Chainalytics Unveils Tool for Analyzing Freight Markets

The new offering allows members of Chainalytics' Freight Market Intelligence Consortium (FMIC) to incorporate predictive analytics on freight markets and rate trends, directly into their off-the-shelf or internally developed transportation-management and planning systems. Available to shippers and third-party logistics providers that are members of FMIC, the technology offers an integrated view of the transportation market. As a result, said Chainalytics, companies can more effectively plan and execute their transportation-related decisions. Chainalytics formed the FMIC in 2003 to address the need for transportation-rate benchmarking. Today, the firm analyzes more than $19bn worth of annual freight spend to supply more than 110 member companies with rate benchmarks, best-practice research and predictive analytics. To facilitate the development of iFMI, Chainalytics partnered with a major provider of transportation-management system (TMS) software, as well as with a leading logistics service provider. Additional partners are expected later this year, the company said.

Read Full Article