Are “unprecedented freight prices” a threat to your business?
Several months ago, the CEO of a major player in consumer foods cited record freight costs and rising raw material prices on a disappointing earnings call. 100 days later that company, General Mills announced that they would be cutting 625 jobs to reduce administrative costs and streamline initiatives. Even people and businesses not directly impacted are going to notice higher invoices for as a result of ever growing costs. The trucking industry in particular has been a major source of the increase as a shortage of drivers and high fuel prices get passed along to their clients especially on the spot freight trucking market.
Logistics challenges are not unique to the food and beverage industry and affect all companies that buy, sell and move physical commodities and raw materials. For buyers, finding reasonably priced spot freight in a crowded market has become increasingly difficult. Eximware partners with leaders in the commodity industry to ensure that our clients are well prepared and informed with data analytics to protect themselves against price gouging and avoidable losses. Companies need to leverage every means necessary to make smarter buying decisions. Analysts agree that data capture technology and reporting can help improve efficiency and promote more profitable decisions. Eximware software helps our clients identify their most valuable trucking and rail service providers by identifying available freight, displaying real-time pricing and recording on key performance indicators.
XM Marketplace for Freight helps importers, traders and processors across food and beverage improve spend management and foster healthy competition among suppliers. We analyze the commodity markets and partner with our clients to provide software solutions that result in efficiency gains, transparency and clear analysis to drive better buying decisions. Over 40 spot freight providers chosen by our commodity management software base are already on-board ready to provide competitive quotes for all types of freight truck and rail movements.
With XM Marketplace for Services traffic and logistics teams can select which providers are eligible to win trucking and rail contracts. The system was designed to automate notifications, illustrate availability and pricing while turning a process that historically took hours and sometimes days into one that can be conducted in minutes. To learn more about how your traffic and logistics teams can request, evaluate, negotiate and contract for freight trucking services more efficiently visit our contact us page and send us a note that you’d like a brochure or live demo.