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Did you know that paperwork—bills of lading, certificates of origin, invoices and insurance policies—accompanying most large shipments of goods, accounts for one-fifth of the total transportation costs? Imagine if you could do away with paperwork by digitizing the information and “beaming” it into the cloud where all involved parties could access it any time.

That’s the promise of the blockchain, a technology we’re investing in at GlobalTranz. Wired magazine notes supply chain and logistics transaction documentation to be “one of the potentially most compelling use cases for blockchain technology.” A plethora of startups—as well as major companies like IBM and Walmart—are betting that the technology will change the way goods travel around the world.

A recent Wired magazine article follows the path of a container of avocados from India to the Netherlands that “involves dozens of people and businesses.” In this scenario, reports Wired, “Farmers need to drop off the avocados, boats need to pick them up, regulators need to sign off on the container’s contents, and someone needs to make sure that the fruits haven’t gone bad. Most of these handoffs and communications are still done via analog technology.”

Up to 30 different parties are involved in shipping this one container of avocados. Blockchain technology can digitize the stacks of paperwork that accompany supply chain transactions and push it all to the cloud, where key information is visible to stakeholders within the supply chain. Notes Wired, “That system might live inside a mobile app, and involve other tech, like QR codes, cameras, RFID chips, or internet-connected sensors.”

Smart Contracts and Proving Provenance

The blockchain is a distributed ledger that digitally records transaction history between parties. Information gets stored in blocks of data that are “chained” together. Each data block added to a chain is digitally unique and encrypted with a date/time stamp and key, which makes it unalterable. Information in a blockchain can’t be hacked or counterfeited and is immediately “trusted,” and therefore, accepted by anyone with access to the related blockchain.

This essential trust element is what makes blockchain technology ideal for executing what is known as “smart contracts.” For example, notes Wired, “When that shipment of avocados reaches the port in Amsterdam, it could automatically trigger a payment to the shipper back in India. Smart contracts could also be used to handle the required paperwork since they’re more secure than an emailed PDF and cannot be easily manipulated.” Smart contracts can be are enormous time and money savers.

Blockchain tech can also detect fraud and help shippers guarantee the provenance, or authenticity of products. Provenance ensures that every shipped good includes a digital “passport” that proves its authenticity. These so-called passports include essential data such as where and when the product was manufactured and what steps it took throughout its journey.

Future Blockchain Standards Are Essential

Blockchain technology has the potential to drive efficiency, visibility and cost savings into supply chain and logistics management, but full-scale adoption is only possible if we have standards.

Today, BiTA (Blockchain in Transport Alliance) is the vanguard leading blockchain standards creation in the transportation and logistics industry. BiTA is actively working with its members (GlobalTranz is a founding member) investigating use cases and developing a common framework for which the logistics industry can build revolutionary blockchain applications.

Read the complete Wired article for more insights into how blockchain technology will help transform logistics.

Learn more about Blockchain in Logistics.

Deep learning, machine learning and AI

Technologies such as deep learning and artificial intelligence are quickly transforming entire industries, including logistics. Consulting firm McKinsey even says deep learning could one day become “the secret sauce in many different business processes.”

A recent article from the Financial Times shines a light on deep learning, a technology that offers tremendous potential for supply chains and manufacturing. The term itself “refers to the use of artificial neural networks to carry out a form of advanced pattern recognition. Algorithms are trained on large amounts of data, then applied to fresh data that is to be analyzed,” says Richard Waters, the article’s author.

Think of deep learning as a subset of machine learning—a technology GlobalTranz employs within its TMS and other supply chain systems. According to Forbes, “Machine learning takes some of the core ideas of artificial intelligence (AI) and focuses them on solving real-world problems with neural networks designed to mimic our decision-making. Deep Learning focuses even more narrowly on a subset of machine learning tools and techniques, and applies them to solving just about any problem which requires ‘thought’ – human or artificial.”

The Power of Deep Learning in Logistics

One of the most common applications of deep learning and machine learning is an area called predictive analytics. Within the GlobalTranz TMS, deep learning technology is used to help shippers make better decisions. For example, if you’re looking at lane planning, a traditional analytical model would look at a fixed set of assumptions. Analytics based on deep learning can consider dynamic attributes like weather or traffic and self-evolve over time to recognize patterns that humans would not see.

