Elevate Your Shipping Operations: A Call to Accelerate Efficiency

Hello and welcome to The Otterly Informed Shipper, Shipwell's LinkedIn Newsletter curated to keep you informed and empowered in the ever-evolving landscape of supply chain logistics and transportation. I'm Karen Sage, Chief Marketing Officer at Shipwell, and I'm thrilled to welcome you to our latest edition.

From global disruptions to technological advancements, staying ahead requires not just adaptability but also insights and innovation. As we navigate through these complexities, it's imperative to equip ourselves with the latest trends, strategies, and tools that drive success.

In this edition of The Otterly Informed Shipper, you'll discover the latest supply chain trends for 2024 and how to leverage them. Get practical tips to automate and optimize operations with AI, navigate TMS complexities with our checklist, and gain insights into our part one of a three-part series on reporting metrics. You’ll also learn from real success stories of peers using Shipwell's solutions for remarkable results in our SAM Nutrition case study.

We're committed to delivering valuable insights and practical strategies that empower you to excel in your roles and drive meaningful impact within your organizations. Your feedback and ideas are invaluable to us, so please don't hesitate to reach out if you have suggestions for future topics or discussion points.

Thank you for joining us on this exciting journey.?

Warm regards,

Karen Sage?—?CMO, Shipwell

This Edition's Topics

• 11 Actionable Insights from Top 2024 Industry Trends for Shippers
• Unlock AI's Power in Shipping: Automate, Optimize, and Master the Data Game
• What to Consider Before You Invest in a TMS (Checklist)
• In Pursuit of the Holy Grail, a KPI for TMS Performance: Part 1—Beyond the Basics of Cost and Time
• How SAM Nutrition Conquered Shipping Complexity with Shipwell—A NetSuite User's Success Story?

Actionable Insights from Top 2024 Industry Trends for Shippers

Explore key trends with tips to adapt and optimize your shipping strategies

As we round out the first quarter of the year and set our sights on the remainder, the shipping industry undergoes dynamic changes, emphasizing the critical importance of agility and visibility for success. To guide you through this ever-changing environment, we present the latest trends shaping the industry, ensuring all shippers stay well-informed and prepared:

1. Embrace Supply Chain Agility: Navigate unprecedented shifts by investing in flexible solutions. Diversify routes, partners, and transportation modes to build resilience against disruptions.
2. Let AI Drive Your Decisions: Leverage the power of artificial intelligence. Predictive analytics and automated optimization tools provide invaluable insights, streamlining processes and facilitating informed decision-making.
3. Automate for Efficiency: Embrace automation across operations. From smart warehousing to automated freight booking, technology is the key to heightened efficiency and reduced costs.
4. Conquer Labor Shortages: Attract and retain top talent by offering competitive wages, training programs, and a positive work environment, addressing the challenges of labor shortages in the industry.
5. Unlock Real-Time Visibility: Attain complete situational awareness through real-time shipment tracking and proactive communication, ensuring both customers and operations stay well-informed.
6. Reduce Your Environmental Footprint: Prioritize sustainability by exploring green fuels, alternative transportation modes, and carbon-offset programs to minimize your environmental impact.
7. Master the Last Mile: Invest in innovative last-mile solutions such as smart lockers and micro-fulfillment centers to ensure swift, efficient, and cost-effective delivery.
8. Digitize Your Supply Chain: The cloud is your friend! Migrate your operations to cloud-based platforms for enhanced data accessibility, streamlined collaboration, and scalability.
9. Nearshoring for Resilience: Rethink sourcing strategies by considering nearshoring or regional production to shorten supply chains, enhance responsiveness, and build resilience against global disruptions.
10. Transparency from Suppliers: Demand clarity from suppliers, ensuring end-to-end visibility into practices for ethical sourcing and sustainable operations throughout your supply chain.
11. Navigate Globalization: Leverage multimodal transportation and cultural agility to expand your reach and capitalize on international opportunities in the ever-expanding global market.?

