LogisticsNow launches India’s first benchmark for contracted freight
December 2, 2020: The logistics intelligence platform LogisticsNow today launched 'LoRRI Benchmark' - India’s first benchmark for contracted freight for the road transport industry, which will enable the democratization of the logistics industry with a focus on full truckload (FTL) freight for medium and long haul lanes.
December 2, 2020: The logistics intelligence platform LogisticsNow today launched 'LoRRI Benchmark' (https://www.lorri.in/) - India’s first benchmark for contracted freight for the road transport industry, which will enable the democratization of the logistics industry with a focus on full truckload (FTL) freight for medium and long haul lanes.
LoRRI Benchmark aims to provide the range of freight costs at which one can connect a district, taluka or city across India, identifying truck-types and transporters at competitive costs for 600+ districts. It also enables manufacturers and transporters to interact and close the transaction online, serving not only the large manufacturers but also the food & agri sector.
The platform was designed after observing an industry need for freight benchmarking focused on contracted freight, which could help create win-win outcomes for manufacturers and logistics service providers (LSPs)/transporters and enable competitiveness of an Atmanirbhar Bharat.
Funded by Shell India under its E4 program, LogisticsNow is a logistics intelligence platform that aims to leverage logistics intelligence to drive the next level of efficiency and value.
LoRRI Benchmark is a part of LoRRI platform is the first logistics intelligence platform with integrated visibility spanning INR 10,000+ crores of freight spend, 20,000+ routes nationally, 80+ truck-types, and 650+ transporters being inter-connected in one machine learning-driven platform.
LogisticsNow is also building the National Logistics Grid for India and major markets worldwide. LogisticsNow serves leading companies like Saint Gobain, Baskin Robbins etc. through a collaborative network of logistics and supply chain companies.
Raj Saxena, founder & CEO, LogisticsNow said, “Transportation is gradually getting organized and LoRRI Benchmark seeks to support the next phase of organized & efficient transportation. As the government builds the hard infrastructure, the highways, national waterways etc., LoRRI Benchmark will work to create the soft infrastructure, the commercial information and intelligence layer to connect and make seamless logistics happen”
Benefits to manufacturers & government:
• National Reach: 600 districts of India and growing
• Readily accessible information for contracted freight rates, online
• Single secure and trusted platform pan India
Benefits to transporters:
• Neutral trusted platform
• Data-driven business development channel to acquire new customers and enable efficiencies through return loads/backhauls
• Build brand recall and brand reputation