Year-after-year logistics teams are tasked to reduce their freight spend and improve the supply chain performance of the company. Time-and-again inbound freight management is not identified as an opportunity, which continues to have those in the logistics and supply chain industry scratching their heads as to why because according to the Aberdeen Group, inbound freight can consume 40% of an average organization’s annual freight spend or 3.6% to 5.2% of a firm’s total annual sales.
The freight broker market continues to evolve its value-add proposition for shippers. Technology has put this transformation process into hyperdrive transitioning many freight brokers into logistics service providers (LSP’s).
Everything you need to know about domestic intermodal and how to be successful implementing it into your logistics strategy. Gives tips, tricks and insights on intermodal and what to watch out for when converting from truckload to intermodal.
Managed transportation services is the #1 topic we talk with shippers about as they look to better manage their supply chain performance. Surprisingly, there is very little information about how much managed transportation costs, who the largest providers of the service are in the market and what are all the options a shipper has with the types of services they can obtain through a managed transportation solution.
Inbound freight is typically the last frontier for many companies search for cost savings in their freight spend, as there is an abundance of complexities that are often outside the Logistics & Supply Chain Department's control. When talking about Inbound Freight Management a term often used is Freight Term Optimization (FTO), which is the process by which shippers strategically establish the most advantageous freight terms, while minimizing the total inbound landed cost. The optimal freight terms are influenced by a shipper’s ability to consolidate orders across days, shipments across vendors / customers, order level-level service requirements and the shipper’s ability to plan and execute routing options like multi-stop LTL, static or dynamic pooling, zone skipping, backhauls, etc.