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Kevin Coomes and Joe Lynch discuss navigating the freight downturn in the logistics and transportation space. About Kevin Coomes Kevin Coomes , the Vice President of Sales at Greenscreens.ai, is an accomplished freight tech professional with over 15 years of sales, business development, and start-up experience spanning two countries.
Flexibility in a Volatile Market: As pricing and freight capacity fluctuate, procurement professionals need to adjust rates quickly without lengthy RFP processes. This innovation is part of Freightos’ vision for comprehensive freight digitization, bolstered by its acquisition of Shipsta. Why Rate Refresh?
From a financial standpoint, transportation cost analysis remains focused on determining the value of the resources used to execute a given shipment and goes well beyond benchmarking. Moreover, this kind of analysis does not focus on who ends up paying which expenses in the end. The challenges of limited transportation cost analysis.
More Resources Home October 22, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe – N. America weekly prices increased 2% to $1.85/kg.
How effective are you at lane-by-lane planning and getting deep insights to aid in freight spend planning, mini-bids, and other long-term contracts in your organization? Request a SONAR Demo. The post [WHITE PAPER] How lane by lane analysis at scale promotes strategic and tactical transportation management appeared first on SONAR.
Relying solely on manual shipping data analysis continues to yield poor results. And even the freight management analytics of five years ago do not necessarily respond well to today’s shifting and changing market. By using descriptive and diagnostic analytics, freight management parties begin to see not only what happened, but why.
A freight spend analysis can help cut those extra costs. Performing a freight spend analysis reveals extra costs deriving from unforeseen issues. Let’s look at a few best practices and steps to conduct a comprehensive, insightful cost analysis. Know the scope and value of a freight spend analysis.
Optimizing truckload freight spend is essential in today’s freight market. Track truckload freight accessorial costs As reported by Inbound Logistics , “Carriers price accessorials, such as liftgate or non-commercial delivery, at a premium. Choose the right carrier based on landed freight spend. Download the White Paper.
Freight costs and budget adherence are among the most important and often overlooked aspects of transportation management. Measuring performance with transportation KPIs and freight data is getting easier. Budgeting and managing freight costs are critical to overcoming any disruptions and increasing profitability.
Co-hosts Kyle Taylor and Luke Falasca focused on freight forecasting during COVID-19 on this episode of #WithSONAR. Subscribers receive near-time market intelligence to improve pre-RFP strategy analysis and can identify new market opportunities with little to none native, historical data. Get a Demo of SONAR's Lane Scorecard.
One of the most popular tools that drives the supply chain to new heights is the process of intermodal freight shipping. Data access and analysis continue to be essential to competitive operations within the process of monitoring rates and expenses in intermodal shipping lanes.
With that in mind, the trucking RFP has come into play as a more significant undertaking for 2021 contracts as the freight market saw volatility in 2020 on the spot market due to historic tender rejections and volumes adding to increased prices. A confident, data-driven trucking RFP undertaking can make a big difference in freight spend.
Many asset-based carriers utilize freight broker and data technology to recruit truck drivers and reel in new talent. It is considerably more important to find talent quickly to fill the ever-growing needs of the freight and shipping industry. In turn, that slows down contract freight and reduces how much contracted truckers earn.
That’s the onus of electronic freight tender trucking data when compared to lagging submitted data that may take 7 to 14 days to come in. The freight market makes real-time decisions, and when it comes to navigating the freight market, they need near-real time data to proactively plan. But that’s not the full picture.
Tracking market trends within truckload rates relies heavily on data and analysis. Managers don’t want to learn that they are essentially paying a higher transportation rate with one carrier when another freight carrier offers a much more competitive truckload rate. Data-driven insights provide a rubric for guiding RFP processes.
More Resources Home March 12, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices increased 35% to $2.97/kg.
More Resources Home October 15, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe – N. America weekly increased 2% to $1.82/kg.
Today, freight load management is a major trouble area for carriers and logistics managers within the shipping industry. For managers in the transportation industry, freight load pricing accuracy remains a source of confusion and disruption. Within the freight load management area of the network, data is essential.
And one of the easiest ways to keep up-to-date with the latest news and trends is to follow the available top freight podcasts. Managers, team members, and anyone involved in freight tracking, shipping, logistics or management can benefit from the information and insight provided in these great freight, logistics, and supply chain podcasts.
