Banyan CEO Shares How Cutting-Edge Visibility Solutions
are Transforming the Supply Chain
From Journal of Commerce (January 2025):
Brian Smith
CEO
Banyan Technology
Visibility has come a long way from the simple question of “Where’s my truck?” or “Where’s my shipment?” In today’s market, businesses demand full transparency across every step of their freight execution process, from vetting carriers and tracking shipment movement in real time to managing documentation and leveraging data to augment decision-making.
As the market continues to fluctuate, consolidation and shuttering of trusted carriers has created a critical need for transparency well into the process of choosing which carrier to trust with your shipments. Understanding which carriers to use for various types of shipments, routes, delivery time frames and even verification of accessorials has increased the need for full-circle transparency.
Fortunately, data is available to help shippers make informed decisions about the carriers they choose. Having access to historical data and business intelligence via system dashboards for carrier performance, carrier cost and other critical selection factors increases the likelihood that freight is handled by a provider with the appropriate mode, capabilities and qualifications minimizing the risk of delays, damage or mishandling.
Beyond carrier selection for timely delivery, it’s no surprise that real-time in-transit shipment tracking is becoming increasingly in demand. Many customers are requiring real-time tracking to manage their own supply chains and minimize inventories as businesses deal with increased costs and ongoing labor challenges. Real-time tracking provides visibility into precise delivery times and routes, allowing businesses to anticipate and react to any potential delays in their shipments and maintain optimal levels of inventory.
Additional requirements for visibility beyond the physical movement of goods include document management and financial reporting, which make accessing contracts to review carrier agreements, rate quotes and shipment details easier, ensuring businesses avoid billing discrepancies or payment errors to better manage costs.
Finally, having visibility into historical and real-time shipping data provides businesses with the insight they need to better manage costs and meet growing customer demands. With this enhanced visibility comes greater predictability. In the end, having the right carriers, correct shipment details and manageable costs to make informed shipping decisions is essential for maintaining efficient operations.
About Banyan Technology
Banyan Technology, the leading provider of over-the-road (OTR) shipping software, delivers enterprise-level, end-to-end freight execution solutions. Our patented LIVE Connect® platform serves as your primary transportation management system (TMS) or API connectivity that supports your existing systems. Banyan’s solution provides a comprehensive suite of AI and BI tools that help automate manual shipping processes and identify cost-saving opportunities through multi-mode rate comparison. To learn more, visit www.banyantechnology.com or connect with us on LinkedIn, Facebook, and Twitter.