AI Carrier Price Negotiation Tool
Streamline Processes with an AI Carrier Price Negotiation Assistant
What is it?
The AI assistant is a custom built solution that helps reduce critical labor associated with carrier availability interactions and rate negotiations that happen via calls or emails. It uses natural language processing to facilitate the conversations utilizing the latest AI cognitive recognition technologies. The tools is useful for logistics companies that offer brokerage service (3PL).
How Does it Work?
1. Initiation: The AI assistant initiates conversations via email or voice calls with multiple carriers in real time and checks their availability by providing shipment details.
2. Filtering: The logic for carrier selection and prioritization can be customized. For example, the AI assistant can reach out to approved carriers only, or preferred carriers that service specific lanes based on historical data.
3. Negotiation: Once the availability is confirmed by a carrier, the AI assistant asks for a quote and compares it against DAT, as well as the company’s historical data. Min/Max and average values are assigned, and the assistant attempts to bring down the price within the assigned values. Human intervention can be triggered at any time or if the negotiated price is within a certain range (e.g. higher than the average or Max).
4. Wrap up: The assistant can confirm the carrier contact info (and MC/DOT#) and shipment details, and either completes the call or passes it to a human for finalization.
5. Security: Guardrails are put in place to ensure the AI assistant operates within assigned constraints. All data used to train the model is proprietary to the organization
2. Filtering: The logic for carrier selection and prioritization can be customized. For example, the AI assistant can reach out to approved carriers only, or preferred carriers that service specific lanes based on historical data.
3. Negotiation: Once the availability is confirmed by a carrier, the AI assistant asks for a quote and compares it against DAT, as well as the company’s historical data. Min/Max and average values are assigned, and the assistant attempts to bring down the price within the assigned values. Human intervention can be triggered at any time or if the negotiated price is within a certain range (e.g. higher than the average or Max).
4. Wrap up: The assistant can confirm the carrier contact info (and MC/DOT#) and shipment details, and either completes the call or passes it to a human for finalization.
5. Security: Guardrails are put in place to ensure the AI assistant operates within assigned constraints. All data used to train the model is proprietary to the organization
Benefits
Automation
The assistant reduces the amount of manual time spent on transactional activities, so your team can focus on other productive tasks.
Accuracy
The models utilizemultiple data points and marketinsights such as DAT, historical data, and preferred carrier data.
Scalability
The AI assistant can be scaled up to support any growth. It can simultaneously handle hundreds of calls and thousands of email exchanges, 24/7.
No license fees
The solution is custom built for your organization and you own the intellectual property of any data related to it.
Vitrin9 is a technology company with a passion for building products, audacious
ideas, and using data to unlock hidden value for customers.
ideas, and using data to unlock hidden value for customers.
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