In 2019, cargo trucks contributed 23% to greenhouse gas emissions in 2019, and in the region, transportation contributes a total of 28% of those emissions.
Shared truck load at less than load (LTL) freight, which allows multiple shippers to share space in a full semi-truck, can reduce carbon emissions, according to Lu Sainz, VPL of Engineering and Product Development Flock Freight.
Saenz says that there is a huge benefit in the logistics industry by adopting the new shared truck load model.
“With the traditional LTL model, freight zigzag through the old hub-and-spoke system and its approach is a waste of time both when it takes shipments to arrive on the shelves and the environment, but also because items are constantly getting damaged Huh. And trucks off the route, ”Saenz said.
In October 2020, Walmart announced that it would need to pay its suppliers and their carriers 98% of the time as of their “Must-Arrival-By” dates or pay a fine of three percent of the cost of the goods.
Sainz says Flock Freight solves the pitfalls and timely delivery problems in its logistics software with data science, machine learning within the LTL industry.
The machine learning-based product, FlockDirect, pools from low-truck-load cargo consisting of a few pallets to create a full truckload. It optimizes routes by pooling freight in one direction so that trucks only stop at each drop-off to avoid conventional terminals.
Saenz says that to create shared truckloads, their pooling algorithms flow through a plethora of possible shipment permits, only to find those that are financially profitable for execution and all parties.
“Origin, destination, weight, dimensions, commodity type, scheduling, shipping costs – these are a handful of the many shipping bottlenecks that our technology must take into account to propose shared truckload pools that will actually work.”
Saenz says that shared truckload shipping negates the need for carbon-intensive terminals. “And, because shared truck-load shipments load and unload only once, 99.9% of shipments arrive damage-free, eliminating the environmental damage of remunerating and replenishing duplicate goods.”
In August 2020, Flock Freight obtained a B Corporation certification. Saenz says this reaffirms their commitment to sustainable freight transportation. In 2019, the company reduced CO2 from the LT3 industry to 4,335 MT. And, for 2020, the company has committed to reduce CO2 to 5,000 metric tons.
Flock Freight raised a total of $ 70.5M in the early 2020s with its latest round B of $ 50M.
Photo by milan degraeve