Ryder System, Inc. announced the next evolution of its one-of-a-kind visibility and collaborative logistics technology RyderShare™. Initially focused on the transport of goods, RyderShare now includes a warehouse management solution for end-to-end visibility as goods move inbound on trucks to within the four walls of warehouses and distribution centers and, ultimately, outbound to their final destinations. The result is the only digital platform by a 3PL that provides real-time visibility, collaboration, and exception management throughout the end-to-end supply chain.
“Our customers are telling us that they haven’t seen anything else like this—that it’s the ultimate game-changer,” says Steve Sensing, president of global supply chain solutions for Ryder. “With this latest evolution of RyderShare, it truly is the first and only digital platform from a 3PL that provides a direct line of sight for goods moving through the supply chain—anywhere and anytime.”
Originally launched in May of 2020, RyderShare eliminates long-standing industry silos and enables everyone involved in moving goods through the supply chain—shippers, receivers, carriers, and service providers—to work together in real-time to prevent costly delays and find efficiency gains. To date, RyderShare has logged nearly six million shipments with customers realizing significant improvements in productivity, labor efficiency, on-time delivery performance, and instant revenue recognition.
Real-Time Results
Since the initial rollout, Ryder has been working closely with customers to extend RyderShare’s capabilities from the transport side of the business into the warehouse. Still in the early stages of warehouse implementation, customers representing globally recognized brands are already starting to realize significant results.
Improved organizational reaction time by 90% – Access to RyderShare and real-time order and inventory status eliminates the need for status requests in many cases and enables quicker organizational response times through self-service.
Labor efficiency savings up to 50% – More than half of the email churn between planning/inventory teams and warehouse management teams can be eliminated giving supply chain managers the ability to be proactive with orders.
Opportunity to increase sales by 5% – Account management teams with access to RyderShare can now confidently sell based on real-time inventory levels. Also reduces the need for safety stock.
“With inventory challenges impacting supply chains, one of the biggest benefits our customers are realizing is the power to track inbound stock in real-time, know with certainty when it hits the warehouse floor, exactly where it’s staged, and when it’s ready to move out,” says Karen Jones, chief marketing officer and head of new product development for Ryder. “Having the visibility of RyderShare inside the warehouse means our customers can better manage their inventory, easily communicate with their suppliers and customers, and have the ability to say, ‘I know this product is a big seller for you. We have some in stock right now. Should I add that to your order?’ That is a tremendous value.”
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.