Vendorvue’s Post

When a request to tender a load comes in, the process can be tedious. Brokers are often tasked with communicating with various carriers and calculating quotes – manual processes that are often inefficient. It’s a pain point I’ve heard from so many of our customers. But what if there was a way to speed it up while still maintaining the integrity of your organization’s carrier network? Now there is. Last week, we launched a new integration with our partners at https://hubs.ly/Q02LfBPk0: Capacity CoDriver for McLeod’s PowerBroker TMS streamlines these processes by leveraging generative AI. There are myriad benefits of Capacity CoDriver including: Automating the manual work of responding to basic carrier inquiries Brokers can quickly respond to inquiries about load information It generates faster price action so brokers can get to a decision more quickly It builds a robust database of information, so brokers can make informed decisions and spend time building relationships with their trusted carriers It streamlines negotiations, expedites load booking, increases quote volume and reduces fraud risk, which creates opportunities for scalable growth We heard our customers and we worked to solve their challenges using the newest technology available. And we’ll keep working to innovate to address their pain points.

You probably don't think that you need to read another article about LLM application in supply chain... but this one is different! I'm describing three very specific use cases where you can start using the new technology to help with your supply chain data needs and see immediate results. Hint: no chatbots needed. https://lnkd.in/e4SPf4pY

Clarity may be emerging in AI capabilities pricing. Here's how: Software vendors have poured on the communications blitz to inform customers and buyers that they have started incorporating artificial intelligence into their products. But, they have simultaneously, conspicuously and quietly avoided discussions about what these new capabilities will cost. Hang onto your checkbooks folks as software vendors might be gearing up to wallet-frack your company’s bank account again. http://dlvr.it/T7V3LZ

Clarity may be emerging in AI capabilities pricing. Here's how: Software vendors have poured on the communications blitz to inform customers and buyers that they have started incorporating artificial intelligence into their products. But, they have simultaneously, conspicuously and quietly avoided discussions about what these new capabilities will cost. Hang onto your checkbooks folks as software vendors might be gearing up to wallet-frack your company’s bank account again. http://dlvr.it/T7V3LD

Rate sheets - Does the word create pain or excitement in your teams? Missed terms and surprise fees on carrier bills are frustrating and costly. But what if AI could simplify the chaos? Our latest blog dives into the potential of AI to streamline rate sheet management. Imagine quickly decoding complex data, accessing accurate rates in real time, and minimizing costly errors - without the manual work. Curious about what the future of AI could mean for rate sheet management? Read on to learn more 👇

D&B Ask Procurement™, built in collaboration with IBM watsonx Orchestrate, is now available! Isabel Gomez Vidal, CRO of Dun & Bradstreet, shares how this gen AI assistant provides a trusted view into supplier insights, helping procurement teams make faster data-driven decisions, mitigate risks, and drive efficiencies. Learn more: https://ibm.biz/BdaT2X

This is such a great way to open up your data, both internally and externally, using GenAI

AI and algorithms used to adjust pricing (dynamic pricing) is spreading across a number of industries and across parts of supply chains – air, road, ocean etc. Dynamic pricing is also being used more in the parcel market. FedEx began dynamically adjusting surcharges and during the 2022 peak season. It helped bring in $150 million in profit from peak season home delivery fees.  “Now, we will use those same capabilities to better manage customer performance and contract compliance,” Chief Customer Officer Brie Carere said during the company’s earnings call in March 2023. (Supply Chain Dive - https://lnkd.in/g6UKRijJ) UPS’ Deal Manager which aims to make it easier for small and medium-sized businesses to reach shipping deals with UPS also uses dynamic pricing. Per another Supply Chain Dive story (https://lnkd.in/gvRqKZ6z): Deal Manager does this by leveraging pricing science, allowing customers to skip submitting sample data in the quoting process and salespeople to close deals quickly. “Because this platform uses advanced analytics, the more we use it, the smarter it becomes,” Tomé said. “It’s a key building block toward dynamic pricing.” UPS also launched a pilot enabling “systematic day-of-week pricing.” As noted by a couple of analysts in the Supply Chain Dive, it’s doubtful that dynamic pricing will create significant increases in shipping costs. However: “If your AI fixes prices, you’re just as responsible. If anything, the use of AI or algorithmic-based technologies should concern us more because it’s much easier to price-fix when you’re outsourcing it to an algorithm versus when you’re sharing manila envelopes in a smoke-filled room,” Assistant Attorney General Jonathan Kanter told the New York Times in June. Will the use of dynamic pricing end shippers' ability to negotiate contracts? Something to be mindful of throughout your supply chains. For more: Fortune - Top antitrust official raises red flag on dynamic pricing and warns of biggest ‘extraction of monopoly power’ ever -  https://lnkd.in/eHFBpaJd New York Times - Going After the Middleman https://lnkd.in/eTEuduXu The Atlantic - We’re Entering an AI Price-Fixing Dystopia https://lnkd.in/ehBauzrJ - Cathy ID 89392739 © Wrightstudio | Dreamstime.com

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