Analyzing Shipment History for Cost Savings and Optimization
Freight data analytics is revolutionizing the way companies understand and improve their shipping decisions. By digging into shipment history, we gain insights into patterns and trends that guide better logistics planning. Our platform can rate historical shipment data within the rating engine, helping you assess carrier proposals to reveal the real financial impact of switching carriers. This lets you see at a glance if a new proposal offers savings or potential added costs.
ShipTLI’s expertise shines in helping clients make data-driven choices. Our team can generate heat maps using shipment history to identify ideal locations for distribution centers, allowing for strategic, cost-effective decisions about where to place inventory. This approach saves resources and optimizes routes.
Using Freight Analytics for Vendor Accountability and Cost Control
Freight data analytics empowers shippers to hold vendors accountable. Tracking costs over time helps highlight any sudden changes, helping you quickly address discrepancies. This process also reveals when a carrier’s General Rate Increase (GRI) is likely to affect your costs. A GRI is an annual rate hike, often across the board, that carriers use to cover rising operational expenses. With our analytics tools, you can assess whether these increases align with your shipping needs or signal a need for contract renegotiation.
Our transport management system also uses data analytics to help select the least-cost provider based on historical and current pricing. This ensures that you’re always choosing the most economical carriers without sacrificing quality or reliability.
Leveraging Supply Chain Analytics for Optimization and Consolidation
With freight analytics, we go beyond simple tracking; we optimize shipments. By examining historical data, we identify opportunities for shipment consolidation, reducing costs by combining loads where feasible. Analytics help assess whether certain shipments should be grouped by direction type, like inbound or outbound, or for internal shuttling between facilities. These insights allow for strategic decisions that lower transportation costs and improve efficiency.
Our technology also recommends the best mode of transportation based on shipment requirements, cost, and timing, ensuring that each load travels in the most effective way possible. For clients focused on efficiency, this approach drives smarter, leaner shipping operations.
Measuring Key Performance Indicators (KPIs) for Strategic Planning
Freight data analytics provides a detailed breakdown of shipping costs. This includes not only base rates but also accessorial costs, fuel surcharges, and more. We use KPIs like cost per pound ($/lb), cost per mile, and others to measure performance in real terms. These indicators reflect the true cost of shipping, helping you identify and address inefficiencies.
Direction type—whether inbound, outbound, or shuttle—further helps analyze performance by segment. Our system’s ability to break down costs at a granular level gives you the insight needed for ongoing improvement and growth.
Ship Smarter! ShipTLI
With ShipTLI’s freight data analytics, you’re equipped with the insights needed for smarter shipping decisions, vendor accountability, and streamlined operations. Whether you’re exploring cost-saving opportunities or selecting the best carriers, analytics make every choice count.