Good day,
Ryder System (NYSE: R) is leveraging the cloud-based technology provider Turvo to launch an integrated digital platform to connect disparate pieces of the supply chain.
RyderShare integrates data from multiple transportation and warehouse management systems into a single platform that allows all parties involved in a supply chain to easily see potential problems and inefficiencies and take real-time action to course correct, Ryder said.
“We can solve in minutes what previously took hours, days and weeks to course-correct,” Steve Sensing, president of global supply chain solutions for Ryder, said. “Now, more than ever, there is a greater sense of urgency for real-time visibility in the supply chain and the tools that enable all parties involved to work together to ensure the on-time delivery of the goods we rely on every day. RyderShare delivers these capabilities, as well as the analytics and insights to optimize networks – all delivered by logistics professionals with the experience to make meaningful changes.”
Ryder said the platform is in the early stages of roll-out, with 18 customers and 90 customer locations presently on the platform, but even these early adopters are seeing increased productivity gains of up to 50%, the company said.
According to Ryder, users have also reported 35% labor efficiency savings, leading to more efficient planning for dock labor, an increase in on-time performance for one customer from 95% to 99%, and increased revenue through real-time proof of delivery document transfers.
Turvo said its solution “digitally transforms the order-to-cash workflow and integrates data from multiple transportation management and warehouse management systems into a single pane of glass for seamless execution and end-to-end visibility.”
“Turvo is proud to partner with Ryder to deliver technology that unlocks massive benefits for every stakeholder across the entire supply chain network with complete visibility and collaboration in real-time,” said Scott Lang, chairman and CEO of Turvo, Inc. “Turvo’s multi-enterprise cloud experience will enable Ryder and its customers, as well as all other parties in its customers’ supply chains, to share and collaborate like never before.”
The company added that it “aggregates the entire supply chain into a single source of the truth for faster speed to market, better customer service, and increased profitability—all while maximizing the ROI of existing tech stacks and automating processes.”
RyderShare also comes with analytics and business intelligence tools and content from consulting firm FTR.
Did you know?
While FreightWaves SONAR data recorded an 8% decline last week, volumes are still up 10% year-over-year and suggesting a strong market in June could be coming.
Quotable:
“Prior to COVID-19, I got home about every six weeks, but I’m well past that now. I live in a 72-inch square space, so imagine putting all of your stuff in a small closet and living there for nearly three months. It becomes isolating after a while.”
– Mike Baker, truck driver, on living in his truck and away from his fiancée and family during COVID-19. He is self-isolating in order not to risk exposure to her or their combined six children and five grandchildren on the chance that he is asymptomatic.
In other news:
China halts farm trade
China has stopped importing some U.S. farm products, putting the future of the two nations’ trade deal in jeopardy. (Bloomberg)
Postal Service sees package delays
E-commerce volumes have risen so quickly that a backlog in delivery is building within the U.S. Postal Service. (Wall Street Journal)
Business groups push for liability protection
A group of more than 150 businesses and organizations wrote Congress last week pushing for COVID-19 liability protection upon reopening. (Transport Dive)
COVID-19 impact to felt for years
The impact from a decline in state transportation revenues because of COVID-19 is expected to be felt for years on the state level. (AASHTO Journal)
Trucking recession continues
According to economic research at Convoy, the trucking industry has been in a recession since 2018. (Business Insider)
Final thoughts
As protests related to the death of George Floyd last week raged on across the country, truck drivers are increasingly being exposed to danger. From protestors blocking highways to looting and lawlessness, the dangers have increased for drivers operating within affected cities. Ultimately, drivers need to ensure their own safety, and if they can, avoid these areas. No amount of freight is worth the life of a driver.
Hammer down, everyone!