Skip to content
Search AI Powered

Latest Stories

Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Vector.ai Rebrands as Raft, Signaling a Complete Forwarding Evolution

Raft matures from Vector.ai and broadens its product offering to become an intelligent freight forwarding platform, spurred by 200% revenue growth in 2022 and significant adoption with some of the leading forwarders in the world

Vector.ai Rebrands as Raft, Signaling a Complete Forwarding Evolution

Vector.ai today announced the company is rebranding under the name Raft.

Since 2017, when launched as Vector.ai, the company has designed, tested and delivered industry-leading AI to automate document processing for freight forwarders. While AI for automated document and email processing remains at the core of the company’s technology, the rebrand points towards the greater need for forwarders to have a single platform for their day-to-day workflow.


At current standing, Raft saves forwarders over an hour per shipment by automating arduous data translation tasks. As a result of the time savings and workforce productivity boost, leading international forwarders are also recognizing an average of $2.1 million saved per year through Raft. These time and bottom line savings further the company’s positioning as the operating system of choice for providers across the global supply chain.

“Raft’s purpose is to help forwarders optimize their whole shipment process, across the entire lifecycle,” said James Coombes, CEO of Raft. “Yes, we use the industry’s leading AI implementation in our platform, but we now provide much more capability on top of each shipment, like emissions visibility, which allows our forwarding and brokerage customers to provide ever-better service to their end customers on the back of the standardization we already provide. It’s a really powerful concept that has resonated with our customer base.

“Our global ambition is to understand every event of every shipment, to automate everything, and this rebrand — and the mindset that goes with it — is another step towards that mission.”

To celebrate the successful evolution from AI provider to intelligent platform for forwarding excellence, Raft has not only changed its name to a more suitable platform indicator, but also fully rebranded with a new design, logo and website. The complete overhaul matches Raft’s intentions with its execution.

“We realized pretty early on that the future of freight forwarding is human, we just needed to build the best technology to support them,” Coombes said. “So our goal was to create a new platform based on a new framework, one that combined operational best practices across our customer base with automation front and center, not just as an afterthought. ‍Today, we’re getting closer to realizing this ambition.”

Recent

More Stories

New Horizon Releases Innovative Functionality for Optimizing Inbound Logistics Scheduling at DCs

ACTON, Massachusetts – September 3, 2024 – New Horizon Soft, LLC, a global leader in AI-powered supply chain planning software, announced today the release of a new version of its Buyers Workbench procurement planning software. The latest version includes the ability to optimally schedule inbound deliveries, taking into account distribution center (DC) receiving capacity, thus minimizing receiving bottlenecks and lowering inbound logistics costs. A research paper describing the innovative methodology and its deployment at an iconic $10B+ U.S. quick-service restaurant chain was recently published in the peer-reviewed academic journal, the International Journal of Operations Research and Information Systems.

Supply chain organizations typically plan purchase orders without regard to DC receiving capacity. This leads to bottlenecks on some days and underutilized staff on others. New Horizon’s methodology, called Master Purchasing Receipt Scheduling (MPRS), uses a novel algorithm to automatically and optimally schedule deliveries. The algorithm plans deliveries at the time of purchase order creation and results in a steady volume of deliveries and lower planning and logistics costs. While first deployed at a restaurant chain, the methodology is applicable to any manufacturer, wholesaler, retailer, or foodservice company operating high-velocity DCs.

Keep ReadingShow less

Featured

Unlimited Service Group Launches New Repair and Maintenance Management Platform, USG Connect

Unlimited Service Group Launches New Repair and Maintenance Management Platform, USG Connect

ADDISON, Ill.--(BUSINESS WIRE)--Unlimited Service Group, a group of local foodservice equipment repair providers, today announced the launch of USG Connect, an innovative new repair and maintenance management platform designed to streamline and simplify the repair and maintenance of commercial kitchen equipment.

USG Connect provides commercial kitchens with a one-stop solution for hassle-free and scalable equipment service. The exclusive platform offers a user-friendly digital experience that allows restaurants, hospitals, hotels and more, to consolidate and manage their service requests into a single maintenance management system. No matter the size of the organization, USG Connect brings the power of 35+ trusted local service brands with more than 125 locations into a consistent service experience for our customers, ensuring seamless and effective management of all foodservice equipment service requests in one, easy-to-use online platform.

Keep ReadingShow less
Princeton TMX Adds Barge Capabilities to Multi-modal TMS

Princeton TMX Adds Barge Capabilities to Multi-modal TMS

August 28, 2024 (Fort Wayne, IN) – Princeton TMX, a leading multi-modal transportation management system (TMS) provider, today announced a strategic partnership with OpenTug, a marine logistics platform dedicated to enhancing freight efficiency on inland and coastal waterways by streamlining booking, quoting and tracking. Integrating OpenTug’s marine logistics capabilities into the Princeton TMX system lets shippers easily book and manage terminal, barge and vessel capacity within the platform.

Princeton TMX’s multi-modal TMS automates complex transactions by simplifying the entire transportation planning and execution process, providing shippers with better rates, better lanes and lower risk. Seamless integration with OpenTug’s digital tool, BargeOS, allows shippers to compare quotes, book capacity and track shipments for barge shipments the same way as over-the-road, rail and intermodal transport. This not only streamlines the transportation management processes but unlocks additional opportunities for operational and financial improvement by enabling shippers to manage their entire transportation operations in a single system.

Keep ReadingShow less
project44 Launches Emissions Monitoring To Improve Supply Chain Sustainability and Compliance

project44 Launches Emissions Monitoring To Improve Supply Chain Sustainability and Compliance

project44, the leader in supply chain visibility and the only High-Velocity Supply Chain Platform, today announced Emissions Monitoring, giving shippers, carriers and LSPs the Scope 3 emissions insights necessary for optimized sustainability decision-making. Emissions Monitoring offers customers precise, GLEC-accredited emissions calculations for shipments across all modes, empowering businesses to track and manage their carbon footprint effectively.

With project44's new sustainability solution available in the Movement by project44 platform, users can streamline their compliance with customizable reporting and reduce their environmental impact with accurate historical emissions data at the mode, shipment, carrier, and lane level. Users are also able to enhance customer satisfaction by measuring positively in ESG reports and delivering on their sustainability promises.

Keep ReadingShow less

Cold Storage Power Supply: BSLBATT forklift lithium batteries support refrigerated applications

Huizhou, China - BSL New Energy Technology Co., Ltd. (Brand: BSLBATT® ), an innovative high-tech company that designs and manufactures smart lithium-ion batteries (50% more efficient than similar products on the market) for industrial forklifts used in the warehousing and distribution industries, has partnered with PF, a major European cold storage customer, to launch the largest fleet of lithium-battery-powered Crown forklift in the cold storage industry, with a deployed capacity of approximately 6.6 megawatt-hours (MWh).

"Lithium-battery systems eliminate time-consuming and expensive maintenance and provide longer life at extreme temperatures, especially in cold environments. As the company converts all existing and future material handling equipment to lithium batteries, the fleet will run better, longer, and consume less power."

Keep ReadingShow less