Cargo Breaking News
To bring transparency and cost efficiency to the logistics industry, LogisticsNow has launched ‘LoRRI Benchmark’ – India’s first benchmark for contracted freight for the road transport industry, which will enable democratisation of the logistics industry with a focus on full truck load (FTL) freight for medium and long haul lanes. The platform was designed after observing an industry need for freight benchmarking focused on contracted freight, which could help create win-win outcomes for manufacturers and Logistics Service Providers (LSPs)/Transporters and enable competitiveness of an ‘Atmanirbhar Bharat’.
LoRRI Benchmark connects the nation with 20,000 routes, 80+ truck-types, and 650+ transporters, spanning 10,000+ crore of freight spend. It aims to provide the range of freight costs at which one can connect a district, taluka or city across India, identifying truck-types and transporters at competitive costs for 600+ districts. It also enables manufacturers and transporters to interact and close the transaction online, serving not only the large manufacturers but also the food and agri sector.
Announcing the launch, Raj Saxena, Founder & CEO, LogisticsNow, says, “Transportation is gradually getting organised and LoRRI Benchmark seeks to support the next phase of organised and efficient transportation. As the government builds the hard infrastructure, the highways, national waterways etc., LoRRI Benchmark will work to create the soft infrastructure, the commercial information and intelligence layer to connect and make seamless logistics happen”
Benefits to manufacturers & government:
• National Reach: 600 districts of India and growing
• Readily accessible information for contracted freight rates, online
• Single secure and trusted platform pan India
Benefits to transporters:
• Neutral trusted platform
• Data driven Business development channel to acquire new customers and enable efficiencies through return loads / backhauls
• Build brand recall and brand reputation
