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Ryder Teams Up with Georgia Tech for Industry’s First Data-Driven Study on Impact of Autonomous Trucking
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Rhea-AI Summary
Ryder System, Inc. (NYSE: R) has released a groundbreaking data-driven study on the impact of autonomous trucking, in collaboration with Georgia Tech's H. Milton Stewart School of Industrial and Systems Engineering. The study outlines a roadmap for commercialization that could lead to cost savings of 29% to 40% by optimizing routing and dispatching. By analyzing Ryder’s dedicated transportation network, researchers developed an Autonomous Transfer Hub Network, significantly reducing costs associated with empty trailers and labor. This study emphasizes real-world applicability and the need for industry evolution to fully utilize autonomous technology.
Positive
Potential cost savings of 29% to 40% through optimized routing and dispatching.
Development of Autonomous Transfer Hub Network that minimizes empty trailer miles.
Study based on real-world data addressing concrete industry challenges.
Collaboration with Georgia Tech researchers enhances credibility of findings.
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World-renowned researchers write roadmap for commercialization with significant projected cost savings
Working in conjunction with Ryder, Professor Pascal Van Hentenryck and his team of students and post-doctoral researchers at Georgia Tech apply their multimodal approach for public transportation to autonomous freight transportation. The result is a roadmap to commercialization based on real-world data—and a significant cost-savings. (Photo: Business Wire)
“I’ve worked on a lot of different transportation problems in the past, and if you have 1% improvement that’s magic,” says Pascal Van Hentenryck, A. Russell Chandler III Chair and professor and associate chair for innovation and entrepreneurship at ISyE. “Here we’re talking about 29-40%, so it’s massive. It’s really massive.”
Already familiar with ISyE through the Ryder Charitable Foundation’s support of research and scholarships at the university, Ryder approached Van Hentenryck who leads the Socially Aware Mobility Lab. The challenge was for Van Hentenryck and his team of students and post-doctoral researchers to apply their multimodal approach for public transportation to autonomous freight transportation.
Analyzing real-world data from Ryder’s dedicated transportation network in the Southeast, Van Hentenryck and his team developed an Autonomous Transfer Hub Network (ATHN) for the region that combines autonomous trucks on highways with conventional trucking operations for the first and final miles. The team then introduced optimization models for routing and dispatching and evaluated the proposed autonomous network by comparing it with existing operations under various assumptions. The analyses indicate the ATHN with optimization technology, can reduce costs by 29% to 40% for a large network (depending on the price of autonomous trucks as well as the direct and indirect cost of operating them).
“The team looked at our dedicated transportation network, where trucks and drivers are committed to specific customers. While that particular transportation model guarantees capacity 24/7, it also creates situations where our customers’ trucks haul empty trailers,” says Karen Jones, chief marketing officer and head of new product innovation for Ryder.
The researchers’ ATHN and optimization models significantly reduced the number of miles driven with empty trailers, which accounts for a large part of the cost reduction.
“In the transfer hub network, there is no need to return back empty after a delivery, and there is no need to limit working hours or to return to a domicile at the end of the day,” says Van Hentenryck. “As a result, only 35% of the automated distance is driven empty, compared to 50%. This means that even if autonomous trucks would be as expensive as trucks with drivers, costs would still go down by 10%.”
The study found additional cost savings came from reduced labor costs and idle time. Researchers also factored in increased flexibility in delivery appointments to keep autonomous trucks moving around the clock.
“In addition to the significant projected cost savings, I think this study is particularly notable because it is based on real-world data and addresses real industry challenges,” says Jones. “It’s clear that, in order to realize the full benefit of autonomous trucking, shippers, receivers, and 3PLs will need to evolve today’s operating practices to meet the needs of tomorrow’s robotic trucks.”
The study with ISyE underscores the importance of several pilot projects that Ryder has announced with autonomous trucking companies Embark, Gatik, TuSimple, and Waymo.
“Our goal with these strategic alliances and our collaboration with ISyE is to help accelerate autonomous trucking nationwide. If you think about ever-escalating consumer demands combined with capacity constraints, driver shortages, and regulatory and safety pressures, autonomous technology is on track to solve a host of industry disruptions,” says Jones. “I think the work of Pascal and his team shows that we’re on the right track, and to have that kind of validation from world-class researchers at the top school for industrial and systems engineering—that’s priceless.”
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 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
About Ryder Charitable Foundation
Established in 1984, the Ryder Charitable Foundation has provided millions of dollars in funding and transportation services to charitable organizations impacting communities across the country. Over the past 10 years, we have supported our charitable partners with more than $25 million. Ryder and the company-funded foundation have a long legacy of building stronger communities where our employees live and work by supporting charitable organizations with our people, dollars, and expertise. We focus on disaster relief, hunger action, innovation-focused higher education, veteran support, and community collaboration grants supporting health and children’s initiatives. Our giving efforts align with the foundation’s core values – trust, safety, innovation, expertise, equality, and community collaboration – the same ideals that create successful communities.
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 goals and expectations related to autonomous trucking and transfer hub networks such as cost-savings, labor costs, idle time, total miles driven, and increased flexibility in appointments 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.
What is Ryder's recent study about autonomous trucking?
Ryder's recent study outlines a roadmap for autonomous trucking that could achieve cost savings of up to 40% through optimized routing and dispatching.
How much could Ryder save with autonomous trucking according to the study?
The study suggests that Ryder could save between 29% to 40% through implementation of autonomous trucking solutions.
When was the study on autonomous trucking released?
The study on autonomous trucking was announced in a press release dated November 2, 2021.
What is the role of Georgia Tech in Ryder's autonomous trucking study?
Georgia Tech researchers collaborated with Ryder to conduct a data-driven study on the impact and commercialization of autonomous trucking.
What is the significance of the Autonomous Transfer Hub Network developed in the study?
The Autonomous Transfer Hub Network aims to reduce operational costs and improve efficiency by minimizing empty trailer miles.
