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Recent research across 50+ procurement professionals found them most concerned with the impact of external factors on operations, with rising costs ( 55% ), geopolitical disruptions ( 45% ) and capacity constraints ( 38% ) at the top concerns. Why Rate Refresh?
In this edition of “SONAR Indices & Insights,” readers will learn about FreightWaves SONAR’s Weighted Rejection Index (WRI) to monitor trucking capacity in the freight market and the impact rejections have on shipping rates. For example Atlanta’s OTMS value is 4% and outbound rejections increased from 3% to 5% over the past seven days.
The reasons for a carrier to reject the load tender are: 1) lack of trucking capacity; and 2) the rate is too low. A change in reefer trailer capacity can also help explain why capacity, in general, has changed, as those reefer trailers are not available for other types of freight. As load volumes increase, capacity tightens.
Here are 10 shipper of choice tips to help enterprises secure capacity and improve relationships with carriers, not to mention transportation brokers. The best examples of shippers of choice provide services along several trucking routes. Get started by clicking the button below to request a FreightWaves SONAR demo today.
The examples below show you how to do this in AIMMS SC Navigator Apps, but we encourage you to study these scenarios in the tools you have at your disposal. . Demo in Network Design Navigator . Companies may not be able to adequately ramp up capacity and lose sales. Capacity shutdown in S&OP Navigator.
Parade’s approach to capacity management is different from the rest in several ways. Parade is considered the top capacity management solution by most of the supply chain industry. What they don’t say in so many words is that that wider capacity network may come from access to the networks of other brokerages on the platform.
Freight capacity demand continues to congest delivery schedules, putting global supply chains in a state of strain today. What’s covered in this article: Port congestion exacerbating capacity shortage. Economic activity has felt the effects of border closures, capacity demand and industry halts resulting from the COVID-19 pandemic.
Many LTL industry trends, including capacity limitations, increasing accessorials, surcharge rates, changes in market trends and buying patterns, are almost certain to continue through 2021 and for some time to come. Major shippers and transporters have only so much space available to work within LTL shipping capacity.
FreightWaves SONAR is releasing new indices – Capacity Trend Market Scores and Capacity Trend Market Direction – to help shippers, carriers and brokers prioritize specific routes daily. Capacity Trend Market Scores Capacity Trend Market Scores are divided into two perspectives – shipper/broker and carrier.
Judah Levine Optimize your logistics tendering, vendor selection, negotiations, and procurement Book a Demo Weekly highlights Ocean rates – Freightos Baltic Index Asia-US West Coast prices (FBX01 Weekly) increased 3% to $1,609/FEU. Asia-US East Coast prices (FBX03 Weekly) climbed 7% to $2,357/FEU.
Judah Levine December 6, 2023 Optimize your logistics tendering, vendor selection, negotiations, and procurement with Freightos Data Book a Demo Weekly highlights Ocean rates – Freightos Baltic Index Asia-US West Coast prices (FBX01 Weekly) were level at $1,620/FEU. Asia-US East Coast prices (FBX03 Weekly) were also level at $2,367/FEU.
Is it freight pricing models, capacity constraints, lackluster carrier density or something else? As an example, it may be necessary to leverage drop shipping to give a manufacturer the opportunity to fill the order and manage its transportation process. Click the button below to request your SONAR demo today.
Dive deeper into freight data that matters Stay in the know in the now with instant freight data reporting Sign up for Free Analysis Ocean peak season’s early arrival together with Red Sea diversions straining capacity and schedules continued to result in worsening congestion, equipment shortages and elevated prices this week.
As an example, World Finance reported that Bryan Trucker, Vice President of Corporate Communications at CSX, stated , “CSX became the first U.S. Higher reliability and capacity. When capacity is ample among trucking carriers. Request a SONAR Demo. Request a SONAR SCI Demo. Increased overall safety during transport.
The significance of this region’s having the most elevated rejection rates is simply that it is breaking a multiyear pattern of relatively loose capacity conditions and minimal volatility. While capacity remains abundant in the domestic freight market, the flow of freight is not balanced. To request a SONAR demo, click here.
For example, the Outbound Tender Volume Index (OTVI) is a 7-day moving average of shippers’ requests for capacity. Tender rejection rates are one way to understand the current spot market, as tender rejection rates are a measure of relative capacity in a market. Request a SONAR Demo. Request a SONAR SCI Demo.
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. As seen with the recent weather turmoil, that can amount to recognizing when freight movements are likely to tighten capacity.
For example, initiating a recall is streamlined through blockchain by showing all movements of affected shipments. For example, an e-commerce warehouse using a blockchain-based system like a smart contract could automate payments processing. Payment Management Forms Another Key Freight-Use for Blockchain-Based Systems.
For example, consider the following benefits of blockchain in the supply chain : Traceability allows for the corruption-proof means of tracking goods, raw materials or shipments in real-time. Faster processing applies to payment management, securing available freight capacity, load planning and more.
Today, shippers are demanding more availability, time and capacity, and truckers are struggling to meet these demands. For example, according to Geotab.com , this has an additional implication for tracking detention time and pay. billion in 2015, reports TechCrunch.
Consider this example. As e-commerce peak season ramps up, more organizations will see available drivers and capacity dwindle. Without supply chain visibility, a retailer cannot realistically move freight to other markets to take advantage of trucking capacity. Consider this example. . Request a SONAR Demo.
Asia and Africa lanes, which may likewise indicate that more capacity is becoming available across networks as a result of easing conditions on the main trade lanes. But the biggest contributor to easing rates may be the early start to peak season for North America and Europe. Even as volumes have increased since May, destination ports in N.
