The U.S Federal Reserve cut interest rates in September by a half point for the first time in four years and is expected to lower interest rates at their meetings on Nov. 6-7. This interest rate cut comes as inflation is down to 2.4% in the United States. These levels of inflation and interest rates […]
How will the U.S. election impact Shippers and Carriers?
10 Freight Bid Tips
3 months ago
The Labor Day weekend signals kids going back to school, the start of the NFL season, and the preparation of budgets for the coming year. For manufacturers and distributors, this process incorporates the construction of the annual freight transportation budget. For many shippers, this involves the execution of an annual freight bid. To help companies […]
Analyzing the Results of a Freight Bid – Part 1
4 months ago
There comes a time during each freight bid when the full package (the shipping characteristics documents, fuel surcharge formulas, accessorial charge template, pricing instructions, carrier questionnaire, key milestone dates and data entry tools) is sent to a designated list of asset-based carriers and non-asset-based transportation providers. At this stage, it is valuable to arrange a […]
As outlined in previous blogs, most companies conduct a freight bid to achieve certain objectives. These may include saving money on shipping costs, upgrading the quality of their carriers, and/or improving service. Success can be measured in terms of a reduction in freight expenses, higher on-time service, greater customer satisfaction, or other metrics. To achieve […]
As 2022 comes to a close, there is much concern that world economies may experience a recession in 2023. There are a host of worrisome economic indicators that appear to be trending in this direction. Inflationary Forces The large government Covid relief payments created inflationary effects. The shift from on-site to stay-at-home workers triggered […]
The subject of rising freight transportation costs has come up on the earnings calls and quarterly reports of almost every publicly traded manufacturer and retailer in 2018. This has been a very challenging year as many transportation expense budgets were shattered by a host of variables including a driver shortage, the ELD mandate and a […]
In my last blog, I identified one of the recurring problems we encounter in working with shippers on a day to day basis, namely a lack of complete and accurate information on their freight transportation activities and expenses. I would argue that “you cannot manage what you cannot measure.” Good quality freight data is […]
For the past 15 years, my colleagues and I have been working with shippers throughout North America to help them save money on freight transportation. In 2018, this cost has hit the radar screens of CEOs, as the tightness in freight capacity has placed upward pressure on freight rates. Many shippers have been experiencing rate […]
Further to the last blog, a well written motor carrier agreement can be a powerful tool in promoting partnerships between shippers and freight companies. Listed below are some of the major components of a comprehensive contract. 1. Parties to the Agreement The document must clearly identify the parties to the agreement, including the use of […]
Best in Class shippers have high quality, granular, historical freight data. They capture clean, accurate, complete data on all of their inbound, outbound and inter-branch transfers, across all modes. The most fundamental building blocks are the individual boxes, parcels, envelopes, cartons, drums or pallets. Capturing this data correctly and completely allows a shipper to address […]