Wanting to know how your supply chain compares to others in your industry (or the market at large) is natural. After all, knowing where you stand can influence your goals, planning, and strategies in the future.
Many would argue that the role of transportation services within business has been changing over the past few years. I agree. But I also ask: is transportation what has really changed? Or is transportation only becoming increasingly important because of everything else that has changed?
It’s been my privilege to work with MIT graduate students as they research service and pricing in the truckload market. Now, it’s time to see how your truckload strategy compares to the practices Leaders use to get the best performance and pricing.
If your freight gets rejected by carriers, this probably means extra work and additional costs because you have to make alterations and go deeper into your route guide to get your freight shipped. Does this sound at all familiar? It probably does, since the average tender rejection rate is around 20%.
To understand a question that plagues many shippers, “why was my tender rejected?” C.H. Robinson challenged Massachusetts Institute of Technology’s Center for Transportation and Logistics (MIT-CTL) student, Yoo Joon Kim, to determine just how influential distance and volatility are on carrier rejection rates on high volume lanes.
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In any endeavor, there are varying levels of success. This is true for supply chains, too. And the right technology, specifically a transportation management system (TMS) is the connective thread that makes the highest level of supply chain success possible. » Read More