PROCUREMENT AND SOURCING,TRANSPORTATION
Ritchie Bros. | January 16, 2023
Ritchie Bros. announced the purchase of a controlling stake in VeriTread, a market leader in transportation technology and services.
This purchase will advance the marketplace strategy of Ritchie Bros., which integrates services, data, and transaction solutions to enhance the entire customer experience. VeriTread was established in 2013, bringing a legacy of expertise in constructing heavy-haul transportation platforms and solutions for industrial equipment, cars, and other assets.
Ritchie Bros. CEO, Ann Fandozzi, said, "VeriTread adds to our suite of services supporting the needs of equipment owners throughout the equipment lifecycle. At the same time, it also helps create a more efficient global marketplace by integrating transportation solutions directly into our new marketplace technology."
VeriTread is designed to be an effective and dependable solution for open deck transport, connecting shippers and service providers via a simple and robust system. The company's solutions include a marketplace for listing and pricing shipments, an in-house brokerage to manage complicated and urgent freight deliveries, complete equipment specs and unique freight estimator tools, and much more.
Founder, President & CEO of VeriTread, Jeff Cox, said, "VeriTread is thrilled to become a bigger part of the Ritchie Bros. marketplace, helping customers and the company transport equipment more efficiently." He also stated, "Together we are focused on delivering an extraordinary customer experience, with trustworthy and reliable transportation for heavy equipment, vehicles, and other industrial assets. We are nimble, flexible, and can't wait to get started!"
Source – Cision PR Newswire
Earlier, Ritchie Bros. owned 11% of VeriTread. With this purchase, it has increased its stake to 75%.
About Ritchie Bros.
Ritchie Bros., founded in 1958, is a worldwide asset management and disposal firm that provides clients with end-to-end solutions for purchasing and selling trucks, old heavy equipment, and other assets. It operates in various industries, such as transportation, construction, agriculture, oil and gas, mining, energy, and forestry. The firm's selling channels include - Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, which offers live auctions with online bidding, and IronPlanet, an online marketplace with once-a-week featured auctions that provide exclusive IronClad Assurance® equipment condition certification.
FourKites | March 13, 2023
FourKites, one of the leading supply chain visibility companies, recently announced its partnership with Spotos to offer Spotos' European customers its end-to-end, real-time supply chain data network. Spotos, a digital freight forwarding platform provider based in Germany, gives shippers access to a wide network of carriers throughout Europe.
The partnership can provide Spotos' customers with minute-by-minute real-time status updates and predictive estimated times of arrival (ETAs) for their shipments at anytime, anywhere in Europe, regardless of whether they are in transit or at rest. Furthermore, with the advanced insights offered by FourKites, the customers of Spotos can reduce their network's detention and dwell costs while optimizing their network and seeking to manage their expenses as shippers better.
FourKites' carrier visibility platform, NIC-Place, will be utilized by Spotos. As a result, its customers can access granular data, including temperature tracking data for high-value transports, like pharmaceuticals, frozen and fresh products, and electronic equipment across all fleet parts. Additionally, with its proprietary Data Control Center (DCC), FourKites' NIC-Place solution allows carriers to share supply chain data with customers securely and flexibly while retaining complete control over their business, network, and data.
Senior Vice President of Sales, Network & Operations EMEA at FourKites, Marc Boileau, said, "We're delighted to team up with Spotos to ensure their customers can seamlessly track their freight in one unified platform." He also said, "With FourKites, Spotos gets the most advanced tracking features for true end-to-end visibility, giving them a single pane of glass solution and the industry's most accurate predictive ETAs for every shipment."
(Source – Business Wire)
One of the leading supply chain visibility platforms, FourKites spreads visibility beyond transportation into warehouses, yards, stores and beyond. The company was established in 2014 and is tracking over 3 million shipments daily across the road, ocean, rail, parcel, air and last mile. It is based in Chicago, Illinois and reaches more than 200 countries and territories. In addition, it combines real-time data with robust machine learning to assist businesses in digitizing their end-to-end supply chains.
SOFTWARE AND TECHNOLOGY,SUPPLY CHAIN
Nulogy | January 11, 2023
Leading supply chain collaboration solutions provider, Nulogy, introduced Nulogy Connect, their new Multi-Enterprise Supply Chain Business Network Platform (MESCBN). The platform is aimed to improve service quality and time to market, and organizations can now easily connect their internal systems with their customers and vendors using this solution.
Nulogy Connect makes it easy and affordable for clients to communicate with their trading partners by employing cutting-edge, low-code and no-code technology. To further guarantee that all internal and external teams are in sync, and make decisions based on correct, real-time data, the system automates and speeds up the distribution of the operational data.
"Supply chains continue to be challenged by disruptions and uncertainty, which reinforces the need for better visibility, collaboration, connectivity, and integration amongst partners. Nulogy Connect delivers speed and cost efficiencies by enabling organizations to integrate into their other technology solutions while minimizing required IT or third party support."
-Jason Tham, Nulogy CEO and Co-founder,
The solution enables organizations to:
Increase collaboration and synchronization with trading partners by implementing robust, cost-effective, and adaptable integrations
Using a simple, low-code interface, that they can create their email and SMS notifications and workflow automation
Custom workflows support productivity and efficiency gains while boosting agility and responsiveness
An industry leader in digital supply chain solutions, Nulogy enables customers and their supplier communities to work together on a multi-enterprise platform. The Nulogy Multi-Enterprise Supply Chain Business Network Platform optimizes supply ecosystems made up of contract manufacturers, brand manufacturers, packagers, third-party logistics providers, and raw material and packaging suppliers to help the supply chain respond quickly to changing market conditions, and work together at the pace of the modern marketplace. The world's leading brands utilize the platform to optimize and accelerate global supply chain performance.