Oracle and Loadsmart, digital freight broker specialized in full truckload shipping and Gold level member of Oracle PartnerNetwork, announced their collaboration to provide Oracle Logistics Cloud customers instantly bookable truckload rates and guaranteed capacity from the Loadsmart network of qualified carriers directly in Oracle Transportation Management (OTM) Cloud.
Fortune 500 customers such as Kraft-Heinz and The Coca-Cola Company now leverage Loadsmart's Dynamic Routing Guide technology within Oracle Transportation Management Cloud, which helps transportation teams take advantage of market conditions by inserting instantly bookable real-time rates alongside static prices in their routing guide.
Loadsmart is one of the first digital brokers to integrate with Oracle Logistics Cloud. Through the Loadsmart integration with Oracle Transportation Management Cloud, shippers automatically receive a real-time rate as soon as the primary carrier declines. Rather than relying solely on static backup rates which are rarely updated, the Oracle Transportation Management Cloud routing guide selects the Loadsmart real-time market rate when it is more competitive than the next best routing guide option.
As a result, shipment planners always have an actionable truckload price for every load so they can make market-based decisions. Furthermore, because Loadsmart rates are instantly bookable and tender acceptance is guaranteed, loads can be covered faster, reducing the need to go to the spot market.
The integration comes as other transportation management vendors are teaming up with digital brokerages. In April, for example, Uber Freight and SAP announced the integration of Uber Freight into the SAP Logistics Business Network, which enables shippers to manage real-time digital supply chains.
These partnerships spotlight some of the new ways shippers are leveraging the benefits of digital freight platforms to streamline operations and optimize their logistics.