These trends aren't just observations; they are actionable strategies for building a future-proof shipping approach. Shipwell stands as your reliable pit crew, ready to assist you in adapting, optimizing, and outperforming the competition.

Embrace these trends today and position yourself as a leader in the evolving world of shipping logistics. Our data-driven solutions and expert guidance empower you to seize every opportunity and navigate challenges with confidence.

Connect with an industry expert today to fuel your shipping transformation.

→ Talk To An Expert

Unlock AI's Power in Shipping: Automate, Optimize, and Master the Data Game

Learn how AI can streamline tasks, boost efficiency, and make you a data-driven shipper.

The shipping industry is in the midst of a revolution, and one huge driving force is Artificial Intelligence (AI). AI is rapidly becoming the key to streamlining operations, boosting efficiency, and making data-driven decisions that propel your business forward.

But how do you move beyond the buzzwords and unlock AI's real-world potential for your shipping operations??

Check out these three practical tips to get you started on your AI journey.

1. Embrace AI Assistants (Your Robot Buddy with an AI Brain): Picture this – no more tedious freight booking, document filing, or endless route planning. Imagine an AI Assistant, like Shipwell's Swifty, taking care of these time-sucking tasks. While Swifty tackles the mundane, your human team can focus on strategic thinking and crafting customer-centric solutions. Now, let's be real, AI isn't perfect (yet!). Some human oversight might be needed, but Swifty gets you 90% there, freeing up your team's time. Think of it as getting to the finish line with a jetpack – you still steer, but the AI gives you a massive boost. And the future is even brighter! Imagine a wave of new AI Assistants like ChatGPT seamlessly integrated into shipping platforms like Shipwell, bringing even more automation and efficiency to your fingertips. Get ready to free your human talent and watch your productivity soar!
2. Unleash Predictive Power: By analyzing mountains of data, AI can predict potential delays before they happen, identify maintenance needs before breakdowns become nightmares, and even forecast shipping costs with uncanny accuracy. AI-powered solutions, like Shipwell’s proactive issue identification and in-platform corrective action capabilities, are your secret weapon for navigating the ever-changing shipping landscape. This foresight equips you to make proactive decisions, mitigate risks, and stay one step ahead of delays.
3. Invest in Robust Data Collection: AI thrives on data, and so should you. Unlock hidden insights from your operations using actionable data collection and analysis tools. AI can then uncover stories your old data never could – revealing patterns, optimizing processes, and driving continuous improvement.

The benefits of leveraging AI are undeniable:

• Increased Efficiency: AI automates tasks, freeing up resources and boosting productivity.
• Enhanced Visibility: Gain real-time insights into your entire supply chain with AI-powered tracking and data analysis.
• Improved Decision-Making: Data-driven insights powered by AI empower you to make informed choices, optimizing routes, costs, and resource allocation.
• Reduced Costs: Automate tasks, predict problems, and optimize operations – all of which translate to significant cost savings.

Ready to join the AI revolution in shipping? Shipwell is your trusted partner. We offer a suite of AI-powered solutions designed to meet your specific needs and unlock the full potential of your operations.

Speak with one of our AI experts today and start your journey towards data-driven shipping success.

→ Talk To An Expert

What to Consider Before You Invest in a TMS (A Checklist)

While love is free, choosing the perfect TMS can be a high-stakes courtship with your bottom line.

?Download our FREE checklist with 20 crucial questions that can make or break your success with a new TMS.

This isn't just any checklist. It goes beyond basic features and delves into critical points you may not have considered, saving you time, money, and headaches down the line.

