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To help carriers learn how to apply and deploy data more effectively, this whitepaper will explore: The uses of data to allocate and manage assets. How carriers create data-driven pricingstrategies. Fill out the Form Below to Access a COPY of the WhitePaper. 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. Download the WhitePaper. Strong and versatile logistics strategies depend on this data.
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.
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. Why are shippers turning to freight consolidation to reduce transportation spend? 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. Fill out the Form Below to Access a COPY of the WhitePaper. Request a SONAR Demo.
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.
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. ” This means knowing how a carrier or shipper approaches freight pricing.
While CMA CGM capped its spot rates, vessel charter prices, congestion, and even overall spot rates show no signs of easing. Delays near ports, such as in San Pedro Bay, are reducing trans-Pacific capacity by ~20% and are keeping ocean capacity very tight. FILL OUT THE FORM BELOW TO DOWNLOAD THE FREE WHITEPAPER.
In the rail industry, we believe that mounting pressure from an activist investor may mark a dramatic shift in focus at Canadian National Railway from an approach that balances volume, pricing and margins to an approach that is overly focused on cutting costs and capital expenditures at the expense of service levels.
And if shippers know more about how carriers price freight, they are better able to identify those trends based on market signals and pre-empt carrier pricing changes. . Download the WhitePaper. Generate stronger, more proactive carrier pricingstrategies based on near-real-time data insights .
For managers in the transportation industry, freight load pricing accuracy remains a source of confusion and disruption. Download the WhitePaper. Remember that carrier pricing is subject to the following: Market conditions can change quickly and shift hour by hour at times. . Request a SONAR Demo.
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.
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. Download the WhitePaper.
There’s a broad range of options to reduce rates and increase carrier revenue. Track truckload freight accessorial costs As reported by Inbound Logistics , “Carriers price accessorials, such as liftgate or non-commercial delivery, at a premium. Download the WhitePaper. Hold suppliers accountable for compliance.
This means that companies with access to near-real-time data could potentially save by the elimination of lagging data. Download the WhitePaper. Spot data and contract data, including paid invoice rates, come together to fuel your strategy. Fuel and energy data also provide useful information in preparing a strategy.
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.
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. Even with the big decline last year, spot prices have averaged 2%. Download the WhitePaper. Request a SONAR Demo.
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.
They tend to follow similar lines and influence services and prices throughout transportation networks. According to Supply Chain 24/7 , “ truckload service optimizes trailer space and moves freight [without extra stops that will] eliminate wasted trips, reducing greenhouse gas emissions by up to 40%.”
Download the WhitePaper. This can help reduce uncertainty in the various lanes and reduce the network’s impact. Market disruptions happen, but prior preparation and planning for as much as possible can reduce their impact on the supply chain.
Improve end-to-end visibility to reduce idle time and wasted resources. Analytics-driven processes must continue to remain the primary strategy for all managers today to improve profitability and increase revenue per driver and per load. Download the WhitePaper. Price per mile driven. Employee hours worked.
Increasingly, however, it is also critical for shippers, brokers, and carriers to know when rates ebb and flow allowing freight market participants to adjust budget forecasts, know how a carrier prices freight rates, and understand the services offered to justify the rates carriers are offering. Download the WhitePaper.
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.
Carriers simply need to know where to send trucks and the proper freight rating or pricingstrategies to use. Download the WhitePaper. That will go a long way in reducing operating ratios and increasing fleet utilization. Request a FreightWaves SONAR demo by clicking the button below to get started.
Poor tender acceptance strategies. Download the WhitePaper. If an incoming tender has a destination with minimal backhaul opportunities, carriers should price that tender based on the total costs, including the lost revenue that may result from driving empty miles. Request a SONAR Demo. Empty miles.
Download the WhitePaper. Unify pricingstrategies with freight forecasting tools The final step to getting more from your fleet requires freight forecasting tools. If a company’s staff can see what may occur based on current trends, they can better assign prices for loads. Request a SONAR Demo.
Download the WhitePaper. Thus, more companies are turning to predictive maintenance strategies to extend asset life expectancy, reduce the chance of breakdowns and increase throughput. Boost fleet asset utilization with pricing and tendering data at your fingertips. Request a SONAR Demo.
Download the WhitePaper. And according to a report by Parcel , accessorial prices keep growing year after year and are now estimated to account for a staggering 40% of shipping costs and expenditures. Request a SONAR Demo. Request a SONAR SCI Demo. Request a SONAR SCI Demo. appeared first on SONAR.
Trucking pricing tends to be much more volatile thanks to much more dynamic networks and customer base. Download the WhitePaper. While not eliminating the need for containers, this could dramatically reduce the time spent on the rails as freight moves over shorter distances. Request a SONAR Demo.
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.
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. USE ANALYTICS TO PROVE THE CASE FOR PRICING CHANGES. Request a SONAR Demo.
Mobile devices have proven optimal for implementing innovative strategies, connecting freight loads with other equipment and assets , and more. Download the WhitePaper. Shippers with access to existing data can better predict freight pricing for freight shipments. Request a SONAR Demo.
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. Download the WhitePaper.
Failure to secure dynamic pricing mechanisms leads to unneeded mini-bids. Contracts must include dynamic pricing mechanisms to avoid unnecessary freight mini-bids. Taking this action amounts to a more proactive, productive shipping strategy. Download the WhitePaper. Request a SONAR Demo.
Instead, knowing how well those truckload rates stack up is critical to maximizing their use and pricing or buying strategies. Download the WhitePaper. Find out how your enterprise can benefit from the platform to navigate the freight market by requesting a FreightWaves SONAR demo via the button below today.
However, there are solutions available that can make the task of cutting costs easier and offer the advantage of more proactive and data-driven back-office load management tactics. Download the WhitePaper. The benefits of predictive freight analytics are not necessarily limited to improving carrier freight pricing.
Download the WhitePaper. Global retails need a proactive way to refine their product price points too to recapture excess shipping costs Control over shipping costs is more vital than ever. So, giving proper attention to drayage planning, along with proper data acquisition and use, reduce the chances of such delays.
The benefits of benchmarking trucking fleets also include better contract and trucking spot r ate pricing, which means lower driver turnover for trucking fleets. This information will help to reduce costs and allow companies to make better program decisions that benefit the company. Download the WhitePaper.
Domestic transportation networks can better collaborate load capacity to reduce wasted miles and space. Download the WhitePaper. 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. .
When freight brokerages handle freight on the same lanes for their customers day in and day out, they build an expertise on pricing and servicing these truckload shipments. The more loads moved, the denser the network, the stronger the service, and pricing expertise builds up over time. . Download the WhitePaper.
In our recent whitepaper , we discussed the growing importance of carrier utilization. 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. Request a SONAR Demo. This will be key in 2021.
Access to data and proper analysis are both essential to maximize profits and reduce costs. Finding the best prices, fastest routes and best carriers depends on using accurate and timely data from start to finish. Download the WhitePaper. Request a SONAR Demo. trillion in 2010 to more than $6.7 trillion in 2018.
Pricing managers and brokers can keep rates elevated for longer than conditions suggest they should. Download the WhitePaper. Both carriers and brokers have a responsibility to reduce the risk of losing money. Request a FreightWaves SONAR demo by clicking the button below to get started.
As explained by Supply Chain Dive , “Companies like Convoy, Transfix, Uber Freight and Loadsmart use algorithms to match carriers and loads based on origin, destination, type of load, price, and timing. Download the WhitePaper. Passport data and analysis guide decisions based on an overall strategy tailored to your brokerage.
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