A fireside chat with Emerge CEO Andrew Leto discussed leadership, planning and resilience at FreightWaves’ F3: Future of Freight Festival.
Low-volume contract lanes are often overlooked due to their size, but if mismanaged, these small volumes can have a large impact on a shipper’s bottom line.
“The Premier Partner Program expands our carrier family to include an even higher level of qualification of carriers that can meet the needs of participating shippers,” said president George Abernathy.
“With over thousands of carriers to choose from to move your freight, carrier scorecards are essential to making the right buying decision during an RFP bid event,” Emerge founder and CEO Andrew Leto said.
Shippers and carriers alike have been forced to deal with the financial fallout of a global pandemic, war, rising fuel costs and the looming threat of an economic recession.
The holidays are quickly approaching, and shoppers are checking off their gift lists. This year, however, the festive frenzy has not been strong enough to create a traditional peak season effect.
The holidays are quickly approaching, and shoppers are checking off their gift lists. This year, however, the festive frenzy has not been strong enough to create a traditional peak season effect.
Meeting consumer demands is a team effort that involves shippers, carriers, retailers and technology providers.
Many shippers are relying on contracts and favoring their tried-and-true carrier partnerships instead of taking advantage of plummeting spot rates.
Carriers are grappling with unfavorable market shifts across the board. With prowess and the right partners, however, carriers can remain profitable — and even competitive — in a loosening market.
While shorter bid cycles can prove especially valuable during market shifts, it’s important to remember that freight markets are characterized by their volatility.
Shippers are expected to do their due diligence when it comes to choosing carrier partners. That includes choosing companies that are working within FMCSA guidelines, a task that requires knowledge of said guidelines.
With more choices than ever, shippers must come up with a plan for choosing — and evaluating — their carrier partners.
For many carriers, the rapid adoption of technology has sparked skepticism and reticence.
In order to be proactive in both the planning stage and throughout the year, shippers need access to accurate, digestible and up-to-date data.
The logistics industry is collaborative by nature and leaning into that fact is one of the most effective ways carriers can ward against turmoil during market shifts.
Shippers have already begun negotiating lower contract rates, and carriers should prepare for this trend to continue. This will prove especially important for small and mid-size carriers who often do not have the profit margins to weather a storm.
With over $170 million from investors, executive leadership from legacy companies and a restructured plan for long-term growth, Emerge’s leadership is looking forward to continuing its core mission of modernizing procurement processes.
As more solutions enter the market and companies’ technological suites have become more sophisticated, integrations have gone from nice-to-have perks to need-to-have requirements for many shippers.
When pandemic-fueled headwinds pushed historic amounts of freight into the spot market, many shippers found themselves running an unmanageable amount of seasonal bids to compensate for annual contract failures.
Shorter RFP cycles allow shippers to take advantage of market shifts in the short term, enabling them to maintain rates that are as close to real-time market offerings as possible.
This year, American consumers are expected to spend $7.7 billion – a number that has climbed over $1 billion since 2019 – on food items leading up to the July 4 holiday.
La plataforma de adquisición de mercancías aprovecha SONAR para el análisis del proceso de licitación
“The cost of trucking is dramatically going down and we’re hitting a recession that is not going to get any better. It’s surprising how many shippers are running annual bids when they should be running three-month bid cycles on almost all of their lanes,” said Emerge founder and CEO Andrew Leto.
Partnering with the right carriers can be a complex decision, and making the wrong choice can easily threaten a shipper’s bottom line.
Agility is more important than ever, as pandemic-related headwinds continue to play out and new technologies strengthen competing companies by offering increased flexibility.
Building the most effective RFPs possible requires self-awareness, attention to detail, industry insights and a willingness to adopt new technologies.
Many shippers are now looking to shorten the duration of their bid contracts in order to take advantage of current capacity and avoid being locked into sky-high rates as the market shifts.
As farmers prepare for harvest, shippers should ready themselves for the seasonal rate increases and capacity shortages that accompany fresh fruits and veggies each year.
Consumers are becoming more aware of both the urgency of climate change and the complexities of the supply chain. Companies should be prepared for consumers to start calculating supply chain sustainability into their purchasing decisions.
Focusing on growing Emerge’s capacity, Ramsdell wants to offer Fortune 500 drop-drop freight to small and midsize carriers.
Weather disruptions have always been common across the supply chain. With climate change-induced severe weather conditions on the rise, logistics companies should expect – and plan for – even more challenging conditions in the future.
In order to take advantage of different RFP options, shippers must have access to the data they need to determine which lanes need to be repriced and when. Success requires coupling decision-making with efficient technology.
With experience from J.B. Hunt, Penske Logistics and Transplace, Mark McEntire looks forward to his new role at procurement and logistics platform Emerge.
Shippers may benefit from limiting the number of partners they work with in a loose market, but this exclusionary approach has become a serious — and seriously expensive — problem as capacity has tightened and rates have climbed to record highs.