Here's a sneak peek at some of the questions that will guide you:

• Does it address your current challenges? Is it the cure for your shipping headaches?
• Budget-friendly fit? Compare costs and find the platform that won't break the bank.
• Scalable for growth? Choose a TMS that can evolve alongside your business.
• Team adoption? Is it user-friendly, or will training feel like an uphill battle?
• Smooth transition? Have you planned for bumps in the road?
• Industry buzz? Look for trusted platforms known for ease of use.
• Workload win? Will the TMS lessen your team's burden, not add to it?
• Team buy-in? Are you prepared to address their concerns and ensure smooth sailing?
• Is IT support ready? Is your IT department ready to champion the new system?
• Tracking for success? Identify KPIs to measure the impact of your new TMS.
• Roadblocks identified? Anticipate challenges and clear the path for implementation.
• Set realistic timelines? Understand the pace of change and avoid frustration.
• External factors considered? Account for variables like carrier availability and regulations.

This checklist is your roadmap to TMS success. Download it now and ensure you make the investment that takes your shipping to the next level.

?→ Get The Checklist

In Pursuit of the Holy Grail, a KPI for TMS Performance

Part 1: Beyond the Basics of Cost and Time

Author: Karen Sage, CMO, Shipwell

Transportation Management Systems (TMS) revolutionize logistics operations and strategic supply chain management, offering unparalleled value. Yet, the quest to distill this vast potential into a singular, all-encompassing Key Performance Indicators (KPIs) often lead industry experts to rely heavily on traditional metrics like cost reduction and on-time delivery rates. While these indicators provide essential insights, they barely scratch the surface of the comprehensive benefits and continuous advancements inherent to modern TMS platforms.

This exploration delves deep into the challenges of capturing the TMS’s extensive impact through limited metrics. Traditional KPIs, while foundational, fail to encompass the full spectrum of advantages brought by TMS solutions, from operational efficiencies to strategic supply chain innovations.

We advocate for a nuanced, tailor-made approach to developing a suite of technical reports that resonate with an organization’s unique goals, business model, and industry context. Our forthcoming series, “In Pursuit of the Holy Grail TMS KPI,” will unfold in three parts. In Part 2, we will introduce and define a broader set of potential metrics. Part 3 will showcase how Shipwell simplifies capturing and reporting these and other customized metrics, leveraging advanced features to enhance data management and analytics capabilities.

Let’s begin by examining the limitations of the most prevalent metrics providing specific examples to illustrate why they fall short in fully representing TMS efficacy.

Capturing More Than Just Delivery Timeliness?

On-time delivery rate is a pivotal metric for assessing the logistical efficiency of a TMS, shedding light on the punctuality of operations. Yet, an exclusive focus on this KPI can inadvertently shadow the system’s comprehensive capabilities. For instance, freight consolidation, a critical TMS function, strategically combines multiple smaller shipments into a single larger shipment, optimizing load efficiency and reducing costs—a nuanced benefit not captured by on-time delivery metrics.

Similarly, the process of carrier sourcing, enhanced by TMS, involves sophisticated algorithms that analyze historical performance data, pricing, and service quality to select the most suitable carriers for specific routes. This not only ensures reliability and cost-effectiveness but also fosters stronger carrier relationships.

Route optimization, another key TMS feature, leverages advanced algorithms and real-time data (traffic conditions, weather forecasts, and road closures) to determine the most efficient routes. This not only contributes to on-time deliveries but also minimizes fuel consumption and wear-and-tear on vehicles, enhancing sustainability and operational savings.

Automating manual tasks, such as invoice settlements and documentation, through TMS, eliminates human errors and streamlines workflows, leading to faster processing times and reduced operational expenses. Yet, the efficiency and cost savings derived from these automated processes are aspects that on-time delivery rates alone do not reflect.

Furthermore, the strategic value of advanced data analytics provided by TMS—offering insights into trends, performance bottlenecks, and opportunities for optimization—plays a crucial role in informed decision-making and long-term planning. These analytics can uncover patterns and insights that transcend the immediacy of delivery metrics, contributing to continuous improvement and strategic alignment.

