The team at Banyan Technology would like to wish you a very Merry Christmas and Happy New Year!
For the past year, we’ve published some exciting content for shippers and third-party logistics (3PL) professionals to share our supply chain and shipping industry insights. Our early holiday gift to you is our Top 5 favorite blog posts from 2021 that you may want to give a second look:
- How to Manage Freight Costs in a Carrier’s Market
In what’s considered a “carrier’s market”, Shippers and 3PLs are scrambling to secure carriers to pick up and deliver their freight. Many are paying premiums in tight capacity lanes because carriers can be selective in what they move and how much they charge. According to the Journal of Commerce, 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 Cowen/AFS index is also showing that capacity constraints will push up prices on the LTL side, as the top 10 carriers control 75% of all LTL freight.
- Finding Opportunity in Supply Chain Disruptions
With great challenges comes the opportunity for change and growth. It forces you to think outside the box and deploy new tactics to overcome disruptions. With no end in sight for the current challenges in the supply chain, you may want to take another look at implementing a technology solution that will help you conquer those issues. Technology can enhance your visibility and efficiency while helping to control your freight costs to more effectively manage your shipping needs.
- Top 5 Ways to Determine the Value of Technology
The ever-changing landscape of the transportation industry continues to force shippers and 3PLs alike to, once again, evaluate their processes, efficiencies, and business objectives for the coming year. With little to no relief in sight to help manage the growing supply chain challenges, it’s critical now more than ever to look to technology solutions to help streamline efficiencies and manage costs to combat the most basic of industry challenges… labor shortages and rising costs.
- Making the Switch: How to Integrate New LTL API Technology
There is no denying it. Overhauling or updating legacy technology platforms is a big task. However, the opportunities it presents outweigh the challenges to performing the updates. Plus, as the transportation and logistics industry become more digitized, companies that don’t upgrade to fully automated technology, including volume-pricing APIs, are going to be left behind.
- The Importance of Freight Visibility Throughout the Supply Chain
When you think of freight visibility, what does that mean to you? Is it just about knowing where your freight is or when it will arrive at its final destination? Is it knowing that it was put on the truck and is on its way or is it knowing in real-time where that freight is throughout its entire journey from order placement through delivery? Or is it all of those things and more? The term freight visibility is changing as the industry adapts to the new reality – one that is driven by ecommerce and the Amazon Effect. But no matter what it means to your company, visibility is necessary for properly managing freight, labor, costs, and customer service.
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