Shippers are buoyed by the promise of falling rates in the coming months, but this optimistic outlook may put even more strain on rate negotiations in the meantime.
Players in the FreightTech space have continued to thrive despite challenging market conditions. Second-generation FreightTech startup Emerge led the pack in growth and ingenuity throughout 2021.
EDRAY’s global shippers reportedly have seen a 40% increase in drayage productivity, five times less rehandling and 25% less emissions.
After a couple of oddball years, shippers and carriers alike are anxious to see how the market rebalances — or doesn’t — after the new year.
Digital RFPs allow shippers to award bids faster and perform far less manual labor, bolstering their bottom lines and allowing them to repeat the RFP process more often.
“Partnering with someone like Emerge, someone whose primary focus is staying in tune with technology, we can move much faster, pivot when need be and continue to move forward and focus on operational execution for our customers,” said DHL Supply Chain North America’s president of transportation.
Company demos presented during FreightWaves’ F3 Virtual Experience show how automation can provide cost and time savings.
There is plenty of opportunity for innovative companies to solve for industry headwinds, a prospect that excites both new investors and existing stakeholders across the industry.
Freight is attracting record levels of investment right now, and Emerge’s dedication to making the industry more flexible and efficient through digitization has drawn attention.
When the market shifts, flexibility is the key to acting fast and capitalizing on new opportunities. Despite this, many processes in the industry can be quite rigid.
FreightWaves President George Abernathy to become president of Emerge.
Last week’s Transfix, project44 and Emerge deals herald a maturing FreightTech space.
Transportation procurement system will handle $4B worth of bids this year.
The increased efficiency shippers find when using digital RFP tools will allow them to both build out their carrier networks and increase the frequency of their RFPs, giving them the power to respond to market shifts earlier.
Emerge CEO Michael Leto talks about building a digital freight marketplace that moves over a billion dollars in freight spend
Roadrunner announced it has raised $50 million in equity through a private placement led by GlobalTranz and Emerge founder Andrew Leto. The company continues to advance its focus on the less-than-truckload market following a major restructuring.
Emerge founder Andrew Leto and content marketing expert and best-selling author Joe Pulizzi will keynote FreightWaves’ upcoming virtual Sales & Marketing Summit.
For Emerge, the year began with new funding. As the year comes to a close to a close, it has debuted a “major step” in its product strategy.
Using Dynamic RFP’s to Mitigate Rate & Service Volatility
Emerge has announced Book It Now, a feature that allows carriers to instantly book freight from its Digital Freight Marketplace without the hassles of negotiation.
COVID’s disruptions have created an acute awareness of the need for innovation.
Co-Founder Andrew Leto addresses the growth of Emerge’s marketplace and the benefits it offers carriers and shippers.
“If you want to be relevant five years from now as a broker, you should be moving towards algorithmic rates,” said Andrew Leto.
Leto discusses the benefits of opening the economy sooner rather than later.
On today’s episode, Dooner and The Dude are talking about the many ways that companies and individuals are stepping up to #thankatrucker.
There’s a lot to get excited about for what’s coming up at FreightWaves LIVE in Atlanta May 5-6 at the Georgia International Convention Center. Among those things are the live, seven-minute demonstrations. The demos allow companies to showcase their products’ capabilities, while the hard stop keeps audiences tuned in — and the presentations sharp and […]
FreightWaves CEO Craig Fuller welcomed Emerge founder Andrew Leto to the FreightWaves headquarters in Chattanooga, Tennessee, where the two discussed Leto’s rise as a freight-tech innovator and the success of his digital freight marketplace.
How to think and grow rich using the right mindset with Andrew Leto, founder of Emerge
Andrew Leto discusses his industry beginnings and the success of his company’s digital freight marketplace.
The FreightWaves 2020 Freight Market Outlook white paper is our most comprehensive outlook resource to date.
Founded by brothers Michael and Andrew Leto, Emerge uses its FreightTech 25 award-winning technology to break down traditional barriers to how shippers find reliable truck capacity at competitive rates.
Charley Dehoney writes about the founding of GlobalTranz and the companies that were begun by “alumni” of the “GlobalTranz Mafia.”
The ultimate resource providing keen insight into maximizing your supply chain efficiencies.
Whether truck location data is generated from electronic logging devices (ELDs) or proprietary tracking or routing software, there’s one location – the loading dock – where more supply chain visibility is desperately needed, according to freight industry experts. “Anyone can learn how to drive a truck; the hardest part for drivers is navigating through all […]
Kuebix has now integrated Emerge’s private freight matching marketplace into its platform, allowing its users to access broader truckload capacity for their shipping needs.
Crawford’s mission is to secure large enterprise customers, grow the company aggressively, and prepare for the next stage in the venture capital cycle.
Emerge, a startup providing Private Freight Marketplace (PFM) and TMS, and striving to increase visibility into freight supply chains, has raised $20 million in a seed round led by Greycroft Partners.
