Cargo Auction Solution for a Logistics and Transportation Company
Through collaboration with a top-tier logistics firm, we have designed and implemented an advanced auction platform to facilitate the allocation of cargo. Our solution enhances the bidding process by automating cargo allocation to carriers that initially accept the price and providing percentage-based bidding analogous to handling physical cargo. This advanced technology fuels competitive bidding on shipments and maximizes efficiency for our partner, contributing to significant cost savings.
Industry:
Transportation and Logistics
Services:
Cloud / DevOps, Internet of Things, Mobile Development, Software Testing
Location:
Georgia, US
Challenge
The whole cargo auction process was a multi-stage process based on comprehensive interactions between end-users. We digitized the process and ensured that critical functions such as offers, orders, and cancellations worked without any interruptions and improved accessibility for all users thanks to the web and mobile software solutions.
Web-based bidding process: Integrating a real-time bidding feature into business processes is no easy task. With the need to ensure security, transparency, and simultaneous bid management, a multifaceted tech solution is called for.
Efficient and secure bid processing: Our software development expertise brought unparalleled optimization to the processing and validation of bids. In developing a scalable solution, we prioritized data integrity, accuracy, and diverse client compatibility.
Dynamic determination of winning bids: Developing an exceptional cargo auction tool was a technical challenge. It required incorporating intricate variables for determining cost-effectiveness and generating high-quality results without sacrificing efficiency.
Solution
We have developed an auction system for cargo, allowing carriers to select and bid on available shipments. This solution assigns cargo automatically to carriers who agree to the initial price and introduce price-based bidding. The development process is still in process, with more features like simulating a delayed allocation process to mimic physical cargo handling yet to come.
The software solution that we delivered is designed to simplify the cargo allocation process, allowing the automatic assignment of cargo to carriers who agree to the initial price.
Web-based bidding system
In order to successfully manage a high volume of traffic and ensure security and transparency for buyers and sellers, we implemented a robust web-based bidding system during the development of our custom cargo-auction system. This cutting-edge solution enables multiple simultaneous bids, real-time bidding, and strict tracking controls for all transactions.
This platform was designed with advanced features to manage high volumes of traffic and multiple simultaneous bids. It incorporates industry-leading security protocols and transaction encryption to ensure transparency and safety for all parties involved in the bidding process. Our system enables buyers to place bids on specific cargo lots and receive real-time notifications on the status of their bids.
Automated bid processing and validation
We developed an automated bid processing and validation system that drastically reduces errors and optimizes workflow, giving you a competitive edge in the cargo-auction marketplace. Our solution is designed to handle concurrent bids seamlessly, even across different clients with varying data structures. By eliminating manual validation and processing, the system can automatically process bids and enhance the overall efficiency of the system while speeding up the cargo allocation process.
Determination of winning bids
To determine the most cost-effective bids for the custom cargo-auction system, we implemented a powerful algorithm that takes into account a range of data points. These include transportation distances, cargo weight, and delivery timeframes, as well as each bidder's previous success rate and overall reliability. By analyzing and weighing this information, the system is capable of quickly identifying winning bids that lead to a more efficient and cost-effective allocation process.
Technologies Used
We built this cargo solution using an advanced technology stack that incorporates the latest software and hardware technologies. This stack was designed to support our cutting-edge bidding platform and enable efficient and secure processing of bids, dynamic determination of winning bids, and seamless interaction between end-users.
The workflow
Planning and gathering requirements
Defining design components
Prototype development
Software solution development
Testing
Releasing the product
About the team
We carefully reviewed the initial requirements and gathered a team of experienced professionals to design and develop a unique cargo auction system that meets the needs of our partner.
Team composition
PM
1
React Native Engineer
2
UX/ UI Designer
1
Full-Stack Engineer
5
Manual QA Engineer
1
Impact
Thanks to our partnership, the partner has successfully modernized their cargo allocation processes and significantly improved their workflows. Our advanced cargo auction system lessened the turnaround time needed to assign shipments, allowing for more streamlined and efficient operations that led to a cost-effective allocation process.
Our approach is centered on crafting a sustainable and flexible solution that can adapt to different industries and company requirements.
Reviews
Working with Techstack Ltd has been wonderful; we now have a true development partner that’s an integral part of our company.