Shipwell | May 18, 2022
Shipwell, an industry leader in cloud-based shipping and logistics, announced the release of a load optimization feature built directly into the company’s transportation management system (TMS). This feature helps customers significantly reduce the time it takes to plan and route shipments, the costs associated with moving them and the carbon emissions produced by the carriers hauling them.Combining orders into shipments is often a manual process done by an individual or team within the logistics department, who utilize third-party software or spreadsheets outside of their TMS.
“Shippers finding ways to optimally consolidate orders into shipments and route those shipments with the fewest number of trucks required is critical, With the ever-increasing capacity constraints since the start of COVID-19, exacerbated by crunches such as produce season, load optimization is one of the biggest areas of need. Even with rates for truckload dry van and reefer dropping from historic highs, packing multiple customer orders into the most ideal mode allows a greater quantity to be dispatched at once, greatly reducing both the costs for the shipper and the number of miles those shipments need to travel before reaching their destination.”
-Shipwell co-founder and CEO Greg Price
How load optimization works to help shippers
Shipwell’s load optimization feature leverages a proprietary algorithm to assess each individual order’s details, including size, weight, locations, pickup and delivery times. In a matter of seconds, the orders are consolidated into the most cost-efficient routes and modes. By utilizing Shipwell’s integrated pricing intelligence tool, the feature forecasts individual load rates and compares them to optimized routes to provide a clear picture of the potential savings.
The feature eliminates customers’ need to manually import and export data from third-party planning tools while providing shippers with the ability to customize load plans. Whenever an order is manually added or removed from a shipment plan, the algorithm automatically recalculates the cost and most efficient route for the shipment. The tool helps planners save time and money.
We used to spend four to five hours per week manually planning our shipments and looking for multi-stop truckload opportunities that would lower our shipping costs, said Debbie Lombardo, shipping manager at Tarrier Foods, a Columbus-based supplier of candy and nuts. “Shipwell’s load optimization feature has changed how we operate, and has helped us uncover routes we wouldn’t have considered, or realized were an option.
Beta customers who partnered with Shipwell in developing the load optimization tool have realized savings ranging from 20% to 40% through consolidating their orders into full truckload or less-than-truckload shipments, and routing the trucks in the most efficient routes possible — all while ensuring delivery windows are met.
Load optimization makes it easy for me to find consolidation opportunities that save us money and minimize our shipping costs,” said Angela Steele, head of inventory and planning at Crowd Cow, a Seattle-based supplier of sustainably sourced meat and seafood. I had never scheduled freight before, and Shipwell made the process so easy to learn and stay on top of all the moving pieces. After only a month of running freight, I now feel confident in my ability to work with carriers and know that I am getting the best rates.
Efficient routing using the tool also ensures the shippers may reduce the carbon footprint of their shipments. One beta customer was able to reduce more than 10,000 pounds of carbon emissions by slashing the distance driven by more than 2,700 miles for just one shipment batch.
To learn more about the ways that Shipwell enables shippers to efficiently plan and route shipments, request a demo today.
In a world where shipping expectations and complexity are greater than ever, Shipwell is on a mission to empower supply chain efficiency at scale across every company size, stage, and industry. Supply chain solutions today are highly disconnected, rigid, and difficult to use, but Shipwell is disrupting the status quo. Our solution combines everything our customers need in a comprehensive platform that adapts as the market and business demands change, so they can effectively manage the entire process in one place and never have to rip and replace. Shipwell is proud to be recognized by industry experts as a leader in shipping and logistics, including Gartner Magic Quadrant for TMS, Forbes 2020 Next Billion-Dollar Startup, and was named fourth fastest-growing company in North America on the 2021 Deloitte Technology Fast 500. To learn more, visit www.shipwell.com.
Hydron | June 13, 2022
Mo Chen, Co-Founder of San Diego-based autonomous driving company TuSimple (Nasdaq: TSP), has started a new company, Hydron, committed to developing, manufacturing, and selling hydrogen-powered trucks equipped with L4 autonomous driving technology. Chen is set on transforming long-haul freight transportation through hydrogen-powered autonomous trucks making trucking safer, cleaner, and more efficient, minimizing the carbon footprint of class 8 heavy-duty trucks globally.Chen, a Canadian entrepreneur, co-founded self-driving technology company TuSimple with business partner Xiaodi Hou in 2015. Tusimple quickly attracted the attention of global logistics giant UPS, who invested in the company back in 2019 before TuSimple went public through a traditional IPO raising $1.3 billion in total funding. In December of 2021, TuSimple cemented its status as the leader in the development of AI-powered autonomous driving software by becoming the first and only company to successfully operate long-haul heavy-duty trucks autonomously on open public roads without a human in the vehicle and without remote intervention.
"The path to commercializing autonomous vehicles requires the complex integration of both hardware and software, The biggest challenge in bringing autonomous driving to the market at scale is not software development, but access to reliable mass production hardware, and now with Hydron, we will be able to provide automotive-grade hardware specifically for autonomous networks."
-Mo Chen, Chief Executive Officer at Hydron.
Hydron plans to become a leading provider of hydrogen-powered autonomous trucks and refueling infrastructure through partnerships to become a complete solution provider for autonomous driving companies, commercial fleets, and leading carriers. Hydron also plans to collaborate with partners to build a manufacturing facility in North America to better meet the U.S. supply chain challenges. The first generation of Hydron trucks is expected to enter mass production in Q3 of 2024, with a complete set of sensors, computing units, and redundant actuators to meet L4 autonomous driving requirements.
