As peak shipping season 2022 gets well under way, a recent survey conducted by Supply Chain Dive has identified five predictions that Shippers and 3PLs need to understand before implementing solutions to manage the heightened over-the-road (OTR) shipping season. In this blog, we analyze those insights below and offer solutions and best practices for managing any shipping environment.
PREDICTION: Peak Season is Evolving
Half of the companies in the Supply Chain Dive Survey reported that they still manage peak season differently from the rest of the year, and just under half reported their peak season is now a year-round event. Heightened shipping expectations and the e-commerce boom have increased demand to the point that peak season volumes carry on throughout the year making it seem like a year-long event.
SOLUTION: The most effective solution to combat the challenges in any OTR shipping scenario includes a digital solution provided by a technology partner with an expanded carrier network for all modes, inclusive of LTL, Truckload, Local Carrier and Parcel for a comprehensive approach to competitive rating and scheduling of all over-the-road shipments.
PREDICTION: Rough Patches Ahead
About 59% of those surveyed expect this year’s peak season to be more challenging than 2021. Another 33% expect upcoming peak season to be just as challenging as 2021. Inflation and a looming recession threaten to slow the supply chain down as higher prices impact both B2C and B2B volumes.
SOLUTION: A multi-mode solution increases efficiency by allowing Shippers and 3PLs to rate, schedule and track shipments from a single screen. They no longer have to toggle in between systems to manage their freight and have an opportunity to find, not only the best rate or carrier, but also the best mode to use for each of their shipments.
PREDICTION: Top Concerns
Delivery delays, higher shipping and/or supplier prices, and labor shortages are the biggest concerns for Shippers and 3PLs for peak season 2022. Cancelled or delayed deliveries can not only effect customers but can also tarnish the reputation of the Shipper or 3PL. This can cut into profits and slow business growth as customers seek other, more timely and reliable options for their shipments.
SOLUTION: Real-time tracking of shipments allows Shippers and their 3PL partners respond to delivery issues and challenges, while access to robust reporting capabilities help them analyze Carrier performance and cost to determine the best shipping strategy. Visibility and responding to any shipping environment in the scheduling process helps ensure timely deliveries and can increase customer satisfaction.
PREDICTION: Lack of System Confidence
About 79% said that a TMS will improve peak season profitability, but only 36% have made the investment. Also, more than half reported that they lack confidence in their systems’ ability to handle peak season volumes, according to the survey. Outdated technology limits the ability to respond to the heightened demand in OTR shipping. Manual or outdated methods can delay shipping or result in costly errors.
SOLUTION: Shippers and 3PLs need an innovative solution that is constantly evolving to enhance efficiency; one that’s integrated with partners across all markets to ensure carrier capacity and timely delivery.
To combat their top concerns, Shippers and 3PLs are employing tactics that will help them remain successful in peak season 2022. They are hiring temporary or seasonal workers, increasing held inventory, and growing their supplier networks. However, the last prediction is the key to remaining successful in any shipping season. While it may be too late to implement a new digital solution that will help manage this year’s peak season, an effective solution can make a significant impact on shipping operations year ‘round. Shippers and 3PLs need an innovative digital solution that has an expanded carrier network for all modes, can help them execute a multi-mode strategy and is continuously evolving to effectively protect them and their bottom line.
The Banyan Difference
Banyan Technology has 3x more carrier connections than any other provider, including 10,000 assets and drivers in the Local Carrier over-the-road (OTR) shipping mode. We are constantly evolving our LIVE Connect™ platform, launching new products in collaboration with our clients to increase visibility, enhance flexibility, and provide powerful business intelligence tools. Recent product developments include:
- Enhanced Truckload Services: Eliminate manual shopping for rates and pickup, and instantaneously access load board and spot rates for your Truckload shipments.
- Expanded Local Carrier Services: Access more than 10,000 local carrier drivers and assets in North America through Banyan’s expanded Local Carrier connections in LIVE Connect to schedule final mile, expedited, hot shot, next day or same day deliveries.
- Expanded Parcel Services: Rate, execute, and gain valuable reporting tools on parcel shipments through LIVE Connect.
- Multi-Mode on a Single Screen: LIVE Connect is the industry’s only digital solution offering multi-mode OTR rating and shipment execution from a single screen.
- Business Intelligence Dashboard: Gain actionable insights into your shipping operations and carrier relationships with the new Carrier Performance and Carrier Cost Dashboards.
To back up the cost savings and benefits of utilizing our LIVE Connect platform, we offer all clients the following guarantee:
“During the first year of our partnership, our clients will enjoy savings in excess of our monthly recurring charges if they fully utilize our platform as intended. If they do not, then they can opt out of our agreement after the first year.”
Contact Banyan Technology today to learn how you can take advantage of carrier connectivity and guaranteed savings from the leading modern technology solution for managing freight.