Waste matters in the shipping industry because every instance leads to higher freight costs. By utilizing effective trucking RFP protocols, freight managers can ensure trucks stay filled on every leg of every trip. Most freight managers are not qualified for this kind of operation, so forming partnerships with 3PLs is vital.
Some of the most cost-effective software and methods supply chain professionals and the best freight brokers can adopt are supply chain predictive analytics programs. Some of the challenges with the supply chain will and already do accurately predict freight’s future. Request a SONAR Demo.
Control over trucking freight rating remains a blip for many carriers, particularly owner-operators and those trying to manage the chaos of a pandemic-stressed industry. Quite simply, freight rating challenges are not a problem limited to trucking carriers. Now, the industry is changing yet again.
New types of freight tech are rising to the forefront of the industry. The sum of that freight tech volume is somewhat ironic – data overload and an inability to manage due to the inefficient use of several systems. However, application programming interfaces (APIs) are bringing insights and freight tech together.
The introduction of this first application within SONAR SCI was built with leaders at companies that spend millions of dollars on freight shipping. SONAR Lane Acuity Plus provides lane-level insight into market stability and rate benchmarking , helping participants identify freight rate and capacity risk on a lane. .
As 2021 begins, new growth and adjustments need freight managers’ attention to start the recovery process. Now more than ever, shippers need to find innovative ways to make the most of real-time freight data and analysis. Actionable data use boosts freight transport processes and allows for more effective strategic planning.
Shipping analytics tools shine a light on the value of informed freight management. Freight market participants need these top shipping analytics tools in their freight stack. Shipping status tools to track freight. That extends to guiding freight bids too. Ocean freight impacts on trucking is another use case.
The freight market continues to swing upward. It would seem to come down to tracking these truckload freight rate index values. . It would seem to come down to tracking these truckload freight rate index values. . Many enterprises have built unique real-time freight data indices. Defining the freight rate index.
More Resources Home November 15, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices fell 20% to $3.38/kg. Europe – N.
More Resources Home November 7, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices fell 2% to $4.21/kg. Europe – N.
More Resources Home November 28, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices increased 6% to $4.47/kg.
More Resources Home January 16, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices increased 91% to $3.55/kg.
Truck fleet management has always been intensely focused on knowledge of the freight market. By using strong management and analysis processes, supply chains can maximize value and stay competitive. And freight KPIs can serve as a valuable tool for freight market intelligence. Streamline data capture and analysis.
Supply chain leaders continue to focus their efforts on finding the right mix of assets used, market positioning and carrier freight pricing strategies. However, this is about a different type of freight load balancing-the balancing of assets. Defining freight load balancing. For carriers, it’s all about balance.
The factors driving the tight freight market seem to be sticking around forever, like your in-laws at Christmas. That analysis should help you to determine which carriers you want to solicit bids from. Request a SONAR Demo. Request a SONAR SCI Demo. Meet the new year, same as the old year?
same-day delivery, logistics, courier services, freight) Your mission statement Business objectives and key milestones A snapshot of the market opportunity and how your service fills a need Remember, the goal is to capture attention and make it clear as to why your business will succeed. Competitive Analysis : Who are your competitors?
More Resources Home December 13, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices fell 13% to $3.69/kg. Europe – N.
More Resources Home November 19, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices increased 5% to $4.03/kg.
More Resources Home April 16, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices fell 2% to $3.30/kg. Europe – N.
It is something that needs to be practiced more often when it comes to planning and predicting freight rates. As highlighted by LinkedIn , a staggering 80% of bargaining is preparation, analysis, data review and planning before any meeting or discussion occurs. Request a SONAR Demo. Request a SONAR SCI Demo.
The value created with real-time data and right-now lane-level analysis to enforce compliance. Request a SONAR Demo. Request a SONAR Demo. How combining different metrics amounts to more proactive and successful tactical supply chain management. Fill out the Form Below to Access a COPY of the White Paper.
More Resources Home December 6, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices fell 5% to $4.24/kg. Europe – N.
More Resources Home May 8, 2024 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe weekly prices fell 7% to $4.08/kg. Europe – N.
A TMS can often end up saving you money in the long term by helping you better manage your freight spend and performance. As mentioned above, most often all your freight is not hauled by the same carrier. Because of this, freight tracking can be challenging. Or find out what your freight costs were on certain lanes.
That insight into how freight logistics and optimization rely on data and understanding the full picture is critical to making the best improvements in supply chain route optimization too. Freight management represents a vital part of market adaptability. The value of strategic planning and real-time data analysis cannot be overstated.
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