Between pointless deadhead miles resulting from nonexistent masses and masses which can be fraudulently reposted on numerous loadboards, freight fraud has had a significant impression on provide chain operations in recent times.
Jerry D’Addesi, CRO at Konexial, sat down with FreightWaves’ Timothy Dooner on the Might 30th episode of What the Truck?!? to debate what Konexial is doing to chop down on points like freight fraud and double brokering.
Konexial is rolling out an answer that can minimize down, if not get rid of, a number of the frequent weak factors in load transactions.
“We’re taking shippers and brokers and matching them up with carriers in a form of Uber or Priceline atmosphere,” D’Addesi mentioned. “We permit individuals to bid per mile on the shipper facet, and on the service facet we match them up by way of proprietary algorithms that take the friction out of the method of negotiating masses.”
One key a part of Konexial’s answer entails assigning a singular transportation identifier to every load, which can then be hooked up to each social gathering related to that load all through its lifespan.
“We’re actually centered on correct identifiers and following ISO certification requirements, which can decrease the double brokering and different freight fraud we’re seeing on the market,” D’Addesi mentioned. “We’re hoping that this spreads by way of the schooling we’re making an attempt to offer to stakeholders, and that we might help heal the trade from a number of the persistent issues we’ve been seeing.”
Konexial gives asset safety by way of what the corporate calls VIN + TUID verification, in addition to GPS monitoring and geofence-based alerts. If a automobile strikes with out authorization or skips a required checkpoint, Konexial flags the occasion and alerts the correct group for decision. This minimizes the chance of loss, theft, or double brokering, whereas providing a full digital chain of custody for each automobile.
“We place distinctive identifiers, principally a watermark, onto each load,” D’Addesi defined. “We require everybody related to that load, together with shippers, carriers, brokers, and so forth, to make use of that identifier, which prevents the load from being reposted.”
D’Addesi hopes that this system is adopted by shippers, carriers, and loadboards across the nation. If extensively practiced, this degree of safety would change how freight is dealt with and drastically cut back fraud.
“Whenever you care about it, you can begin to get rid of a number of the frequent weak factors that dangerous actors goal,” mentioned D’Addesi. “By means of our TMS, we flag when data doesn’t line up or when issues don’t appear proper, as a result of we work onerous to do what’s proper for our purchasers and companions from an moral standpoint.”