What Are the Most Important 2020 Freight Metrics to Know?

Cerasis

In early 2020, the market forecast for freight looked bright. The post What Are the Most Important 2020 Freight Metrics to Know? Data Freight 2020 freight metricsThe turmoil of the U.S.-China China trade war appeared at an end, and few disruptions were believed to cause issues in 2020. Then, coronavirus happened to spread, and now, it will impact global supply chains. It is only a matter of time. Fortunately, understanding the facts.read More.

Walmart OTIF Metrics

SupplyPike

We’ve discussed the basics of OTIF and the fundamentals of OTIF before, but we thought we’d drill down deeper into the individual metrics. First, we’ll start by reviewing the basic goals of OTIF, and then we’ll dive into each metric and the compliance issues of each metric. We are only covering Supplier Accountability OTIF metrics. On Time compliance issues for “Prepaid” are for times where you manage the freight.

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The Most Important Distribution Center Metrics to Track and Understand

Cerasis

Throughout the supply chain, the use of metrics to track and understand processes provides an invaluable resource for ensuring increased production and customer satisfaction. Additionally, the use of metrics fosters positive relationships with coworkers and adherence to rulesets and best practices for the respective third-party logistics provider (3PL). What Distribution Center Metrics Need Tracking? What distribution center metrics are you tracking or are not listed here?

[e-Book] The Ultimate Guide to Manufacturing, Supply Chain, Logistics, Transportation, & Freight Metrics & KPIs

Cerasis

Take a look at how a business can use technology, metrics, and services to improve transportation processes, which range from supplier shipping to route optimization. We hope you enjoy this comprehensive look into data, business intelligence, metrics, and the CORE KPIs every shipper and manufacturing or supply chain professional should know in order to continually improve business practices and reduce overall costs.

Top 5 Metrics & Benchmarks To Measure In Pickup & Delivery Logistics

Abivin

Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals.

Metrics that Matter: Customer Service

QAD

Inventory accuracy and minimizing stockouts are very important to customer satisfaction, but a few other metrics also impact the ability to meet customer expectations. Unreimbursed Freight. A high level of unreimbursed freight shows that the team is taking extraordinary measures to satisfy customers. Companies can use these metrics to help ensure they are doing everything possible to satisfy their customers at a manageable and sustainable cost. Unreimbursed Freight.

Supplier Quality Management: What it is, 5 Key Metrics to Know & a 4 Step Supplier Evaluation Process

Cerasis

When you choose a company to transport your freight or to supply you with the materials you need to manufacture a product, you are putting your hard work and reputation in their hands. The next posts in the series will break down metrics and issues to consider in SQM by industry and conclude with a case study on the application of SQM. 5 Key Metrics to Use for Scoring Supplier Quality Management (From LNS Research ).

Overcoming Complacency: How to Drive Even More Supply Chain Metric Success

Talking Logistics

The four key methods here will help you drive more success as you bring the metrics to life on your warehouse floor: 1. Show the “story” of your metrics with quarterly and yearly growth charts; show how far you’ve come as a team over time. While most metrics stop at the output level, multiple layers of metrics in a Hoshin Plan actually determine if you’re even focusing on the right targets. A sense of complacency can lurk behind benchmarks.

Top 5 Metrics & Benchmarks To Measure In Pickup & Delivery Logistics

Abivin

Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals.

Freight Analytics That Will Enhance Productivity

Cerasis

Freight analytics refers to a set of algorithms that meticulously comb through the mountain of freight data to unlock its potential. Recent research indicates the freight metrics and analytics market will swell to more than $27.4 Automation Data Freight freight analytics

7 Ways to Strategically Elevate Freight Procurement

Talking Logistics

Transportation has followed the same evolutionary pattern, moving upstream from day-to-day freight transactions to an integral component of top-level corporate planning and procurement strategy. Smaller companies have lean shipping departments and are often focused on moving product with little time and energy remaining to negotiate contracts and analyze freight spend. Disaggregate freight spend data. When analyzing freight spend, the devil is in the details.

The Top Freight KPIs You Need to Succeed

Cerasis

The top freight KPIs you need to succeed enable continuous improvement, rely on real-time visibility and apply the latest in freight analytics capabilities. Furthermore, the use of freight metrics and KPIs is a testament to the.read More.

Top 5 Metrics & Benchmarks To Measure In Pickup & Delivery Logistics

Abivin

Managing your business operations would be challenging without proper metrics and data analytics. Below are 5 significant metrics in Pickup & Delivery Logistics that any company can use to measure their performance in meeting initial goals. , This is a measurement of freight carrier performance and. This metric can also be called Perfect Order Measurement. Smaller metrics can either be measured separately or rolled into one longer-spanning metric.

