Chainalytics Freight Market Intelligence data to seamlessly integrate into LoadDex, Logistical Labs’ cloud-based pricing platform, for mutual customers
Chainalytics, a recognized global leader in market intelligence, analytics, and supply chain consulting, and Logistical Labs, a cloud-based software provider, today announced a partnership to integrate Chainalytics’ proprietary Freight Market Intelligence Consortium (FMIC) truckload data for 3PLs and Brokers with Logistical Labs’ pricing platform, LoadDex, to benefit their mutual North American customers.
Using data collected from dozens of 3PLs and freight brokers, consortium members use the Chainalytics Freight Market Intelligence Consortium (FMIC) truckload data to maximize the value for their customers throughout all business cycles. Chainalytics’ FMIC provides time-sensitive freight market intelligence, benchmarking, and comparative trend analysis to its 3PL and freight broker consortium members through an integrated and secure platform, enabling visibility to truckload price trends, lane reports, and unlimited information at the load-by-load level.
Logistical Labs’ LoadDex takes a similar data-driven approach, which aggregates pricing information for any given route and empowers users to make strategic decisions about pricing and mode selection. LoadDex users can analyze multiple years of data – thousands of data points from disparate systems – in less than two seconds to find the most efficient and cost-effective option. Developed in partnership with a leading Chicago-based economist, LoadDex uses an algorithm that collects relevant historical, social, and external pricing data through interactive tools to quickly compare and accurately track rates.
“This partnership provides subscribers of the LoadDex platform integrated access to Chainalytics’ market data intelligence in real-time, significantly enhancing market awareness and pricing trends,” said Chris Ricciardi, Chief Product Officer of Logistical Labs. “Both firms strive to advance freight market competencies for our clients through increased efficiency and better data, so creating connectivity between our products just seemed to make sense.”
“Chainalytics is very excited about facilitating insights and enhancing market-focused competencies through the LoadDex platform,” said Matthew Harding, Principal of Freight Market Intelligence at Chainalytics. “Brokers and 3PLs only win for their customers when they can make the best-informed decisions, matching supply with demand. Our integrated solutions are a solid foundation to support detailed inquiries on market dynamics and pricing trends.”