FreightWaves SONAR

SEPTEMBER 20, 2021

There is a scene in Curb Your Enthusiasm where Larry David, who had never before purchased illegal drugs, asks a dealer, “Is that a fair price you’re quoting me?” In addition to whether shippers are being charged a fair price, there is also the question of whether shippers are getting what they are paying for.

White Paper 98

White Paper Negotiating Skills Purchasing Skills Freight 98

FreightWaves SONAR

APRIL 16, 2024

Spot freight provides a short-term way to source capacity and boost procurement outside of contracted rates whether TL or LTL. So let’s take a closer look at the top spot freight market data analytics sources that power SONAR. Electronic tender data The first and perhaps the most important data source is electronic tender data.

Purchasing Skills 52

Purchasing Skills Optimal Sourcing Sourcing Data 52

Logistics Viewpoints

OCTOBER 24, 2024

SAP is embedding its generative Joule across the SAP Ariba source-to-pay solution portfolio to make it easier for their customers to manage routine inquiries, such as status updates, summarization, and frequently asked questions. When a procurement contract is negotiated, the buyer has planned to achieve a certain level of savings.

SAP 142

SAP Procurement Solutions Manufacturing Procurement Procurement Analytics 142

TransAudit

DECEMBER 14, 2022

Fuel for all sorts of vessels has jumped in price over the last year or two. When fuel prices rise, so do shipping prices. Learning more about fuel costs and shipping will give you a better understanding of what’s going on and equip you with some strategies to help. How Fuel Costs Raise Shipping Prices.

Cost Reduction 72

Cost Reduction Purchasing Skills Price Reduction Expense Reduction 72

FreightWaves SONAR

MARCH 4, 2021

Truckload freight and transportation costs make up a large part of most logistical spending for shipping companies across the country. With surges in fuel costs and new fees, taxes and expenses levied on every load, budgeting needs only continue to increase. All of these challenges potentially create waste in your supply chain.

Price Reduction 97

Price Reduction Cost Reduction Expense Reduction Waste Reduction 97

Logistics Viewpoints

JULY 27, 2023

Many people haven’t even purchased a house that costs as much as a WMS and the search process can be overwhelming. Myth 2 – What you see in the demo is what’s in the product. Is this feature deployed and running in the real world, or just the demo environment? Buying a warehouse management system (WMS) is a big decision.

Procurement Solutions 126

Procurement Solutions Demo Logistics Network Optimization Software Purchasing Skills 126

FreightWaves SONAR

DECEMBER 1, 2020

Typically, these include meeting EDI and electronic document standards; use routing guides, which even small companies should have; labeling inbound cartons and pallets with product SKUs and purchase order numbers; and purchase order terms and conditions.” . Hassle or cost to serve. Request a SONAR demo today.

Purchasing Skills 100

Purchasing Skills Freight Procurement Analytics Optimal Sourcing 100

Parade

JANUARY 20, 2022

That’s not to say that it doesn’t take time to get to the point where you can use a purchased software in operations; it takes time to implement, integrate, test, and train staff to work with new programs. Reach out to the team at Parade for a demo that will give you a peek into everything Parade has to offer.

Procurement Solutions 78

Procurement Solutions Supply Chain Software Purchasing Skills Purchasing 78

Ship Monk

SEPTEMBER 14, 2022

By value , we mean how much that inventory cost to make or purchase, plus how much it’s costing you to store it. For an eCommerce business, inventory is your most valuable asset (at least in terms of bookkeeping) and also one of your largest costs. Ending Inventory + COGS – Purchases = Beginning Inventory.

Inventory Reduction 98

Inventory Reduction Inventory Purchasing Skills Manufacturing Procurement 98

WorkWave

JUNE 6, 2024

They offer significant benefits in terms of cost savings, control and efficiency, but come with considerations regarding acceptance and potential fees. This system simplifies financial oversight and helps prevent unauthorized purchases through features like spending limits and PIN protection.

Procurement Solutions 105

Procurement Solutions Expense Reduction Procurement Analytics Purchasing Skills 105

FreightWaves SONAR

FEBRUARY 11, 2021

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. Request a FreightWaves SONAR demo to get started.

Procurement Analytics 98

Procurement Analytics Trucking Optimization Software Operations 98

Logistics Viewpoints

APRIL 27, 2021

Understand that it’s a collective effort and harmonize your project to ensure a good RFP of your wants and needs before you schedule any solution demos. This means prepping potential providers on the specifics of your project, so you don’t waste time sitting through demos that don’t apply to your situation. Understand the Course.

Supply Chain Planning Software 176

Supply Chain Planning Software How To Procurement Solutions Supply Chain Software 176

EazyStock

FEBRUARY 17, 2021

Effective inventory replenishment processes ensure that order fill rates can be achieved while keeping inventory carrying costs under control. However, businesses are also acutely aware that holding inventory costs money. Excessive carrying costs can erode profit margins, while tying up cash in stock can lead to cashflow issues.

