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  • 15 Jul 2020
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CALISTA Freight Exchange

 

Table of Contents:

What is a Freight Exchange

How Freight Exchange Works

Types of Freight Exchange Platforms

CALISTA Freight Exchange

Technology has driven the shift from manual and expensive systems to automated and agile in all industries, including trade and logistics. New business models are promoting competition, with cloud-based services promising to reduce costs and improve efficiencies. Digital freight exchanges such as CALISTA Freight Exchange are one example of these platforms.

 

Online freight exchanges have been around since the 1990s, but their use has accelerated due to technical advancements like real-time data integration and smart algorithms. Platforms have moved towards freight and B2B, and established logistics service providers (LSPs) and carriers are joining in to remain competitive. Startups are leading the pack when it comes to innovation and challenging the status quo.

 

Traditionally, freight exchange platforms have focused on European and North American road freight due to favorable market conditions: large number of service providers, similarity in services, highly available transport, networks, and technology, high demand for direct partnerships, and simplicity of movement. For example, around 1 in four trucks in Europe move empty, with truck utilization at only around 60 percent.

 

But freight exchange platforms are expanding into air and ocean modes of transport due to technological innovation and easier integration of supply chain processes and participants. The expansion of freight exchange platforms has already impacted certain business areas, such as non-contracted freight loads (spot business) or those outside long-term commercial agreements.

 

What is a Freight Exchange?

CALISTA Freight Exchange: What is a Freight Exchange?

A freight exchange is an online service that features a database of available freight for delivery and vehicle capacity. A freight exchange platform allows freight forwarders, haulage companies, and logistics and transport providers to easily advertise freight and services to customers, as well as match load to capacity.

 

Freight exchange platforms make it easy to communicate freight traffic data to other logistics operators and forwarders. Freight and vehicle space can be advertised privately or publicly. Freight exchange platforms are typically subscription based with fees for additional services.

 

How Freight Exchange Works

CALISTA Freight Exchange: How Freight Exchange Works

The main goal of a freight exchange is to make sure vehicles are filled to capacity on their return trips by matching them to available freight. The freight exchange platform shows a list of loads with delivery dates and prices per trip, so that carriers and drivers can easily find return freight after their deliveries.

 

This ensures that the journey is profitable and the carrier is not merely hauling empty. It also reduces CO2 emissions. Besides matching loads to vehicle capacity, the platform improves supply chain visibility and allows shippers to monitor the exact location of trucks and cargo in real time.

 

New technology like artificial intelligence is improving the efficiency of freight exchange platforms. For example, integration with transport management systems and telematics enables real time load matching with GPS. Providers who use AI also offer more value-added services to businesses beyond matching freights with capacity.

 

Types of Freight Exchange Platforms

CALISTA Freight Exchange: Types of Freight Exchange Platforms

Providers have adopted different business models for digital freight exchanges. Some focus on the value chain with key account management and services tailored to the needs of shippers, while others focus on taking responsibility for information provided to clients. Some freight exchange platforms provide more value and increase customer confidence through ownership. These platforms take liability and risk for the services they offer.

 

The third business model focuses on improving decision making and is generally more advanced. While basic freight exchanges only display information, advanced freight exchange platforms integrate real-time data, advanced analytics and artificial intelligence to make automated decisions and execute contingency plans in case of unforeseen events.

 

Many LSPs still rely on manual data collection and heuristics to make critical decisions, but advanced users leverage big data and powerful analytics to adjust networks and routes on the fly and increase asset utilization. For instance, it might take a legacy transport provider hours or days to provide clients a quote. Modern freight exchange platforms use algorithms to provide prices and rates within seconds.

 

Key Players

 

Generic marketplaces do not offer automated matching of freight supply and demand or value-added services. They focus on the spot segment for small shippers using simple freight services.

 

Specialized marketplaces, on the other hand, focus on transport and end-to-end services, including booking, track & trace, and invoicing. While these platforms typically do not support automated matching, clients can choose from a variety of offers.

 

Crowd shipping platforms mainly target B2C customers that ship small units. They work with private entities to provide freight capacity or similar services, but their technical maturity is comparable to specialized marketplaces.

 

Digital freight exchanges (1.0) are old and new providers with established online services, modern platforms, and more advanced solutions. These platforms typically focus on the spot business in road freight.

 

Digital freight exchanges (2.0) are the modern, technically sophisticated versions of DFE 1.0. They use advanced algorithms to calculate and predict rates, capacities, and optimization methods. Many platforms offer tailored services and take ownership of their services.

 

Carrier integrators operate within an exclusive group of authorized carriers and LSPs. They allow full data integration between shippers and transport providers to automate most processes and are considered to be end-to-end providers for spot and contracted shipments.

 

Traditional LSPs. Traditional LSPs control most of the market and client interactions. They have full-service offerings and take true ownership of services, but technical sophistication can lag behind innovative startups or new entrants.

 

CALISTA Freight Exchange

CALISTA Freight Exchange

Global eTrade Services (GeTS) is an industry leader in trade facilitation, offering advanced solutions that help trade participants streamline processes, optimize compliance and reduce costs. GeTS CALISTA Freight eXchange is an end-to-end online platform that facilitates RFQ, booking, online payments, and invoice management and verification, with visibility throughout your entire data process.

 

Features and benefits:

 

Intuitive dashboard. GeTS CALISTA Freight eXchange allows carriers and freight forwarders to organize their entire freight management process via a single easy-to-use dashboard. The system is regularly updated with 24/7 expert assistance via email, chat or phone.

 

Improved visibility. The AI-driven platform provides insights into supply chain activities, optimizes processes, provides alerts on cargo status and movements, and triggers next best steps in case of unforeseen circumstances. View insights into freight options, free trade agreements, and customs formalities for better decision making.

 

Complete freight management. Manage and upload freight rates, and provide online freight quotations all from a single platform. Creating offers and orders is easy; simply enter details about the freight or transport, route, contact information, and date and time.

 

Advanced contingency planning. The system creates next best steps in case of any unforeseen circumstances to ensure business continuity.

 

Boost profitability. View service provider listings and reach out to more customers to sell more carrier space. Find offers, fixed rates, and a wide range of options.

 

Efficient and secure platform. Connect with other freight forwarders, carriers, SMEs and businesses from a secure platform.

 

View optimal freight solutions. Expand your network with our extensive list of providers and find a carrier or load (full or partial) within minutes. Optimize processes based on budget, preferred timelines and modalities.

 

Alerts. Track the exact location of drivers and cargo, and receive alerts on cargo status and movements.

 

Flexible plans. Subscription plans are flexible and can be tailored to business needs. The web-based app is ideal for on-the-go use, while the integrated option is best for SMEs with existing transport management or similar systems. Integration boosts visibility even more and provides more data for better automated decisions.

 

Learn more by visiting our CALISTA Freight Exchange page or contact us today!

   

 

 

Related Pages:

CALISTA Trade Advisory

eCommerce Compliance

CALISTA

Trade Document Processing

GeTS and PSA Building Global Trade, Supply Chain Platform

 

 

 

 

 

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