For shippers, it seems as though the capacity crunch will never end. With increased freight volumes continuing to gobble up capacity, a fully enforced ELD mandate, a continuing driver shortage, extreme seasonal storms, and fuel surcharges at a three-year high, being a shipper in 2018 is causing more than headaches — it's causing migraines.
Good news is that if you approach today's capacity crunch climate armed with expert shipping strategies, you will surpass your less knowledgeable competitors and gain more market share. Here are four strategies that will allow you to thrive in the capacity crunch.
By considering modal conversion in your transportation strategy, you unlock increased opportunity for capacity, cost-savings, and speed. Flexibility and an intimate knowledge of your freight will help you weigh the pros and cons in the context of any given shipment. Consider these options:
A high-quality TMS paired with transportation optimization software can analyze and compare cost and transit time for all modes, enabling you to make the smartest, quickest decision.
Now’s the time to go over your supply chain logistics with a fine-toothed comb. Firstly, if you have collected comprehensive, clean data of your freight shipping program, an upfront analysis of all inbound and outbound shipments could unearth once-overlooked efficiencies.
Audit freight bills to ensure you're not overpaying. You might be surprised how hidden fees and inaccurate information can creep in and chip away at your bottom line.
Don’t be complacent waiting on your preferred carrier. Expanding your carrier network will help you seize any existing freight availability — and it will give you some leverage to revisit preferred carrier contracts.