We also use deep learning to help companies track financial forecasts, pace and flow of production, and order processing. These data points, combined with insights into carrier capacity and performance, allow companies to answer questions like, “How many more orders can we service within budget for a given set of lanes? Or how much can we increase manufacturing without going over our freight budget?”

In other areas of the supply chain, experts see more uses of deep learning in: “predictive equipment maintenance, yield optimization, procurement analytics and inventory optimization,” says Mr. Walters, Wired Magazine author.

Companies that are quick to adopt deep learning technologies could also reap gains in value. McKinsey says, “Depending on the industry, the value a company could gain from applying this technology could range from one to nine percent of revenues.”

How Can You Get Involved Without Spending a Fortune?

The good news is for you to take advantage of these emerging, cutting-edge tools, you don’t have to buy the technology. Instead, partner with a 3PL that owns a robust TMS with integrated deep learning and machine learning capabilities. GlobalTranz’s TMS gives users the capabilities they need to employ this nascent technology and deliver more informed suggestions that help automate logistics decisions and drive supply chain efficiency.

 

Learn how you can start using machine learning and deep learning technology in your logistics operations, call 866-275-1407 or Request a TMS Demo.

PHOENIX (June 5, 2018) —(BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that it has selected The Jordan Company, L.P. (TJC) as its new equity partner. TJC has signed a definitive agreement to acquire 100% of GlobalTranz from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, Susquehanna Growth Equity, Volition Capital, Savano Capital Partners, and other investors. The transaction is expected to close within 45 days.

TJC has a long history of partnering with management teams to help build businesses through a combination of strategic investments to drive organic growth and acquisitions. “We are extremely impressed by what the current management team and employees have accomplished in building GlobalTranz into a world-class business,” said Brian Higgins, Senior Partner, The Jordan Company. Higgins added, “GlobalTranz is a very strong fit with our existing portfolio companies and we expect to leverage our experience in the logistics space to help management continue to grow the business.”

“I am excited to have TJC as our new owners,” said Bob Farrell, chairman and CEO of GlobalTranz. “I would like to thank Providence, Susquehanna, Volition and Savano for their support, guidance and governance. The collective and collaborative hard work by everyone on the GlobalTranz team has allowed our existing investors to realize a strong return while concurrently positioning the company well for the next steps in its evolution.”

Ranked the 10th largest freight brokerage in the US by Transport Topics, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and services and superior customer service delivered by the best people in the industry.

“Our new partnership with TJC will allow us to keep doing what we are doing – driving execution, building differentiated solutions and technology, being a 3PL of choice for all our carriers, providing superior customer service and being a strategic partner to our customers. TJC will allow GlobalTranz to continue its market leadership and scale to the next level. There is no other team in our industry like ours and together we will continue to drive unique success. I look forward to the days ahead,” added Farrell.

GlobalTranz was advised by Harris Williams & Co. and Weil, Gotshal & Manges. The Jordan Company, L.P. was advised by Kirkland & Ellis LLP.

For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.

About The Jordan Company, L.P.

TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation and Logistics, Healthcare and Consumer, and Telecom, Technology and Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL.

MEDIA CONTACT:
Annie Graupner 612-229–4040
communications@globaltranz.com

In today’s capacity environment, shippers are competing against one another to book an available truck at a reasonable rate. Carriers have the choice to haul loads that are the most lucrative for their business and keep them within legal limits of HOS rules. Due to time constraints, on a given day, drivers may be forced to choose between two stops:

Stop A

A warehouse with efficient dock operations and wait times under 15 minutes. Dock attendants are always courteous and welcoming and there is an air-conditioned waiting area with clean restrooms and well-stocked vending machines. Pallets for pick up are adequately packed, protected, and stackable within a carrier’s network.

Stop B

A warehouse with appointment only pick up operations. Drivers are often delayed here for 1-2 hours and the company’s break-room and facilities are off-limits to non-employees.

If you were a driver, which stop would you choose to be the most productive? Stop A or Stop B?

It’s a Carrier’s Market

Welcome to the era of the carrier’s market. For the first time in many years, drivers and carriers find themselves in a position to choose which shippers they most want to work with, giving rise to the so-called shipper of choice environment. Shippers who provide better experiences for carriers could reap long-term benefits in the form of higher service levels, fewer claims, and better rates.

The following are five ideas you could employ immediately to help transform your company into a shipper of choice.

  1. Don’t Waste the Carrier’s Time

Time is money, and in today’s reality of fewer drivers, ELDs and tighter HOS rules, if a truck isn’t moving, it’s not making money.

