While many logistics and transportation operations have been slow to adopt technology to manage their shipping processes, some are now dismissing Transportation Management Systems (TMS) as obsolete. However, the right TMS is not just alive; it's thriving and evolving, becoming an indispensable tool for companies looking to optimize their supply chains and transportation processes.
In today's complex business environment, efficiency and data visibility across all operational areas are critical for success. A study by the American Productivity & Quality Center (APQC) found that organizations excelling in these areas are five times more likely to be top performers.
Particularly for Shippers and 3PLs, the integration of freight execution software with core business systems, including Enterprise Resource Planning (ERP) and Warehouse Management Systems (WMS), emerges as a factor for a competitive advantage.
This integration not only streamlines operations but also enhances decision-making processes. According to a report by MHI and Deloitte, companies that have successfully integrated these systems report up to a 35% increase in operational efficiency, with a significant impact on their bottom line.
Efficiency, reliability and speed are paramount in the fast-paced world of logistics and supply chain management. As Shippers, 3PLs and brokers strive to meet the increasing demands of customers, the methods used for freight execution play a crucial role in determining their success. While the use of modern freight execution software solutions has increased, traditional freight management methods remain the standard for some logistics professionals.
The parcel shipping industry is undergoing transformative shifts, driven by changing consumer expectations, economic fluctuations and a pressing need for sustainable practices.
With a freight recession, increased parcel rates, carrier consolidation, the normalization of expedited shipping and a stronger focus on sustainability, businesses face a complex set of challenges and opportunities. In this dynamic environment, strategic partnerships emerge not just as a tactical choice but as a cornerstone for success.
The logistics sector is facing significant challenges and opportunities in reducing its carbon footprint. With new regulations on the horizon requiring detailed disclosure of greenhouse gas (GHG) emissions as outlined in a recent DC Velocity article, companies are turning to technology solutions to comply with these pending mandates and satisfy their own corporate sustainability requirements.
It is estimated that at least $800 million of freight payments are being double brokered annually. According to the Wall Street Journal, complaints about fraud, including double brokering, jumped 400% in the fourth quarter of 2022 from the same period the year before to the highest level since 2004.
Last week, the Transportation Intermediaries Association (TIA) voiced its concerns to Congress as Jeffrey Tucker, CEO of Tucker Company Worldwide, testified on TIA's behalf, emphasizing the urgent need for the Federal Motor Carrier Safety Administration (FMCSA) to tackle this rampant issue.
In 2024, logistics and supply chain management professionals are seeking more effective ways to reduce costs and mitigate risks when executing shipments. One of the most significant game-changers in this arena is the adoption of advanced shipping software.
This technology, equipped with automated freight bill auditing, AI predictive pricing, multi-mode capabilities, and business intelligence tools, is revolutionizing how companies manage their freight expenses and operations.
The past year has certainly kept us all on our toes with the ups and downs of the industry and the ever-changing landscape of shipping. As we look back on some of the most dynamic changes it’s important to consider how each of them can help you move ahead in 2024.
Costs and efficiency are critical in over-the-road (OTR) shipping. To unlock significant savings opportunities, Shippers, 3PLs and freight brokers are leveraging the power of shipping lane intelligence. It serves as the cornerstone for reducing freight costs by providing a single source of truth, enabling better carrier decisions, leveraging powerful filtering capabilities, negotiating better rates, streamlining analysis, and facilitating data export for informed decision-making.
In recent years, Shippers and 3PLs have been exploring nearshoring opportunities to optimize their supply chains and take advantage of cost-effective solutions. For companies considering Mexico as a nearshoring destination, understanding the intricacies of intra-Mexico and cross-border shipping is crucial.
Shippers and 3PLs need to understand the key best practices to cover regulations, establish carrier connections, manage shipments, account for customs brokerage, weights and measurements, and the unique aspects of shipping in Mexico.
