Transmetrics offers a new approach to solving inefficient capacity utilization problem in cargo transport industry using Big Data and predictive analytics. What we have designed is a system that allows cargo companies to forecast with high accuracy their fluctuating volumes, and find the most optimized way to utilize their own or 3rd party capacity based on the forecast and our optimization module. This can lead to significant cost savings, such as decrease in fuel, maintenance and 3rd party capacity costs.
There are also huge societal benefits. Improved capacity utilization cuts the total number of required vehicles, leading to a reduction in carbon emissions and in freight shipment prices. In case of road freight, cutting the number of trucks on the road results in less traffic congestions.
How It All Started
The idea of Transmetrics solution was drafted in 2012 during one of the transport conferences. At the time, Asparuh and Anna were working as consultants for the largest companies in the cargo industry. In most of the companies they’ve worked with there was an issue of inefficient capacity utilization, so Asparuh decided to do something about it. Having a solution in mind, he tested it out during one of the consultancy projects, and it was a success. It was decided to spin the solution off into a separate company.
In 2013, with the help of Alex and Rado, the other two co-founders of Transmetrics, the idea was transformed into a product. All of the founders complemented each other: Asparuh was a successful serial entrepreneur who knew the logistics market. Anna was a strong saleswoman and networker. Rado was a strong programmer and a development team lead, while Alex had an extensive experience working with data-driven IT applications for different industries including cargo transport.
Since 2013 Transmetrics has grown from 4 co-founders to a team of 19 highly skilled part- and full-time employees, received many international awards, including Forbes Business Awards, and signed the contract with its first official customer, a DPD-network partner, in 2015. Currently, the team is working with several other world-known cargo companies.
Among the things we learned about predictive analytics is that it is very industry specific. You can’t take the knowledge, for example, in finance, and apply it directly to logistics. Currently, predictive analytics for the cargo transport industry is an under-researched field, and we are the first ones to tackle it. We are creating a unique approach for analyzing, modeling and predicting transport flows with a very high accuracy, which doesn’t exist anywhere else.
The success of this unique approach requires a rare combination of knowledge in multiple disciplines, and that is why our customers find it hard to develop a similar solution themselves. Our advantage comes from having a strong experience in both the technical (big data & predictive analytics) and domain (transport & logistics) areas. In addition, our Board of Directors and Advisory Board consist of the current and former professionals from the logistics companies, such as DHL, TNT Aviation, a.hartrodt, Hellmann Worldwide Logistics, who are helping us every step of the way.