Smarter Shipping, Volume 13: How to Build a Stronger Future with Logistics Network Optimization Software
Welcome to Volume 13 of "Smarter Shipping" with Intelligent Audit.
If you missed last week's newsletter, "Smarter Shipping, Volume 12: As Q1 Results Roll In, a Grim Picture Takes Form in the Transportation Industry"
Let's dive right in!
In this edition of "Smarter Shipping," we'll cover the following:
- Customer Story: A Large High-Tech Company Relies On Real‐time Visibility to Drive Improved Exception Management
- A Curation of the top 12 stories around the industry to know
- The latest insights from the Intelligent Audit Resource Hub
- Intelligent Audit Named a Representative Vendor in the 2023 Gartner® Market Guide for Freight Audit and Payment Providers
- See the IA Team in Charlotte at The National Postal Forum at Booth #811!
A Large High-Tech Company Relies On Real‐time Visibility to Drive Improved Exception Management
The fortune 100 high-tech company needed better visibility to gain more proactive control over their shipments. The client turned to Intelligent Audit to provide real-time visibility on all parcel shipments to manage exceptions and stay ahead of issues proactively. Logistics professionals must determine which shipments must be micro-managed to ensure on-time delivery, and if something goes wrong, what happened and why.
Intelligent Audit’s real-time visibility solution provides the data necessary to track and monitor all activities, enabling them to reduce exceptions and effectively manage those that do occur.
Honoring Mom Aside, Industry Professionals Have Little to Celebrate Amid a Bleak Outlook
Ah, Mother’s Day, when those in the transportation industry and beyond think of those who first inspired us, comforted us, and brought us joy. Despite the holiday, however, Mother’s Day 2023 brings little comfort or joy to those involved in the global supply chain. Key indexes are promising bleak tidings, and furloughs, service cuts, and revenue losses are popping up like flowers in a Mother’s Day bouquet. Here's what you need to know in the industry that’s always moving.
Sign of the Times: FedEx Freight Announces Closures & Furloughs
In another sign of the difficult times for the transportation industry, FedEx Freight recently announced plans to close 29 locations and furlough a significant number of employees. This follows substantial declines in volume seen in the company’s Q1 2023 results, mirroring a trend seen throughout the trucking sector.
“We continuously review our network to ensure we have the right design to address changing market dynamics,” according to a FedEx Freight statement emailed to Supply Chain Dive, “Through that process, we identified opportunities to consolidate operations in several locations to improve customer service levels and improve efficiencies with fewer touchpoints, while lowering our cost to serve.”
Key Supply Chain Index Hits New Low in April
Yet more bleak news for the global transportation industry: The Logistics Managers’ Index (LMI) hit an all-time low in April. The index, which reached 50.9 in April, has provided a comprehensive transportation industry rating for the past 5.5 years. The unprecedented rating marks a new low in a three-month streak of consecutively falling growth rates.
Significant Losses for LTL Giant Yellow Corp in Q1
Despite its size, LTL carrier Yellow Corp. is not immune to the industry-wide difficulties plaguing the trucking sector. According to reporting from FreightWaves, “the carrier reported a first-quarter net loss of $54.6 million, or $1.06 per share.”
Analysts pointed to recent operational changes included in the carrier’s “One Yellow” strategy, as well as ongoing labor difficulties and a challenging volume landscape, for the significant losses.
Flexport to Purchase Shopify’s Logistics Business in Last Mile Push
Flexport, a leading supply chain management company, has recently decided to purchase the logistics portion of the e-commerce platform Shopify. Expected to close in the second quarter, Flexport’s deal to buy Shopfy’s logistics business will allow the company to branch out into the growing last-mile delivery and e-commerce fulfillment sectors.
The latest insights from the Intelligent Audit Resource Hub
The Role of Machine Learning in a Supply Chain Management Strategy
Imagine accurately predicting a supplier's lead time, optimizing inventory levels, or foreseeing disruptions in your supply chain. Navigating such headwinds is always challenging, regardless of the type of business you operate — particularly in 2023, where adaptability, agility, and resilient supply chain management strategies are crucial amidst bottlenecks, logjams, and other widespread challenges.
That’s where machine learning comes into play as it revolutionizes disruption approaches and innovative solutions. This article explores its transformative potential, highlighting key benefits and real-world examples that bolster risk management and drive supply chain management success.
How to Build a Stronger Future with Logistics Network Optimization Software
As the world recovers from the COVID-19 pandemic, many shippers breathe a sigh of relief with operations gradually returning to normal. However, despite their best wishes, the logistics industry of tomorrow comes with a whole host of challenges, whether it's fluctuating demands, increased costs, and supply chain disruptions.
One way to tackle these issues is by embracing logistics network optimization software. This innovative technology enhances route optimization, reduces operational costs, and improves customer satisfaction through advanced data analytics and predictive modeling. Moreover, by embracing this technology, businesses can create resilient, future-proof logistics networks, secure their long-term success, transform their approach to logistics, and emerge as leaders in a rapidly changing, rapidly evolving industry. All with the end goal of withstanding the uncertainties and challenges ahead in the post-pandemic world.
Intelligent Audit Named a Representative Vendor in the 2023 Gartner® Market Guide for Freight Audit and Payment Providers
Intelligent Audit continues to redefine freight audit and payment services with its cutting-edge technology, empowering shippers with actionable data-driven insights.
Intelligent Audit is a global leader in multi-modal freight audit and payment, business intelligence analytics, and secure carrier payment processing. The company has been recognized for the seventh consecutive year in the Gartner® Market Guide for Freight Audit and Payment Providers for 2023. “We believe this underscores our consistent performance and innovation in the freight audit and payment (FAP) industry,” Intelligent Audit CEO Hannah Testani said.
See the IA Team in Charlotte at The National Postal Forum!
The National Postal Forum takes place next week in Charlotte, NC. Hannah, David, Doug, and Andrew will be there and would love to set up a meeting or for you to stop by Booth #811.
That's it for this edition of "Smarter Shipping" with Intelligent Audit! Make sure to subscribe to not miss a weekly edition!