I2 Technologies Launches Online Freight Marketplace
February 29, 2000
I2 Technologies, Inc. has announced FreightMatrix, an Internet-based business-to-business freight marketplace.
Expected to be operational in the second quarter, the site is intended to offer shippers, carriers, and logistics providers the needed services to buy and sell transportation more efficiently, plan their cargo requirements, and execute the delivery of shipments.
Ryder System, Inc. has signed an agreement to serve as the anchor third-party logistics provider and Central Transportation International plans to serve as the anchor less-than-truckload carrier for FreightMatrix.
Powered by i2's TradeMatrix platform, the site will give participants access to the combined transportation demands generated in other TradeMatrix marketplaces and will serve as a one-stop logistics services source for all shippers participating in industry-specific TradeMatrix marketplaces such as HightechMatrix.
Ryder plans to leverage its volume purchasing of contract transportation as well as its dedicated fleet assets to provide transportation capacity to FreightMatrix participants. Ryder also intends to leverage the FreightMatrix marketplace services to provide new value-added services for its customers.
Central Transport International hopes expand its customer base, improve customer service, increase equipment utilization, and automate workflows through the relationship.