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From COVID to geopolitical tension, the past five years have emphasized the need for procurement agility. For example, PUMA , the fastest sports brand in the world, first used Rate Refresh in July and has seen significant improvements in efficiency, speed, and quality of the complete rate management on a global scale. Why Rate Refresh?
Companies relying on lean inventory models or single-region sourcing are particularly exposed. These platforms provide dynamic route optimization, real-time visibility, and predictive analytics to keep supply chains moving smoothly even during crises. Tools like driver apps improve workforce efficiency while minimizing burnout.
How to Increase Inventory Turnover with Inventory Optimization. The concept of inventory optimization helps many businesses improve their inventory turnover – without damaging stock availability. The Importance of Improving your Inventory Turnover. Six Ways to Improve Inventory Turnover (with Inventory Optimization).
There is a strategic incentive in understanding the optimalsourcing location for specific customers, and the optimalsourcing location for different resources. Study 3: Identify OptimalSourcing Locations . Demo in Network Design Navigator . Ensure Resource Requirements . We’re here for you.
With the proper use of data and freight analytics , contract procurement and securing capacity can be enhanced. The result is improved efficiency and profitability for both carriers and shippers – along with significant environmental benefits.” Those are the founding principles behind SONAR SCI Lane Acuity. Download the White Paper.
Supply chain professionals responsible for transportation procurement at Fortune 500 companies focus on three things – budget forecast accuracy, service scores and primary tender acceptance. harder to procure capacity at the benchmark rate per mile ) in both the outbound and inbound directions.
Retailers should find ways to optimize truckloads to reap benefits. How do we optimize these loads? Shippers need to leverage automated and intelligent solutions to truly optimize the supply chain and impact the bottom line in a positive way. However, trucking industries have many business models they operate by.
Load capacity limits play a crucial part in a supply chain network organization, logistics metrics management, and procurement in the shipping industry. Freight management parties need to understand why procurement falters without technology and how technology can boost sourcing across all industries.
An effective logistics solution is critical for optimizing supply chain efficiency, reducing costs, improving customer satisfaction, and supporting sustainability goals. This article will provide easy insight into the world of logistics management—from the key components and challenges to tips on optimizing it for your business.
If done right, load matching means better resource optimization, cost reduction, streamlined operations, and ultimately, happy customers and businesses. It strives to find the most cost-effective carrier that meets the load requirements and delivery constraints , contributing to overall cost reduction and improved profitability.
Transportation procurement remains a major problem for enterprises faced with the need for faster and more extensive capacity. Let’s take a closer look at the five key hallmarks of quality data sets that can improve transportation procurement. Increase transportation procurement with FreightWaves SONAR.
Spot freight provides a short-term way to source capacity and boost procurement outside of contracted rates whether TL or LTL. Consider this; as reported by Louis Columbus of Forbes , “Machine learning algorithms and the apps running them are capable of analyzing large, diverse data sets fast, improving demand forecasting accuracy.”
For shippers, the approach to transportation procurement is evolving. However, with the advent of specialized software solutions like Keelvar, Emerge and Jaggaer, there’s a noticeable shift in how transportation procurement is managed.
Blog " * " indicates required fields Email * Comments This field is for validation purposes and should be left unchanged. Asia-US East Coast prices(FBX03 Weekly) fell 8% to $6,107/FEU.
This means that the industry continues to move in the direction of improved shipping technology. The abundant data sources can make the process of assessing the market more difficult than necessary. Shippers and carriers should make more definitive decisions in selecting their data sources. Download the White Paper.
Blog " * " indicates required fields Email * Phone This field is for validation purposes and should be left unchanged. Despite this, there’s a wave of optimism for 2024 sweeping across importers and exporters. About 46% of importers expect demand to stabilize, and 41% even anticipate an improvement.
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.
Optimize Inventory. Having a transparent and detailed account of what inventory you are currently holding will help you optimize your inventory levels while allowing you to be responsive to market demand. Improve Demand Forecasting. Start with a detailed overview of what inventory is currently in your supply chain.
Blog " * " indicates required fields Email * Email This field is for validation purposes and should be left unchanged. In this blog post, I describe the different paths these modes took and where things stand at the close of 2023. It is indeed “A Tale of Two Modes,” each with its own story, pace, successes, and snags.
Blog " * " indicates required fields Email * Name This field is for validation purposes and should be left unchanged. Asia-US East Coast prices (FBX03 Weekly) climbed 5% to $2,497/FEU.
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.
This is particularly true for truckload shipping procurement. Read on to see how these innovations can help with truckload shipping procurement. Shipping managers continue to struggle with capacity procurement during this time of industry-wide disruption . Truckload shipping procurement needs to include all legs of the trip.
