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Strong business relationships are built through trust and confidence. Platform security and visibility tools can help the transportation sector forge collaborations to eradicate for good the growing menace of freight fraud.

Prevent unnecessary costs and save as much as 9% on your budget.
In the complex world of logistics, where millions of shipments navigate the globe every day, precision and transparency are paramount. One crucial aspect of this precision is freight audit, however, traditional methods struggle with the numerous challenges of modern transportation.

Freight audit is often viewed as a routine and unexciting task, but it is an essential process that can save companies a significant amount of money. It also ensures compliance and strengthens relationships with carriers. A meticulous freight audit is a strategic move, uncovering overcharges, errors and discrepancies that, if left unchecked, could lead to significant financial setbacks. What supply chain and procurement managers need is a well-executed freight audit process, coupled with a digital, automated solution that saves the company time, money and headaches. 

Supply chains still rely on people power, but that doesn't mean people should do all the heavy lifting. Automation has been revolutionizing industries and manufacturing plants for years, boosting productivity and business growth. Supply chain and logistics players have also started using automation to improve processes and operations, albeit at a slower pace.

Our Q3 survey of 2023 saw 24 ocean shipping experts, all ready to share their thoughts, insights and concerns about this challenging, but exciting industry. 

Setting the stage for Integrated Transportation Management
Integrated Transportation Management (ITM) has emerged as a crucial aspect for organizations seeking to gain a competitive edge. Savvy managers now leverage state-of-the-art technology as a unique opportunity in their ITM initiatives to establish innovative transportation service arrangements and ensure they stay ahead of their rivals. 

The spot-buying arena is rife with external frictions and uncertainties, including supply chain disruptions, market fragmentation, and price volatility. By investing in benchmarking data, businesses can establish guidelines for their operations, but such data often lacks practicality in the present moment. Although bid collection tools are widely used in the market, they fail to effectively explore the market or gather and utilise real-time data. Consequently, shippers find themselves becoming passive recipients of market rates, susceptible to price fluctuations, and acutely aware that they are not maximising their potential earnings.

During the past year, the market situation has posed significant challenges for shippers as they struggled to find available carriers, resulting in lower tender participation. This put carriers in a strong position, as they had the advantage of being able to choose their preferred shippers, leading to higher rates.  

The spot freight market is a chaotic, complex world that is rife with fragmentation. And in the background, a tangled web of processes is running to manage tenders, bids, offers, acceptances, ratings, and more. All in the name of securing spot capacity to move goods from Point A to Point B, on time and in full, while ensuring cost control and quality. 

Understanding the freight market is a difficult and oftentimes elusive practice for shippers. Despite best efforts to control freight spend through contracted rates, shippers remain at the mercy of carriers when the market shifts and tender rejections lead to an increased need to source from the spot market. This was particularly true in the last two years, as shifting demand patterns created capacity constraints and sent freight rates soaring.

AI and machine learning can help shippers use data analytics to automate pricing and tendering decisions in the often volatile spot freight market.

How the new Transporeon Transportation Management Platform delivers a complete visibility package for overland and ocean

Global container shipping is a major contributor to ocean pollution. Mechanical engineers, shipbuilders, shipping companies and authorities are working to make ships more environmentally friendly, but there are existing ways in which container ships can represent a greener option.