Eastern U.S. Class I railroad Norfolk Southern has invested $8 million in a joint venture with technology platform provider DrayNow to develop a technology for intermodal that the companies say will “improve customer and drayage driver experience, enhance supply chain transparency and increase network fluidity.”
The offering will utilize and build upon DrayNow’s existing app that provides real-time information on the first and last mile, including shipment tracking and document capture of drayage movements. The app integrates directly with TMS software via EDI and API. DrayNow’s clients include small-fleet owners seeking to connect with brokers via the company’s technology platform.
NS’ (NYSE: NSC) $8 million investment will go toward further developing the technology for intermodal and building out sales and marketing resources, as well as adding team members. NS Chief Strategy Officer Mike McClellan will also sit on DrayNow’s board of directors.
“We are taking a comprehensive look at the supply chain with an emphasis on areas where we can modernize our processes and extend our reach even further beyond the track,” McClellan said in a Wednesday news release. “Our shared goal is to improve our customer experience and help them grow their businesses. This is perfectly aligned with our long-term vision for Norfolk Southern.”
Said DrayNow CEO Mike Albert: “DrayNow has always been committed to building technology solutions that address intermodal’s unique challenges and serve all the stakeholders of the intermodal supply chain. Norfolk Southern is the perfect strategic partner to accelerate our vision of leveraging technology for transparency and efficiency all the while expanding our operating business.”
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