The Logistics of Logistics REPOST: Faster, Better Freight Quotes with Dawn Salvucci-Favier
Dawn Salvucci-Favier and Joe Lynch discuss creating faster, better freight quotes. Dawn's company, Greenscreens.ai develops dynamic pricing which enables transportation and logistics companies to deliver faster, better freight quotes.
About Dawn Salvucci-FavierDawn Salvucci-Favier is Chief Product Officer & Co-CEO at Greenscreens.ai. She has spent the past 20 years leading Global Product Strategy & Management at major Transportation Management System (TMS) providers. In addition, Dawn was President & Chief Operation Officer at Shippers Commonwealth where she had full P&L management responsibilities for the $6 million, value-added service provider of logistics solutions. In each of these roles, Dawn was able to develop and execute a vision and strategy for delivering industry-leading technology solutions to the Logistics market. She also brings extensive 3PL & Shipper Logistics operations experience having spent time as Director of Logistics Services for NFI Interactive Logistics and starting her career in the inbound transportation management function at Staples, Inc and The TJX Companies.
About Greenscreens.aiGreenscreens.ai is a dynamic pricing infrastructure for the truckload spot rate market that delivers buy and sell-side market intelligence and business insights to help companies grow and protect their margins. The company combines the power of aggregated market data and historical data with advanced machine learning techniques to deliver short-term, predictive freight market pricing specific to a company's individual buying and selling behavior. Greenscreens.ai's mission is to be the industry-leading neutral platform for market data aggregation, market intelligence, and dynamic pricing. Greenscreen's Provide customers with high confidence, predictive buy rate guidance, and differentiated pricing strategies that are powered by the industry's most up-to-date and contextually relevant dataset. Greenscreens.ai is fueled by transactional data from shippers, carriers, brokers, leading market data sources within the Greenscreens network and executed within the context of their existing technology ecosystem and workflow.
Key Takeaways: Faster, Better Freight Quotes- In the podcast, Dawn highlighted the following challenges facing freight brokers and 3PLs:
- Competitive pressures as well funded, venture capital-backed 3PLs and big publicly traded companies invest heavily in tech that enables them:
- Reduce the cost per load.
- Improve the customer experience.
- Deliver faster, more accurate freight quotes using dynamic pricing.
- Market volatility
- Delivering faster, better quotes is especially difficult when the market is volatile.
- Customers (shippers) are becoming more sophisticated and demanding.
- Instantaneous freight quotes are becoming more common.
- Old, dirty data
- There is a lot of data available to brokers and 3PLs, but much of the data is market averages that are non-contextual (out of context).
- Even when the data is good, it is difficult for humans to leverage the data into good quotes – too much to process.
- If freight margins compress, all the above problems become even more evident. When the margins are high, there is more slop and opportunity for brokers and 3PLs to hide their pricing mistakes.
- Competitive pressures as well funded, venture capital-backed 3PLs and big publicly traded companies invest heavily in tech that enables them:
- Dawn also discussed dynamic pricing, which is a pricing strategy that enables 3PLs and brokers to change prices based on algorithms that consider competitor pricing, supply and demand, and other external factors in the market.
- Dawn's company, Greenscreens.ai provides dynamic pricing to the transportation and logistics industry.
- Dynamic pricing is used by many industry leaders and in many other industries including ride-sharing, airlines, professional sports, retail, and theme parks.
- Dynamic pricing utilizes artificial intelligence and machine learning that can help 3PLs and brokers deliver freight quotes that both faster and better (more accurate).
- When companies use dynamic pricing from Greenscreens.ai they win more business because they can deliver faster, better freight quotes. In addition, companies improve their operational productivity and improve margins.