Rising carrier costs directly related to capacity constraints and elevated fuel costs are making it difficult for 3PLs and shippers to control shipping costs. The Journal of Commerce says shippers are preparing for another year of elevated less-than-truckload (LTL) rates and tight capacity, as a 2022 surge in demand from consumers, retailers, and manufacturers looks increasingly likely.
The unique time our industry is facing has made one thing clear, dynamic pricing is now a reality. You can save valuable time and money through the automated responses and actions that technology, specifically API integrations, can execute. By syncing your freight spend solutions with technology, you can make data-backed decisions; settle disputes, automate auditing, and improve cash flow through a data hub that is accurate and transparent.
Look for new opportunities to control freight costs in 2022. Knowing what capacity is available and retrieving competitive carrier rates in real-time is a game changer in keeping shipping costs down. The adoption of a technology platform can help you identify capacity and choose a carrier that will move your shipment on your schedule and within your budget. Even more critical is partnering with a provider who can help you book loads for all shipping modes – LTL, truckload, parcel, and final mile. This will save you time and give you more options to control costs. Having more carrier options for multiple shipping modes through your freight pricing technology provider will help minimize the struggle.
Beyond the value you can realize by adopting dynamic rating processes, transportation management technology can also foster cost-savings by providing improved visibility into freight status. Leading-edge technology partners that provide more updates throughout the pickup and delivery of a shipment can help you improve efficiency and offer better information to your customers. That information can include more accurate arrival and departure times to help improve customer service and productivity of operations at pickup and destination locations.
Did You Know?
As the top-performing freight pricing platform, Banyan Technology is continuously evolving our technology to fit our clients’ needs. We recently added the QuickShip™ feature to our LIVE Connect™ platform that will positively impact your bottom line. This new tool was designed as another way to save Shippers and 3PLs time and money by creating efficiencies in your shipping operations.
QuickShip™ streamlines data entry in as few as five points expediting the process you utilize to drive a rate and book a transaction. This new tool also gives Shippers and 3PLs the ability to set inbound and outbound shipping rates through your own contracted carriers -- resulting in significant cost savings. Clients who worked with Banyan during the beta testing of this product experienced a savings of greater than 10% using this tool.
Contact Banyan Technology today to learn more about how Banyan’s patented LIVE Connect™ platform can help you control costs.