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Kevin Coomes and Joe Lynch discuss navigating the freight downturn in the logistics and transportation space. Kevin’s journey in transportation and logistics began in China, where he managed ocean and air imports for his own venture, Phoria Energy Solutions. By leveraging comprehensive data analysis, Greenscreens.ai
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.
As customers increasingly demand rapid and reliable delivery, optimizing this final leg of transportation becomes essential for businesses aiming to enhance customer satisfaction and operational efficiency. GET A FREE DEMO The Role of Data Analytics Data analytics plays a vital role in last-mile delivery route optimization.
For instance, if you know more detail and have insights around freight market volatility, you can assess the risk in every lane and its effect on tender acceptance , providing the ability to drill down into meaningful steps that are clearly defined to improve transportation management. Request a SONAR Demo.
Starting a delivery and transportation business can be incredibly rewarding, but like any venture, it requires careful planning. For a delivery and transportation business, your executive summary might include: A brief description of the services you’ll provide (e.g., Competitive Analysis : Who are your competitors? Be specific.
Nothing in life comes for free, especially in the transportation and shipping industry where predictive freight costs carry so much weight. Ultimately, it comes down to how good logistics managers get at transportation rate forecasting. It cost money to make money and even to try and save money. Download the White Paper.
Carriers and transportation experts are always looking for ways to cut costs and maximize spending. According to Talking Logistics with Adrian Gonzalez , “Transportation professionals are so consumed with managing immediate needs that it’s often difficult for them to step back and consider longer term strategic objectives.”
Data-driven transportation management , including the checks and reviews that accompany healthy data management practices, are part of the process of getting the most out of the tech stack. This remains key to the overall success of investments within supply chain analysis. Things will go wrong. Download the White Paper.
When you want to drive down your logistics and transportation spend, the very first thing that you need is freight and transportation data. Luckily, this isn’t the case for transportation data. Accurate freight and transportation data is particularly important. Without hard data, you can’t take action.
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. Request a SONAR Demo. Request a SONAR SCI Demo.
And that may very well include outsourcing to 3PLs, brokers or other transportation providers as needed, explains the Harvard Business Review. Of course, carriers want their transportation networks to be as profitable as possible. Access to data for tracking and analysis is critical for success and growth.
We’re here to help you thrive with our customizable Managed Transportation Solutions. Trinity’s Transportation Management System (TMS) Trinitys TMS offers a wide range of capabilities to take over as your entire toolbox. Business Intelligence Make smarter decisions with detailed reporting and data analysis.
Transportation Management Workflow may be defined as a supply chain workflow that connects and links the various parties involved along the chain from, for example, the seller’s warehouse to the buyer’s warehouse. One of the primary requirements would be to operate an effective TMS or Transportation Management System. .
Freight costs and budget adherence are among the most important and often overlooked aspects of transportation management. This sector covers important activities relating to procurement, transport, and storage of goods. Measuring performance with transportation KPIs and freight data is getting easier. Think about this.
For shippers, the approach to transportation procurement is evolving. This approach is cumbersome and fraught with challenges such as limited visibility, inefficient data management and difficulties in bid analysis.
And that’s especially true when considering new carriers or using other modes of transportation. This lack of insight affects network visibility and makes it difficult to know what current transportation rates are, what trends are rising and falling at any time, and how logistics data is changing over time. Request a SONAR Demo.
Improved railway fluidity is one of the few areas where transportation networks are improving, but even in that mode, terminal congestion remains rampant. That analysis should help you to determine which carriers you want to solicit bids from. Request a SONAR Demo. Request a SONAR SCI Demo. at the same time.
Data represents an integral part of daily life for most people, and it is no different within the transportation industry. Route optimization relies on fast and intelligent responses to real-world situations that may arise during transportation. The value of strategic planning and real-time data analysis cannot be overstated.
Today’s shipping and transportation industry has changed in several ways, even over just the last few years. This is seen exceptionally well when looking at rail capacity and transportation rates for the modern supply chain. Data accuracy can and does impact freight transportation in a significant way.
Now more than ever, shippers need to find innovative ways to make the most of real-time freight data and analysis. The best logistics strategies depend on expert insight, such as the data and analysis found in FreightWaves Passport, which focuses on the chain’s inner workings. Request a SONAR Demo.
By using strong management and analysis processes, supply chains can maximize value and stay competitive. Streamline data capture and analysis. Data for the sake of data is meaningless without proper, automated analysis and data capture. Request a FreightWaves SONAR demo by clicking the button below. .
TMS is the acronym of a transportation management system. GET MY FREE SUPPLY CHAIN ANALYSIS. Schedule a risk-free live demo with Ryan O’Halloran to learn more about our customizable solutions. SCHEDULE A RISK-FREE LIVE DEMO. If you work in logistics, you’ve likely heard the term TMS before. AUTHOR: CHRISTINE MORRIS.
Implementing predictive traffic analysis and real-time GPS tracking can help navigate these issues, allowing for immediate rerouting if needed for an effective delivery schedule. Rain, snow, or storms not only slow down transport but can also affect routes previously deemed safe. Start Using RouteManager!