Some West Mediterranean ports , for example, are now being used as transshipment hubs for East Mediterranean-bound containers, leading to some congestion there, and terminals in Colombo, Sri Lanka are also facing some backlogs as volumes have increased there for transhipment to the Middle East. America rates climbing 14% to $2.88/kg
To further drill into this example, consider an individual lane with high market volatility. That amounts to using analytics to save on truckload procurement with better freight rates , to avoid problems securing capacity and to stay tactical with up-to-date insights. Request a SONAR Demo. Request a SONAR SCI Demo.
Despite these efforts, to date the attacks continue, pushing most major carriers representing over 60% of global container capacity, to alter their routes. For example, the Freightos Baltic Index indicates a 69% increase to North America’s East Coast and a staggering 226% to Northern Europe since the crisis began.
Enterprise shippers need a proactive strategy to secure capacity One of the biggest challenges that shippers face remains to secure capacity. Along with this keeping, the fleet loaded to maximum capacity is essential. The improved insights amount to greater capacity and lane control. Request a SONAR Demo.
Example: Retail sales for food and beverages (RESLG.FBEV) compared to reefer capacity (ROTRI.USA). Shippers: Companies that ship freight will know that retail and consumer products make up a large portion of all freight capacity that is currently on the road or in the process of load planning. Request a SONAR Demo.
Market activity describes the nationwide and granular trends affecting available capacity, timeliness of transit and on-time, in-full deliveries. As an example, freight trucking companies should also track a few granular fuel factors, including: Forecasted Overnight Change in ULSD Rack Price (FULSDO). Request a SONAR Demo.
When freight market participants are able to get a leading indicator instead of historical data, they are able to proactively plan for assets needed, capacity, and the potential price of freight for drayage and surface transportation moves that head to inland markets after ocean shipments go from the port to roads. Request a SONAR Demo.
As reported by Forbes , “Many companies, for example, have moved to e-commerce[…]This means shipping via B2C channels versus B2B channels. After all, import activity is one of the leading indicators of added pressure on truckload logistics and sourcing capacity. Request a SONAR demo online today. Request a SONAR Demo.
Shippers will not be willing to accept a lack of trucking capacity or last-minute price changes in an industry that is becoming more transparent. As an example for these negotiating capabilities, let’s take a look at the following lane, Los Angeles, CA to Dallas, TX. Request a SONAR Demo. SONAR is near-real-time data.
And a failure to ensure trucking capacity availability within one market will have a resounding effect on allocation strategies of a trucking fleet’s assets. After all, those translate directly into where a company will put its assets in the short-term and where capacity can rapidly scale to meet demands. Request a SONAR Demo.
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. . The higher the stability score, the more consistent the rate and capacity are on a given lane, resulting in a consistently high rate of tender acceptance.
As an example, explains Trade Gecko , fleet managers should “choose a 3PL that can handle your current volume, but that also will be ready to handle your volume if you suddenly add a bunch of new stock, increase your stock volumes, or have a great spike in sales. Request a FreightWaves SONAR demo by clicking the button below. .
Have you taken any steps to increase capacity utilization? As a few examples, these are four critical KPIs to focus on: Owner-operator to driver ratio – A lower ratio here means more opportunities for in-house drivers who bring more affordable rates. . Request a FreightWaves SONAR demo by clicking the button below now.
For example, we don’t know where the next tsunami or hurricane will hit. Let’s consider some examples. Do I know how to quickly find extra capacity, and how to re-allocate demand in a cost optimal manner? Contact us for a demo if you’d like to learn more. Agility and Resilience.
For example, just-in-time fulfillment models, drop-shipping, and cross-docking avoid wasted space. For example, market conditions show shippers’ rate trajectories. Higher port activity leads to tighter trucking capacity in portside O/D pairs. Leading by example, supply chain managers can make more proactive decisions.
However, the data [that powers them] hasn’t previously been utilized to its full capacity until recently.” Take the example of RCRPMF.USA in the image. These are just a few examples of how poor application of data analytics for logistics can affect every aspect of the reefer supply chain. Request a SONAR SCI Demo.
It improves asset and capacity utilization and revenue per driver per week. For carriers, that means seeing real-time market dynamics, rejecting low-priced spot freight when trucking capacity tightens and planning ahead. For example, avoiding trips to areas with ample capacity might seem odd. How Carriers Use SONAR.
This includes shipment times, capacity , market information, and many other valuable items. For example, any redundant process needs current data, which provides shippers with several benefits. Get started by requesting a FreightWaves SONAR demo by clicking the button below. Request a SONAR Demo.
Domestic transportation networks can better collaborate load capacity to reduce wasted miles and space. Request a FreightWaves SONAR demo to get started, or click the button below. Ocean freight managers will be able to easily calculate expenses vs profits to secure the best loads. . That’s what SONAR offers.
The examples below show you how to do this in AIMMS SC Navigator Apps, but we encourage you to study these scenarios in the tools you have at your disposal. . Demo in Network Design Navigator . Companies may not be able to adequately ramp up capacity and lose sales. Capacity shutdown in S&OP Navigator.
For example, consider these potential value fluctuations that can be set within FreightWaves SONAR alerts: Current value Change relative to the previous value Percent change relative to previous value 52-week high 52-week low Volume Daily % change Weekly % change Monthly % change Yearly % change. Request a SONAR Demo.
Today we're sharing 3 features to help you maximize the benefits of Parade's capacity management. It could be used to learn where you have capacity, what kind of capacity you have, and give those carriers the exact loads they want to run. #2. For example, if you’ve got a carrier that says they hate L.A.
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