AI-Powered Tool Simplifies Freight Shipping and Reduces Costs
Railinc, a leading technology company in Cary, North Carolina, has launched the TransmetriQ Rate & Route tool. This tool uses AI to simplify the rail freight shipping process for carload shippers. It removes the need for manually searching multiple sources to find rate and route options. Normally, rail shippers spend a lot of time checking websites, PDFs, and other materials to find the best rates and routes. Now, Rate & Route makes it easier by giving instant access to shipping options, such as transit times, costs, fuel surcharges, and extra fees. This fast access to real-time data helps shippers make decisions more quickly and accurately.
Efficiency Gains and Improved Decision-Making for Shippers
According to Danny Dever, Senior Product Manager at TransmetriQ, the tool stores both contract data and public rate information. This data is used to present complete and real-time origin/destination (OD) pair rate and route options. The tool’s main advantage is its ability to present easy-to-read, comprehensive shipping information, helping shippers make more informed and efficient decisions. It also significantly reduces the time required for quoting new business or servicing existing customers.
With the Rate & Route tool, shippers gain better visibility into various shipping options, allowing them to assess different routes and rates quickly. It displays public tariffs, contract rates, and operational routes, giving shippers a more accurate view of their freight’s movement across the rail network. This transparency helps businesses select the most cost-effective and timely shipping solutions.
Supporting Sustainable and Green Freight Solutions
The introduction of Rate & Route also reflects Railinc’s ongoing commitment to promoting sustainable logistics. Rail transportation is known for its lower environmental impact compared to trucking, offering 75% lower greenhouse gas emissions. The new tool optimizes rail freight routes, making shipping more efficient and contributing to the reduction of the logistics industry’s carbon footprint.
Mika Majapuro, Vice President at TransmetriQ, emphasized that the tool gives shippers the visibility they need to select rail as a greener option for freight transport. This further positions rail as an eco-friendly alternative to traditional road-based shipping solutions.
Real-Time Data for Smarter Decisions
In addition to Rate & Route, Railinc continues to lead the rail industry by providing accurate and real-time interline rail data. This data is crucial for optimizing rail network operations and improving supply chain efficiency. Railinc remains the largest source of interline rail data in North America. It is an essential resource for businesses in the logistics and freight sectors. It is also a wholly-owned subsidiary of the Association of American Railroads (AAR).
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