CASE STUDY

The Global Transport and Logistics Leader’s AI Journey in Freight Rate Forecasting

Transport inner cover mobile

Industry

Transport & Logistics

Work Done

AI ML Consulting, Business Intelligence, Data Analytics

A renowned transport and logistics company owner, running the business for over 25 years approached us with a unique challenge. The company has a diversified corporate clientele of around 4500+ residing worldwide and serves around 200,000 orders quarterly.
They faced the difficulty of freight rate prediction and had an overload of handling some manual processes. After some research, they decided to explore the realm of data-driven decision-making technologies. Hearing about GrowExx‘s prowess in transforming industries through innovative solutions, the transport and logistics client approached us with their difficulty.

The Inquiry

The journey began with a simple inquiry. The company reached out to GrowExx, expressing their ambition to elevate their freight predictive rates solution. Multiple orders, intricate logistics, and the ever-evolving market demanded a solution that could unravel complexities and drive efficiency.

The Preliminary Meetings

GrowExx, known for its expertise in crafting data-driven solutions, welcomed the challenge. Initial meetings were held to unravel the intricacies of the logistics company’s workflow. Discussions delved into the challenges faced, aspirations envisioned, and the nuances of their existing system.

Understanding the Workflow

As the meetings progressed, the GrowExx team immersed themselves in understanding the workflow and requirements of the client. The client wasn’t just looking for a technological intervention; they were looking forward to having a strategic partnership to reshape the future of their operations.

Crafting the Solution

Armed with insights gathered from the preliminary meetings, GrowExx set out to craft a tailored solution. The goal was clear – accurate freight rate predictions, streamlined manual processes, and a system that would empower forwarding agents with actionable insights.

The Transformation

The development phase unfolded, bringing the vision to life. Machine learning algorithms were harnessed to identify hidden patterns, alternative data sources were explored, and outliers were meticulously filtered. The result was a cutting-edge freight rate prediction system ready to redefine the company’s approach to logistics.

Technologies used

python
AWS
mysql
Airflow

A New Beginning

The solution was seamlessly integrated into the existing framework. As the transport and logistics company embraced this new era of data-driven decision-making, the impact was swift and profound. Freight rate predictions became not just accurate but a beacon guiding their every move.
Over the course of a year:
  • Operational efficiency improved by 35%, leading to reduced overhead costs.
  • Overall profitability surged by 25%, validating the transformative power of data-driven strategies.
The transport and logistics giant, once faced with challenges, now stood resilient, prepared for the future, all thanks to the power of innovative technology and a partnership that turned aspirations into reality.

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