MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, today announced that it has deployed a new cloud-based software solution to automate and streamline bulk shipping activities of sand, water, cement, and other supplies required for oil and gas exploration and production. The online portal, powered by ShipXpress, enables Ryder to seamlessly coordinate carrier selection, delivery schedules, inventory management, contract compliance, and invoice payments for the thousands of daily shipments it manages on behalf of oil and gas customers. For added convenience, all the functionality of the tool is also accessible via a mobile app, available for Apple and Android devices.
“Ryder is using its industry expertise and this new technology to help create a connection between the logistics function and well site operations, resulting in extended lead times and improved planning in the upstream delivery process,” says Steve Martin, Vice President of Operations and General Manager, Oil & Gas, for Ryder. “With more lead time and better planning, Ryder can help oil and gas companies operate more efficiently, save money, and improve safety.”
Well site coordinators can use the portal or mobile app to schedule and change carriers, check in drivers, monitor progress of the delivery, and check out the vehicle when it leaves the site. An embedded calculator automatically captures the time spent on site, digitally tracking detention time, which is a charge assessed when a truck is held beyond the time a carrier allows for loading or unloading. Once the load is complete and detention is verified, coordinators can use the Ryder online portal to manage invoicing and billing, carving weeks or even months off the payment cycle. The entire process is documented digitally, improving visibility and speeding order to cash cycles.
The oil and gas industry relies on Ryder to take costs and risks out of transportation and logistics, enabling customers to maximize uptime, keep supplies and goods moving, and bring costs down. This is all supported by a proven health and safety culture driven by experienced oilfield operators and health, safety, and environmental (HSE) professionals. Ryder turns a complicated supply chain into a company’s strategic competitive edge, from the oilfield to the marketplace.
Ryder is a FORTUNE 500® commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor’s 500 Index. Ryder has been named among FORTUNE’s World’s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom, Facebook, LinkedIn, Twitter, and YouTube.
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 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.