BluJay launches Industry-first Freight Market Index
Unique set of transportation rate, capacity, and service KPI benchmarks provides intelligence to inform decisions for shippers and carriers
BluJay Solutions, a provider of supply chain software and services powered by the world’s first Global Trade Network, announces the launch of the Freight Market Index, a monthly report providing transportation market intelligence for shippers, carriers, and industry professionals.
The Freight Market Index (FMI) is comprised of an elaborate set of key performance indicators (KPIs) derived from the over $18 billion in annualized freight under management transacting within BluJay’s Global Trade Network. The FMI goes beyond other indices to provide intelligence, not only into key rate, capacity, service, and performance trends by lane, equipment, and other factors, but also further into quartiles within the individual metrics. BluJay’s powerful single-source dataset enables shippers, carriers, and other supply chain experts to understand how performance compares relative to industry standards. This data can be used to understand opportunities or trade-offs between cost and service to drive decisions for business value.
“We are enabling both shippers and carriers to benchmark their performance in ways that were not previously possible, to support identifying potential risks or opportunities for their business. Our single instance, multi-tenant Transportation Management platform generates a significant amount of data. For the first time, our team has harnessed this data to begin answering questions that many – myself included – have been seeking insights into throughout a career in supply chain,” said Bill Madden, Vice President, Logistics as a Service at BluJay Solutions. “About one in 50 trucks of domestic over-the-road freight transacts through BluJay’s TMS. We have successfully translated this data into usable formats to provide context, trends, and insight that both operators and executives can use to drive decisions specific to their roles within a business.”
BluJay’s Freight Market Index contains real-time data published monthly, with a trailing 36-month view of the quartiled metrics. Independent expert commentary is included on a quarterly basis. The annual subscription is offered at an introductory price for a limited time, with bundle pricing available for other BluData solutions.