Inventory Reduction 75

Inventory Reduction Material Savings Price Reduction Cost Reduction 75

FreightWaves SONAR

JANUARY 8, 2021

Average length of haul (ALOHA) There’s a perception that tracking fuel prices and the balance of freight between spot versus contracted movements are the most important KPIs. This is the sum of all maintenance costs divided by the total number of miles driven in a given duration.

Expense Reduction 104

Expense Reduction Freight Price Reduction Purchasing Skills 104

FreightWaves SONAR

FEBRUARY 15, 2021

This week, learn how executives who manage a trucking business are monitoring carrier operations-based indices to improve profit margins and reduce operational trucking costs. Formula : Operating ratio = total operating costs / operating revenue * 100. Operating Ratio (OPRAT).

Trucking 98

Trucking Expense Reduction Operations Purchasing Skills 98

Shipchain

JANUARY 8, 2020

But the question remains– who is eating the cost of that damaged product ? According to Retail Drive, 21% of oversized online purchases arrive damaged each year, with 15% never arriving at all. . So who eats the cost- whether it be a one-off damaged product or an entire pallet worth millions?

Purchasing Skills 62

Purchasing Skills Production Supply Chain Software Supply Chains 62

FreightWaves SONAR

NOVEMBER 23, 2020

The Operating Ratio (OPRAT) index provides total operating costs divided by operating revenue, which is derived from the Truckload Carriers Association (TCA) members and is reported on a monthly basis. The formula is operating costs/operating revenue. Debt and interest payments are not included in these costs.

Operations 98

Operations Negotiating Skills Purchasing Skills Freight 98

Chronicled

MAY 1, 2023

Photo by Volodymyr Hryshchenko on Unsplash Understanding the 340B Program and its Presenting Issues The 340B Drug Pricing Program is a federally-run initiative that allows eligible healthcare organizations to access outpatient prescription drugs at discounted prices. To learn more about MediLedger, schedule a demo here.

Purchasing Skills 52

Purchasing Skills Price Reduction Manufacturing Procurement Supply Chain Software 52

Ship Monk

MARCH 21, 2024

Customers are mostly anonymous, and purchases are made or abandoned, seemingly on a whim. This data usually includes the customer’s contact information, address, purchase history, social media engagement, email click-throughs, and dozens of other data points as they become available.

Optimization Software 105

Optimization Software eCommerce Logistics Network Optimization Software Procurement Solutions 105

FreightWaves SONAR

FEBRUARY 1, 2021

Average contract rates show trends developing in long-term pricing agreements to prepare freight market participants for annual bids or any increases in shipping freight rates. Unlike the spot freight market, contracted agreements have a longer cycle and are typically negotiated on an annual basis. Request a SONAR Demo.

Negotiating Skills 75

Negotiating Skills Purchasing Skills Freight Procurement Analytics 75

FreightWaves SONAR

NOVEMBER 9, 2020

This week, learn how freight market participants, especially trucking carriers , rely on both the Ultra-Low Sulfur Diesel Rack (ULSDR) data index and the FUELS index to measure diesel fuel price volatility and to understand its impact on their operations and the freight market at large. The local price is an average of those various prices.

Purchasing Skills 52

Purchasing Skills Price Reduction Data Cost Reduction 52

Ship Monk

SEPTEMBER 6, 2022

One of the most irksome tasks of owning an eCommerce business is keeping track of inventory—not just the number of units, but their costs. Most importantly, it goes into the formula to calculate the cost of goods sold (COGS) which determines whether or not your business is making a profit. So how do you calculate inventory costs?

Purchasing Skills 52

Purchasing Skills eCommerce Inventory Procurement Solutions 52

FreightWaves SONAR

AUGUST 13, 2021

I often hear people that speak of supply (capacity) or demand (freight volume) refer to either one as if that explains pricing alone, when in practice, you must understand how each dynamic moves separately. Industrial – PMI (Purchase Managers Index). Retail sales [white] and the Purchasing Managers Index [green] remain very strong.

Manufacturing Procurement 98

Manufacturing Procurement Trucking Purchasing Skills Ordering 98

Trinity Logistics

AUGUST 3, 2021

TMS HESITANCY 2: IT COSTS TOO MUCH. What you have in place may work for now, but when your business really starts growing, the cost and time to manage your workload will be growing too. There’s a big difference between purchasing software to use from a company and working with a 3PL that offers it as a solution.

Supply Chain Design Software 138

Supply Chain Design Software Logistics Network Optimization Software Supply Chain Software Procurement Solutions 138

Ship Monk

SEPTEMBER 19, 2022

Back then you didn’t need to know about holding costs because Mom and Dad let you store your inventory for free. It wasn’t until your business took off and they kicked you out that you began incurring holding costs a.k.a. carrying costs, and needed to learn what those are. So what exactly is holding cost?

