AboutStarting Semester: Spring 2023
Nolan Transporation Group
Client ProfileTransportation Insight Holding Company (TI) is the combination of industry-leading logistics providers Transportation Insight and Nolan Transportation Group (NTG). TI brings over two decades of multi-modal expertise and technology to the logistics industry and ranks amongst North America’s top logistics companies. TI services more than 14,000 shippers and over 80,000 carriers through its proprietary Beon™ digital logistics platform – a single point of access to TI’s mode-agnostic network and services from port-to-porch. The TI services and digital product portfolio spans across North America, offering domestic freight and parcel transportation solutions, warehousing, data intelligence, and supply chain consulting.
Project DescriptionNTG has various avenues for acquiring shipments to be executed through the brokerage The Bid Bot, a system of Python scripts that automatically places bids on customer auctions within Transportation Management System (TMS) portals, wins around 1,000 shipments per week and is responsible for $80MM of annual revenue for the company.
There are many settings in place to adjust the rate offered to the customer: increasing/decreasing expected cost, increasing/decreasing customer margin expectations, etc., as well as settings for whether or not to place a bid on a certain auction. The Bid Bot Team adjusts all these settings on a weekly to daily basis based on current top-down initiatives.
We are looking for a proposal on how to manage these settings by analyzing current state error and missed opportunity in an effort to optimize our system inputs/outputs.
Our main objectives:
· Maximize volume won via the Bid Bot
· Maintain a desired gross margin within a level of confidence threshold
· Improve the efficiency in decision making on adjustments needed for optimal results