What Is Procurement in Freight

The Supply Chain Journal

For management, one of the most critical aspects of shipping and inventory management is the concept of procurement in freight. This essentially is the process of securing adequate capacity space to haul the freight. Freight Full Truckload Supply Chain Uncategorized

7 Ways to Strategically Elevate Freight Procurement

Talking Logistics

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. The embodiment of this transformation is the chief procurement officer, an increasingly common title for executives that strategically source goods and services. As a strategic process, transportation procurement may still seem very tedious and challenging.

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Full Truckload Technology: The Various Technology Involved in Full Truckload Freight Shipping Management

GlobalTranz

In full truckload freight management, technology will make or break plans for keeping freight spend in check. Demand for record-breaking speed of delivery and free shipping are only making the case for greater use of technology in full truckload freight shipping management, and shippers need to understand why. Amazon continues to push its own fleet forward, and the Big Box giants are willing to pay premium prices to get freight to market.

Drop Shipping Teddy Bears!

Supply Chain Game Changer

As such the Category Managers were going wild with ideas on how to expand their product assortments and procuring new and interesting products to sell. the difference between the intended resale price and the cost of procuring the item from the vendor). This is drop shipping in action.

10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

GlobalTranz

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. As a result, an external benchmarking tool , explains Olga Rissin of CHAINalytics , offers the benefits of reducing internal spend and accessing outside data, which further drives competitive advantage and lower spend in managing the procurement supply chain. As a result, more shipments can be placed on “fast lanes,” reducing overall freight spend and duration of shipments.

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

Shipsy

The spread of the novel coronavirus causing COVID-19 is affecting the shipping industry in unprecedented ways. Rate Procurement Through Inquiries In these testing times, shippers are now exploring spot rates in Shipsy’s Inquiry module to transport their goods.

Digital Procurement Improves Supply Chain!

Supply Chain Game Changer

Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. It demonstrates the advantages of working with a digital procurement strategy.

These 7 Industrial Procurement Trends will Impact Supply Chain & Logistics in 2018

GlobalTranz

Procurement must never be an afterthought in any enterprise. Supply chain professionals must also know how they will be shipping freight. The answers to these questions lie in understanding a few of the top industrial procurement trends to expect in 2018. Companies Will Seek New Ways to Use Technology in Procurement. The global supply chain creates many challenges and opportunities in procurement. Brexit Will Continue to Cause Disruptions in Procurement.

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. Whether you are a BCO (Beneficial Cargo Owner), Freight Forwarder or NVOCC it is essential that you get this critical component right. Use of Freight Rate Benchmarking. Subscribe Here!

How to Procure Full Truckloads in Tight Capacity

GlobalTranz

The use of full truckload shipping is rising in popularity, resulting from its lower cost as compared to less-than-truckload (LTL) shipping. These rates will have natural implications for smaller shippers seeking to lower overall transportation and freight spend, and paired with a “blurred lines between peak shipping and shopping seasons,” shippers will experience increasing trouble when trying to procure full truckload capacity.

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

Shipsy

The spread of the novel coronavirus causing COVID-19 is affecting the shipping industry in unprecedented ways. Rate Procurement Through Inquiries In these testing times, shippers are now exploring spot rates in Shipsy’s Inquiry module to transport their goods.

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How to Lower Your Ocean Freight Costs!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Ocean freight article and permission to publish here provided by Katherine Barrios at xeneta.com. Freight costs are considered by many forwarders and shippers to be a major part of their total shipment cost. Subscribe Here! Email Address.

3 Best Practices to Improve Your Flatbed Shipping Performance

CH Robinson Transportfolio

Flatbed shipping is an important contributor to the overall economy as several key industries leverage this solution for the movement of their critical freight. 3 best practices to improve flatbed shipping performance. . Conduct procurement exercises regularly and often.

10 Tips Shippers Can Use to Reduce Costs in LTL Procurement with Better Request for Pricing Bidding

GlobalTranz

at Cerasis, we know a thing or two about the nuances of LTL procurement. LTL procurement is something we do very well. So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. BONUS : Download the Guide To LTL Freight Mangement White Paper. 10 LTL Procurement Cost Cutting Tips. Shippers structure a successful RFP when they align themselves with carriers that fit their shipping profile.