Consider these guidelines

  1. Be Courteous and Accommodating to Drivers

Ensure that your facility’s employees are treating drivers and carrier employees with respect. If a driver only has room for one more pickup at the end of the day but has two options to choose from, they will likely choose a shipper who is easier to do business with.

Another way of showing your respect for drivers is providing them with break areas at your facilities where they can wait comfortably, get a snack or coffee, and use the restroom while their truck is being loaded.

  1. Package Shipments Properly

Proper packaging is critical to preventing cargo damage and making your freight stowable within a carrier’s network. Consider packing shipments with foam peanuts, using wooden crates, adding corners to pallets and wrapping pallets in plastic to better protect freight in transit.

Organize your pallets so they can be stacked, allowing the carrier to maximize its trailer space. Standard size pallets (48”x40”, 42”x42”, 48”x48”) that can be stacked or racked are the most sought-after freight. Keep your freight below 50 inches in height and avoid non-stack stickers, placing cones on top of pallets and overhanging items.

  1. Plan Ahead—Consolidate Pickups

One of the most significant costs for carriers is driving to your facility and waiting to get loaded. Naturally, the cost to pick up one shipment is the same as the carrier’s cost to pick up three or four loads, except they’re earning revenue from multiple loads instead of one.

If you know you’re going to have multiple loads that must be picked up on a given day, it’s more efficient for you, and the carrier, to stage those loads to go on a single carrier instead of separate carriers. When you combine your loads for one carrier, you reduce wait times, dock doors required for loading, and the risk of loading freight into the wrong trailer.

  1. Pay Freight Bills on Time

It’s important to pay carriers quickly and accurately. Freightwaves.com suggests the best way to accomplish this is using a TMS that integrates clean data between carriers and shippers. A strong TMS integration helps shippers and carriers quickly identify and resolve rate discrepancies and makes the payment process efficient for both parties.

 

For more information on becoming a shipper of choice, call 866-275-1407 or Contact Us

PHOENIX (June 3, 2018)  (BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven freight management solution provider, today announced its CEO and Chairman, Bob Farrell, as well as Senior Director of Business Systems, Darwish Adi, will be moderating and participating on panels at the 2018 eft 3PL & Supply Chain Summit.

The summit, taking place in Atlanta, June 5 – 7 brings together over 800 leaders in the logistics and supply chain network, offering them a chance to network, learn, discuss trends and challenges, and share new ideas.

Sponsored by Eye for Transport (eft), a global leader in business intelligence for the transportation, logistics and supply chain industries, attendees will focus their discussion around the important role technology has had on maximizing supply chain efficiency.

Farrell will be moderating the “Leaders in Logistics: Today’s Challenges, Tomorrow’s Trends and How to Navigate Successfully” panel on Wednesday, June 6th from 4:15 – 5 PM. Panelists will include Transplace CEO, Tom Sanderson, J.B. Hunt Vice President of Highway Services, Eric McGee, and Load Delivered Logistics CEO, Robert Nathan.

“As the logistics industry continues to grow and evolve, it is critical for supply chain leaders to stay ahead of trends and properly position themselves for the future,” said Bob Farrell, chairman and CEO of GlobalTranz. “I look forward to discussing the ever-increasing sophistication and strategic value of logistics including technology trends, trade agreements, buyer behavior, and consolidation of the fragmented 3PL market space.”

Farrell will also be participating in the “M&A in Logistics: What are the Biggest Trends, Deals, and Opportunities?” panel on Thursday, June 7th from 1:45 – 2:30 PM, where panelists will discuss the current state of M&A, valuation drivers, and how to manage an acquisition.

Adi will moderate the “Blockchain and its Practical Uses in the Logistics Industry” panel on Wednesday, June 6th from 4:15 – 5 PM. Panelists will include BiTA President, Chris Burruss and Echo Global Logistics VP of Strategic Analytics, Scott Friesen.

For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. Transport Topics ranked GlobalTranz the 10th largest freight brokerage firm in the U.S. for 2018.

For the past 30 years during the month of June, the Commercial Vehicle Safety Alliance (CVSA) has been conducting roadside inspections of commercial motor vehicles to ensure safe operation. This year, the blitz is set for June 5-7 with a focus on hours-of-service compliance.

