The Logistics of Logistics Home Depot's Empty Mile Solution with Eduardo Silva
Eduardo Silva and Joe Lynch discuss Home Depot's empty mile solution. Eduardo is the Group Product Manager at Loadsmart, a digital freight brokerage that leverages cutting-edge technology and strategic partnerships to help shippers and carriers move more with less.
About EduardoEduardo Silva is the Group Product Manager at Loadsmart. He oversees a team of product managers that are building automated solutions that make it easier for shippers and Loadsmart's internal teams to price, book, schedule, move, track, pay and charge for freight. Eduardo has extensive experience developing software products for different verticals like construction and insurance. He has also worked on digital transformation, helping companies to change their priorities and use technology as a core competency - instead of as a cost center. After spending his time consulting large insurtech companies, Eduardo joined Loadsmart and has spent the past three years helping the company to reduce waste in trucking. Eduardo is leading the team that's co-developing Flatbed Messenger
About LoadsmartLoadsmart is a freight technology company that is removing the barriers between shippers and carriers so freight can move in the most efficient, transparent and automated way. By bringing shippers, carriers, and warehouses together on a connected platform, Loadsmart is helping to solve deep-rooted inefficiencies in transportation. Loadsmart's Flatbed Messenger leverages artificial intelligence, machine learning and strategic partnerships to bring the first supply-led marketplace. Flatbed Messenger eliminates empty miles by matching Home Depot's dedicated capacity to Loadsmart shippers who need flatbed services. Enterprise brands looking to reduce empty miles from their dedicated/private flatbed capacity can reach out directly to flatbedmessenger@loadsmart.com for more information.
Key Takeaways: Home Depot's Empty Mile Solution- Eduardo Silva is the Group Product Manager at Loadsmart, a digital freight brokerage that leverages cutting-edge technology and strategic partnerships to help shippers and carriers move more with less.
- In the podcast, Eduardo and Joe discuss Home's Depot's empty mile solution, which is powered by Loadsmart's flatbed capacity platform.
- The term "empty miles" is used to describe the miles a truck drives with an empty trailer.
- Approximately 79% of truck miles are with full (or relatively full) trailers, meaning the 21% of the miles are empty.
- Empty miles are a major problem for the trucking business for the following reasons:
- Shippers pay more for trucking services, especially, if there lanes require the truck to drive home empty due to the nature of the freight or lack of available backhauls
- Empty miles account for about 1.5% of greenhouse gas emissions.
- With the driver shortage more evident than ever, driving empty miles makes even less sense.
- Drivers and trucks driving empty miles represents capacity that is wasted, which is crazy considering how valuable capacity is right now.
- Empty miles are an even bigger problem when it comes to specialized equipment like flatbeds.
- Flatbed transportation has even more challenges as the work is more dangerous, weather is a big factor, drivers are harder to find, and the flatbed carrier market is even more fragmented than the dry van market.
- Home Depot is one of the country's largest flatbed shippers and they contracted with multiple dedicated carriers for their flatbed capacity.
- Loadsmart launched an automated supply-led flatbed platform that pairs capacity and price to a shipment.
- Flatbed Messenger combines Loadsmart's advanced algorithms with dedicated capacity from The Home Depot to help other shippers find flatbed capacity at lower rates.
- The platform allows shippers access to flatbed capacity that was previously earmarked for a dedicated shipper. Shippers also gain visibility into lower flatbed rates through more affordable backhauls.