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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?
Therefore, produce ready for shipping may be stalled due to a limited supply of equipment and trucks (hindering capacity procurement ), fewer drivers, and the pressure everywhere to move things faster, save money, and get it done without impacting the customer experience. But back to the overarching point.
Some observers anticipate that the strike will still lead to some capacity and equipment shortages at Asian origins in early November. At the same time, Red Sea diversions’ drain on capacity are still keeping these prices about triple their level a year ago.
The maritime industry has been in peak season mode since the middle of last year and import volumes have been consistently higher year-over-year. Both factors highlight the very tight capacity environment heading into peak season, which will likely get even tighter during the next two months. Request a SONAR Demo.
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.
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. What does WRI say about capacity and shipping rates? What is the Weighted Rejection Index (WRI)?
Truckload rates have a significant impact on the industry, whether intermodal or single-lane shipping modes get utilized. To survive trends like these and to cut costs as much as possible without cutting quality or losing capacity, changes must occur. Request a SONAR Demo. Request a SONAR SCI Demo.
That information then leads to improved rates, capacity, and several other benefits. Near-real-time data enables predictive modeling of rates, capacity, volumes and rejections. Real-time freight data allows for better predictive modeling of rates, capacity, volumes and tender rejections. Request a SONAR Demo.
Successful freight brokerages combine networking and business skills to add capacity through carrier sourcing to secure more customers’ loads. As reported by Business Wire , the freight brokerage industry “is poised to grow by $41.47 Near-real-time data in day-to-day operations keeps rates and capacity as accurate as possible.
Here are 10 shipper of choice tips to help enterprises secure capacity and improve relationships with carriers, not to mention transportation brokers. Get started by clicking the button below to request a FreightWaves SONAR demo today. Request a SONAR Demo. Focus on dock experiences for drivers.
10 Reasons the Retail Industry Should Invest in a Last-Mile Delivery Solution. Original Article: 10 Reasons the Retail Industry Should Invest in a Last-Mile Delivery Solution. Every industry has dealt with the fallout or repercussions caused by COVID-19 -related disruptions to the supply chain.
T he apparel industry, for instance, is bracing for a prolonged period of low activity. Demo in Network Design Navigator . Companies may not be able to adequately ramp up capacity and lose sales. Capacity shutdown in S&OP Navigator. Study 5: Refine Capacity Smoothing (click to view demo and more information) .
Such activity demonstrates that centralized freight forwarding is essential to managing the growing complexity of these forwarders, and consolidation of forwarding services can help solve the top challenges facing the freight forwarding industry and shift toward automation in logistics , including the following. Cyberattacks.
During the event, Rishi Mehra, director of operations and strategy, and Kelly Williams, product manager, had just seven minutes to present a Rapid-Fire Demo of Engage Lane: an agile transportation procurement platform that streamlines the relationship between carriers and shippers and helps them uncover better ways to move freight.
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. Reporting Comes Standard, Even Reporting that Shows Exactly How Parade is Performing Transparency plays a key role in the freight industry.
One of the biggest benefits freight brokerages see from capacity management solutions is the ability to negotiate with their carriers for better rates on loads. In today’s , carrier-ruled market , where capacity is tight and rates are high, that’s more important than ever.
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.
According to Supply Chain 24/7 , “ In the industry right now, there are 10 orders to ship for every available truck; however, a large portion of private fleets are running their assets with a significant amount of empty backhaul miles. Request a FreightWaves SONAR demo today by clicking the button below to get started.
The interconnected nature of global supply chains means these disruptions are not contained, theyre rippling across industries. Heres What Can Happen in The Coming Months Manufacturing Slowdowns: Major production hubs may face labor shortages, potentially causing factories to operate below capacity.
Asking the right questions can help make sure your capacity management solution helps you achieve your goals. Choosing the right capacity management vendor can be complicated. However, capacity management is a little more complicated than that. Your capacity management provider should offer you success on your terms.
Asking the right questions can help make sure your capacity management solution helps you achieve your goals. Choosing the right capacity management vendor can be complicated. However, capacity management is a little more complicated than that. Your capacity management provider should offer you success on your terms.
The fourth quarter is the time of year the transportation industry always looks forward to. The retail holiday season is when time sensitivity tends to ramp up, demand is at or near the highest level of the year, and capacity comes off the road for the holidays. The post Prepping For The Retail Rush appeared first on SONAR.