This blog will delve into the current state of driver availability, its causes, consequences, strategies for mitigating the challenge, and future outlooks and long-term solutions. By optimizing routes, companies can ensure that drivers spend less time on the road and more time fulfilling orders, therefore increasing productivity.
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 $4,278/FEU.
Home Shipsta by Freightos Introduces Rate Refresh: The Future of Agile Procurement in 2025 Blog Luxembourg, December 3, 2024 – Shipsta by Freightos (Nasdaq: CRGO) continues to drive freight procurements evolution with the rollout of Rate Refresh, a key addition to its procurement platform. Why Rate Refresh?
Blog More Resources Home Shipsta by Freightos Introduces Rate Refresh: The Future of Agile Procurement in 2025 Visit Shipsta by Freightos Luxembourg, December 3, 2024 – Shipsta by Freightos (Nasdaq: CRGO) continues to drive freight procurements evolution with the rollout of Rate Refresh, a key addition to its procurement platform.
Digital freight matching is growing more valuable as a way to source meaningful capacity Companies and freight managers that have embraced digital technology and automation remain more likely to thrive. And it has opened new channels for capacity procurement. Request a SONAR Demo. It’s that simple.
Routing guides are a universal source of carrier freight tendering and action. 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 SONAR Demo. Request a SONAR SCI Demo.
Blog " * " indicates required fields Email * Comments This field is for validation purposes and should be left unchanged. Asia-US East Coast prices (FBX03 Weekly) were also level at $2,367/FEU.
Obviously, the ability to improve truck and trailer order forecasting offers excellent value for carriers. When the data is collected and made more available and accessible, carriers and logistics service providers (LSPs) can improve trucking operation decisions. Trucking data can offer near-real-time insight into current markets.
And demands for 2021 already reveal strife in procurement in the shipping industry and visibility through all operations, including carrier troubles. For those trying to obtain freight procurement, says Uber , volatility is the name of the game. Request a FreightWaves SONAR demo by clicking the button below.
But transportation optimization , knowing when to tender freight, take advantage of company-owned assets, and outsource are other issues. The world of transportation sourcing and management is only getting more complicated. The first step in building a successful supply chain is to start with vendor sourcing.
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.
collections_bookmark Blog |. Platform keyboard_arrow_down Platform keyboard_arrow_down Platform Power The feature-rich functionality to manage all modes, in all geographies, while optimizing route, rate, and end-to-end processes. Request Demo. 7 Ways Transportation Companies Can Improve Customer Experience. close Close.
Blog " * " indicates required fields Email * Name This field is for validation purposes and should be left unchanged. Asia-US East Coast prices (FBX03 Weekly) were level at $2,509/FEU.
Among enterprise companies, one critical aspect of successful negotiation and capacity procurement is a better predictive outlook of both spot and contract truckload rates. Request a SONAR Demo. Request a SONAR SCI Demo. Tracking market trends within truckload rates relies heavily on data and analysis. Download the White Paper.
With mini-bids, carriers have an opportunity to focus more time and resources on specific lanes, improving the balance of their freight networks. Weather issues and delays continue to be the most common source of fluctuation and disturbance to the modern supply chain. Think about it.
Knowing the lead time helps warehouse managers understand when to restock inventory, allocate drivers, source more capacity, and take other necessary steps. And the same functions can be used to improve relationships with asset-based freight brokers and other intermediaries. Request a SONAR demo today. Request a SONAR Demo.
Blog " * " indicates required fields Email * Comments This field is for validation purposes and should be left unchanged. Elevated freight rates are leading to expectations that carrier profitability will improve in 2024. Asia-US East Coast prices (FBX03 Weekly) increased 58% to $3,980/FEU.
And it’s important to understand how improvements in drayage planning , considering TEU activity as shown in the Top Imports by Consignee app within the Ocean Shipments Report in FreightWaves SONAR, amount to proactive supply chain management. They further depend on multimodal transport and optimized routes to transfer goods.
In this post we’ll explain the top inventory replenishment methods they use to improve profitability right across their supply chain. Here’s our top five that specifically focus on improving your profitability. But striving for the cheapest unit price isn’t always the most cost-effective way to procure a product.
The problem: Shipping demand management includes a need to source capacity around the clock Capacity rules when it comes to keeping the supply chain moving and the trucks full. Sourcing capacity and load contracts require the constant attention of management. Request a FreightWaves SONAR demo today by clicking the button below.
This is where supply chain digitalization projects can help to automate simple processes, improve efficiency and save money. Finding optimal healthy stock levels isn’t easy. With accurate demand forecasting information, inventory managers can set optimal stock levels to meet demand while keeping costs to a minimum.
.” The 2024 Market Guide noted that “New digitalization initiatives, the increasing adoption of e-commerce, and the need to optimize transportation costs to improve the end-consumer experience and increase brand engagement are some of the challenges LMD solutions must solve. Take a look at our demos!
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