in Freight Transportation
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In an ongoing survey, Princeton Consultants has presented a list of potential disruptors of freight transportation, and asked executives to assess the degree and timing of their impact.
Half of the survey participants are executives at carriers, 3PLs and brokers, including leaders in global integrated package delivery, truckload, Less Than Truckload (LTL), trucking brokerage, intermodal, air and ocean cargo, and Class I railroads. Other participants are executives at shippers that procure multimodal transportation and in some cases manage large private fleets of trucks, rail cars and other assets, at equipment suppliers, and at organizations in finance, government, education, and media.
The results show broad agreement about Big Data, the Internet of Things, “Uber for freight,” drones, and driverless trucks—and about the business areas that will be affected. We believe the future leaders in freight transportation will be those who leverage these current disruptors and their industry savvy.
Princeton Consultants works with transportation executives to improve service, costs, and market share by using data science to move from management-by-gut to optimized management by analytics. Regarding disruptive technologies, we conduct an assessment of strategy, processes and systems. We help identify opportunities, and recommend a path forward.
The assessment includes rigorous, data-driven analysis to quantify potential benefits. It consists of interviews with business and analytics stakeholders; review of existing systems, models and procedures; and review of data sources. It can include testing of solutions in alternative technologies. When appropriate, we prototype a custom software solution.
Following are business areas where disruptors are projected to greatly impact freight transportation:
For Carriers, 3PLs and Brokers
- Tracking and monitoring equipment
- Real-time routing of vehicles, personnel, equipment and products in transit
- Inventory management and picking/packing at distribution centers
- Demand forecasting
- Workforce recruiting and monitoring
- Tracking and monitoring shipments and products
- Pricing transportation
- Inventory optimization
- Sourcing transportation modes and carriers
To inquire about an assessment for your business, contact us and let us know your areas of interest.
Princeton Consultants blends optimization and predictive analytics, data science and management consulting to help businesses optimize planning and execution. Founded in 1980, with offices in Princeton, NJ and New York, NY, we have completed over 1,500 projects for our clients, including many of the leading freight, package and passenger transportation companies across modes, as well as industrial shippers. We develop software solutions that span planning, tactical and real-time operational decisions for the better management of vehicles, freight and workforce. In addition to building out complete systems, Princeton Consultants advises clients on strategy and necessary process changes.