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX)

Freightos

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX). Today, the go-to metric for that question is typically Standard & Poor’s 500, the Nikkei, or the Dow Jones Industrial Average (a shockingly poor indicator , if you look closer). The underlying premise dates back further, even for freight. By 1985, the Baltic Exchange published its first daily dry bulk freight index. A New Freight Index.

The Digital Freight Ecosystem Part 2: What’s Bringing Freight Online

Freightos

The Digital Freight Ecosystem. Part 2: What’s Bringing Freight Online. In the first part of this article , Dr. Schreiber observed that freight is still largely offline and examined why freight digitalization has been so complicated. . Bringing Freight Online In The Carrier Space. Carriers literally do the heavy lifting in international freight. Customer management can be expensive and hands-on, especially in an error-prone industry like freight.

Guest Post: Ignoring this Performance Metric is Risky

TMC

A major freight company employs a team of meteorologists that works closely with its flight dispatchers and contingency coordinators, for example. The post Guest Post: Ignoring this Performance Metric is Risky appeared first on Connect Blog by TMC, a division of C.H. There are many ways to measure supply chain performance in terms of resilience, but there is one that’s easily overlooked even though it is gaining in importance: Detection time.

Optimize Your Freight Spend Without Negotiation

Talking Logistics

Companies across all industries are dealing with rising transportation costs and a key question many CEOs, CFOs, and supply chain executives are asking is, “What can we do to better manage and control our freight spend in today’s market?” Rising Freight Spend . Michael provided a number of great suggestions, along with related KPIs, for how companies can start to analyze their freight spend.

Freight Broker Business: Increase Shrinking Margins With Better Analytics

Turvo

Maintaining a freight broker business and helping it stand out from the crowd is more difficult than ever. Unfortunately, that does not always amount to spending money reasonably and maintaining control over freight spend. For those operating a freight broker business, the challenges are greater. These forecasts can also help brokers, shippers and fleets take a lot of the guesswork out of a proposal to move freight, say, a year from now. Analytics Freight Broker

The Digital Freight Ecosystem Part 2: What’s Bringing Freight Online

Freightos

The Digital Freight Ecosystem. Part 2: What’s Bringing Freight Online. In the first part of this article , Dr. Schreiber observed that freight is still largely offline and examined why freight digitalization has been so complicated. . Bringing Freight Online In The Carrier Space. Carriers literally do the heavy lifting in international freight. Customer management can be expensive and hands-on, especially in an error-prone industry like freight.

The Business Case for Freight Visibility

Talking Logistics

Bennett Adelson, CEO of MacroPoint discusses the following questions and more in this timely and informative episode: Why is real-time freight visibility so important for shippers and 3PLs? What benefits does real-time freight visibility provide to shippers, carriers, and brokers? How does freight visibility impact that metric? What advice or recommendations would you give to companies to help them develop a strong and convincing business case for freight visibility?

How Quickly Things Change: April Freight Market Index Commentary

BluJay Solutions

Guest commentary by Mike Mulqueen, JBF Consulting – as provided for the April 2020 Freight Market Index report. Before looking into BluJay’s quarterly metrics, JBF Consulting and BluJay want to recognize the devastating impact of COVID-19. The impact of COVID-19 was not felt until March and initially, the result was a surge in freight volumes as consumers stocked up in preparation for quarantine. The Sensitivity of Freight Transport to Economic Volatility.

How Does Real-Time Freight Data Boost Competitive Advantage?

MercuryGate

Moreover, most companies still rely on outdated metrics and KPIs, using outdated data. However, The application of real-time freight data opens the door to a better understanding of transportation management and insights into ways to unlock added […]. The post How Does Real-Time Freight Data Boost Competitive Advantage? Data holds great value within supply chain management, and the amount of data grows exponentially through everyday operations.

50 Most Read Articles of All Time in Manufacturing, Supply Chain, Logistics, Transportation, & Freight

Cerasis

Since today is the last day of the year before we all get ramped up towards a productive 2016 and after finishing out top 10 most read articles in each of our five main categories ( Manufacturing , Supply Chain , Logistics , Transportation , & Freight ) we wanted to give you all a treat and list the top 50 most read articles of all time from the Cerasis blog. 8 Most Common Reasons Why You May Receive a Freight Claim Declination Letter. Happy New Year!

Manufacturing Labor Productivity: A Vital Metric to Spur for American Manufacturing to Compete

Cerasis

Twitter The post Manufacturing Labor Productivity: A Vital Metric to Spur for American Manufacturing to Compete appeared first on Freight Logistics Company | Cerasis. Two weeks ago the Bureau of Labor Statistics handed down some pretty dismal news for American manufacturing—news that was largely overshadowed by the façade of job growth numbers. Yes, American manufacturing is adding jobs. But our labor productivity numbers have fallen.

