Bishop Ravenel (MSx, GSB) and Professor Saumitra Jha (GSB)
Based on decades of historic events including trucking deregulation, globalization, and the arrival of third party logistics companies en masse, the transportation sector has become exceedingly inefficient. Today, many transportation vessels, including trucks, trains, planes, and ships, are traveling empty (or less than full) nearly half the time. Banyan leverages cutting edge data analytics and computer science, disciplined operational methods, and a novel business model to reduce the empty movement of these transportation assets. This will return billions of dollars in wasted costs to carriers and shippers and achieve Banyan's further goal of ridding the United States and world of thousands of tons of pollution and millions of unnecessary miles traveled by these transportation vessels.