The new offering allows members of Chainalytics' Freight Market Intelligence Consortium (FMIC) to incorporate predictive analytics on freight markets and rate trends, directly into their off-the-shelf or internally developed transportation-management and planning systems. Available to shippers and third-party logistics providers that are members of FMIC, the technology offers an integrated view of the transportation market. As a result, said Chainalytics, companies can more effectively plan and execute their transportation-related decisions. Chainalytics formed the FMIC in 2003 to address the need for transportation-rate benchmarking. Today, the firm analyzes more than $19bn worth of annual freight spend to supply more than 110 member companies with rate benchmarks, best-practice research and predictive analytics. To facilitate the development of iFMI, Chainalytics partnered with a major provider of transportation-management system (TMS) software, as well as with a leading logistics service provider. Additional partners are expected later this year, the company said.
