DALLAS, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Today, during Uber Freight's annual customer conference, Deliver, the company unveiled an evolution to its end-to-end enterprise logistics platform designed to meet the complex and evolving needs of the industry. These enhancements, which span a strategic integration with Uber Direct, modular TMS functionality, advanced Insights AI features, and flexible procurement software, deliver customers greater transparency, control, and intelligence across the entire supply chain. The rapid evolution demonstrates tremendous progress against the next-generation roadmap laid out by the company last year and the innovation of the Design Partner Program, which was also announced during this year's conference.
The updates come on the back of a strengthening 12 months for the company, which supports nearly $20B in Freight Under Management and partners with 30% of the Fortune 500. In the past year, the company has managed over 24 million loads across nearly 6,000 brands, leveraging a vast, AI-optimized network and sophisticated procurement strategies to drive efficiencies and deliver over $1.5 billion in savings for shippers just in the last 12 months.
"Over the past year, we've worked closely with our shipper partners to understand their evolving challenges and anticipate their future needs," said Lior Ron, Founder and CEO of Uber Freight. "The progress we've made, and the innovations we're unveiling today, are guided by these valuable customer insights. By collaborating with our customers, we've not only advanced our technology but also empowered them to achieve greater efficiency, resilience, and control across their supply chains. Together, we're not just navigating the complexities of modern logistics -- we're redefining what's possible."
Seamless Solutions for Same Day and Scheduled Deliveries
Uber Freight announced today an integration with Uber Direct, Uber's on-demand delivery-as-a-service platform. The partnership brings together one of North America's largest logistics networks with one of the largest same-day delivery courier networks. Central to the integration is Uber Freight's Parcel Transportation Management System (PTMS), which is now integrated with the Uber Direct platform to power new and faster delivery options including same day and scheduled deliveries.
Uber Freight has managed over 250 million parcels in the last 12 months through its PTMS product and millions of packages are delivered annually by retailers and merchants using Uber Direct. This integration will further optimize every stage of the logistics process, reinforcing Uber Freight's commitment to delivering comprehensive solutions that anticipate and meet the evolving and growing needs of shippers.
"We are confident that this will deliver meaningful value to growing and enterprise shippers by speeding up their network, lowering transportation costs, improving service reliability and enhancing customer experience," said Hany Elkordy, Head of Last Mile for Uber Freight. "It's the right time to offer this expanded service to shippers leveraging our scale at Uber Freight and integration with Uber Direct and others."
A Modular, Flexible TMS for Modern Shipping
Uber Freight unveiled significant enhancements to its next-generation Transportation Management System (TMS), ensuring it is as dynamic and adaptable as the supply chains it supports. These updates introduce a more modular, extensible, and flexible experience that enhances visibility, streamlines operations, and integrates seamlessly with platforms like Uber Freight Exchange.
Key new features include an intuitive tracking portal, a simplified dock scheduler, a streamlined load management experience with intelligent data handling, and upgraded financial management tools. Furthermore, upcoming AI-powered search and shipment execution workflows, powered by new forms of large language model (LLM) powered automation, promise even greater efficiency and intelligence in managing freight operations.
"During a time of significant growth and evolution for our company, the Uber Freight TMS has provided us with the visibility, foresight, and control needed to manage our entire logistics operation effectively," said Daniel Moran, Corporate Logistics Manager at Meridian Adhesives. "The system's adaptability to our specific needs ensures we're always equipped with the right tools to manage logistics efficiently, streamlining everything from procurement and execution to payments. This has not only saved us time and money but also improved our overall business outcomes."
Logistics AI for Supercharged Decision-Making
Uber Freight is infusing new advanced features into Insights AI, the company's generative AI-powered insights tool designed to revolutionize how shippers manage their networks, including enhanced chat functionality for more complex queries and a new KPI dashboard that delivers real-time, actionable insights.
Since announcing Insights AI in September 2023, the tool has been fine-tuned through thousands of queries representative of $1 billion+ FUM (Freight Under Management), gaining even greater precision and depth in its analysis. Looking ahead, Insights AI will leverage cutting-edge AI models to offer proactive recommendations, transforming how shippers make decisions and navigate logistics challenges.
"AI is redefining logistics, and Uber Freight is at the forefront of this shift. With Insights AI, we're empowering shippers to make more informed decisions, streamline operations, and achieve greater efficiency throughout their supply chains," said Raj Subbiah, Head of Product at Uber Freight. "We've invested heavily in advancing our AI capabilities, ensuring it delivers tangible benefits at every stage of the logistics life cycle. The future of logistics is here, and AI is the key to unlocking its full potential."
Next-Generation Software for Procurement
Uber Freight is expanding access to Uber Freight Exchange: Contract, making the procurement platform generally available to all shippers, as well as launching early access to Uber Freight Exchange: Spot exclusively for Uber Freight Managed Transportation customers, with full availability expected in 2025. Additionally, shippers can manage freight awarded through Exchange directly within the Uber Freight TMS, providing a single, transparent hub for all load procurement and management activities.
Over $350 million in contract freight has been awarded across 8,500 lanes since Uber Freight Exchange was launched last year, and the platform has transformed how shippers and carriers secure freight by unlocking cost and time savings, improved collaboration, faster and more informed decision-making, and network growth.
"Uber Freight Exchange has helped us centralize our procurement operations, allowing us to act faster and smarter in a rapidly changing logistics landscape," said Robert Chase, Director, Transportation and Inbound Logistics at Tosca. "We previously spent considerable time manually setting up and running contract bids, as well as managing individual spot auctions. The time and cost savings we've achieved, along with the ability to grow our network and build strong relationships with our carriers, have significantly strengthened our transportation strategy and made our supply chain more efficient. It's a critical part of how we execute procurement."
Industry-first Collaborative Design Program
Uber Freight announced an industry-first Design Partner Program, a unique initiative where Uber Freight customers collaborate deeply with the company on products that influence how goods will move both today and tomorrow. To date, nearly 40 Design Partners have played an instrumental role in shaping the development of next-generation solutions, providing critical insights and feedback that guide the innovation process. Furthermore, the advancements across Uber Freight Exchange, the Uber Freight TMS, and Insights AI were all incubated through invaluable collaboration with Design Partners like Tosca, Meridian Adhesives, and Charter Next Generation.
This collaborative approach to product development ensures that Uber Freight solutions are tailored to meet real-world logistics challenges and deliver exceptional value well into the future.
Learn more about Uber Freight here.Learn more about the Uber Freight TMS here.Learn more about Insights AI here.Learn more about Uber Freight Exchange here.Learn more about the Uber Freight Design Partner Program here.
ABOUT UBER FREIGHT
Uber Freight is a market-leading enterprise technology company powering intelligent logistics. With a suite of end-to-end logistics applications, managed services and an expansive carrier network, Uber Freight advances supply chains and moves the world's goods. Today, the company manages nearly $20B of freight and one of the largest networks of carriers. It is backed by best-in-class investors and provides services for 1 in 3 Fortune 500 companies, including Del Monte Foods, Nestle, Anheuser-Busch InBev, and more. For more, visit www.uberfreight.com.
For media inquiries, please contact: Sam Hallock, Corporate Communications at Uber Freight, [email protected].
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/071c532a-92f5-46ca-9525-ce25ca53f801
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