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by Jared Spude
Jared Spude

4 min read

Meet Freight Management Challenges With Streamlined Technology Solutions

February 20, 2024

Jared Spude
by Jared Spude

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In anticipation of an economic recovery, forward-thinking procurement leaders have strengthened their carrier partnerships to reinforce their transportation networks for when consumer demand rebounds. This strategic move combined with the increasing need for faster delivery times, enhanced efficiency, and a push for emissions reduction, has led to an industry-wide shift towards streamlined technology solutions that not only enable them to achieve their objectives but also facilitate the expansion of their networks. According to Gartner's 2024: Supply Chain Technology study, technology is considered a significant source of competitive advantage for 90% of companies. Additionally, nearly one-third of supply chain professionals stated that technology is critical to the success and growth of their business.

Shippers need freight management technology that keeps a constant pulse on transportation network performance and identifies areas for cost reduction and efficiency gains. By making their routing guide more agile with real-time, transacted rate benchmarking, lane-specific carrier identification, and actionable recommendations, procurement leaders can make well-informed decisions with confidence, all from a single, C-suite-friendly dashboard view. One of the most effective ways to accomplish this is through the use of advanced technology, specifically a comprehensive productivity platform like Capac-ID.

Capac-ID is specifically designed for shippers to make faster and better data-driven decisions. It's built to help shippers automate and streamline their processes to save time, reduce costs, and improve the visibility of their transportation network. Capac-ID's unique capability to handle freight management across modes and equipment types, alongside its unmatched analytics and visibility, makes it an essential solution for procurement leaders across industries.

Problem-solving solutions for freight management challenges

One of the most significant advantages of Capac-ID is its ability to go beyond identifying problems and instead focus on solving them. The technology provides shippers with the data they need to make informed decisions about their transportation network. Having access to real-time data enables shippers to be proactive and quickly address issues or bottlenecks before they become bigger problems. By doing so, shippers not only save time and money but also minimize disruptions to their networks, providing a more stable and reliable service.

Benchmark current demand for capacity compared to peers

Capac-ID sets itself apart by offering procurement leaders a real-time view of their freight network, rather than just a historical look back at linehaul rates. While standard industry solutions tend to rely heavily on third-party data, which often results in outdated information, Capac-ID shows linehaul rates that reflect the current demand for capacity. This view grants shippers the ability to see where their network operates within the larger shipper ecosystem, equipping them with the insights needed to stay competitive and agile in a rapidly evolving market. By implementing freight management technology informed by the latest market dynamics, procurement leaders can ensure their carriers receive fair compensation.

Lane-level carrier recommendations to boost efficiency and reduce costs

In the same freight management tool, procurement leaders can easily track the performance of existing carriers to assess their performance compared to others on the same lane. When carriers don't meet expectations or market events cause disruptions to a routing guide, procurement leaders can access carriers that are most suitable for specific lanes to address gaps in their transportation network. Leaders can also evaluate carriers based on various metrics, including SmartWay scores, to explore ways to reduce their carbon footprint. These insights are crucial for shippers seeking to gain a competitive edge in their industry.

Increased network visibility to uncover opportunities

Capac-ID takes it to the next level by enabling procurement leaders to focus on critical areas of their freight network through the automation of a majority of their processes. By diligently monitoring network performance, Capac-ID provides targeted recommendations tailored to each lane. This automation significantly reduces the time and effort required to manage their freight network, enabling procurement leaders to focus on strategic planning and growth. By automating routine tasks such as manual benchmarking or looking at a load board, procurement leaders can redirect resources to strategic areas such as relationship management, network optimization, and carrier selection.

Optimize Your Freight Management Process with Capac-ID

The freight industry is facing numerous challenges and the role of technology in addressing these challenges cannot be overstated. With the increasing demand for faster delivery times, improved efficiency, and reduced emissions, procurement leaders are turning to advanced solutions like Capac-ID. Take the first step towards optimizing your freight management strategy with Capac-ID by scheduling your demo now!

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