What is the CVSA Roadside Inspection?
The CVSA is a non-profit association comprised of local, state, provincial, territorial and federal commercial motor vehicle safety officials dedicated to improving commercial motor vehicle safety throughout the U.S., Canada and Mexico.

As part of their mission, the CVSA conducts annual inspections of commercial motor vehicles and drivers along roadways for a 72-hour period every June. Inspectors will primarily be conducting the North American Standard Level 1 Inspection, which is the most thorough roadside inspection with 37 steps examining both the driver and vehicle mechanical fitness. Last year, the emphasis was on proper cargo securement. This year the focus is on hours-of-service compliance.

Hours-of-service regulations are issued by the federal government and control the working hours of anyone operating a commercial motor vehicle. The rules limit the number of hours spent driving and working and establish minimum rest periods and time off between trips. Hours-of-service compliance is checked and enforced by specially trained and certified local, state, provincial, territorial and federal commercial motor vehicle inspectors.

How Do CVSA Roadside Inspections Impact Shippers?
From June 5-7, an average of 17 trucks and buses will be inspected every minute across North America. In prior years, we’ve seen tighter capacity and rate increases up to 30% during the 72-hour inspection blitz.

How Can Shippers Avoid Rate Increases and Capacity Issues?
The good news – planning ahead is a simple solution to ensuring the roadside inspections don’t disrupt your shipments. At GlobalTranz, we’ve found that increasing lead times between booking shipments and the actual pick-up of the shipment can significantly reduce your transportation costs. The best way to prevent disruptions or rate increases is to book shipments as early as possible.

Another great way to avoid disruptions from roadside inspections is utilizing the most reliable carriers. If you have an extensive carrier qualification process in place, you will already know which carriers have high safety ratings and whether they hold their vehicles and drivers to the highest standard.

From load planning to execution, your GlobalTranz support team and carrier relations department is poised to work on your behalf to avoid delays to your freight operations. Call 866.275.1407 or connect with an expert today.

 

For more information about:

 

Truck loading at dock.

If you’re a shipper, carrier or logistics company, it’s been impossible to ignore the news about the industry’s ELD mandate (Electronic Logging Device), which went into effect late last year. April 2018 was the first official month where carriers could be fined, ticketed or put out of service for non-compliance. We first covered the emergent ELD mandate in an article that appeared on the GlobalTranz blog last December.

In that first article—”Top 5 Questions Shippers Have About the ELD Mandate”— we addressed the sources of angst many shippers were having with the new regulation.

What’s been the impact of the first 45 days of working under these new, more restrictive guidelines? What’s been the impact on rates and transit times?

Here’s what we found:

Working in the New ELD Mandate Environment

Before the ELD mandate went into effect, industry analysts and insiders were mostly pessimistic in their predictions of how it would impact shipping rates, freight capacity, transit times and more. While a few analysts warned of the end of the trucking world as we know it, most others predicted modest rate increases and longer transits which would affect delivery times, resulting in disruptive supply chains.

ELD Compliance

Prior to the ELD mandate going live, there was industry-wide speculation that we could see about a seven percent decline in the for-hire carrier sector. However, according to recent survey results from the website Carrierlists.com, compliance is averaging a high 97 percent. It appears the highest compliancy standings have been reported by super-regional carriers (1000+ miles, but not nationwide). Additionally, we’ve witnessed fewer carriers than anticipated leave the marketplace due to ELDs—an effect we attribute to a strong freight economy and high per-mile rates. While carriers may be putting fewer daily miles on their assets due to ELDs, the declines are offset by channeling loads toward shippers who are easy to work with and are advantageous for their operations and business.

Transit Times

Depending on lanes and distance traveled, transit times are increasing amongst most carriers, an early prediction that has mostly come true. With the ELD mandate in place, drivers can no longer alter logbooks, which helped some exceed government-regulated daily driving limits. We are advising our customers that many borderline lanes of 450 miles or longer—previously one-day trips—are now turning into two-day transits. For drivers, shorter work days has resulted in a 3-10 percent reduction of time on the road, according to DC Velocity. That’s also why some drivers are less inclined to take on the longer hauls of 650-750 miles per day. DC Velocity also notes that driver reticence to haul these loads is keeping supply tight, which is resulting in a “significant amount of price inflation.”