Some carriers have announced blanked sailings in response to the congestion, but may also be adjusting capacity to the lower, post-peak season volumes. As long as Red Sea diversions continue to absorb capacity on an industry level, prices may not fall much further than seen back in April.
Judah Levine November 15, 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) increased 6% to $1,711/FEU. Asia-US East Coast prices (FBX03 Weekly) climbed 3% to $2,421/FEU.
And the transportation and shipping industry has a choice to make – to take advantage of trucking data or to ignore it, continuing as before. . There are many ways for shippers to take advantage of technology and advancements within the industry, but three key methods are essential for utilizing trucking data to source capacity.
The Industrial Relations Board ordered operations to resume in Vancouver, Prince Rupert and Montreal, and sent operators and port worker unions to binding arbitration, with ports reopening late last week. Freight news travels faster than cargo Get industry-leading insights in your inbox. China – N. And at $4.00/kg,
Rates declined because capacity softened. SONAR’s predictive capacities showed that tender rejections and lower volume gave the signal for rates to begin to fall early in January. SONAR offers historical and current freight rate, demand and capacity index data across all modes. Request a SONAR Demo.
The effects of the disruptions over the past year have likely forever changed the industry, requiring shippers to scale and evolve operations radically seemingly overnight. Using digital freight matching platforms is the best strategy to secure meaningful and practical capacity. And it has opened new channels for capacity procurement.
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. Freight news travels faster than cargo Get industry-leading insights in your inbox.
Should these rate increases stick, the common driver supporting them would be the combination of increasing demand with the market’s overall capacity being fully employed due to Red Sea diversions – with Houthi attacks continuing this week – even as the global fleet continues to grow on new vessel deliveries.
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.
Tracking the top key performance indicators for shipping industry success, or supply chain KPIs , means boiling them down the essence of these 10. Another excellent way to gauge activity within the industry surrounds the volume of new truck orders by class. As with any industry, enterprises cannot improve what they do not know.
Less-than-truckload shipping, also known as LTL shipping, is nothing new within the transportation and shipping industry, but it has become more of a game-changer in recent years with freight rate prediction. Major shippers and transporters have only so much space available to work within LTL shipping capacity. Request a SONAR Demo.
Peak season demand coinciding with Red Sea-driven capacity constraints and congestion has now pushed Asia – N. An increase in transhipment has caused intra-Asia and Asia/S.Asia – Middle East volumes to climb, with congestion and capacity shifts to other lanes also contributing to higher ocean rates on these lanes.
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.
Judah Levine March 12, 2024 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) fell 7% to $4,419/FEU. Asia-US East Coast prices(FBX03 Weekly) fell 8% to $6,107/FEU.
With the proper use of data and freight analytics , contract procurement and securing capacity can be enhanced. Lacking data promotes trouble in annual contract capacity procurement during times of volatility. Using analytics will save time and help avoid problems securing LTL freight rates and capacities by pointing out opportunities.
Contract rates account for a considerable percentage of trucking industry loads. Spot rates make up a minor part of the industry. Limited capacity. Limited freight capacity also creates problems for asset-based trucking carriers. Limited capacity means that truckload and delivery times suffer. Request a SONAR Demo.
With capacity already tight due to Red Sea diversions, rates last week climbed to $4,151/FEU to N. Europe, this demand increase while capacity is already scarce is pushing transpacific rates up sharply with West Coast prices up 33% from the April floor to $3,873/FEU last week and East Coast rates up 19% compared to April to $5,093/FEU.
And there remain significant problems within the industry. Trucking capacity is tight, and deadheading is the precursor of even stricter capacity. One of the biggest challenges facing the industry right now is deadheading. Waste matters in the shipping industry because every instance leads to higher freight costs.
The last time the rate was this low was early 2020, when the freight industry was still coming off of a depressed 2019 and before the COVID-related freight surge took hold of the industry. That hasn’t happened lately, likely due to the availability of capacity. The average intermodal spot rate of $1.47
Judah Levine November 28, 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) increased 3% to $1,613/FEU. Asia-US East Coast prices (FBX03 Weekly) fell 1% to $2,362/FEU.
And in some industries, outdated data can have disastrous consequences. For instance, take the value added by more accurate data in the health industry. As seen with the recent weather turmoil, that can amount to recognizing when freight movements are likely to tighten capacity. Request a SONAR Demo.
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.
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