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Coyote Logistics, LLC is a leading third-party logistics provider headquartered in Chicago, Illinois. Founded in 2006 by Jeff and Marianne Silver, Coyote quickly became one of the fastest growing freight brokerage companies in North America. It gained the attention of UPS, which acquired the company for $1.8 billion in August 2015. Today, Coyote operates as a separate subsidiary of UPS under its own name. It has 17 offices in the United States, with more than 2,200 employees.
Coyote Logistics is not the first logistics company that Jeff Silver has built and made successful. In fact, Jeff was part of the executive team for American Backhaulers. It was acquired by C.H. Robinson Worldwide Inc. for $136 million in 1999. After earning his MBA from the University of Michigan and a master’s degree in engineering and logistics from MIT, Jeff started Coyote Logistics in 2006 with his wife, Marianne. In 2007, Coyote Logistics received an investment from Warburg Pincus, a private equity firm, after only a year in business. In order to expand its transportation network, Coyote acquired two other logistics companies shortly after receiving the investment. Since then, the company’s growth has been entirely natural.
Coyote Logistics provides brokerage and transportation management services for truckload, less-than-truckload and intermodal shipments to its more than 14,000 shippers, including Fortune 100 companies and small businesses. Using its network of over 40,000 local, regional and national carriers, Coyote specializes in fleet backhaul, matching customer’s shipments to return trips for trucks, so that trucks never travel empty. This not only saves money and increases efficiency; it also reduces the impact on the environment, as there are no wasted trips.
Within the industry, Coyote’s business model is unique in the fact that it keeps its sales and shipment arrangements separate, instead of doing both at once. The reason this method is successful is that it allows Coyote to see what trucks are already in the area of the shipment, thereby optimizing the routes. Another thing that sets Coyote apart from the competition is its “No Excuses” commitment to everything it does. This includes guaranteeing shipment for every load it accepts.
In some ways, Coyote Logistics acts like a tech company in addition to a logistics company. Its experienced IT department is continually developing and improving the company’s various web applications.
The backbone of Coyote Logistics is its innovative and beautifully designed proprietary technology called BAZOOKA™. Developed by Jeff Silver, the BAZOOKA™ software allows its employees to manage every transaction, while giving its customers and carriers the ability to view and track their shipments. This software also gives Coyote full visibility of its network, in order to more efficiently match a freight shipment to a carrier in the area.
The company also offers a mobile platform and messaging service to connect brokers and customers. In addition, Coyote has a Collaborative Transportation Management (CTM) service. This service offers its shippers supply chain planning, execution and settlement services, and capacity sourcing and management. This web-based service gives Coyote’s shippers complete network visibility in order to control costs and streamline processes.
Coyote is not only one of the leading logistics companies; it is also frequently listed as one of the top workplaces. It has earned the title for the past six years from a variety of different publications. The workplace environment is a very important part of the company’s culture. This is evident in the unique position held by one of its founders, Marianne Silver, who acts as Coyote’s Chief People Officer. Marianne is the mastermind behind Coyote’s world class recruiting and the unique, intensive training program that every entry-level employee goes through upon “joining the pack.” Since Coyote makes a significant investment in its entry-level employees, the company primarily fills management positions from within. Additionally, making philanthropic contributions is a large part of Coyote’s corporate culture and the company has raised more than $1 million for St. Jude Children’s Research Hospital in five years through employee-driven fundraising.
As a highly successful company on its own, many worried that the culture would change once UPS acquired Coyote. Fortunately, this hasn’t been the case. Both UPS and Coyote have the same goal, to get the job done in whatever way possible. Coyote’s “No Excuses” outlook is one of the things that drew UPS to it originally, as UPS had used Coyote for years before the acquisition to help during its peak shipment times. The acquisition was beneficial for both companies, as Coyote gained the significant resources of UPS and UPS now has the ability to provide more reliable less-than-truckload and truckload shipments. Knowing that their values aligned before the acquisition and maintaining good communication was key to the transition.
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