How to Navigate Temperature Controlled Shipping’s Fall Season

CH Robinson Transportfolio

Robinson’s historical shipping trends show that this seasonal demand growth creates a “fall season,” similar to floral, produce, and grilling seasons. Temperature controlled shipping has four “seasons” based on demand.

In Search of Alternatives to Truckload’s Fragile Freight Contracts

MIT Supply Chain

But they do add costs and reduce the efficiency of freight networks. MIT CTL’s FreightLab believes so and is developing alternative contract formats that solidify full truckload agreements and give shippers and carriers more certainty about future freight movements.

Fed up with cargo congestion, freight forwarders flee O’Hare airport

The Supply Chain Journal

The problem stems from the rush of ad hoc all-cargo aircraft being substituted for grounded passenger jets amid the travel downturn combined with the surge in e-commerce orders, inventory replenishment and ocean shipping backlogs that have companies turning to air to move their goods.

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

Freightos

Freight Visibility and Control: Introducing the Freightos Baltic Index (FBX). The underlying premise dates back further, even for freight. By 1985, the Baltic Exchange published its first daily dry bulk freight index. Dataset proliferation, the ability to run complex calculations on the fly, and an increasingly data-driven orientation created a fertile ground for indexes, extending beyond finance, pork bellies, and freight. A New Freight Index.

Freight Procurement Solutions Are Transforming Supply Chains

Jaggaer

Why You Should Consider Freight Procurement Sourcing Solution. Procuring raw materials or finished goods is one thing, but the processing of moving those goods from one place to another brings its own set of challenges. Whether you’re in charge of ordering the “things” or managing how and where those things get from A to B, both sides of the procurement equation stand to benefit from freight procurement automation. The Challenges of Freight.

Get the Biggest Bang for Your Freight Budget Dollar!

Supply Chain Game Changer

Do You Have Hidden Freight Costs? Freight Budget article and permission to publish here provided by Adam Robinson at Freightwaves. Freight costs and budget adherence are among the most important and often overlooked aspects of transportation management. Subscribe Here!

Capacity Crunch Strategies: How Does a 3PL Aid a Shipper in a Shipping Capacity Crunch?

GlobalTranz

A shipping capacity crunch is a necessary evil. Unfortunately, a shipping capacity crunch tends to occur during already stressed periods, like winter, after tropical storms and during peak shopping seasons. 3PLs Bring Better Freight Shipping Rates During Shipping Capacity Crunch Hikes. Part of the problem with a shipping capacity crunch is lackluster networking. Multimodal Shipping Is a Key Benefit of Working With 3PLs.

How to Use Freight Attributes to Your Greatest Shipping Advantage

CH Robinson Transportfolio

How to Use Freight Attributes to Your Greatest Shipping Advantage | C.H. With the end of the year quickly approaching, some industries enter their busiest transportation season and others hit a shipping slowdown. In a previous post, I discussed aligning with service providers to best serve your freight attributes. Today, we’ll dig into how to and why you should accurately represent your freight. Use freight attributes to get the service you want.

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How Freight & Transportation Data Can Trim Your Transportation Spend

GlobalTranz

When you want to drive down your logistics and transportation spend, the very first thing that you need is freight and transportation data. Accurate freight and transportation data is particularly important. Seizing control of freight and transportation spend can improve operating income by five to 10 percent, and boost stock prices by 10 to 20 percent, according to an Accenture study, From a Shipper’s Market to a Carrier’s Market. Freight Invoicing Reports.

Using Logistics Technology to Execute a Winning Inbound Freight Strategy & Have Compliant Vendors

GlobalTranz

Fortunately, today’s logistics technology has the power to execute a winning inbound freight strategy and maintain compliance in the following ways. Using Logistics Technology to Execute a Winning Inbound Freight Strategy & Have Compliant Vendors. There are literally thousands of possibilities when it comes to selecting the best carrier, mode, insurance, protection plans, routes and other variables in modern shipping practices. Inbound Freight Logistics

‘New Normal’ Consequences: Soaring Container Shipping Rates

BlueYonder

One of the factors in that evaluation would also be the freight costs you incurred for that container and any additional costs if you are expediting another shipment. If you were to check the freight invoice, you probably paid four times the cost of the container as compared to last year!