Freight Rates

At the end of last year, most carriers and 3PLs were predicting an across the board 5-10 percent rate increase. Depending on the lanes and where you are shipping in the country, rate increases could be more. Our advice is to be prepared for potential rate increases and budget accordingly so that your logistics teams aren’t surprised. It’s suggested to become more familiar with spot market costs, as dedicated capacity may start to diminish during the peak shipping seasons.  Rate increases and capacity constraints aren’t coming from the ELD mandate alone. Factors such as the driver shortage, high freight demand due to the growing economy combined with the ELD mandate are conspiring to keep rates higher.

Why You Need to Become a “Shipper of Choice”

In today’s capacity environment, carriers have the luxury of choosing to haul loads that are the most lucrative for them, which means you must eliminate the inefficiencies in your supply chain operations. When you do this, you’ll move closer to becoming the kind of customer carriers love to work with: the so-called shippers of choice.

Here are five tips to get started on your path to becoming a shipper of choice:

  1. Ample Parking—It may sound basic but having enough parking for trailers at your loading docks and warehouses means drivers don’t have to waste time finding a place to park if they are waiting to unload or pick up. The quicker drivers can get back on the road the better.
  2. First-Come, First-Serve—Drivers prefer flexibility when dropping off shipments; they also like smooth-running shipping and receiving operations. Avoid by “appointment only” warehouse and loading dock policies. Given a choice of appointment-only destinations and first-come, first serve (FCFS), carriers prefer the latter. With tighter restrictions on hours of service, drivers need the flexibility to plan their routes to lawfully comply with the ELD mandate. FCFS loading and unloading policies give drivers more flexibility when planning their days.
  3. Avoid Detention Fees—Avoid making your carriers wait too long. As a general rule, when carriers wait over two hours you will accrue detention fees and could potentially be flagged as a shipper to avoid due to inefficient dock operations. Make every effort to streamline your operations to minimize wait times for drivers.
  4. Allow Drop Trailers—If drivers have the flexibility to drop off trailers vs. waiting to load or unload, you increase productivity for carriers, which in turn helps keep your freight costs down. Drivers can also be exposed to wasteful waiting time due to shippers spending time locating an available dock. Structuring smooth facility operations is important to once again minimize wait time for drivers.
  5. Provide a 48-Hour Lead-Time—When you give your logistics suppliers a 48-hour lead time they will have more time to find the best carrier for your shipment at a competitive rate. Less than 48-hour lead time pushes most providers to source for available capacity within the current spot market rather than dedicated markets. Spot markets typically will yield higher freight costs from carriers due to the volatile level of demand in that particular timeframe.  It is important to provide as much lead time as possible to your provider in an effort to reduce freight costs.

Stay tuned for next week’s blog where we will discuss becoming a shipper of choice in greater detail.

Learn more about becoming a shipper of choice and driving efficiencies into your supply chain. Call 866.275.1407 or Contact Us. 

This is part II of our series on how blockchain technology will impact the supply chain and logistics industry.  In Part I, we talked about how blockchain technology can solve logistics inefficiencies and shed light on how it works.  Today we’re discussing 10 benefits and use cases for blockchain in logistics, and how the logistics industry will advance this technology for widespread adoption. 

10 Benefits of Blockchain in Logistics

 

1. Monitors Performance History

Monitoring the performance history of carriers and other suppliers through a blockchain framework allows parties to see evidence of past performance, including on-time deliveries, on-time pickups and more.

2. Maintains History of High-Value Assets

Having a trustless and accurate record of asset history is imperative to ensure it complies with safety standards from factory floor to delivery.

3. Improves Quality Assurance

Every authorized member involved in a transaction can access critical data to validate its milestones. Evaluating freight at pick-up and delivery locations reduces unsubstantiated disputes.

4. Improves Compliance

Blockchain and ELDs (electronic logging devices) are a natural pair. ELDs can send a stream of driver behavior and route data to a blockchain in real-time. Pairing this information with traffic data and weather data gives carriers and shippers a tool to improve routing.

5. Monitors Real-time Freight Capacity

In trucking, available capacity can change by the hour. Through blockchain transparency, you will know when and where capacity opens up.

6. Improves Payments and Pricing Processes

Payment processing and settlement is secure in a blockchain, and transaction information is easily accessible. Shippers will have more data to determine rates.

7. Detects Fraud

Every transaction that takes place on a blockchain is visible to everyone on the network. Nothing can be removed without it being detected. This transparency obviates the areas where fraud occurs, such as double brokering. Through the common practice of notarization and nonrepudiation, shippers can securely track the creation and modification time of a document or transaction—confirming authenticity.