Wanted: Supply Chain Architects!

Supply Chain Shaman

This work is typically periodic to accompany a freight bid or an end-to-end project. I then pack my bags and scoot out the door to sign books and discuss the research completed for the S upply Chain Metrics That Matter book at the ISM event on Thursday, May 14th in Atlanta. Lora has written the books Supply Chain Metrics That Matter and Bricks Matter , and is currently working on her third book, Leadership Matters.

Importer/Exporters vs Freight Forwarders/3PL – Levelling the Playing Field

3rdwave

Too often – make that almost always – importers and exporters (BCOs – Benefiticcial Cargo Owners) are dependent on their NVOCC, Freight Forwarder or 3PL (3PL) to provide them with visibility into their global supply chains. independent performance metrics and analytics for management decision support. To make matters worse, most companies have a multi-freight forwarder environment which multiplies the dependency problem.

3PL 40

Important Steps to Achieving Global Freight Management Success

Talking Logistics

Many companies operating in the United States have achieved an inclusive look into their transportation spend, but unfortunately many companies that do business on a global level have struggled to achieve full freight process management. Doug Kahl and Joanne Chan from enVista will explore that question and share insights and advice on how to achieve global freight management success in this timely and informative episode. Live Episode: Tuesday, December 1, 2015 at 12:00 pm ET.

Global 109

21 Vendor Metrics Your Supplier Scorecard Might be Missing

Supply Chain Cowboy

But is your scorecard missing key metrics? It includes a free Excel template that you can modify to match exactly what metrics you want to measure. While some of these metrics might not apply to your business model, there’s definitely a few to add if they measure something important to you and your customers. Of course, you’ll want to be courteous and professional with your feedback, but being open and honest with this metric can go a long way to solving problems between you.

5 Easy-to-Use Ways to Monitor Supply Chain Health

Talking Logistics

Do you have the right metrics? Metrics show how your supply chain is performing – providing they are the right ones to do the job. Inappropriate metrics can give a false or incomplete picture of supply chain performance. Second, what metrics are the best indicators of performance in terms of these goals? How much are you spending to move 100 pounds of freight? These are examples of metrics that may or may not support your goals.

Writing: Working on My Book

Supply Chain Shaman

Interview for Metrics That Matter. My kitchen table is piled high with interviews for the upcoming book, Metrics That Matter. I recently interviewed him for my upcoming book, Metrics that Matter, that publishes in August 2014. Which metrics do you think matter to supply chain excellence? In my experience this has been a powerful metric to generate profound change. I have come across customer service metrics and fulfillment metrics that overstate performance.

Managing a Third Party Logistics Partnership

The Logistics of Logistics

When you have chosen a 3PL partner, insure that you have an effective Service Level Agreement (SLA) with accompanying Key Performance Indicators (KPIs) to manage the Service Level of the 3PL. This SLA/KPI has to be negotiated and agreed upon by you and your 3PL partner.This negotiation time can take three (3) to Six (6) months. If you do not want to start at the 3PL as a contact customer with a SLA/KPIs, you can ship your goods and become a public account.

23 Reasons the Ideal TMS is best for LTL Freight Shipping

Cerasis

Freight Consolidation. Sometimes, the lines between FT and LTL are blurred, especially when all LTL shipments are compiled into FT via freight consolidation. Mobile Access to KPIs and Metrics. While its key benefits revolve around LTL freight shipping, the ideal TMS actually results in a wide array of benefits for an organization, which apply to all positions from CEOs to custodial workers.

The Best LTL KPI for Measuring Freight Damage

The Logistics of Logistics

Cost, on time performance and billing accuracy don’t mean much if the carrier damages the freight. To minimize freight damage, begin measuring it with the damage free shipments KPI. Be sure to measure all damage not just freight claims filed. Damaged packaging, small scratches, and loose pieces are all upsetting to the receiver and the end customer so they should be documented and measured, even if there isn’t a freight claim filed.

KPI 100

Prepare for 2020 by Reviewing Five Important Shipper Metrics in TMS

Supply Chain Collaborator

If your solution meets these criteria, here are the top five important metrics your transportation data can illuminate, providing operations with effective plans for the coming New Year. Review this metric to ensure you can deliver on your ETAs for customers in 2020. Tighter control over spot market utilization can translate into tens, even hundreds of thousands of dollars saved on expedited freight on an annual basis.

11 KPIs to Measure Your Carrier Performance

Freight Center

There are hundreds of metrics you can use to measure your supply chain performance and creating a carrier performance scorecard should be one of them. Freight Shipping & Logistics