5 Questions for logistics and finance that affect your freight spend

October 28, 2015 - 14:38

Hight time for a compilation of the 5 best questions and most read posts for logistics and finance professionals worldwide.

1. Communication is king...right?

How do you improve communication processes with carriers, quality of your contracts, automation of your cost allocation process, automatic delivery of deep analysis reports? Do you expect this from your Freight Audit provider?

*According to the 24th Annual Study of Logistics and Transportation Trends, one of the key actions for shippers, who are addicted to non-strategic 'cost savings', is to secure a collaborative partnership with your carriers. Moreover, invest in building strategic partnerships with carriers. The challenges carriers and shippers are facing today require the collective talent and joint efforts to develop solutions that lead to opportunity for growth for both parties and reduction of freight spend.

2. Business case the holy grail?

Many companies want to have a 'bulletproof business' case and understanding of savings before they put in place a full control of their freight invoices. Shouldn't invoices be under control by default?

Daily Logistics and Supply Chain insights that identify opportunities

3. Are you really using the full potential?

'No we do this in-house.' This comment is what I hear a lot. Donэt mistake checking of invoices internally for a full-fledged freight audit solution where you have full visibility via accruals, advanced business intelligence, exact shipping data for tenders, automated cost allocation, automated and streamlined processes with carriers etc. In-house solutions are very limited by nature in giving you full strategic value. Are you using the full potential of your own transportation data?

4. Real innovation or just a makeover?

Is your Freight Payment provider working on true innovation or just on optimizing of its outdated systems? Value does not come from elimination of overbilling only, it really comes from data that allows you to better do tenders, benchmarking, cost allocation, accruals, understanding your cost to serve and to simplify your logistics set-up as a whole.

5. The quest of the TMS

Are you struggling with finding the right TMS? Nowadays there are so many TMS companies that deliver so many solutions that making the right choice is almost impossible. Most TMS companies are not strong enough in each functionality they offer. Going hybrid and working with different providers in different functional areas may prove to be much more efficient and more cost effective. Next to that, it will keep a lot of flexibility which you will lose when you lock yourself in with 1 partner for everything.

*Extra question for transportation carriers

Dear carrier, 3PL and parcel provider, are you aware that your customers increasingly evaluate the strength and correctness of your billing and resolution processes? More and more shipper view the administrative handling of invoices, freight rates and data as a key point when deciding who to work with!

 

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