Source By Optimal Dynamics: Proactively Fill Network Gaps with Optimized Spot Freight that Maximizes Utilization and Profitability
Modern trucking companies operate on tight margins. This has been especially true during the recent freight downturn, which has left market participants wondering when they will reach the bottom of the cycle and hoping for conditions to rebound so they can once again expand their margins.
Full network utilization is the key to unlocking maximum profitability. However, reaching peak network utilization is a challenge with the time-consuming and highly manual approaches traditionally used to find spot freight to fill network gaps.
Source by Optimal Dynamics is revolutionizing the spot freight process with automation and insights driven by Artificial Decision Intelligence.
Continue reading to learn more about Source and how it brings intelligent automation to the spot freight process. Interested in seeing Source in action? Schedule a demo.
The Challenge: Filling Network Gaps With Spot Freight
All truckload carriers need spot freight to reduce empty miles. While the task sounds straightforward, even the best and most prominent carriers struggle with it for several reasons, including:
- Opportunistic spot freight is held in dozens of disaggregated load sources. Identifying and securing this external freight in an efficient manner is nearly impossible.
- Sourcing spot freight is reactive in nature. This can lead to sourcing less-than-ideal freight or completely missing loads by booking too late.
- As poor-quality freight inevitably enters a network, drivers grow less satisfied while organizations miss out on revenue opportunities.
These challenges have been prominent in the trucking industry for decades. But operations are evolving as new technologies and the use of Artificial Decision Intelligence have evolved to the point where they can provide solutions.
Source gives trucking companies the power to replace manual spot freight processes with automation. The result is that organizations source the best freight for maximum revenue and driver satisfaction.
The Solution: Use Source to Find the Right Spot Freight at the Right Time
Source is a solution that allows planners to proactively source optimized spot freight that meets both short-term needs and long-term objectives. Here’s a look at how it works in two simple steps:
- Source aggregates all available freight across external load boards, email, and private customer boards into a single user interface.
- Source pulls this freight into Optimal Dynamics’ Artificial Decision Intelligence engine so planners and dispatchers can access real-time spot freight recommendations that are optimized specifically for their networks.
The screenshots below show what Source looks like within the Optimal Dynamics platform. Contact us for a live walkthrough of how Source works.
How Does Source Benefit Users?
Source helps trucking companies overcome some of the most significant and longstanding challenges in day-to-day operations. Specifically, Source empowers planners and dispatchers to:
- Aggregate spot freight: All sources are available in a searchable user interface that surfaces a range of opportunities.
- Optimize decision-making: Source uses a patent-pending workflow to provide carriers with optimized recommendations for the most probable and profitable spot freight that also meets network requirements.
- Automate matches: Source automates and integrates optimized external freight-to-driver assignment matching within Optimal Dynamics’ Execute to create a streamlined dispatching workflow.
With Source, spot freight selection becomes a strategic process optimized specifically for your network and focused on maximizing utilization and profitability. The Optimal Dynamics platform can now optimize both spot freight and dedicated freight for a carrier’s network.
Fill Your Network Gaps With the Ideal Spot Freight
Source builds on the momentum created by Optimal Dynamics’ other solutions — Plan, Bid, and Execute. Source is integrated directly within Execute’s Load Acceptance and Dispatch modules, giving planners and dispatchers superpowers to streamline an entire workflow from freight procurement to network balancing to dispatching.
Together, this suite of solutions by Optimal Dynamics gives today’s trucking companies the ability to maximize opportunities, grow profitability, and maintain a competitive advantage.
Source is the latest solution to emerge from 40-plus years of research conducted by Optimal Dynamics’ leadership team into leveraging Artificial Decision Intelligence to solve real-world problems for the trucking and transportation industry. With our platform in place, your organization can confidently answer questions like:
- What is the best load for me to book?
- How will this RFP impact my business?
- How can we ensure today’s decisions benefit the entire network in the future?
Source further enhances a trucking company’s ability to make the best real-time decisions to streamline operations and increase profitability. Learn more about Source and schedule a demo now.
