How freight consolidation impacts RFP bidding strategies
Figuring out how to improve annual request for proposal (RFP) bidding strategies remains elusive for many shippers, especially in the context of knowing when to expand the network to leverage freight consolidation. Consider all that goes into trucking RFPs. As noted by DC Velocity, “Most companies perform an annual or biannual Request for Proposal process […]
[stackd] The rise of digital freight matching and the value of integrations
Watch the episode On the episode you’ll hear: How does Ed define the industry question: “what is digital freight matching?” Is newtrul a digital freight matching platform? Why are we seeing the rise of these types of platforms? Load boards have been around for years, what’s the difference between what newtrul is, or any other […]
LTL Freight: How has tight capacity, truckload rates and parcel modes impacted LTL?
Truckload rates have a significant impact on the industry, whether intermodal or single-lane shipping modes get utilized. Full truckload (TL) and less-than-truckload (LTL) are popular methods that shippers use to move goods and products from one point to another. The transportation of freight not needing the entire space of a truck is LTL freight. On […]
Truckload rates: Using data predict and prepare spot vs. contract bids and RFPs
Among enterprise companies, one critical aspect of successful negotiation and capacity procurement is a better predictive outlook of both spot and contract truckload rates. The ability to accurately predict the volatility of specific lanes and load types can help shippers keep truckload rates under control. Tracking market trends within truckload rates relies heavily on data […]
How LTL shipping rates work and how to track trends developing in long-term pricing agreements
Less-than-truckload shipping, also known as LTL shipping, is nothing new within the transportation and shipping industry, but it has become more of a game-changer in recent years with freight rate prediction. Many LTL industry trends, including capacity limitations, increasing accessorials, surcharge rates, changes in market trends and buying patterns, are almost certain to continue through 2021 […]
Why less-than-truckload freight management remains critical to logistics
Finding ways to lower transportation costs has never been more important than in the age of ever-lasting disruption. As truckload capacity tightens, more companies find themselves faced with a choice between paying the cost of higher shipping or passing it along to customers, affecting all facets of freight management along the way. For instance, as […]
Domestic freight management: The redistribution of imports increases risk of putting domestic networks further out of balance
Import volumes continue to climb, creating bottlenecks at some of the largest ports in the US. Domestic freight management importers are scrambling to find a more reliable point of entry by booking freight coming into less-congested areas. The Inbound Ocean Shipments Index measures freight booking activity for shipments entering the U.S. at the port level based on […]
[stackd] Beyond TMS: How freight tech enables supply chain collaboration & customer experience at scale
Watch the episode On the episode you’ll hear: Why should freight market participants like shippers, brokers, and carriers 1, care about collaboration in the supply chain and 2. How can they use technology to enable collaboration within a tech platform like Turvo so it’s also contextual, since collaboration or “conversations’ may happen, but why should […]
Navigating logistics routing guide volatility: Using technology to increase compliance
A logistics routing guide can mean the difference between success and failure of pickup and delivery in a supply chain network. These guides feature all the essential routing instructions and a detailed set of shipping guidelines or requirements for suppliers and carriers to follow, building enterprise freight management efficiency in the network. The logistics routing guide further […]
Why data is critical to freight routing guide compliance
Establishing a practical freight routing guide helps outline essential rules of engagement for vendors, clients and supply chain managers. The purpose of these specialized guides is primarily to enable a quick adaptation of a shipment plan agreement between involved parties. The guides outline the goals and the specific needs of individual carriers, load types, destinations […]
What is a freight rate index?
The freight market continues to swing upward. According to John Schulz of Logistics Management, “experts’ advice for shippers to try and mitigate those rates is to drive efficiency for carriers by reducing waiting times at terminals, offering ‘driver friendly’ freight and trying to save minutes off drivers’ ever-valuable on-duty time during their runs.” It would […]
What is a routing guide and what are best practices to create one
Depending on your role within the supply chain, the idea of a routing guide can either appear almost meaningless or omnipotent. At its core, a routing guide provides a clear set of instructions and activities for effective supply chain management and execution. However, many supply chain leaders are still faced with questions about “what is […]
Looking at the data in FreightWaves SONAR to see the impact of Suez Canal Blockage
See the Suez Canal Custom Report in SONAR to keep an eye on how the blockade will impact inbound shipments into US ports. The report includes the Drewry World Container Index (Shanghai to Rotterdam), the Inbound Ocean TEUs Volume Index for the Port of Savannah, Inbound TEU Volumes). You can access the report above as […]
5 reasons why routing guide stability hedges market volatility & improves service levels
Routing guides are a universal source of carrier freight tendering and action. They apply to all freight parties and are regularly updated to ensure that shippers can keep freight spend under control. For instance, both CVS and Academy both present their routing guides online for easy access. And the routing guide provides a single point […]
Trade agreements and logistics data: why proactive planning always wins
One of the most crucial aspects of logistics management is the process of trade agreements and annual negotiations. However, this is also one of the most overlooked and glossed-over parts of the process as well. Reaching mutually beneficial service level agreements (SLA) or trade agreements depends on the access and utilization of current logistics data […]
Will intermodal freight cost advantage be enough to grow beyond 2021
The cost differential between dry van truckload and intermodal contract rates expanded to multiyear highs over the winter as trucking costs expanded much more rapidly than the intermodal freight counterpart. Todd Maiden reported Wells Fargo believes 2021 will be a banner year for container shipping on the rails, citing strong year-over-year comps and sustained import growth. But […]
Freight Business: Use SONAR indices to diversify your freight brokerage portfolio with port shipments
Risk management is important to any kind of investment. One of the best strategies of risk management is diversification of assets or revenue drivers. Brokerage leaders are turning to this strategy for their freight business. Many small and medium-sized brokerages find themselves entering the freight brokerage market with a specialized niche. You have a relative […]
[stackd] Using Data and analytics to make smarter retail shippers
Watch the episode On the episode you’ll hear: What is Hannah’s advice for retailers who want to reinvent themselves and perhaps what should they consider to stay optimized in shipping? How can retailers specifically leverage their network to help them deliver to their consumers more efficiently? What trends are you seeing for retailers in the […]
The relationship between intermodal shipping & ESG initiatives
Defining corporate goals in the supply chain can be a monstrous undertaking. Organizations are continuously focused on maximizing profitability and achieving a better reputation. However, there is a unique problem within the supply chain, and faster and free shipping does not always amount to sustainable shipping practices. More rapid transport will inherently mean a need […]
Enterprise Freight Management: 7 Last-Minute Thoughts to Boost Efficiency
Companies in the over-the-road trucking industry constantly strive to boost efficiency. However, increasing freight management efficiency can come in several different forms and can present a difficult challenge. With so many factors to consider, businesses in this industry may find it challenging to narrow down exactly where they should focus their time and money. And […]
