Transportation Relationship Management
FreightPath is empowering the next generation of logistics industry leaders through advanced order visibility, inventory management, network management and team collaboration
Transportation management systems (TMS) have become an integral part of logistics companies’ technology portfolios - they’ve reduced freight expenses, provided real-time delivery tracking, and digitized much of the carrier-side actions needed for shipments. However, the current solutions fall short in a few key areas: they fail to provide sufficient visibility on inbound and outbound orders throughout the order fulfillment process, don’t have any inventory management tools, and are poor at integrating support for negotiated rate carrier contracts, which form over 60% of the total North American trucking industry.
This is why FreightPath has introduced the concept of a next-generation Transportation Relationship Management (TRM) platform, which provides a comprehensive solution for distributors and shippers looking to fill the holes left by traditional TMS and WMS implementations. In this way, the FreightPath TRM platform bridges the missing link between distributors’ inventory and transportation. It does this by providing full, inventory-level visibility on the status of both inbound and outbound orders through the entire order fulfillment process, a full inventory management solution that functions both independently and cooperatively with your WMS, advanced features to optimize carrier performance, and workflow automation for order fulfillment.
Full Order Visibility
The core goal of great relationship management is to achieve great communication, and FreightPath facilitates this by providing full order visibility with advanced sharing options so distributors, carriers, customers, and suppliers are all on the same page when fulfilling an order. SKU level granularity allows distributors to optimize how they utilize their inbound orders and inventory to fill outbound orders as efficiently as possible.
While traditional TMS implementations provides some degree of order visibility, this is hampered by the lack of increased inventory-level granularity, which necessitates an all-or-nothing order fulfillment strategy. This makes it hard to keep track of which orders have been fulfilled, to what extent, and what tasks need to be done for them to be fulfilled.
The FreightPath TRM approach tracks each order by their associated inventory line items, from the moment it enters a distributor’s hands, to the confirmation of delivery by the final customer. This both allows for tighter tolerances on mistakes made during the delivery process, and provides a method for distributors to ship like-inventory together, regardless of their final order parentage. This is especially powerful for stock transfer orders and third-party logistics (3PL) intermediaries where large batches of inventory must move regardless of the order the inventory is earmarked for.
Dedicated Inventory Management
Since current TMS solutions are focused on transportation and need to handle transportation for a wide range of businesses, they typically leave inventory management out of their feature set. By focusing on the needs of distributors FreightPath has built a platform that handles both transportation and inventory management - a first of its kind.
Thus, manufacturers are forced to either manage inventory manually through excel documents, emails, faxes and paperwork, or through an elaborate warehouse management system (WMS) solution. While these WMS implementations are extremely powerful, they are priced far outside the range of even some large distributors, and can be cumbersome, overly complex for the tasks of inventory management, and integrate poorly with existing TMS’s.
The FreightPath TRM approach here is to provide an integrated, full-featured, and intuitive inventory management system that’s integrated directly with the booking and order-processing modules. With built in support for inventory receiving, releasing, adjustments, packing, and the ability to book shipments and manage inventory in the same system, FreightPath avoids the pitfalls of other TMS and WMS systems for distributors.
Automate Key Workflows
A current pain point across different levels of the supply chain is the reliance on manual processes, which can be slow, cumbersome, and prone to manual error. While there are some tools within current TMS and WMS offerings, they cannot create fully automated workflows, as they do not cover the entire scope of order fulfillment.
This is where FreightPath TRM shines, with automated workflows spanning the entire order fulfillment process, from inbound receiving through to booking shipments. The return on investment here for manufacturers and distributors is enormous - with shipping on autopilot, backend office admin work can be automated away and HR costs can be greatly reduced.
Build Carrier Relationships
The last key deficiency of current TMS solutions is the lack of features dedicated to tracking, and improving carrier performance. While there are KPIs and carrier analytics packages built into most modern TMS solutions, they fail to provide features to communicate these performance metrics between a distributor’s customers, suppliers and carriers.
FreightPath’s TRM approach solves this with real time chat between shipment stakeholders, real-time issue reporting, carrier performance analytics, specialized and intuitive-to-use customer and carrier portals, and outbound shipment accuracy confirmation. These features work to not only to track carrier performance, but they come together to form a holistic view of carrier performance.
This is the foundation of the transportation relationship management strategy - to provide distributors - as well as their suppliers, carriers, and customers - with the knowledge and information they need to turn operational discussions into strategic ones, and strengthen the relationships they’ve built by making logistics more transparent and trustworthy.