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Digital freight load board DAT Solutions on April 6 announced Schneider Logistics Services joined a pilot program to evaluate emerging tools to better forecast truckload freight rates.
“Our investment in data science and technology is essential to the way we help customers improve their supply chains,” Erin Van Zeeland, Schneider Logistics group senior vice president, said in a statement. “This pilot program is an opportunity to use DAT’s best-in-class data and analysis tools to help us gauge market conditions today and in the future, and provide a reliable and transparent rate right away.”
Schneider will implement two new forecasting tools as part of the program. Market Conditions Index (MCI) is an indicator of truckload freight supply and demand. The company also will use a new rate-prediction technology that utilizes DAT RateView.
DAT said these tools are meant to deliver faster, more accurate forecasts of truckload freight rates and market conditions. The MCI, for instance, incorporates inbound and outbound freight transactions, load board post and search behavior to provide insight into future changes in market conditions, and rates for van, refrigerated and flatbed freight.
“Schneider is an undisputed leader in the use of data science and technology to streamline freight transactions and improve the experience of customers,” DAT Solutions CEO Claude Pumilia said in a statement. “Our team is excited to leverage Schneider’s expertise to make our MCI and rate forecasting tools essential to the way transportation buyers determine truckload pricing.”
DAT said that its rate forecast and MCI tools will be made available to third-party logistics providers, freight brokers, truck fleets, financial analysts and other industry stakeholders this month. — Transport Topics