Digital logistics platform, FarEye, has announced the launch of its AI-based real-time dynamic routing feature to empower on-time and cost-effective deliveries which will majorly impact the hyperlocal and grocery delivery industry that demands quick turn-around-time. FarEye helps shippers to reduce costs, improve service and drive innovation.
The technology empowers businesses to minimize empty mile journeys, eliminate vehicle idling time and optimize the productivity of delivery executives by assigning them highly efficient routes.
Inefficient route mapping, inability to deliver on time, poor productivity, increasing delivery costs, empty mile journeys, vehicle idling, and poor visibility has been weighing down the supply chain and logistics operations for a long time. FarEye’s real-time dynamic routing capabilities help enterprises by automatically dispatching on-demand orders. The orders are assigned based on capacity, driver proximity and service time constraints. It also ensures that ad-hoc delivery requirements and cancellations are met while keeping costs, SLAs and ETAs intact.
A key area where FarEye’s real-time dynamic routing makes a difference is fleet utilization. FarEye’s engine addresses the most exhaustive constraints that disrupt transportation operations. Some of these include driver-route mapping, pickup windows, delivery windows, no-entry time windows, tonnage, empty miles cost, running and waiting costs, etc. FarEye helped the world’s largest pizza delivery chain to reduce delivery time by 27% and enabled the biggest logistics company to increase courier productivity by 15%.
“The food delivery market is on an exponential rise, with more than 2 million transactions made in a day in India alone. Globally, the online food delivery market is expected to reach US$ 112 Billion by 2023. In such a high growing landscape, businesses need real-time insights on routes, fleet productivity and ability to make changes on the go. Dynamic routing capabilities enable businesses to get more competitive by empowering them to deliver delightful customer experiences and boost profitability,” Kushal Nahata, CEO & Co-founder, FarEye.
FarEye is one of India’s fastest growing start-ups with a 280% increase in ARR year on year. Clocking triple-digit revenue growth since the past 3 years, FarEye is now targeting a 325% growth in revenue this fiscal. FarEye facilitates over 65 million transactions per day, enabling more than 150 enterprises across 20+ countries.
Key Benefits of FarEye’s Real-Time Dynamic Routing
- Increased visibility
- Reduce Empty miles and boost fleet productivity
- Optimize capacity utilization
- Ensure profitability per order
- Increase in on time deliveries and accurate ETAs
- Insights into route wise performance
- Greater delivery scalability