December 3, 2020: LoRRI Benchmark will bring transparency and cost efficiency to the logistics industry
- Built as a national freight benchmark, which aims to synchronize the industry by providing an integrative freight intelligence layer
- Manufacturers and Transport / Logistics companies can drive cost efficiencies of upto 10% by leveraging such a national benchmark
- Over time, will enable efficiency including matching demand and supply at scale for 20,000+ lanes across the country
LogisticsNow, India’s leading logistics intelligence platform, today launched ‘LoRRI Benchmark’ – India’s first benchmark for contracted freight for the road transport industry, which will enable democratization of the logistics industry with a focus on full truck load (FTL) freight for medium and long haul lanes.
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 ”
‘LoRRI Benchmark’ is a part of ‘LoRRI’, the neutral logistics intelligence platform which connects the nation, with 20,000 routes, 80+ truck-types, and 650+ transporters, spanning 10,000+ crores of freight spend.
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.
Announcing the launch, Mr 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