MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and commercial fleet management solutions, announces the availability of RyderShareTM, its one-of-a-kind collaborative logistics platform. Eliminating long-standing industry silos, RyderShare enables everyone involved in moving goods through supply chains – including shippers, receivers, carriers, and service providers – to work together in real time to prevent costly delays and find efficiency gains.
“We can solve in minutes what previously took hours, days, and weeks to course-correct,” says Steve Sensing, president of global supply chain solutions for Ryder. “Now, more than ever, there is a greater sense of urgency for real-time visibility in the supply chain and the tools that enable all parties involved to work together to ensure the on-time delivery of the goods we rely on every day. RyderShare delivers these capabilities, as well as the analytics and insights to optimize networks – all delivered by logistics professionals with the experience to make meaningful changes.”
Breaking Down Silos
Historically slow to change, the logistics industry has relied heavily on phone calls, emails, spreadsheets, and disparate transportation and inventory systems, all managed by disconnected operating teams. This isolates information and access and, ultimately, restricts visibility.
RyderShare takes the opposite approach. It’s the first of its kind to integrate these silos of information and enable collaboration across the supply chain in real time. Leveraging the groundbreaking cloud-based technology Turvo, an industry leading collaborative logistics platform, and Ryder’s 87 years of operational and implementation expertise, RyderShare integrates the data from multiple transportation and warehouse management systems into a single, synergistic platform, which allows all parties involved in a supply chain to easily see potential problems and inefficiencies and take real-time action to course correct.
Real-Time Results
Still in the early stages of rollout, 18 customers and 90 customer locations, representing globally recognized brands across industry sectors, are already realizing significant results.
- Increased Productivity – Customers that rely heavily on service call centers have realized a substantial reduction in emails and phone calls and report increased productivity of up to 50%.
- Efficient Labor Planning – Customers report approximately 35% labor efficiency savings with improved ability to more effectively plan for receiving dock labor.
- Improved On-time Performance – Utilizing RyderShare, one customer recognized an improved on-time performance rating of 99%, up from 95%.
- Instant Revenue Recognition – Through RyderShare’s document capture, customers have realized immediate revenue recognition with real-time proof of delivery, eliminating previous delays of up to five days.
“RyderShare has been a game changer for us,” says Tim Miller, vice president of logistics for Do it Best, a member-owned hardware, lumber, and building materials cooperative based in Fort Wayne, Ind. “Tracking and tracing loads that used to take hours of phone calls and emails now takes minutes, and that enables our member-owned stores to better plan for on-time deliveries and for our teams to more efficiently manage their time. The Ryder team continues to add value to our organization, and RyderShare takes that to a new level.”
Forging the Future of Logistics
“RyderShare will radically change the way the logistics industry does business,” says Karen Jones, chief marketing officer and head of new product development for Ryder. “We cannot continue to operate in silos, not given the seismic disruption the industry is facing. A supply chain is not one company but a network of companies working together to procure materials, transform them into finished products, and speed them to market. That means, in order to quickly identify and address issues in the supply chain proactively, rather than reactively, we must have real-time connectivity, transparency, and collaboration with all parties involved.”
Insights & Analytics
In addition to the visibility and collaboration platform, RyderShare incorporates best-in-class business intelligence tools combined with a proprietary analytics solution, backed by a team of data scientists that apply predictive machine learning across supply chains. These insights and analytics inform future decisions, prepare supply chains for unexpected events, and speed recovery from disruptions – all of which lead to improved resiliency.
RyderShare also features exclusive content from FTR, the leader in freight transportation intelligence, and users receive the subscription benefit of data-driven market insights across all transportation modes and industry verticals, as well as key trends and forecasts. “From business intelligence and analytics, to visibility and collaboration, to the Ryder professionals who have the expertise to affect real change, RyderShare turns the supply chain into a competitive advantage,” adds Jones.
For customer facing and enabling technologies, Ryder has a run rate of approximately $120 million a year in spend. This investment allows the company to remain competitive with its offerings and respond to disruption in the industry. RyderShare and its development are part of that ongoing annual investment.
About Ryder System, Inc.
Ryder is a leading supply chain, dedicated transportation, and commercial fleet management solutions company. The company’s stock (NYSE: R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400® index. Ryder, which provides commercial truck rental, truck leasing, used trucks for sale, and last mile delivery services, has been named among “The World’s Most Admired Companies” by Fortune, as well as one of “America’s Best Employers” and “America’s Best Employers for Women” by Forbes. The company is regularly recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, world-class safety and security programs, and hiring of military veterans. For more information, visit www.ryder.com or our newsroom, and follow us on Facebook, LinkedIn, and Twitter.
About Our RyderShare Partners
For more information about our partners in RyderShareTM, click on the following links for Turvo and FTR.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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