This Is How To Get Transparency
Together with fuel, freight makes up nearly two-thirds of logistics costs. If you are one of the many retailers reeling from the economic fallout from the coronavirus pandemic, the last thing you need is to pay high freight rates.
Having access to accurate and transparent data empowers you to effectively manage your transportation costs in a proactive way, instead of merely reacting to market changes. The insight that freight transparency offers allows you to create transformative strategies.
The Technology That Will Take Your Freight There
Massive strides have been made in developing and adopting technology in the transportation industry that gives shippers the transparency they need. The success of these solutions hinges largely on precisely managing targeted elements of their transportation network.
Using this technology, shippers are able to review the lane-level details of their logistics networks and the market-based costs associated with them. This access gives them the ability to improve their transportation strategies in incremental ways. These fine-tuned strategies make them more competitive in the market.
Well-designed solutions offer shippers valuable insight into demand, origin, destination, capacity supply, price variables in different regions, and freight flows. This deeper understanding of the transportation ecosystem as a whole empowers them to lower their freight costs.
Freight rates are determined by looking at complex variables for each freight lane. Therefore, when benchmarking them, it is critical to take all variables into account. Depending on a single factor will not reveal the full picture. Once you have narrowed down your choices to one or two carriers, carefully consider the cost, whether or not it is a good fit, and the carrier’s performance.
A carrier’s reputation is an essential factor to consider. Your customers expect their products delivered on time and the coronavirus outbreak is no exception. You must work with carriers you know will play their part in making it happen. A carrier that fails to do so can cost you very damaging losses you do not want, especially right now.
Giving You The Freight Transparency You Need During The Coronavirus
Freight Management, Inc. created Draydex™, its advanced TMS extension that gives users access to the most accurate drayage spot market index in the industry. Draydex offers the freight transparency you need to keep shipping costs low during the coronavirus pandemic including:
- Carrier comparisons
- Ramp and port pricing
- Instant pricing for alternate routes
- Detailed presentations of linehauls and accessorial charges
- Faster booking speed
- Carrier safety and insurance monitoring
- Historical lane searches
Better yet, using Draydex is FREE-of-Charge! You do not have to pay a cent for access to a tool that can save you money on your freight rates.
Freight Management, Inc. also offers a free rate management system (RMS). Using our detailed RMS, you can easily manage rates and accessorial charges, store and compare the drayage rates you are getting with the current market average, access all of the information you need in one central place and finally get full visibility for your ocean import and export managers.
While other providers place a cap on the number of rates you can obtain for free, we give you unlimited free access to rates!
When you get transparency, you develop a real understanding of the way the network is operating and the transportation ecosystem is evolving. At this point, you can identify areas of strength and areas of weakness in order to improve the latter. Furthermore, when you have access to the details of each freight rate, you gain the power to keep your freight rates low and work with carriers that will leave your customers satisfied.