In a recent highlight, Algorhythm Holdings, Inc. and its SemiCab platform received recognition from Forbes for addressing logistics inefficiencies related to food supply chains. The article titled “How an Airline Analogy Is Reframing the Cost of Food” highlights significant challenges in freight transport that contribute to rising food prices.
SemiCab’s Role in Addressing Freight Inefficiency
According to the Forbes article, nearly one-third of global freight miles are driven empty. This inefficiency leads to approximately 33% systemic waste in food distribution, similar to airlines conducting one out of three flights without passengers.
Insights from Algorhythm’s CEO
Algorhythm’s CEO, Gary Atkinson, emphasized the issue, noting that over one in three freight trucks worldwide operate empty after completing their deliveries. This inefficiency adds significant costs to transportation, ultimately affecting food prices for consumers.
Impact of Empty Miles on Costs
The logistics industry faces mounting pressure to enhance efficiency while navigating rising fuel, labor, and sustainability challenges. The article explained how these empty miles accrue various costs, including:
- Fuel expenses
- Labor costs
- Maintenance costs
- Environmental impacts
These costs contribute to food pricing, compounded by issues such as imbalanced freight flows and real-time routing complexities.
Innovative Solutions from SemiCab
SemiCab’s cloud-based Collaborative Transportation Platform is highlighted as a transformative solution for addressing inefficiencies in freight transport. Utilizing artificial intelligence, the platform optimizes freight logistics by treating transportation as a continuous network. This design enables it to predict and optimize millions of freight loads across a broad truck network.
Potential for Lower Food Prices
The Forbes article suggests that advanced logistics and distribution systems enabled by platforms like SemiCab could significantly reduce food prices for consumers globally. The technology helps shippers reduce costs while allowing carriers to maximize earnings, leading to a more efficient supply chain.
About Algorhythm Holdings
Algorhythm Holdings, Inc. is a leading AI technology company focused on the logistics and distribution industry. Since its inception in 2020, SemiCab has helped retailers, brands, and transportation providers tackle supply chain inefficiencies worldwide. By leveraging real-time data, SemiCab fosters collaboration among manufacturers, retailers, distributors, and carriers, enabling fully loaded round trips through its AI platform.
For further information on SemiCab’s solutions and technology advancements, visit El-Balad.