In essence, while the on-time delivery rate is an essential indicator of a TMS’s effectiveness, it only represents a fragment of the system’s overall capabilities and benefits. A comprehensive evaluation requires a broader lens, encompassing the technical intricacies and strategic advantages that TMS solutions bring to the table.

Peering Beyond Surface-Level Cost Savings

Reduced freight expenditure remains a top priority for most supply chain leaders when assessing TMS solutions. Cost Reduction, often heralded as the ultimate measure of TMS efficacy, presents its own set of challenges. While reducing operational expenses is a crucial goal, focusing solely on cost can obscure other vital TMS benefits. However, cost KPIs only reveal part of the story. Obsessing over cost can inadvertently hurt quality, innovation, and sustainability:

• Quality of Service: Prioritizing cost savings might lead to compromises in service quality, affecting customer satisfaction and long-term brand loyalty.
• Carrier Relationships: A myopic focus on cost can strain relationships with carriers, potentially leading to service degradation or loss of favorable terms.
• Innovation and Growth: Excessive cost-cutting could stifle investment in innovative technologies or processes that could drive future efficiencies and growth.
• Sustainability: Cost-centric strategies might overlook environmental and social sustainability aspects, which are increasingly important in modern supply chains.

More importantly, fluctuating external variables make cost reduction challenging to attribute directly to the TMS itself.

Adapting Metrics For Evolving Priorities??

On-time Delivery and Cost are influenced by many external factors, from fluctuating fuel prices and carrier performance to regulatory changes and market dynamics. These variables, often beyond the TMS’s direct control, necessitate a nuanced approach to performance evaluation, integrating adaptive algorithms and machine learning models to optimize operations dynamically.

Both delivery and cost metrics provide selective glimpses into TMS performance. However, the diversity in supply chain models and evolving priorities necessitate customizable KPI selection, aligning metrics to specific organizational maturity stages, operational goals, and industry benchmarks.?

The diversity in supply chain models underscores the need for a customized KPI framework. A TMS should offer modular analytics, allowing organizations to tailor performance metrics to their specific operational goals and industry requirements, moving beyond generic measures like cost and delivery timelines.

The evolving nature of TMS utilization within organizations highlights the need for a dynamic KPI framework that accommodates changing priorities and market conditions. Initial benefits in operational efficiencies pave the way for longer-term strategic gains, necessitating a balanced suite of KPIs that reflect both immediate and future value.

A Multidimensional Approach For Comprehensive Insights

Relying on single-dimensional KPIs like On-time Delivery Rate or Cost Reduction to evaluate TMS performance offers a limited view of the system’s comprehensive benefits. A more sophisticated and holistic approach, employing a balanced and adaptable set of technical KPIs, is critical to capture the TMS’s multifaceted value fully. In the intricate ecosystem of logistics and supply chain management, the accurate measure of TMS efficacy lies in a constellation of metrics, each shedding light on different aspects of performance and impact, guiding organizations toward operational excellence and strategic innovation.

A more sophisticated approach, employing a balanced and adaptive suite of technical KPIs, is essential to capture the full spectrum of TMS advantages. In the complex ecosystem of logistics and supply chain management, the true value of a TMS is best represented through a multifaceted lens, integrating both quantitative and qualitative metrics to provide a holistic view of performance and impact. Rather than relying on generic measures like on-time delivery and cost reduction, organizations need customized performance reports with multiple KPIs to evaluate modern TMS solutions holistically. This multifaceted approach integrates technical metrics across operational efficiency, sustainability, adaptability, innovation, and strategic growth opportunities.?

Only with such comprehensive insights can supply chain leaders truly quantify the complete value proposition of TMS investments and guide usage strategies for transformative enterprise impact.