As the world of transportation continues to evolve, shippers and logistics service providers (LSPs) are effectively utilizing certain methods along with modern data platforms to meet the demands of today’s supply chains. Review transportation pricing and contracts regularly. Request a SONAR Demo.
More freight brokers are turning to technology and transportation data to grow their businesses by understanding the true freight market rate. . Part of that strategy lies in using the right transportation data, analysis and insightful reports, such as those provided within FreightWaves SONAR, to guide day-to-day operations.
The company will be using the event to introduce an AI detection camera for vulnerable road users (VRUs) as well as demo its AI-powered post-analysis software, NARA, which was launched earlier this year. “We This will keep the driver more engaged by providing highly accurate and useful information.
This service joins different methods of long-haul shipping to help smooth overall transportation hand-offs. It can also refer to the transportation of shipping goods over short distances. Global supply chains rely on multimodal transport to ship goods from manufacturers that are far from their end customers.
The latest release introduces the Matrix Creator, improved data input workflows, and key updates to Milkrun Optimization Plus, Transport Optimization Plus, and Geocoding Apps. To see our Matrix Creator App in action, click on the image and explore the interactive demo.
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. Fast Company, the Chicago Tribune, Transport Topics and Ernst & Young for its innovations, growth and environment. Get a Demo of SONAR's Lane Scorecard.
A transportation management system (TMS) , specifically one that includes a freight optimization tool, is one way to analyze and take your load planning process from hours of manual work to minutes through automation and technology. Start saving time and get your free supply chain analysis with Trinity Logistics.
Data has become an integral part of the supply chain network’s daily operations and is inseparable from the modern processes that govern procedures involved in transportation. And it can actually harm the shipping and transportation process when inaccurate facts and insights govern critical decisions and judgment calls.
As a result, transportation fleets must leverage truck utilization data daily as well as load percent capacity, driver wellness and other KPIs to monitor the efficiency and optimization of each unit. Realize more effective transportation management and forecasting with the right analytics platform. Request a SONAR Demo.
It has been and remains a key part of the transportation and logistics puzzle for enterprise shippers today. Global markets are at the heart of industries large and small and have become a key player in the transportation industry. Streamline data collection and analysis. Request a SONAR Demo.
And likewise, maritime transportation has been a dominant player in global transportation for decades. Ships are one of the most basic cargo components for global freight transport. 90% of goods are transported by container ships. That does not mean that it does not have its own challenges to overcome.
Utilizing applied technology helps freight management reduce issues during transportation that cause drivers and companies to lose money. Increased route optimization to speed transportation. The entirety of being an asset-based carrier is the capability to provide transportation. Request a SONAR Demo.
But since you’re here, this must be the question you are asking yourself, and we’ll try to dig deep into the topic, helping you overcome the transportation costs obstacles. We witnessed a significant increase in the transportation costs. However, the question remains: how do you determine if the transportation itself will be optimal?
In other words, a lack of insight into market-by-market and lane-by-lane analysis will amount to trouble in understanding what is going wrong and what is necessary to improve service levels. Request a FreightWaves SONAR SCI Lane Acuity demo to get started or by clicking the button below. Request a SONAR Demo.
For managers in the transportation industry, freight load pricing accuracy remains a source of confusion and disruption. And the only way to see these costs is to get real-time freight data across the full carrier transportation network. The best and only successful way to overcome flawed data analysis is to use effective technology.
Dive deeper into freight data that matters Stay in the know in the now with instant freight data reporting Sign up for Free Analysis Last week, Canada’s Labor Minister ended the separate labor disputes – one on each coast – that had resulted in lockouts at Canada’s major container ports. America weekly prices increased 9% to $2.60/kg.
Truckload freight and transportation costs make up a large part of most logistical spending for shipping companies across the country. That’s even more true since transportation capacity, indicated by LMI.TPCP, is at 46.34, well below prior years’ averages in the above image. Request a SONAR Demo.
Dive deeper into freight data that matters Stay in the know in the now with instant freight data reporting Sign up for Free Analysis A massive container explosion on a vessel docked at the Port of Ningbo on Friday – the most destructive of several recent container fires – closed the port’s Phase III Terminal for 60 hours over the weekend.
Transportation brokers continue to search for new applications and uses of technology to empower more informed decision-making. Therefore, transportation brokers need to know how freight data can add value, why actionability and timeliness enable accurate fast-paced decisions, and a few tips to apply FreightWaves SONAR data every morning.
Analysis of that data creates a benchmark rate. Transportation benchmarking simply means that the index reflects the pricing or demands for a given lane or aspect of the supply chain at any time. While there are exceptions, it comes down to whether a transportation analytics add-on within an existing TMS shows true market conditions.
They tend to follow similar lines and influence services and prices throughout transportation networks. This gets easier to accomplish with tailored benchmark data analysis. . For instance, benchmarking truckload services offers the unique opportunity to use data and analysis intelligently. Request a SONAR Demo.
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