Inflationary pressure continues to be one of the largest headwinds for consumer packaged goods (CPG) companies, which are uniquely exposed in the current environment. Input costs for corn, as well as other agricultural products, that are used in many products from animal feed all the way to consumer goods, have risen by more than 100% over the past year. In addition, freight spend is not able to be effectively hedged like commodities that are able to be hedged in the short-term. However, leveraging freight market data can mitigate freight spend and lead to a more efficient supply chain.
The free white paper, Mo’ inflation, mo’ problems for CPG companies, shows how real-time data can enhance decision-making around the supply chain. 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:
- Use data from electronic tenders and carrier surveys to assist in negotiations with carriers and 3PLs
- Benchmark contract rates against the overall market as well as industry peers
- Understand where intermodal conversion makes sense as well as saves money compared to truckload
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.