Inflation, inflation, inflation! Consumer packaged goods are facing inflationary pressures from all sides: Commodity prices are increasing; shortages of blue-collar workers for labor-intensive jobs; manufacturing costs increasing; packaging costs rising amid a boom in e-commerce; and transportation costs climb as capacity across all modes is historically tight.
In the short-term, the rise in transportation costs is difficult to hedge compared to the other input costs. Using real-time data gives CPG companies the ability to de-risk from overall market conditions and the potential to lower freight costs, which can lead to a direct and positive impact to the bottom line.
The free white paper, Mo’ inflation, mo’ problems for CPG companies, shows how FreightWaves’ SONAR and SONAR Supply Chain Intelligence platforms assist CPG companies to save money on transportation spend, de-risk from market conditions and benchmark against the competition. Data sets within the platforms allow CPG companies to:
- Understand market volatility to de-risk and assist in negotiations with carriers
- Benchmark contract rates against competitors and make adjustments as necessary
- Identify lanes where intermodal conversion makes sense in an effort to improve efficiency across the supply chain and save money when compared to trucking costs
Download the free white paper to understand how FreightWaves’ SONAR and SONAR Supply Chain Intelligence platforms will increase freight market knowledge and allow for lower freight costs across CPG supply chains.