MIAMI–(BUSINESS WIRE)–Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces it ranks among the top 25 most innovative and disruptive companies in the freight technology space, according to the annual FreightWaves FreightTech 25 awards. FreightWaves announced the winners during its F3: Future of Freight Festival.
“To face such formidable competition in an awards program as reputable as the FreightTech 25 – and rank among the best in the business – it underscores Ryder’s commitment to investing in and leveraging emerging technologies that help make our industry, our business, and ultimately, our customers’ businesses better, faster, and smarter,” says Karen Jones, CMO and head of new product development for Ryder.
Ryder has invested $1.2 billion over the past four years to build, acquire, and create strategic alliances with start-ups and technology providers on innovative new products and solutions that tackle disruptions in the supply chain. The company focuses on four strategic areas of disruption: next-generation vehicles, e-commerce fulfillment, asset sharing, and digital technologies.
Among Ryder’s innovations in these areas are:
- COOP by Ryder®, the largest commercial truck- and trailer-sharing platform connecting fleet owners with idle vehicles to trusted businesses needing rental vehicles. To date, more than 10,000 businesses have joined the program nationwide, with COOP experiencing 250% year-over-year growth since its inception in 2018.
- In the area of next-generation vehicles, Ryder collaborates with manufacturers of electric vehicles (EV) and EV charging infrastructure, as well as companies working to commercialize autonomous vehicles (AV) and AV logistics networks.
- RyderGyde™, the only application in the industry that allows drivers, fleet managers, and fleet owners to manage all aspects of fleets small and large – anywhere, anytime, and on any device. It’s a one-stop shop for scheduling vehicle maintenance, renting trucks, comparing fuel prices, and recording electronic driver vehicle inspection reports.
- RyderVentures, a $50 million corporate venture capital fund to invest in and create strategic alliances with start-up companies tackling disruptions in the supply chain, with the goal of identifying companies and business models addressing pain points and working alongside them to speed solutions to market.
- And RyderShareTM, a one-of-a-kind, end-to-end visibility and collaborative logistics technology that enables everyone involved in moving goods through supply chains – shippers, receivers, carriers, and service providers – to work together in real-time to easily see potential problems and inefficiencies, take pro-active action to course-correct, and utilize business intelligence and analytics to inform future decision-making.
RyderShare also won the “Best in Show” competition at the FreightWaves F3 Future of Freight Festival. After three days of rapid-fire demonstrations, during which 50 leading companies had just seven minutes to show off their latest freight technology solutions, nearly 2,000 festival attendees voted RyderShare a standout.
“It’s true that innovation begets innovation,” adds Jones. “So, stay tuned for more from Ryder.”
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 239,000 commercial vehicles and operates more than 330 warehouses, encompassing more than 80 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 our ability to continue investing in freight technology solutions and the capabilities of our freight technologies, 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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