Optimal Dynamics Releases Bid Solution to Recommend the Best Contracted Lanes and Volumes for Truckload Carriers
NEW YORK, August 30, 2023 (Newswire.com) - Optimal Dynamics, the pioneer in artificial decision intelligence for truckload operations, announced today the release of Bid by Optimal Dynamics™, an RFP response solution that recommends the optimal lanes and volumes for truckload carriers to bid on during the bidding process. The company is making the solution generally available after testing with select customers over the past year.
Unlike traditional bidding solutions, Bid by Optimal Dynamics™ uses artificial decision intelligence to simulate a carrier's network after the impact of the bid, thereby highlighting the optimal lanes and volumes that best fit the carrier's unique network and business objectives. With customizable lane scoring and deep insights driving each recommendation, carriers are armed with the knowledge they need to confidently bid on lanes that are the most impactful to their business.
"Understanding how additional lanes and volume will fit within your current capacity constraints and commitments is critical to bidding most effectively," said Gillan Hawkes, Chief Product Officer of Optimal Dynamics. "What we saw missing in the market was a need to go beyond simply pricing and procedural solutions, and move toward a holistic bid response solution that can recommend the best bids based on the impact that new business will have on your overall network. And a fully digitized platform to streamline and accelerate the overall bid response process."
Through its proprietary Lane Scoring system, Optimal Dynamics' customers are able to tune the underlying optimization algorithms to weigh new bids according to the business objectives that they prioritize.
"Being able to identify the lanes that you should bid most aggressively on, quickly, at scale and across an unlimited number of customers and bids, truly democratizes the procurement of contracted freight in an intelligent, repeatable fashion," said Daniel Powell, CEO and Co-Founder of Optimal Dynamics. "Our Bid solution allows any carrier, trying to build or improve their contracted freight business, to streamline a highly cumbersome process, strategically fill gaps in their freight network, and transform their businesses through contracted freight. We are in the early innings of deploying AI to the truckload market and are super excited to see where we can take Bid by Optimal Dynamics™ in the future."
Bid by Optimal Dynamics™ is available as a standalone SaaS solution or as part of the complete Optimal Dynamics platform. For more information, visit http://www.optimaldynamics.com/product/bid.
Source: Optimal Dynamics, Inc.