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From COVID to geopolitical tension, the past five years have emphasized the need for procurement agility. From COVID to geopolitical tension, the past five years have emphasized the need for procurement agility. As the global freight market continues to evolve, so too will the tools that drive it. Why Rate Refresh?
While SAP has had procurement analytics solutions, last year at Spend Connect Live, SAP announced the Spend Control Tower. Daniel Chapman, the senior director of process transformation for procure to pay at Warner Music, was a keynote speaker. It is a brilliant tool.” The Warner Music Group was an early adopter.
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.
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.
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.
For shippers, the approach to transportation procurement is evolving. Traditionally, shipping companies have relied on manual tools and processes, predominantly managing their requests for proposals (RFPs) and bids using simple spreadsheets.
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.
A spot rate benchmarking tool has become an essential application for brokers, carriers and shippers to have at their fingertips. Capacity procurement reps can determine when to cover their loads and have more tools in negotiation to ensure they are hitting their margin targets.
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. Together, it promotes continued route optimization and use of strategic transportation procurement practices.
Managing the manufacturing supply chain and freight markets of today requires skills, tools, applications and services that have never been utilized in the past. Knowing when it’s time to revisit bids and renegotiate contracts is critical for procurement and intervention management. Request a SONAR Demo.
Shipment volume, capacity procurement and weight limits. Creating a logistics routing guide can seem like a daunting assignment, but technological tools can make it all more manageable and more streamlined. Request a SONAR Demo. Request a SONAR SCI Demo. Lanes the carrier typically runs and any related data.
Routing guide failures are frequently caused by poor communication, misunderstandings, unclear guidelines, poor decision-making, outdated or missing data points, mismanagement of privately owned trucking fleets, and unavailability of automated tools and technology. Request a SONAR Demo. Request a SONAR SCI Demo.
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.
Freight market participants need tools at their fingertips to execute day-today with confidence amidst uncertainty. Sign up for a demo here or by clicking the button below. . Request a SONAR Demo. Request a SONAR SCI Demo. There are 150,000+ unique indices available to SONAR subscribers.
But those problems fly under the radar without strong benchmarking tools to measure and improve in-house performance. And that also includes proactive views of inventory density, capacity and tender expectations across large geographies through shipping analytics tools. Request a SONAR Demo. 6 Hallmarks of a Shipper of Choice.
And it has opened new channels for capacity procurement. Utilization of truckload shipping tools and processes to optimize freight movements. Having the right tools and analytics platforms make it all possible. Request a FreightWaves SONAR demo by clicking the button below to get started. Request a SONAR Demo.
And that will win over carriers, keep them coming back and boost procurement efficacy. An effective shipper of choice knows that freight data access and application of that data are critical tools for maintaining their status through routine and unexpected trucking RFPs. Request a SONAR Demo. Streamline the delivery process.
Now, if that same issue occurs during a heightened period of trouble in procurement in the shipping industry , the total cost of transportation could quickly skyrocket. Turnkey products and services can make a world of difference for making the most of data-driven tools for freight management. Request a SONAR Demo.
The redundancies seen with traditional matchmaking can be done just as easily and much more effectively with RPA bots, systems, and tools. The redundancies commonly involved with load-to-carrier matching are much more manageable with innovative RPA bots, collaborative dashboards, machine-driven systems, and AI-enabled tools.
As the face of your business, your employees in the field are often on the frontlines when it comes to changes in customer demands, new tools or methods within your industry, and how effective your everyday processes are. In addition to encouraging open communication, you should also be procuring formalized feedback from your staff.
Start where it all begins – procurement. Procurement remains an oft-overlooked side of a freight spend analysis. Descriptive and diagnostic analytics are additional analytics tools that can help. Thus, predictive and prescriptive analytics tools become useful in proactive spend management. Request a SONAR Demo.
Furthermore, 65% said they either have or are planning to implement real-time visibility and insight tools in the next two years. Business case for visibility: Some of the common business cases and ROI for real-time visibility tools include improving inventory management, optimizing decision modeling, and revealing valuable business insights.
We learn how to use tools like Excel and Google Sheets out of necessity to organize the world around us. Shipper procurement teams can now incorporate SONAR contract rates directly into their spreadsheet-based RFPs. Submit a demo request to learn more about how you can utilize SONAR data within Microsoft Excel at your organization!
