The Value of Freight Rate Benchmarking | Episode 28

The evolving logistics sector is no stranger to the challenges of freight rate benchmarking, technology advancements and the necessity for stringent freight bill auditing. These elements are not merely operational details but pivotal factors in shaping efficient, cost-effective supply chains.

In episode 28 of Banyan Technology’s Tire Tracks® podcast, Jonathan Vigliarolo, President and CEO of Nolan and Cunnings with more than three decades of experience in logistics, discusses the history of freight bill auditing, the transformative impact of technology in logistics and the indispensable practice of freight rate benchmarking.

“Understanding your spend in relation to the market is critical. We’re here to ensure that companies aren’t just throwing money away,” said Vigliarolo. “The interplay between technology and traditional logistics practices is fascinating and ripe for optimization.”

Freight Rate Benchmarking Episode Key Points

  • Jonathan’s professional background and the evolution of Nolan & Cunnings.
  • Freight rate benchmarking and Nolan & Cunnings’ approach to it.
  • Why industry-specific benchmarking rates are key.
  • How carrier RFP support is incorporated into the company’s approach.
  • Ways technology has impacted rate benchmarking processes in freight.
  • Navigating bidirectional integration between systems and data.
  • The reception of Carriers to Nolan & Cunnings’ involvement in freight.
  • The company’s approach to resolving billing discrepancies.
  • Insights into the latest data trends in shipping and logistics.
  • The controversy and solutions surrounding duplicate billing.
  • Why Nolan & Cunnings has embraced technology into its strategies.
  • Why the time for freight rate benchmarking is now.

Featured Episode Quotes

“A lot of the things carriers [do] to try and streamline operations and make it more efficient, unfortunately, does not always translate into clean billing practices.” — Jonathan Vigliarolo [0:05:04]

“One of the things technology has given all of us [in the industry] is the ability to be much more targeted [with RFPs].” — Jonathan Vigliarolo [0:14:54]

“[Nolan & Cunnings tries] to view the carriers as a partner. We all want the same thing.” — Jonathan Vigliarolo [0:21:14]

“The time [for rate benchmarking] is now. Every day that goes by, you are potentially letting dollars fall on the floor.” — Jonathan Vigliarolo [0:40:08]

To explore the intricacies of freight rate benchmarking and its impact on the logistics industry, alongside discussions on technology’s role in enhancing freight operations, click above to view Tire Tracks Episode 28.

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