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LTL carriers handle multiple shipments from various vendors on a single route, helping save time and reduce costs by maximizing truck space. Real-time tracking allows carriers to adjust on the go, while AI and machine learning enhance load planning and reduce deadhead miles.
About Jonathon McKay Jonathon McKay is a highly experienced partner at PATH specializing in exceptional growth strategies for the supply chain industry. Focused on logistics, manufacturing, and distribution channel strategies, Jonathon helps organizations make confident decisions for bold growth.
We deliver the reliability brands have come to count on, while offering freedom from egregious price increases, hidden accessorial fees, and lackluster support often seen from legacy providers. Maergo has a comprehensive network of providers, eliminating the need for brands to manage multiple carriers.
Image source: iStocks | The Ultimate Guide to Fleet Management: Strategies to Control and Optimize Your Processes Investing in a fleet management system results in an improvement in internal processes, which directly reflects the quality of the service provided to the end customer.
For example, an ERP for automotive distributors needs to include not just a standard sales function but also allow for automotive-specific processes like call-offs and contract pricing, as well as other processes like returns and lot traceability. An ERP provides a central repository for all a distributor’s data.
With logistics, labor, and inventory costs on the rise, finding targeted ways to reduce expenses can have a significant impact on your bottom line. Here are seven proven strategies every supply chain manager should explore to streamline operations, boost efficiency, and drive profitability.
Adjusting current logistics strategies demonstrated the second great challenge of the pandemic. Embracing new and improved logistics strategies remains the best way to adapt to clients’ changing demands in 2021 and beyond. Now more than ever, shippers need to find innovative ways to make the most of real-time freight data and analysis.
Knowing about her blogging side hustle, the executive team allowed her to take on the additional responsibility of the company’s digital marketing initiatives where over the course of 5 years, orchestrated two website redesigns, implemented an inbound marketing initiative, and established a sales outreach plan. 00:36:05] Starting a Podcast.
By incorporating telematics and dash cam data from its customers into its integrated risk management model, HDVI is able to select, price, manage, and retain risk more accurately and efficiently than incumbent commercial auto insurance providers. Learn More About The HDVI Story. Chuck’s LinkedIn. HDVI LinkedIn.
Analytics for Risk Management This isn't your grandmother's data analysis; we're talking about sophisticated pattern recognition that makes your shipping operation smoother than a freshly waxed surfboard. And how do you pick the right carrier if you are now receiving new data of damaged packages?
What you will learn in this blog: Leveraging Data Analytics For Invaluable Insights Implementing Lean Principles for Waste Reduction Effective Management Of Supply Chain Costs As companies navigate market fluctuations and challenges, effectively managing supply chain expenses becomes pivotal for success.
A well-optimized supply chain can help you reduce costs, improve delivery times, and enhance customer satisfaction. This blog post will explore key strategies for streamlining your supply chain from sourcing to delivery. Utilize data and analytics: Track key performance indicators (KPIs) to identify areas for improvement.
In an era where resilience and adaptability are key to survival, technology has become the bedrock upon which supply chain professionals build their strategies. LLMs fueling data-driven decision-making LLMs have stormed the tech landscape in recent years, and their applications in supply chain management are nothing short of transformative.
Every step of the process that brings your product from creation to your consumers’ front-door can cut into those margins and reduce your profitability. This is simply because you represent a larger potential business opportunity for a carrier so they will offer rate reductions to earn your business.
This type of system helps you monitor current inventory, forecast demand, and reduce unnecessary storage costs. By automating these processes, you eliminate guesswork, minimize stockouts, and avoid over-ordering. Clear, open lines of communication ensure that everyone is on the same page and reduces the risk of operational mishaps.
Blog " * " indicates required fields Email * Name This field is for validation purposes and should be left unchanged. Europe prices (FBX11 Weekly) fell 11% to $3,625/FEU. Asia-Mediterranean prices (FBX13 Weekly) fell 8% to $4,118/FEU. Asia-Mediterranean prices (FBX13 Weekly) fell 8% to $4,118/FEU. China – N.
You can cut costs without cutting corners. According to industry research, businesses that optimize their shipping strategy can reduce costs by up to 30%. Ship Smarter by Consolidating Your Shipments One of the easiest ways to reduce costs is to consolidate shipments whenever possible. The good news?
However, the sheer amount of fees applied in the process to price freight for a load can amount to quite a hefty sum. . But knowing what’s happening based on historic, peer and market data can help shippers figure out how carriers price freight loads. Shippers may not track this data independently.
It is a challenge for many shippers and carriers to know where they should put their focus and where the data directs them to go. According to FleetOwner , “ trucking companies must go where the data leads them, not where they think it is going to lead them. Why outdated data hurts carriers in the short- and long-term.
Knowing about her blogging side hustle, the executive team allowed her to take on the additional responsibility of the company’s digital marketing initiatives where over the course of 5 years, orchestrated two website redesigns, implemented an inbound marketing initiative, and established a sales outreach plan.
Data for the BlueGrace Logistics Confidence Index is aggregated through a survey of shippers and reflects all freight transportation modes, while correlating growth or shrinkage to the overall industry volume of shipments and the price of products, according to BlueGrace.
These can be critical problems for companies looking to increase productivity and reduce expenses in logistics operations. Automation in logistics is like putting technology to do the heavy lifting, reducing errors and saving time. In addition, errors are also reduced, as the robots follow only the programmed instructions.
Data is a crucial component of digital transformation in the manufacturing sector. However, data in itself is not a value driver. Many manufacturers aren’t maximizing the value from enriching data and missing out on opportunities to grow, optimize or manage risk. Share data for partnership and growth.
