Loadsmart, a digital freight brokerage, today announced a collaboration to provide Oracle Logistics Cloud customers instantly bookable truckload rates and guaranteed capacity from its network of carriers directly in Oracle Transportation Management (OTM) Cloud.
Fortune 500 customers such as Kraft-Heinz and The Coca-Cola Company can now leverage Loadsmart’s dynamic routing guide technology within the OTM cloud, which inserts instantly bookable real-time rates alongside static prices in their routing guide.
Headquartered in New York, Loadsmart utilizes artificial intelligence to automate the booking process. It provides instant prices to shippers with capacity guaranteed on all U.S. lanes. Shippers have the option to book manually or integrate via an API to automate the process entirely.
Through Loadsmart’s integration with the OTM cloud, shippers automatically receive a real-time rate as soon as the primary carrier declines. Rather than relying solely on static backup rates which are rarely updated, the Oracle routing guide selects the Loadsmart real-time market rate when it is more competitive than the next best routing guide option.
As a result, shipment planners always have an actionable truckload price for every load so they can make market-based decisions. Furthermore, because Loadsmart rates are instantly bookable and tender acceptance is guaranteed, loads can be covered faster, reducing the need to go to the spot market.
The integration comes as other transportation management vendors are teaming up with digital brokerages. In April, for example, Uber Freight and SAP announced the integration of Uber Freight into the SAP Logistics Business Network, which enables shippers to manage real-time digital supply chains.
These partnerships spotlight some of the new ways shippers are leveraging the benefits of digital freight platforms to streamline operations and optimize their logistics.
“For shippers, integrating systems can provide significant cost savings and efficiency gains,” said Hunter Yaw, vice president of product, Loadsmart, in a statement. “With the Oracle-Loadsmart integration, we have extended programmatic access to one of the largest transportation management systems, further enabling us to price thousands of loads and tender shipments instantly with no human interaction.”