Redwood’s Rating API uses algorithmic load matching to provide Oracle Fusion Cloud Transportation Management users with on-demand pricing and guaranteed capacity to help navigate unpredictable market conditions
Redwood Logistics (Redwood), one of the fastest-growing supply chain and logistics companies in North America and a member of Oracle PartnerNetwork (OPN), today announced that it is enhancing a long-standing relationship with Oracle by integrating the recently-launched Rating API with Oracle Fusion Cloud Transportation Management (OTM). The new integration will provide OTM users with instant rates, robust capacity and 100% tender acceptance.
Redwood’s Rating API is built on top of a proprietary machine-learning pricing module that uses algorithmic load matching to provide customers with market-responsive pricing and one-click booking using a real-time API connection. Redwood’s Rating API integrates directly into existing transportation management systems (TMS) or any other logistics application.
“Our Rating API solution will enable any customer in the vast Oracle Transportation Management network to obtain guaranteed capacity on automatically priced loads and tender shipments instantly with no human interaction,” said Michael Reed, Chief Product Officer, Redwood Logistics. “As an industry-leading, multi-modal brokerage with a long-standing Oracle relationship, Redwood can provide unique solution approaches, such as our RedwoodConnect™ platform, which offers rapid implementation times and seamless integration into OTM, enabling customers to attain unprecedented savings and reliable capacity.”
The Rating API offering adds another asset to Redwood’s integrated LPaaS (Logistics Platform as a Service), which connects its customers to the best industry solutions, services, people, and technology via RedwoodConnect™, a proprietary, turnkey supply chain integration platform-as-a-service (iPaaS) designed to streamline the most complex integration cases.
In 2019, Redwood acquired Eminent Global Logistics, a leading consultant and integrator for OTM, Oracle Fusion Cloud Global Trade Management (GTM), and Oracle Fusion Cloud Warehouse Management (WMS). Eminent’s rapid suite of integration solutions products for OTM and GTM implementations complements RedwoodConnect™ for easier implementation of both TMS offerings. These proprietary tools, combined with Redwood’s deep understanding of the freight markets, analytics capabilities and broad suite of services that help customers move their freight, have established Redwood as a leader in technical innovation in the constantly evolving transportation space.
“Integrating with Redwood’s Rating API will enable Oracle Transportation Management customers to successfully navigate the increased volatility across the freight transportation markets,” said Derek Gittoes, VP of SCM Product Strategy, Oracle. “Oracle continuously looks for innovative new tools that help our customers improve their transportation operations.”
Designed to support both shippers and logistics service providers (LSPs), Oracle Transportation Management provides a single platform for companies to manage all transportation activity throughout their supply chains. Combining ease of use with industry-leading capabilities, OTM reduces freight costs, optimizes service levels and automates processes to optimize logistics operations.
Backed by Redwood’s 20 years of supply chain experience, the Rating API connects customers to Redwood’s private network of over 20,000 carriers, enabling one-click access to thousands of carriers, delivering speed, security and scalability.