8. Prevents Theft

A blockchain can contain detailed information and rules, such as photo IDs and rules for the pick-up and delivery of freight. These added precautions will improve security and reduce the possibility of freight theft. A blockchain also enables the secure transfer of titles for what are known as smart properties.

9. Proves Provenance

Provenance ensures that every shipped good includes a digital “passport” that proves its authenticity. These so-called passports include essential data such as where and when was the product manufactured and what steps it took throughout its journey.

10. Allows You to Issue Smart Contracts

The ability to issue smart contracts is considered by many to be the Holy Grail of blockchain technology. Smart contracts are enormous time and money savers. Says Entrepreneur, “With smart contracts, agreements can be automatically validated, signed and enforced through a blockchain construct—eliminating the need for mediators and therefore saves the company time and money.”

Barriers to Widespread Blockchain Adoption

Despite a large number of industries impacted by blockchain advances, there exists a handful of concerns that are slowing the technology’s widespread adoption. Here are four common barriers:

To Advance Blockchain Technology We Need Standards

The experts agree that one factor necessary for the advancement of blockchain technology within the logistics industry is the creation of standards. Today, BiTA is the vanguard of the movement leading blockchain standards creation in the transportation and logistics industry.

The drive to enact worldwide blockchain standards brings to mind the creation of another set of standards that transformed an industry in the 1960s. EDI (electronic data interchange) standards developed by the U.S. transportation industry laid the foundation for secure communication between different computer systems. The EDI standards would eventually transform how banks communicate with retailers—a platform that allowed for the quick and simple exchange of data.

With thousands of companies eager to develop and promote blockchain technology in logistics, BiTA is investigating use cases and developing a common framework for which the industry can build revolutionary blockchain applications. In May 2018 BiTA will hold its Spring Symposium (BiTA’s first symposium occurred November 2017) where members will discuss how the organization will develop and implement blockchain standards.

While it’s difficult to predict exactly when the logistics industry will experience wide-scale blockchain adoption, in the meantime, you can help by getting involved and watching for opportunities to pilot programs within your logistics operations and supply chains.

White Paper: Introduction to Blockchain Technology in Logistics

GlobalTranz Reports Record First Quarter Revenues

PHOENIX (May 8, 2018)  (BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today reported a first-quarter revenue increase of 43 percent and earnings growth of 118 percent year over year. GlobalTranz continues to outpace many of its competitors in the industry through customer expansion, financial growth and technology leadership.

The company continued its technology leadership with the release of its next-generation TMS technology. This includes additional features and benefits for shippers, carriers and the company’s independent freight agents. Among these are new capabilities around data analysis, predictive analytics, AI, machine learning and actionable reporting. The company’s new platform is completely multimodal, multivendor, multicurrency and fully supports all mobile environments.

“As logistics increasingly becomes digitized, GlobalTranz is pioneering the use of new technologies to create efficiencies in supply chain operations,” said Greg Carter, CTO. “Our TMS platform is driving breakthrough innovation in digital freight matching, capacity sourcing, real-time visibility and predictive analytics. We’re enabling businesses to simplify their logistics management, uncover valuable insights and make data-driven decisions that drive cost savings, operational transformation and create competitive advantages.”

Commenting on the company’s record first-quarter results, Bob Farrell, chairman and CEO said, “Our strong Q1 performance was the result of our continued focus on expanding our relationships with existing customers and winning new customers with advanced technology and products. We are excited to see our customer relationships become more strategic and focused on making logistics an integrated and differentiated part of their businesses.”

Company highlights for the first quarter of 2018 include:

Additionally, GlobalTranz was named among the Top 10 Freight Brokerages in the U.S. by Transport Topics in April.

“Our rapidly growing managed transportation offering is allowing us to move up the value curve with our customers,” said Renee Krug, CFO. “Our commitment to building solutions that position our customers for market-leading growth is driving our financial performance.”

The company remains confident that it will continue its strong growth throughout 2018. “Both our freight agent and direct sales channels continue to demonstrate proven industry leadership. Our people and partners are the best in the industry, which is driving our success,” said Farrell, “Execution of strategic mergers and acquisitions will add to our current run rate of over $1 billion in revenue.”

For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. Transport Topics ranked GlobalTranz the 10th largest freight brokerage firm in the U.S. for 2018.