Freight Consolidation for Full Truckload: The Hidden Gem of Full Truckload Shipping

GlobalTranz

Full truckload shipping is generally less expensive than other over the road transportation modes. Instead of throwing in the towel, shippers can leverage full truckload shipping to ship LTL shipments in the back of a full-size van or trailer. Unfortunately, the surrounding LTL shipping has resulted in an unusual problem; shippers are turning to LTL-exclusive shipments, which can significantly drive up freight spend. Freight Full Truckload

Smart Sourcing Bots Are Taking On Air Freight Procurement

Supply Chain Brain

One area that’s especially ripe for transformation is in the sourcing of air-freight shipping, for which demand continues to skyrocket as capacity remains scarce

Why the Truck Market’s Latest Turn Caught the Freight Industry by Surprise

MIT Supply Chain

Why the Truck Market’s Sharp Turn Caught the Freight Industry by Surprise The MIT FreightLab’s latest industry roundtable explored the drivers behind today’s extremely tight market for truck capacity and the broader implications for supply chains.

How to Plan for Common Disruptors in Ocean Freight

Talking Logistics

Peak season for ocean freight shipping is underway. Here’s an easy way to think about the regular and potential future disruptions that could impact your ocean shipping strategy, and what you can do to prepare for what comes next. At these times of the year, you should see less risk to your standard ocean shipping strategy. If you fail to book in time, you may miss your delivery deadlines, or will have to use an expedited shipping method to meet them.

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Imbalanced Investments: Transportation Spending vs. Procurement Technology (Part 1)

Supply Chain Network

Shockingly, though, companies are failing to invest in the necessary procurement tools to manage spend and optimize their transportation networks. Here’s the cliff-note version of the results; the full report is worth a thorough read : Transportation planning is sorely inefficient: According to the survey, only 25 percent of buyers are using a completely systems-based approach for procurement. Freight & Transportation Information Technology PaulMartyn Procurement

Five Technology Trends That Will Change Global Freight

Freightos

Five Tech Trends That Will Change Freight. Better last mile shipping. Persistent growth in ecommerce, door delivery and expectations for “free” shipping have many in the industry talking up the potential for drones to change the industry. However recent Freightos research found that only 32% of logistics professionals believe that drones will change the industry in the next five years (with nascent signs that drones are taking on some niche shipping tasks.

Ocean Freight Procurement and Going with the Stream

Freightos

The annual fixed-price contract is the current go-to for ocean freight procurement. Fixing a price is almost futile in a volatile market, and ocean freight now has much more volatility (both frequency and magnitude) than most other commodities. Just like streaming replaced that iPod as a better way of listening to music, ocean freight procurement now has a better way. But Does Fixed Ocean Price Procurement Need Fixing? Remember iPods?

Key Points for You to Consider in the TMS Procurement Process

TMC

Often at the top of the list is the need for streamlined shipping processes and visibility to all transportation activities in one technology platform. Common supply chain challenges that lead to a TMS purchase include procurement and transportation operations living as two separate functions, lack of visibility to freight movement, and limited control of freight from inbound suppliers. Procuring a TMS starts with an investigative process.

Key Points for You to Consider in the TMS Procurement Process

TMC

Often at the top of the list is the need for streamlined shipping processes and visibility to all transportation activities in one technology platform. Common supply chain challenges that lead to a TMS purchase include procurement and transportation operations living as two separate functions, lack of visibility to freight movement, and limited control of freight from inbound suppliers. Procuring a TMS starts with an investigative process.

Do I Really Need Full Truckload Shipping?

GlobalTranz

The question of necessity affects full truckload shipping decisions, and shippers might overlook full truckload options. However, shippers do need full truckload shipping, but they need to know how to take advantage of it properly to avoid ballooning freight spend and shipping costs. The Issue: Shippers Face More Challenges When Trying to Avoid Full Truckload Shipping. Spring shipping has not yet peaked & therefore, shippers need to prepare now.