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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.
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.
Packaged food companies are raising prices to offset (at least a portion of) the rising costs. The counterpoint is that the economy is growing quickly and, since prices are rising everywhere, price increases to consumers are more likely to stick. FILL OUT THE FORM BELOW TO ACCESS A COPY OF THE WHITEPAPER.
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. Download the WhitePaper.
The importance of an omnichannel supply chain strategy cannot be overstated. What’s Wrong With Omnichannel Supply Chain Strategy and Customer Service? Poor performance of new offerings leads to reduced profitability, reports McKinsey & Company. Download WhitePaper. GET YOUR COPY HERE.
So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. BONUS : Download the Guide To LTL Freight Mangement WhitePaper. 10 LTL Procurement Cost Cutting Tips. Gather quality shipment data reflecting all LTL movements for the past 12 months.
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 Why outdated data hurts carriers in the short- and long-term.
Figuring out how to improve annual request for proposal (RFP) bidding strategies remains elusive for many shippers, especially in the context of knowing when to expand the network to leverage freight consolidation. The process typically starts with gathering data from their freight payment provider or system. Download the WhitePaper.
As explained by the Harvard Business Review , “consumers will continue to want low prices (especially in a recession), and firms won’t be able to charge more just because they manufacture in higher-cost home markets. Prioritizing moves based on inbound and outbound data trends. Tracking and applying equipment data insights.
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.
To achieve lasting success, shippers need to understand how e-commerce shipping strategies are quintessential steps in this process. WHITEPAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018. Download WhitePaper. This is the making of an effective e-commerce shipping strategy.
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. Download the WhitePaper.
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. Download the WhitePaper.
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. Download the WhitePaper. Lack of planning to plan for rises in fees and expenses.
Through data-driven transportation management , carriers can finally become more strategic and tactical, thriving through good and bad times. Achieving that goal hangs on a carrier’s ability to capture meaningful data. Autonomous processes are only as valuable as the data that powers algorithms and decision-making.
This “SONAR highlight reel,” which we publish every other week, is intended to concisely hit data highlights and trends in truckload, intermodal and maritime. While CMA CGM capped its spot rates, vessel charter prices, congestion, and even overall spot rates show no signs of easing. Request a SONAR Demo. Request a SONAR SCI Demo.
Mobile data can play a pivotal role in building the supply value chain. Mobile devices have functions that provide valuable data for the supply value chain. Mobile devices have proven optimal for implementing innovative strategies, connecting freight loads with other equipment and assets , and more. Download the WhitePaper.
Capture and analyze data inside and outside of your network to benchmark performance. The biggest barrier to efficiency in supply chain agility rests with an inability to see, capture or analyze freight data. There are numerous data providers in the world, but the question becomes, “what does an organization do with that data?” .
This “SONAR highlight reel,” which we publish every other week, is intended to concisely hit data highlights and trends in truckload, intermodal and maritime. FILL OUT THE FORM BELOW TO DOWNLOAD THE FREE WHITEPAPER. Import volume levels continue to outperform year-ago levels. Request a SONAR Demo. Request a SONAR SCI Demo.
Yes, the need for shipping demand analytics is not new and was echoed in 2013 by Industry Week , “Relying on traditional supply chain execution systems is becoming increasingly more difficult, with a mix of global operating systems, pricing pressures and ever-increasing customer expectations. That’s where data analytics comes in.”
Tracking market trends within truckload rates relies heavily on data and analysis. This kind of real-time data analysis and application is essential for shippers to stay strategic and tactical as they forecast out contract and spot truckload rates. Data-driven insights provide a rubric for guiding RFP processes.
One year ago, we wrote a whitepaper in which we estimated that the top five paper and packaging companies in the U.S. We estimate that the largest paper company could save ~$23 million in freight spend pretax from a hypothetical reduction in freight spending of 1%. Request a SONAR Demo. Request a SONAR SCI Demo.
Just a few years ago, many faced repeated price increases of more than 10-15 percent over . Regardless, there’s a few other ways that more technology and strategic partnerships can add value, particularly in terms of data and centralized freight management. . Download the WhitePaper: Over the Road Freight Management Trends.
H aving access to real-time freight data and being able to make good use of it is essential for global trade and maritime shipping. Global retailers use data to understand lead time Successful supply chain operation at any stage hangs on the ability to stay on top of shipping and transport logistics. Download the WhitePaper.
There’s a broad range of options to reduce rates and increase carrier revenue. 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. Download the WhitePaper.
