Talking about machine learning (ML) in trucking, we mostly bump into the idea of self-driving vehicles that haul without their human masters. AI and its zealous advocacy have evinced marks of futurism – and we get to fancy far-flung tech marvels. But until self-driving trucks finally come of age, ML has matured enough to unearth new possibilities in the freight world. It has enabled modern trucking companies to build upon the convergence of large pools of data [and] cheaper server and computing costs. Let’s take a closer look at how machine learning means tangible benefits to the carriers.
Machine learning depends on a fair amount of data. And if it’s a good quality or structured data, you have already won half the battle. So, in all cases where you have a high frequency of data, you can add value by intelligence. Here’s how:
Ramp up the pricing process
The more freight you do, the more you have expertise in certain types of freight that need extra attention. It makes it a lot easier to understand and set prices and, from there, makes this process more assertive. In other words, the new operations serve to generate more information about the freights carried out, which contributes to improving knowledge about the ideal price for the services.
An important consideration is the MENA region’s pricing uncertainty when booking your freight. Both the shippers and carriers scramble for the right price and even more for carriers to gain the ability to provide instant quotes on booking. While they fall short of this, shippers keep seeking other providers till they get the exact price. We recognized this early on, and that’s why we came up with MENA’s first instant pricing model. As a registered carrier on our platform, you can provide quotes in real-time to your customers. The embedded machine learning abilities perform a quick rain check on the spot rates, the standard market rates and roll out a logical price point for the inquiry. It makes it possible to improve the carrier’s results, apart from giving you the freedom of doing business with the shippers of your choice. Each day, thousands of shippers place their load requests to enjoy instant gratification and reliability. When you relieve your customers from the drudgery of getting closure, you also thwart your competitors in their game.
Free up with auto-crawling or reading the docs
Other recurring process issues involve the use of ML as well. For instance, freight companies can design an intuitive workflow that is the registration process that uses OCR (a technology that leverages ML) to read, extract characters from images, in this case, the documents.
In this case, instead of the work being done manually, the whole process would be autonomous and automatic. The system identifies all the required information and keeps it ready for usage in real-time. A natural upshot of this e-documentation is the flexibility you experience for your fleets when they perform cross-border shipping. The drivers can easily handle their clearance documents on their smartphones and keep them presentation-ready for any halts. The TruKKer platform lets transporters and drivers manage documents electronically, allowing for faster turnaround time and lesser handovers. Imagine how convenient it would be when shipping reefer or cold chain products wherein “perishability” and time weigh upon the quality of the produce, fresh meat, or pharma.
Know time better
If you consider the above, there is a significant gain in the overall productivity and the reduction of rework resulting from the possible human errors. Overall, it improves the output, reduces cost, and provides other good consequences. But most of all, this is a blessing for the iterative processes and workflows that incorporate a massive amount of quality data.
Take more assertive decisions
Having a steady influx of data and relying on new-age tech helps businesses analyse the aspects fundamental for decision-making. Logistics managers can manoeuvre through the overview of operations and identify actions that are good for their business.
Carriers, like you, sit atop a sea of intelligent data and power their decisions by running advanced analytics. The platform does this automatically to produce 360-degree insights view of daily operations, operating financials, and transport performance. These outcomes place the carriers on higher ground as they can now monitor, benchmark performances, and improve their plan of action. It’s exactly what the TruKKer platform does by collating and then crunching all the information from each interaction at any touchpoint. And you not only assign the best fleets for the load requests on-demand but also foster trustworthy relationships with your shippers.