Inventory Reduction 52

Inventory Reduction Cost Reduction Purchasing Skills Inventory 52

Locus

JUNE 24, 2024

.” The 2024 Market Guide noted that “New digitalization initiatives, the increasing adoption of e-commerce, and the need to optimize transportation costs to improve the end-consumer experience and increase brand engagement are some of the challenges LMD solutions must solve. Take a look at our demos!

Gartner 52

Gartner Optimal Sourcing Optimization Software Vendor Strategies 52

RPA Labs

NOVEMBER 11, 2021

billion purchase of Transplace; DP World’s $1.2-billion billion purchase of U.S.-based based Syncreon and $890-million purchase of South Africa’s Imperial Logistics; and the GEODIS purchase of Texas-based Velocity Freight Transport, ” according to Logistics Management. Speed of Transit and Rising Transportation Costs.

Freight forwarding 92

Freight forwarding Supply Chain Planning Software Industry Freight 92

Ship Monk

JULY 28, 2022

If your eCommerce business makes and sells hats, for example, you purchase raw materials such as fabric, thread, leather, ribbon, etc. Its value includes not only the cost of the raw materials in use, but the added manufacturing costs. When Does Inventory Become WIP Inventory? to make the hats.

Inventory 64

Inventory Manufacturing Procurement Purchasing Skills eCommerce 64

Ship Monk

MARCH 11, 2024

Did you know that 93% of consumers say that online reviews influence their purchase decisions? Referrals One of the first things consumers do when making a big purchase is ask friends and family for recommendations. That’s a mind-blowing statistic. Why are other people’s opinions so darn important to us?

eCommerce 105

eCommerce Logistics Network Optimization Software Case Study Procurement Solutions 105

FreightWaves SONAR

MARCH 15, 2021

Read on to learn what is SONAR SCI’s Lane Acuity Plus, what it tells subscribers who have purchased SONAR SCI, and how the application aids freight market participants by gaining deeper lane by lane insights around freight shipping. . Paying below-market rates in highly volatile lanes could lead to additional costs. .

Optimal Sourcing 98

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 98

Talking Logistics

NOVEMBER 16, 2017

If you’ve been involved in a TMS purchase before, you understand that simply knowing whether the software has a certain feature doesn’t actually mean that feature will be a good fit for your operations. You need to understand how the feature works and whether it’s relevant to how you do business, or if it will just add complexity and cost.

Supply Chain Design Software 61

Supply Chain Design Software Vendor Strategies Purchasing Skills Logistics Network Optimization Software 61

Locus

MARCH 21, 2023

Apart from competitive prices and wide product selection, consumers also have steep expectations around the post purchase experience. Moreover, carriers use different approaches for pricing, such as weight, distance, or zones, making it challenging to accurately gauge how it affects your bottom line.

Purchasing Skills 52

Purchasing Skills Eliminating Excel in Purchasing Optimization Software Outsourcing 52

Freightos

JULY 11, 2017

Smaller customers have a higher cost of service, lower volume, and, well, can be more error-prone. Forwarders Are Cutting Cost Of Sale. Researchers, like Drewry, see freight digitalization hitting the sales process first , reducing the cost of sale. Freight digitalization will reduce their cost to sell and serve.

Purchasing Skills 73

Purchasing Skills Price Reduction Cost Reduction Manufacturing Procurement 73

Locus

MAY 2, 2023

When they first began their journey, the greatest challenge was gaining the trust of consumers, who were used to visiting their local grocery store and largely preferred to check their groceries first-hand before purchasing them. To date, it has also been able to reduce its delivery costs by 66%.

Cost Reduction 52

Cost Reduction Price Reduction Purchasing Skills Logistics Network Optimization Software 52

WorkWave

FEBRUARY 20, 2024

Grasping the Fundamentals From labor costs that hinge on the median electrician’s pay of $27.36 per hour to ensuring your estimates cover both material costs and overhead, mastery over this estimating process is crucial. When it comes to electrical work, understanding the costs involved is crucial for planning your budget.

Negotiating Skills 52

Negotiating Skills Purchasing Skills How To Modeling Software 52

EazyStock

OCTOBER 20, 2020

The objective of stock optimization is to have the right products in the right place at the right time – as efficiently and cost-effectively as possible. It’s the art of achieving stock availability , while reducing inventory costs and minimizing the risk of excess items. Cost-effective order quantities. Schedule a Demo.

Inventory Reduction 98

Inventory Reduction Optimization Software Optimization Modeling Inventory 98

Locus

MAY 20, 2024

This fulfillment method cuts down delivery costs of serving customers especially in dense cities. BORIS – Buy Online Return In Store BORIS is another omnichannel fulfillment model where consumers can return their previously purchased online orders at nearby physical stores. How to Improve Fleet Utilization?

Inventory Reduction 98

Inventory Reduction Logistics Network Optimization Software Cost Reduction Optimization Software 98