FarEye Launches AI-based Dynamic Routing for the Trucking Industry
The technology will reduce miles driven & operating costs to help trucking companies during a time of uncertainty
CHICAGO–(BUSINESS WIRE)–FarEye, a leading provider of delivery management solutions, is proud to announce the launch of its innovative route optimization solution for the trucking industry. This technology aims to solve some of the most pressing challenges faced by companies in the industry, offering a range of benefits including reduced miles and increased operational efficiency.
The centerpiece of FarEye’s new solution is an AI-based dynamic routing optimization engine that analyzes real-time data and considers factors such as truck road restrictions, tolls, freeways, and more. The engine can generate optimized routes that minimize miles driven and fuel consumption, and take into account regulatory compliance requirements to ensure businesses stay on track with legal obligations.
Gaurav Srivistava, CPTO and Co-founder of FarEye, commented on the launch: “This new route optimization solution marks a significant step forward in addressing the challenges faced by the trucking industry. By leveraging AI technology to optimize routing decisions, we can help our customers reduce their miles driven by 8-12%. This reduction not only leads to cost savings but also improves overall business performance.”
In addition to its AI-powered routing capabilities, FarEye’s solution offers analytics and insights that provide valuable information for further optimizing operations. Dispatch planning time can be significantly reduced from hours to just 30 minutes using this platform. The improved efficiency enables businesses to allocate resources more effectively while maximizing productivity.
Srivistava added: “Our mission at FarEye is to enable our clients’ success by simplifying complex logistics. With this new route optimization solution in place, we are confident that our customers will experience increased profitability in an industry that is facing uncertain demand and increasing pressure on gross margins.”
The impact of this technology extends beyond reducing costs for individual businesses; it also has positive implications for driver productivity and retention within the industry. By streamlining operations and ensuring drivers have optimized routes with minimized idle wait times and disruptions due to traffic congestion, FarEye’s solution enhances the overall working environment for truck drivers.
FarEye’s route optimization solution aligns with the company’s broader strategy of providing innovative and cost-effective solutions to the challenges faced by the trucking industry. As demand for freight transportation services remains low, businesses must find ways to boost profitability and create more efficient operations. FarEye is committed to addressing these obstacles head-on and driving sustainable growth within the industry.
About FarEye
FarEye’s Delivery Management platform turns delivery into a competitive advantage. Retail, e-commerce and third-party logistics companies use FarEye’s unique combination of routing, orchestration, real-time visibility, and branded customer experiences to simplify complex delivery logistics. The FarEye platform allows businesses to increase consumer loyalty and satisfaction, reduce costs and improve operational efficiencies. FarEye has 150+ customers across 30 countries and five offices globally.
Contacts
Bradford Peirce, Communications Manager, [email protected]
