Imaginnovate has introduced the Dynamic Pricing Engine, an AI tool that automates pricing for the transportation and logistics industry. It automates the pricing practices in an organization, driven by a blend of historical buying and selling patterns, aggregated market data and personalized pricing rules.
The tool establishes pricing ranges for logistics services based on variables such as demand, competition, lanes, equipment and types of transportation. The price range becomes the basis for final contract negotiations.
AI determines pricing, relying on external rate sources and historical pricing data. The pricing engine accounts for market variables, such as peak shipment days, delivery locations, holidays and fuel surcharges.