In Part 2, we will expand our exploration into the diverse landscape of TMS performance metrics, venturing beyond the foundational pillars of cost and time. This next installment will introduce a broader set of metrics designed for a comprehensive evaluation of TMS efficacy. We’ll delve into how to meticulously calculate each metric, ensuring you’re equipped with the tools to measure your TMS’s impact accurately. Furthermore, we’ll guide you through the nuanced art of interpreting these values, offering insights into how they interplay to paint a holistic picture of your transportation management’s strengths and areas for improvement. In Part 3, we will delve into Shipwell’s transformative capabilities in harnessing and elevating TMS performance metrics. This concluding installment will spotlight how Shipwell’s advanced features streamline capturing, analyzing, and reporting various customized metrics, making data management and analytics intuitive and profoundly insightful. We’ll explore the innovative tools and integrations that Shipwell offers, designed to empower users with real-time visibility and actionable intelligence across their logistics operations. Additionally, we’ll illustrate how Shipwell facilitates a seamless, user-friendly experience in navigating complex data landscapes, enabling you to leverage this information for strategic decision-making and operational excellence.?

From operational efficiency to customer satisfaction and sustainability, get ready to uncover the multifaceted dimensions that define the true success of your TMS.

Ready to chat about how your team can leverage a TMS to help boost your shipping operations? Visit our contact page and we’ll put you in touch with one of Shipwell’s TMS experts.

→ Read Part 2

How SAM Nutrition Conquered Shipping Complexity with Shipwell—A NetSuite User's Success Story

Meet SAM Nutrition: your trusted partner for premium additives and ingredients in the animal feed, animal health, plant, and human nutrition industries. As the largest importer of feed additives and ingredients in the U.S., their commitment to quality is unmatched. But with intricate supply chains, diverse shipment modes, and a NetSuite ERP to manage it all, optimizing shipping wasn't easy.

Enter Shipwell. SAM Nutrition needed more than just a TMS; they needed a partner. Someone who understood their cost-sensitive business, complex logistics, and NetSuite integration needs. Shipwell delivered, transforming their entire shipping game.

Here's how Shipwell empowered SAM Nutrition:

• Ultimate Visibility: From TL and LTL to drayage and ocean, Shipwell provided holistic visibility across all their shipments, both inbound and outbound. No more blind spots.
• Cost Control: With comprehensive freight audit and payment, RFP bidding, and optimization tools, Shipwell slashed SAM Nutrition's freight spend by 10% and boosted efficiency by 40%. Manual work shrunk by 20%, paving the way for strategic initiatives.
• AI-Powered Automation: Shipwell's AI automated document processing, carrier selection, and more, freeing up valuable time for SAM's team.
• Streamlined NetSuite Integration: Seamless integration with NetSuite ensured data flowed effortlessly, eliminating manual data entry and boosting accuracy.
• Frictionless Collaboration: In-app communication and a readily accessible documentation repository kept everyone on the same page, maximizing collaboration and minimizing confusion.

And the results? They speak for themselves:

• 95% Invoice Accuracy: No more chasing discrepancies – Shipwell ensured invoices were spot-on.
• 61% Fewer Disputes and Claims: Fewer errors meant fewer headaches and smooth sailing with carriers.
• Happy Team, Happy Business: With manual workload down and efficiency up, SAM's team could focus on what they do best – delivering exceptional service.

But SAM Nutrition isn't stopping there. They're leveraging Shipwell's powerful analytics to continuously improve their operations, exploring optimization tools, and even expanding their international scope with ocean visibility. Shipwell is their trusted partner, propelling them towards even greater shipping success.? Learn more about SAM Nutrition.?

Is your NetSuite-powered business struggling with complex shipping? Let Shipwell be your guide towards a brighter shipping future. Contact us today and see how we can transform your operations, just like we did for SAM Nutrition.

→ Book a TMS Demo

We’d Love to Hear from You!

As always, the discussion about the supply chain doesn't stop here. Every quarter, the conversation continues right here with new and exciting topics, and we know that a lot of you have interesting ideas and valuable insights that we can all benefit from, so if you're out there, don't be shy! Leave us a comment or send us a message about what you'd like to see us discuss next!

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