The partnership allows users of LLamasoft’s Data Guru tool to access Chainalytics’ frequently updated market information, and avoid the use of aggregated or average rates.
The supply chain design software provider LLamasoft and supply chain consulting, analytics and market intelligence firm Chainalytics said Thursday that Chainalytics’ proprietary Freight Market Intelligence Consortium data will be integrated with LLamasoft’s Data Guru data analytics application.
Data Guru now offers joint Data Guru/Chainalytics customers seamless access to Chainalytics’ freight market intelligence data, which represents more than $20 billion of North American freight market information from more than 100 of the world’s biggest shippers.
The consortium provides strategic freight market intelligence, benchmarking and comparative analysis to its members in a private forum.
LLamasoft said the integration with Chainalytics’ freight intelligence data allows supply chain modelers to avoid using approximations or carriers’ standard aggregated market rates. The integration allows users to access, manipulate and load transportation rates through the Data Guru data analytics application to ready it for supply chain modeling and optimization.
Chainalytics periodically updates FMIC’s transportation market data to ensure its accuracy.
“Supply chain modelers have historically estimated transportation costs for different network alternatives based on limited information and simplistic, aggregated approaches,” said Matthew Harding, principal of Chainalytics’ Freight Market Intelligence Consortium. “But transportation costs can range up to 80 percent of total supply chain costs, so access to sophisticated, timely market intelligence is key to their network modeling efforts’ accuracy and long-term success.
“This combined solution will really benefit companies who want to closely evaluate the cost and service trade-offs in their supply chain designs,” Harding said.
Chainalytics to integrate freight intelligence data into LLamasoft design tool