In our previous blog, we explored how matrices enhance supply chain efficiency, from inventory management to logistics. By leveraging these technologies, businesses can optimize operations, reduce costs, and make smarter, data-driven decisions. This reduces last-minute disruptions and improves overall supply chain resilience.
Blog " * " indicates required fields Email * Phone This field is for validation purposes and should be left unchanged. Asia-US East Coast prices (FBX03 Weekly) climbed 7% to $2,357/FEU. Europe prices (FBX11 Weekly) increased 18% to $1,249/FEU. Asia-Mediterranean prices (FBX13 Weekly) increased 13% to $1,551/FEU.
Time To Read: 3 minutes Pricing is a critical aspect of any service-based business, determining not just the revenue but also playing a pivotal role in profitability, sustainability, cash flow and market positioning. Competitive Positioning: Pricing models play a key role in determining how a small business positions itself in the market.
Blog " * " indicates required fields Email * Email This field is for validation purposes and should be left unchanged. Asia-US East Coast prices (FBX03 Weekly) climbed 3% to $2,421/FEU. Asia-US East Coast prices (FBX03 Weekly) climbed 3% to $2,421/FEU. Europe prices (FBX11 Weekly) increased 11% to $1,381/FEU.
Although many carriers have worked diligently towards reducing operational costs and increasing profit margins, there is still work to do for the top for-hire truckload freight carriers to improve. Let’s look at seven ways that freight technology and data achieves that goal. Freight datareduces dwell time and load time.
By working closely with suppliers, organizations can improve the quality and reliability of their in-bound supply chains, reduce costs, and increase their overall efficiency. The common goal for all categories of product is that they must be available at the right time, right quantity and right prices.
Companies with access to accurate near-real-time data not only improve their operations; they also gain the ability to depict the current state of the trucking market. These accurate depictions of the market come from the tracking of data. Businesses that have better access to more data have distinct advantages.
Time To Read: 3 minutes Pricing is a critical aspect of any service-based business, determining not just the revenue but also playing a pivotal role in profitability, sustainability, cash flow and market positioning. Competitive Positioning: Pricing models play a key role in determining how a small business positions itself in the market.
Cassidy | JOC.com September 25, 2023 US shippers uncertain about sales and order volumes this holiday season are likely to increase less-than-truckload (LTL) shipments despite lower truckload rates, data from an industry survey suggests. Seasonally adjusted data for merchant wholesalers showed a 1.39 31 earnings call. a year ago.
Many of the most beneficial tools come from the utilization of data and analytics. Data and analytics provide carriers with an incredible wealth of information that has proven to bolster revenue and profits. How carriers create data-driven pricingstrategies. Request a SONAR Demo.
It’s common that manufacturing and distribution enterprises would use a third-party Business Intelligence (BI) solution to analyze and interpret data from their ERP system. One of the key strategies is leveraging embedded analytics within their ERP system to make faster data-driven decisions.
It’s therefore important for these companies to understand all the costs associated with developing, producing, marketing, selling, and delivering products so they can be priced appropriately.? Transportation: This is another enormous cost, and many manufacturers have tried to reduce it by utilizing third-party logistics companies.
Blog " * " indicates required fields Email * Phone This field is for validation purposes and should be left unchanged. Asia-US East Coast prices (FBX03 Weekly) fell 1% to $2,362/FEU. Asia-US East Coast prices (FBX03 Weekly) fell 1% to $2,362/FEU. Europe prices (FBX11 Weekly) fell 6% to $1,211/FEU.
Large companies with a supply chain risk strategy already in place couldn’t fully cope with the impact of the pandemic. It’s the result of a deliberate strategy that may require tradeoffs compared to other approaches. This strategy requires greater investment and inventory carrying costs but enables continued production.
And that’s why it’s important for carriers to apply data and enable predictive freight rating through these five requirements. Carriers simply need to know where to send trucks and the proper freight rating or pricingstrategies to use. That will go a long way in reducing operating ratios and increasing fleet utilization.
That gave rise to a new time pricingstrategy, dimension (DIM) pricing. . Density plays a role in the form of dimensional pricing. DIM pricing considers cubic volume in addition to physical height, width and depth of packages as a factor for price calculations. Capture pricingdata for LTL freight.
Some of the most common issues that arise from a lack of accurate transportation cost analysis and data tracking include the following: Inability to track data and respond to it in real-time. . Limited data sharing within the chain. Lack of visibility and insight into common observable costs. . Consider this fact.
Blog " * " indicates required fields Email * Phone This field is for validation purposes and should be left unchanged. Judah Levine November 19, 2024 Get Started Weekly highlights Ocean Rates – Freightos Baltic Index Asia-US West Coast prices (FBX01 Weekly) increased 3% to $5,345/FEU. kg China – N. Europe – N.
Blog " * " indicates required fields Email * Comments This field is for validation purposes and should be left unchanged. Higher ocean freight costs have forced SMB retailers to adjust their pricingstrategies. Approximately half of the respondents have increased their product prices due to the spike in freight rates.
Most manufacturing companies are working on what a low carbon future means for their business with the urgency to cut global CO2 emissions in half by 2030 and strive for a net-zero by 2050. Through the Emissions Reduction Fund , the Australian government will also provide an incentive to manufacturers to proactively reduce their emissions.
Longstanding weaknesses in the supply chain like port infrastructure, outdated supply chain strategies and impacts of natural disaster and wars have all further affected global supply chains. With reliable data from ERP manufacturers and distributors can use data analytics to respond to challenges.
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