Smarter Shipping, Volume 51: Fireworks in Freight
Hello,
We are bringing you Volume 51 of "Smarter Shipping" from Intelligent Audit.
In this edition of "Smarter Shipping," you will find:
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Fireworks in Freight: From FedEx's Fortune to Temu Hogging Air Cargo
FedEx lit up the healthcare sector with a $500M boom in new business. At the same time, UPS dropped a bombshell on 540 workers with plans to close its Baltimore facility. Ocean shipping's feeling the heat too, with Red Sea troubles pushing Asia-U.S. West Coast rates to a sizzling $7,052 per container. Amazon's not chilling either, aiming to spark another Prime Day record with $14.7 billion in sales. Meanwhile, as U.S. and Mexican truckers unite for better conditions and corporate giants scale back due to high interest rates, budget apps Shein and Temu disrupt air cargo markets, straining capacity and inflating rates. So grab a cold one and settle in — we're unpacking all these hot topics and more this week.
Intelligent Audit Recipient of 2024 Top Supply Chain Projects Award
We are thrilled to announce that Intelligent Audit has been named a recipient of the 2024 Top Supply Chain Projects Award by Supply & Demand Chain Executive and Food Logistics. This award recognizes innovative projects designed to automate, optimize, streamline, and improve the supply chain.
?About the Award:
?Intelligent Audit has been honored for our proprietary anomaly detection software and expert team that analyzed shipping data for a leading specialty pet retailer. This analysis enabled a cost-effective next-day ground footprint for e-commerce orders. Our technology flagged an unusual spike in shipping costs, leading to significant savings for the retailer.
?Marina Mayer, Editor-in-Chief of Supply & Demand Chain Executive and Food Logistics, highlighted the importance of partnerships and technological upgrades in the supply chain industry. "The past 12 months have seen companies upgrade, enhance, adopt, and adapt to achieve greater efficiency. Their partnerships cultivated resilience and placed a spotlight on projects designed to make the supply chain space safer and more efficient," she said.
?Intelligent Audit’s success story involves identifying an erroneous shipping charge that resulted in additional weekly costs of $35,000–$45,000. By investigating SKU quantities, we pinpointed the cause and provided actionable insights, showcasing the power of our machine-learning algorithms.
?"We are thrilled to be recognized as a Top Supply Chain Project," said Intelligent Audit CEO Hannah Testani. "Our anomaly detection technology provides invoice-level results at significant speed and scale, something no person or team of people could ever accomplish."
领英推荐
New Fee, New Problem: Deep Learning Models Spot an Erroneous $3800 Excess Mileage Fee
Imagine a financial services company that relies on same-day shipping to meet tight deadlines. One day, they started seeing unexpected "Excess Mileage" fees, driving up their costs without any changes in their shipping patterns. Historical shipments to the same destinations had never incurred such fees before.
Enter IA. Our advanced deep learning models quickly identified this new anomalous charge, flagging it as suspicious. The dedicated account management team then dived deep into the historical data, confirming that similar shipments had never been charged this fee.
By pinpointing the issue and acting swiftly, IA enabled the customer to secure a full refund from the carrier, who admitted the charges were errors due to a recent change in the customer's rate table. Most importantly, IA’s rapid detection saved the customer from potentially losing tens, if not hundreds, of thousands of dollars in future erroneous charges.
Curious to see how IA can protect your bottom line and enhance your shipping strategy?
Download the Full Case Study and discover the transformative power of IA.
The latest insights from the?Intelligent Audit Resource Hub
Beyond Recovery: Freight Audit's Impact on Strategic Decision-Making
Managing a bustling warehouse or a sprawling supply chain means every shipment and freight bill matters. At the heart of this operation lies the freight audit, a meticulous process that accounts for every dollar spent, catching errors, ensuring financial transparency, and uncovering hidden opportunities to save 2% to 5% on your transportation budget.
But freight audits do more than just save money. They enhance transparency, optimize cost management, strengthen budgeting processes, and drive operational excellence. Imagine finding hidden savings in every invoice and using real-time data to keep your budget agile and competitive.
Curious about the transformative power of freight audits?
Precision Analytics: Cost Allocation with Anomaly Detection in Logistics
Running a logistics operation often feels like playing an endless game of whack-a-mole with costs. One day it’s sky-high fuel prices; the next, inventory overflows. However, precision analytics and anomaly detection can change the game. Think of precision analytics as your all-seeing eye in the chaos of supply chain management, predicting demand, optimizing routes, and managing inventory. Pair that with anomaly detection, and you can spot trouble before it happens, saving you from costly errors and inefficiencies. Imagine catching a weird pricing blip before it drains your budget. Curious how this works in action?
Keep Reading to discover how IA can transform your logistics strategy.
We hope you have a great weekend! Stay cool out there!