But the volume of available digitalized data, and the number of tools, solutions and platforms that supply chain stakeholders are using (juggling?) Likewise, the use of multiple tools and systems (for now) means effective integration is becoming more and more crucial too. are growing too.
With more agility and transparency, based on accurate data-driven choices, implementing essential visibility tools empowers shippers with practical foresight into predicting rate changes in real-time. Although these methods are foundational, they don’t provide the agility of real-time updates that supply chain visibility tools can accomplish.
Enter the Request for Proposal (RFP): a strategic tool that goes beyond mere vendor selection. It’s a comprehensive approach that empowers companies to streamline their procurement process, ensuring alignment with their long-term objectives and operational requirements. How to resolve this conundrum?
Request Demo. Request a demo of MercuryGate’s platform online today. Request a Demo. About keyboard_arrow_down About keyboard_arrow_down About Careers Learn how easy it is to become a leading voice for a company that cares about your achievements. Learn About Our Chief Technology Officer Meet Beth arrow_right_alt. close Close.
A survey states that 82% of shippers rely on third-party providers to procure capacity for at least some of their orders. By investing in a tool like ShipFlex , businesses can get end-to-end visibility even with outsourced fleets. Schedule a demo with us! Are you looking to simplify multi-carrier delivery management?
It encompasses all the steps taken to procure, receive, transport, store and manage incoming goods and materials that are essential for production, assembly or distribution within a business. For more information on how RouteManager can empower your team to tighten your inbound logistics, schedule your free demo today.
You could automate the following: customer relationship management, demand management, order fulfillment, manufacturing flow management, procurement, product development, commercialization and returns. Optimization tools. If you’d like to know more, speak to one of our team to arrange a demo.
You could automate the following: customer relationship management, demand management, order fulfillment, manufacturing flow management, procurement, product development, commercialization and returns. Optimization tools. If you’d like to know more, speak to one of our team to arrange a demo.
Fortunately, most metrics are tracked automatically, using tools and software systems you may already have. As for marketing metrics, Google Analytics, Meta, and other media channels have powerful tools that track traffic, page clicks, click-through rates and much more, so you can measure the success of your marketing campaigns.
Automations put more tools and resources in the hands of freight managing team members, directors, personnel, and operators, and by using RPA, it’s easier to handle the day-to-day, back-office process requests that come into any organization. Request a demo of RPA Labs chatbot to get started.
Automations put more tools and resources in the hands of freight managing team members, directors, personnel, and operators, and by using RPA, it’s easier to handle the day-to-day, back-office process requests that come into any organization. Request a demo of RPA Labs chatbot to get started.
Freight RFQs are complex, and almost every procurement project is unique in its design. In traditional freight procurement processes, results from downstream negotiations can have a retroactive effect on the projected award scenario. Harvest this low-hanging fruit!
SecurSpace enables the commercialization and procurement of yard storage , accommodating all types of intermodal equipment — containers, chassis, trucks, trailers, reefers, refrigerated plugins, 53′ dry vans — you name it. For a quick demo, jump to 16:20 in the webinar recording to watch Bobby walk through it! Search, Book, Pay.
Get a demo. Now, more than ever, there is a greater sense of urgency for real-time visibility in the supply chain and the tools that enable all parties involved to work together to ensure the on-time delivery of the goods we rely on every day. Businesses that were already using those types of tools fared better during the pandemic.”
The aim is to increase your options when you need to economically procure stock in an emergency. An inventory optimization tool , such as EazyStock, connects to your existing stock management system and will automate the risk of stockout calculations for you. Hold stock back for key accounts.
Reducing stock levels to carry more lines (without accurate forecasting and inventory optimization tools) can lead to stockouts and expensive backorders or rush orders from suppliers. Accurate Demand Forecasts for Intelligent Procurement. 1: Supply chain complexity.
Procurement isn’t coordinating with materials handling, and there are lots of gaps in those discussions. The fusion of data and service is a powerful tool for improving uptime if both parties use that data properly.”. Try one small thing, as a demo, and have a local dealer manage it for you. Tapping into the data stream.
To determining which tools can help execute that strategy. The importance of integrating data as well as the multiple tools that BCOs or forwarders are already using or adding to their stack as explored in a previous FreighTech24 article is key to realizing the efficiencies that tech promises.
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