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Advancing Transportation Procurement: The Shift From Spreadsheets to Software

FreightWaves SONAR

For shippers, the approach to transportation procurement is evolving. This approach is cumbersome and fraught with challenges such as limited visibility, inefficient data management and difficulties in bid analysis. This not only makes the process more efficient, but also reduces the likelihood of errors and enhances productivity.

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7 ways technology augments effective procurement in the shipping industry

FreightWaves SONAR

Load capacity limits play a crucial part in a supply chain network organization, logistics metrics management, and procurement in the shipping industry. Freight management parties need to understand why procurement falters without technology and how technology can boost sourcing across all industries.

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Freight market data size matters: 5 key hallmarks of data sets that improve transportation procurement

FreightWaves SONAR

Transportation procurement remains a major problem for enterprises faced with the need for faster and more extensive capacity. Part of acting on them immediately derives from the size of the data collected and how it can be transformed into meaningful insights. Freight market data size consistency matters.

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Watch Trimble’s Engage Lane Demo from Future of Freight Festival 2022

Trimble

During the event, Rishi Mehra, director of operations and strategy, and Kelly Williams, product manager, had just seven minutes to present a Rapid-Fire Demo of Engage Lane: an agile transportation procurement platform that streamlines the relationship between carriers and shippers and helps them uncover better ways to move freight.

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Truckload Shipping Procurement: How Large Data Sets/AI Aid in Pricing and Capacity Outlooks

FreightWaves SONAR

This is particularly true for truckload shipping procurement. According to Supply Chain 24/7 , “ In the industry right now, there are 10 orders to ship for every available truck; however, a large portion of private fleets are running their assets with a significant amount of empty backhaul miles. Poor data analytics cause disruptions.

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Freight Market Data Sources

FreightWaves SONAR

(Graphics created by Emily Ricks) There are ample opportunities to take advantage of spot versus contract freight data insights. Spot freight provides a short-term way to source capacity and boost procurement outside of contracted rates whether TL or LTL. And as mentioned, that TMS data becomes a key SONAR data source.

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Integration Chatbot: How Forwarders Can Streamline Procurement

RPA Labs

With minimal capacity at maximum cost, freight forwarders are looking for ways to streamline procurement, and leveraging an integration chatbot is one way to achieve that goal. High-quality robotic process automation (RPA) has the potential to make everything it touches more efficient with the data behind it to explain why.