googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-6’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});
googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-6’); });
Andrew Leto believes that a panoramic freight procurement platform is the missing piece of...
The future of procurement is real-time. Historically, the procurement process has involved shippers securing quotes from carriers through the bidding process, with carriers putting forward rates and shippers choosing based on the best provider and price. However, whether bidding is done through RFPs or spot auctions, traditional methods leave money on the table.
In the six years since its inception, Uber Freight has demonstrated that automated, instant load procurement for transportation service...
https://www.freightwaves.com/news/5-things-shippers-should-know-about-real-time-freight-procurement
The yearly buying frenzy that is peak retail season is just around the corner. But vendors are facing additional pressure this time around as they seek to get rid of all of the excess inventory sitting in their warehouses.
Companies typically bulk up their supplies to ensure they can meet increased demand ahead of Black Friday and Cyber Monday, which arguably mark the unofficial start to the holiday shopping season.
This year, inventory levels hit a record high in February and have slowly...
https://www.freightwaves.com/news/how-retailers-can-move-that-extra-inventory-this-peak-season
Capacity is loosening and spot rates have dropped steadily over the past few months, shifting the pricing power from carriers to shippers. This shift comes after two years of constricted capacity and soaring volumes that allowed carriers to benefit from sky-high spot rates.
A slight decrease in consumer demand has played a role in this market turn, but last year’s contract rate increases also have fueled it. FreightWaves research analyst Michael Rudolph recently explored how rising contract...
Every year around this time, shippers start seeing increased demand for all the quintessential summer fun foods as folks stock up on hot dogs, chips and beer for their July 4 barbecues. This year, American consumers are expected to spend $7.7 billion – a number that has climbed over $1 billion since 2019 – on food items leading up to the holiday, according to the National Retail Federation.
This year’s holiday spending estimate shakes out to roughly $84 per person across the country, and this...
https://www.freightwaves.com/news/summer-holiday-surge-provides-perfect-use-case-for-shorter-rfps
The logistics industry continues to adjust to shifting consumer demands and struggle with pandemic-related headwinds, including general market volatility. These challenges have pushed freight procurement into the spotlight over the past couple years. Shippers are beginning to realize that their tried and true RFP methods will no longer keep them competitive in a changing market, pushing them to consider new, higher-tech options.
Transfix announced its newest offering – a next-gen sourcing...
“Data” has become a popular word in the transportation and logistics industry over the past several years. At this point, shippers are well aware that they need access to data in order to make the best decisions possible for their business. There tends to be some confusion, however, around determining which data points are important and what exactly to do with that information once it is secured.
For shippers, the true value of data lies in its cost-saving and performance-enhancing potential....
https://www.freightwaves.com/news/data-driven-decision-making-creates-change-in-supply-chain
The logistics industry is characterized by volatility, and companies hoping to thrive in the space need to be able to adapt to change more or less instantaneously. Agility is more important than ever as pandemic-related headwinds continue to play out and new technologies strengthen competing companies by offering increased flexibility.
A few weeks ago, carriers had the market cornered, leading to fluctuating volumes and soaring spot rates. Now, volumes are beginning to stabilize, tender...
While annual RFPs are still considered an industry standard, shippers are becoming less enthralled with these yearlong commitments. Volatile freight markets — like those seen since the beginning of the coronavirus pandemic — highlight the risks of long contracts. At the same time, high-tech solutions designed to make the bid process cheaper, easier and quicker are entering the market.
The freight market has proved incredibly unstable over the past two years, with capacity constraints driving...
https://www.freightwaves.com/news/why-shorter-bid-processes-will-soon-be-the-norm
Temperatures are rising steadily throughout the Southeast, and that can only mean one thing: produce season. As farmers prepare for harvest, shippers should ready themselves for the seasonal rate increases and capacity shortages that accompany fresh fruits and veggies each year.. This year that means preparing for prices to continue climbing and continued strained capacity.
“Generally, we will notice capacity tightening as we see seasonal, higher-paying loads increase. We usually recognize this...
https://www.freightwaves.com/news/produce-season-pushes-shippers-to-reevaluate-rates-contracts