.S. Xpress makes “significant investment” in self-driving tech vendor

Truckload carrier predicts challenging year ahead for industry

Train kept a rollin’

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Cold chain giant Lineage Logistics buys its own rail operator

  • Outlook 2021: What’s in store for logistics supply chain?

  • Cushman & Wakefield Brokers Sale of 170 Acres plus Lease for 1MSF Build-to-Suit for Home Improvement Retailer in Commerce City, CO.

  • Thriving in the long haul: interview with Colin Yankee

  • Capacity challenges will continue in 2021

Now Playing on DCV-TV

2mw 01 18 21 thumb

LTL Carriers Using Yield Management Techniques to Identify New Accessorial Charges

DCV-TV 4: Viewer Contributed
As we head into 2021, shippers are not too optimistic about negotiating rates with their carriers. The reason for this, as highlighted in the three CODE RED Webcasts we've hosted with our friends from CSCMP and NASSTRAC, is that in today's transportation marketplace, shippers are operating in uncharted waters. With...

FEATURED WHITE PAPERS

  • Proven Benefits: A Compendium of Slotting Optimization Success Snapshots

  • Bridging Information Gaps in Dock and Yard Operations

  • How Intelligent Sensor Solutions Turn Data Into Action

  • Order picking Solutions: Understanding Your Options

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing