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Michael Darden and Joe Lynch discuss killing ghost loads and phantom data. Michael is the CEO of DFM Data Corp, a utility company designed to be a tool between digital partners moving freight in the USA and Canada.
About Michael Darden
Michael is from New York and moved to Atlanta Georgia in 1985. He is married, with 3 children. Michael has been fascinated with the coordination and movement of goods for 40 years. He worked for Coca-Cola, culminating as Operations Manager for the Coke Olympic Warehouse operation at the 1996 Atlanta Olympics. He then led Power2Ship as it pioneered digital freight matching in the trucking industry in the early 2000s. Arranging for the right human resources, at the right place, with the right equipment, at the right time, takes historic knowledge, precision in planning and communication, and precise execution. Michael has focused his career on the collection and utilization of actionable data to make informed process improvement decisions.
About DFM Data Corp
DFM Data Corp. Inc. was formed in 2019 to help the fragmented North American ground transportation industry embrace digital technology … AKA the “FreightTech Revolution”. The company has engaged with governance leaders to establish a business model for collaboration in the digital freight industry, the linchpin to unlock this valuable data. Recognizing that the fragmentation is caused by existing industry systems that date back 100 years, DFM Data has put forth a new type of ‘for profit’ entity to serve this exact need. Participation is power. Our technology solution introduces the ability to network all of the different systems with different jargon, and standardize to a communication bridge that uses virtual computing to move the data through the network, without disclosing the sensitive customer data.
Key Takeaways: Killing Ghost Loads and Phantom Data
- Michael Darden is the Founder and CEO of DFM Data, where he and his team help accelerate adoption of digital freight services by shippers, carriers and brokers.
- DFM has a solution that will kill ghost loads and phantom data, which in turn will improve the customer experience and performance of digital fright matching services (DFMs).
- Today, shippers, carriers, and brokers waste a lot of time because the data, that is the foundation of the digital freight business is flawed.
- Old, dirty, data obscures market signals and leads to a lot of bad decisions, customer dissatisfaction, and additional cost for the entire industry.
- The heart of the problem is that there is no unique identifier for loads. Example: A shipper or broker posts a load on multiple load boards and then the load is covered by a carrier. The load is removed from one of the load boards, but not necessarily all the load boards. In this example, the covered load is now a ghost load, yet dozens of companies don’t know it yet. The same problem exists with capacity.
- As a result of ghost loads and phantom data, supply and demand signals confuses rather than enlighten the shippers, carriers, and brokers.
- DFM Data is a neutral utility that functions as the data clearinghouse for the 200+ US-based digital freight matching service providers (DFMs). Their distributed data platform facilitates anonymized data-sharing by DFMs.
- This essential interconnectivity between DFMs allows the automated removal of duplicated load and capacity postings (aka “Phantom Data”) from multiple DFM marketplaces, platforms and load boards—and ultimately, the entire US truckload spot market.