This struggle can finally come to an end through the use of modern analytics and data management. Such applications of freight technology allow carriers to improve their systems across the board, improving profit margins, reducing load times, streamline shipping, and many more benefits. Download the WhitePaper.
As demand for e-commerce accelerated, notes John Koetsier of Forbes , trucking carriers gained extreme favor in pricing power. In turn, carrier freight pricing guidance must be attuned to the fluctuations within individual needs, and that’s despite the use of end-to-end trucking analytics. At the same time, data is not created equally.
Figuring out the best strategy for managing fleet assets can be difficult at best. Unlike contracted rates, the spot freight market is full of wild price swings and uncertainty. The data analyzed within today’s freight market goes back to the beginning of digital transformation. Download the WhitePaper.
Smart and practical trucking data is critical for the modern supply chain network. They tend to follow similar lines and influence services and prices throughout transportation networks. Download the WhitePaper. This gets easier to accomplish with tailored benchmark data analysis. .
Shippers want a significant reduction in the stress of logistics. With that in mind, the trucking RFP has come into play as a more significant undertaking for 2021 contracts as the freight market saw volatility in 2020 on the spot market due to historic tender rejections and volumes adding to increased prices. Download the WhitePaper.
Improve end-to-end visibility to reduce idle time and wasted resources. Apply big data through advanced analytics to understand current load rates, including predictive modeling of future rates. Apply big data through advanced analytics to understand current load rates, including predictive modeling of future rates.
on-highway diesel fuel prices are up $0.898 from the end of August 2020. Download the WhitePaper: Over the Road Freight Management Trends. Many faced repeated price increases of more than 10-15 percent over just a few years ago. Enabling Data-Driven Decision-Making. ?Access According to the?
Awareness of these challenges can ensure that shippers and LSPs remain prepared for market deviations and overall freight pricing changes. Pricing alignment. Pricing alignment makes for one of the more complicated challenges for asset-based trucking. The volatility makes it difficult to assess pricing. Think about it.
Supply chain leaders continue to focus their efforts on finding the right mix of assets used, market positioning and carrier freight pricingstrategies. When the freight market meets expectations and is less volatile, it is easy for shippers and carriers to not look at inefficient processes or their transportation procurement strategy.
Market volatility remains among the most impactful and essential of all freight analytic data that shippers and carriers need to monitor. Simultaneously, the data can tap into market volatility insight and contribute additional value when the annual RFP bidding process rolls around. Download the WhitePaper.
And the transportation and shipping industry has a choice to make – to take advantage of trucking data or to ignore it, continuing as before. . Access to data and proper analysis are both essential to maximize profits and reduce costs. Real-time trucking data helps to secure more capacity and better shipping rates.
But that concept often falls by the wayside in supply chain analytics, especially when assessing the accuracy of predictions using freight data or a forecasting engine. Predictive insights take massive amounts of data from market conditions and yield a potential outcome of what is likely to occur. USA and FWSR28.USA
Every shipping mode and method can benefit from access to accurate, real-time freight data. For instance, consider these top uses of data and calculators within existing systems: Trucking metrics can benefit from clear data highlighting key areas of profit and loss within the fleet. Download the WhitePaper.
More recently, with the rise of interconnected systems, the analytics to derive value from those systems seems, and decreased costs, RFID is resurrecting as a solution for increasing supply chain management (SCM), visibility into processes, and reducing inventory tracking costs. Download whitepaper.
Using real-time data , freight managers can finally begin to recognize their opportunities for better business relationships. Of course, that depends on securing shipping data insights well in advance of disruptions’ arrival. Failure to secure dynamic pricing mechanisms leads to unneeded mini-bids. Download the WhitePaper.
Warehouse managers face constant pressure to move more products, reduce damage, improve order cycle times, boost employee morale, and more. Migrating data to new systems without researching prospective systems or taking care in planning could result in catastrophic loss and damage to a company’s database. Download whitepaper.
Download the WhitePaper. And having access to freight data on the fly is critical to maximizing asset utilization and load profitability. Unify pricingstrategies with freight forecasting tools The final step to getting more from your fleet requires freight forecasting tools.
The Transportation Air Cargo Index measures the price per kilogram on the spot market to move freight through the air in multiple lanes — in this instance, Hong Kong to North America. Download the WhitePaper. A large shift of balance could dramatically change freight pricing over the next several years.
More freight brokers are turning to technology and transportation data to grow their businesses by understanding the true freight market rate. . It’s not solely about knowing basic rates – it’s about using freight data to make the best decisions for all loads – playing both the buy-side and sell-side aspects of freight brokering.
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