Hydron is a privately held independent company and is not affiliated with TuSimple.
Hydron, Inc. is a Southern California-based company committed to the development, manufacturing, and sales of purpose-built autonomous ready trucks powered by hydrogen fuel cells. Hydron aims to become the leading provider of hydrogen-powered autonomous trucks and refueling infrastructure and will focus on the North American, European, and Middle Eastern markets.
TenderEasy | July 12, 2022
TenderEasy, Alpega’s cloud-based freight procurement solution, is glad to announce its latest partnership with Upply, an AI-driven benchmarking provider offering road, sea and air freight data prices across the globe.
The partnership delivers live benchmarking data to TenderEasy’s users through full integration of Upply’s data into TenderEasy‘s platform, providing them with the necessary information to understand the current prices in the market, as well as their evolution over time. This gives the customer the possibility and the power to decide when a tender is competitive and what steps to take in the potential negotiation rounds with carriers.
“Partnerships and integrations like this one adds value to everyone planning or running a freight RFQ. In such a volatile market, we at TenderEasy want to ensure users have the latest insights to decide if, where and when to run a tender”,
-Johan Vagerstam, co-founder of TenderEasy and Director Product Management at Alpega.
Partnerships in the digital ecosystems are key to provide cutting-edge software and platforms. Even more in the transportation industries today where prices fluctuate on a weekly basis and capacities are difficult to find and secure. Our partnership with TenderEasy aims at sharing market data and making it available directly to supply chain experts in their procurement solutions for them to take the best decisions.comments Thomas Larrieu, CEO at Upply.
SOFTWARE AND TECHNOLOGY,FREIGHT
Transfix, Inc | August 12, 2022
Transfix, Inc. ("Transfix"), the Intelligent Freight Platform™, today announced Tony Tzeng has joined as the company's first-ever Chief Product Officer. He will lead product strategy, execution, and innovation serving shippers and carriers across the Transfix portfolio. Tzeng's expertise is in enterprise AI, and he joins Transfix from UiPath, a leading enterprise automation software vendor, where he served as VP of Product Management for AI products. Prior to that he served as Principal Lead Product Manager at Microsoft.
"When your goal is to revolutionize the supply chain, you need big thinkers, innovators and operators who make it a reality for your customers. Tony is one of those executives who has it all, His experience driving product and platform strategies, coupled with his AI and ML expertise, will help to accelerate our vision of delivering an Intelligent Freight Platform that powers modern, reliable, and resilient supply chain performance at scale"
-Lily Shen, CEO and President of Transfix.
Tzeng brings 20 years of product and strategy development experience. Most recently, at UiPath, he oversaw the full product life cycle from assessing product/market fit to incubation, product vision, roadmap, launch, and acceleration. While leading the product division for AI-driven automations and a Machine Learning operations platform, he launched new products and grew the portfolio to multi-million dollar businesses that are now growth engines and differentiators for UiPath.
At Microsoft, he led the product team developing cloud and AI solutions for next-gen virtual customer service, giving AI bots groundbreaking levels of accessibility. He also incubated enterprise AI solutions as part of AI+ Research, leading product teams that contributed useful features to well-known software like Dynamics 365 and Microsoft Office. Tzeng also held senior-level positions at McKinsey & Company and Deloitte Consulting.
Transfix has all the pieces for an iconic success story– talented and passionate people, outstanding engineering practices, a data-driven product suite, and a winning corporate culture,said Tzeng.I'm proud to be a part of that story, and I look forward to creating a smarter, more sustainable future for freight.
Tzeng earned his Bachelor of Science in Computer Science at Stanford University and his Masters of Business Administration with Honors at The Wharton School of The University of Pennsylvania.
As announced on September 21, 2021, Transfix has entered into a definitive business combination agreement, as subsequently amended, with G Squared Ascend I Inc. ("G Squared Ascend I") (NYSE: GSQD), a special purpose acquisition company sponsored by affiliates of G Squared, that is expected to result in Transfix becoming a publicly listed company. Completion of the business combination is subject to customary closing conditions.
Transfix drives modern supply chain impact at scale with its Intelligent Freight Platform™. By combining enterprise-grade, machine-learning technology with intuitive software and dedicated supply chain experts, Transfix is enabling organizations to deliver with high performance and high reliability, drive long-term strategy and capacity planning, take empty miles off the road, and optimize their networks, at scale. Today, Transfix connects shippers to nearly 30,000 carriers with real-time, many-to-many freight matching and the visibility they need to make their supply chains more efficient and environmentally responsible. Learn more at Transfix.io.
About G Squared
G Squared is a global venture capital firm that partners with dynamic companies throughout their life cycles as a complete capital solutions provider, working to create value for companies, investors, employees, and other stakeholders. The firm focuses on investments in growth-stage technology companies and has invested in over 100 portfolio companies since it was founded in 2011. The firm's affiliate, G Squared Ascend I Inc. ("G Squared Ascend I"), offers transformative private companies a path to public markets via SPAC. For more information on G Squared and its portfolio, visit: www.gsquared.com. For more information on G Squared Ascend I, visit: www.gsquaredascend.com.