Ryder Reveals Next Generation of RyderShare™—Driving Real-Time Visibility & Collaboration into the Warehouse

Rhea-AI Summary

Ryder System, Inc. (NYSE: R) has launched an evolved version of its RyderShare™ technology platform, enhancing visibility and collaboration across the supply chain. This unique platform now includes warehouse management capabilities, allowing real-time tracking of goods from transportation to storage. By eliminating industry silos, RyderShare has facilitated nearly six million shipments, improving productivity, labor efficiency, and on-time delivery. Customers have reported up to 90% faster organizational response times and significant savings in labor efficiency, while having the opportunity to boost sales by up to 5% through access to real-time inventory data.

Positive

• Improved organizational reaction time by 90% due to real-time order and inventory access.
• Labor efficiency savings of up to 50%, reducing email communication and enhancing proactive order management.
• Opportunity to increase sales by 5% through real-time inventory visibility.

Negative

• None.

With unparalleled views inside and outside the warehouse, Ryder is the only 3PL offering a technology platform with real-time visibility, collaboration, and exception management across the end-to-end supply chain

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces the next evolution of its one-of-a-kind visibility and collaborative logistics technology RyderShare™. Initially focused on the transport of goods, RyderShare now includes a warehouse management solution for end-to-end visibility as goods move inbound on trucks to within the four walls of warehouses and distribution centers and, ultimately, outbound to their final destinations. The result is the only digital platform by a 3PL that provides real-time visibility, collaboration, and exception management throughout the end-to-end supply chain.

With unparalleled views inside and outside the warehouse, Ryder is the only 3PL offering a technology platform with real-time visibility, collaboration, and exception management across the end-to-end supply chain. (Photo: Business Wire)

“Our customers are telling us that they haven’t seen anything else like this—that it’s the ultimate game-changer,” says Steve Sensing, president of global supply chain solutions for Ryder. “With this latest evolution of RyderShare, it truly is the first and only digital platform from a 3PL that provides a direct line of sight for goods moving through the supply chain—anywhere and anytime.”

Originally launched in May of 2020, RyderShare eliminates long-standing industry silos and enables everyone involved in moving goods through the supply chain—shippers, receivers, carriers, and service providers—to work together in real time to prevent costly delays and find efficiency gains. To date, RyderShare has logged nearly six million shipments with customers realizing significant improvements in productivity, labor efficiency, on-time delivery performance, and instant revenue recognition.

Real-Time Results

Since the initial roll out, Ryder has been working closely with customers to extend RyderShare’s capabilities from the transport side of the business into the warehouse. Still in the early stages of warehouse implementation, customers representing globally recognized brands are already starting to realize significant results.

• Improved organizational reaction time by 90% – Access to RyderShare and real-time order and inventory status eliminates the need for status requests in many cases and enables quicker organizational response times through self-service.
• Labor efficiency savings up to 50% – More than half of the email churn between planning/inventory teams and warehouse management teams can be eliminated giving supply chain managers the ability to be proactive with orders.
• Opportunity to increase sales by 5% – Account management teams with access to RyderShare can now confidently sell based on real-time inventory levels. Also reduces need for safety stock.

“With inventory challenges impacting supply chains, one of the biggest benefits our customers are realizing is the power to track inbound stock in real-time, know with certainty when it hits the warehouse floor, exactly where it’s staged, and when it’s ready to move out,” says Karen Jones, chief marketing officer and head of new product development for Ryder. “Having the visibility of RyderShare inside the warehouse means our customers can better manage their inventory, easily communicate with their suppliers and customers, and have the ability to say, ‘I know this product is a big seller for you. We have some in stock right now. Should I add that to your order?’ That is a tremendous value.”

In addition to the visibility and collaboration platform, RyderShare incorporates best-in-class business intelligence tools combined with a proprietary analytics solution, backed by a team of data scientists that apply predictive machine learning across supply chains. These insights and analytics inform future decisions, prepare supply chains for unexpected events, and speed recovery from disruptions – all of which lead to improved resiliency.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 235,000 commercial vehicles and operates more than 300 warehouses encompassing approximately 64 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations with respect to the technology, visibility and benefits of RyderShare, are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220214005113/en/

Anne Hendricks, Ryder

amhendricks@ryder.com

Amy Federman, Ryder

afederman@ryder.com

Source: Ryder System, Inc.

FAQ

What is RyderShare and how does it benefit Ryder System, Inc. (NYSE: R)?

RyderShare is a visibility and collaboration platform that enhances supply chain management by providing real-time tracking and inventory management, resulting in improved efficiency and decision-making.

How has Ryder System (NYSE: R) evolved its RyderShare technology?

Ryder has expanded RyderShare to include warehouse management solutions, enabling end-to-end visibility from transportation to storage.

What results have customers reported using RyderShare?

Customers have reported improved response times by 90%, labor efficiency savings up to 50%, and a 5% potential increase in sales due to access to real-time inventory levels.