KNNX Freight provides control and actions via real time connectivity to drive major savings!

Last month marked my second anniversary here at KNNX Corp and our accelerating momentum just continues to grow on a daily basis!

Being a simple logistics professional, I always endeavor to always explain things in as simple terms as possible.

So although there's much advanced technology which supports our KNNX Freight solution, whether it be smart contracts, shared ledger or predictive analytics, the straight forward title above clearly captures what KNNX Freight can ultimately deliver to you and your business.

CONTROL! ACTION! SAVINGS!

Let's talk through each of these now!

CONTROL

Let's face it, traditional freight management methods and systems don't afford Shippers much control of the transportation process as it happens.

Old school contracts are signed. Shipments are tendered. Product picked up and delivered. Two plus weeks or later you get an invoice from the Carrier which your team must then verify if correct or incorrect before paying. Then much later most are sent for a costly Post Audit.

Real Time Freight Invoicing is an entirely new method of managing your shipments on a real time basis right from when you tender the shipment until proof of delivery.

Control starts with the creation of a Smart Freight Contract which contains all rate and accessorial information between Shipper and Carrier that is digitally signed by both parties.

Then as each Tender/Bill of Lading issued, KNNX Freight automatically creates a proforma invoice based on all the known information even before product is shipped.

This proforma invoice is shared by both Shipper and Carrier, with any accessorial updates during shipment captured, rated against Smart Freight Contract and added to invoice.

Finally, as soon as Proof of Delivery (POD) complete, often via IoT geofence, the invoice is now completely up to date, accurate, approved and ready for payment!

ACTION

In addition to the pinpoint shipment CONTROL provided by KNNX Freight, there's also a number of ACTIONS which can be automatically triggered by the platform based on your embedded business rules.

Monitoring - Any supply chain output sensor or system driven can be captured, tracked and actioned as appropriate. Examples of these include IoT of all types, Vehicle ELDs, Temperature Sensors, AI Cameras for OTIF/Claims tracking, Shock or other devices with data of value. Additionally, any directly correlated data such as service level confirmation, carbon monitoring or other supply chain output can also be captured and recorded for reporting purposes.

Notifications - In addition to capturing the above mentioned sensor / systems data. Automated notifications can be generated by the platform to communicate with users and/or systems based on data collected in real time. Examples include Load Temperature Alerts with escalating time event driven email communications for both Cold and Hot loads. Dock closures resulting in need to reschedule appointments and even alerting Store Managers of drivers waiting at stores where Wait Time charges will be charged to store if door not opened.

Mitigation - Based on the information identified above, specific mitigation rules can easily be identified and automated to quickly address and resolve any of the identified supply chain issues based on business rules specified.

Rapid action to address supply chain challenges is critical and KNNX supports these needs.

SAVINGS

There are many types of SAVINGS driven by KNNX Freight as you can imagine based on the above CONTROL and ACTION capabilities.

As a quick rule of thumb, we can help companies deliver between 5% and 15% of their total annual freight spend at a cost roughly 10% of the savings generated.

One of the best proof points is the success that Walmart Canada has had through implementing this technology over the last four years saving roughly $30 Million annually or 5.5% of total freight spend as highlighted in the below graphic.

Three major buckets contribute to the SAVINGS potential from Real Time Freight Invoicing.

KNNX Freight offers solutions for Truck (TL & LTL), Ecommerce Parcel and also Crowdsource Delivery Partners like DoorDash, Uber and others so depending on your freight mix the percentage of your total freight savings will fall at different points within the 5% to 15% range.

Have been in the logistics business for over 40 years and have NEVER seen a solution like KNNX Freight so would ask all to suspend their disbelief or past freight audit experiences until they actually see and understand what this completely new solution is all about.

So if like I was in my past roles you're always looking to deliver major expense reductions, you're currently reading about one such method of quickly and cost effectively achieving this.

In the end the formula for accomplishing this is simple: CONTROL + ACTIONS = SAVINGS!

Cheers

Jeff Ashcroft

Ready to learn more and calculate how much you can save from this formula? Feel free to reach out! Cheers JA

416.990.6433

[email protected]

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