Rygen Technologies is a premier supply chain technology provider, that enables any company to quickly, easily, and efficiently execute and manage freight, connect with partners, and unlock data insights for their supply chain. With emphasis on advanced technology and exceptional customer service, Rygen is fueling the creation of smarter, data-driven solutions that deliver real value and solve real business problems.
This week, we are continuing our discussion on the specific features that your Transportation Management System (TMS) should offer, with Carrier Selection. Carrier Selection allows companies to conveniently view and manage carriers, contracts, and rates in one place. Users can effectively integrate with benchmark providers and increase automation while omitting errors with the advanced routing guide. Carrier Selection offers a variety of key benefits in the following areas:
1. Rates
The Rate Shop will show you all available carriers you have contracted that service the lane you are rating and provides details like accessorial costs. You are able to choose the best and most affordable rate from the options that are offered. Carrier Selection offers a degree of flexibility and comfort as the buyer is able to choose a cost-efficient option.
2. Benchmarks
Benchmarks allow you to view what you would have paid in the past for this shipment. Rather than waiting until the end of the month to see reporting, you are able to analyze whether you are saving money or not, at the point of execution.
3. Market Averages
Get real-time market information brought into your Rate Shop so you can make the best decisions on whether to use your contracted rates or go to the Spot Market. Contract Rates provide predictability and stability as the market fluctuates, but having the ability to go to the Spot Market may save you money when there is extra capacity available in the market.
4. Carrier Performance
Observe the quality of work you are receiving from carriers. With carrier performance, you are able to track on-time pickup, on-time delivery, and service failures. Picking the lowest cost carrier may save you a few bucks on the transaction, but if a carrier has a poor history of losing or damaging your freight, your company could be wasting money in the long-term.
5. Capacity Commitments
A matter of simple economics — the more volume you give a carrier, the more likely they are to give you favorable rates. Capacity commitments track how often a carrier has been awarded a load for a lane. This also helps to develop and maintain long-term relationships with carriers, allowing you to have honest conversations backed by data, ultimately improving the service and quality of work you are receiving.
6. Contract Management
Create and upload contracts and related documents between client and carrier. Then, you can view the effective and expiration dates of your contracts, so you know when it’s time to renegotiate terms. Most importantly, you can program rates that will populate in your rate shop. Contract management can also ais in effectively auditing carrier invoices to see if you are being overcharged.
It is important to know the features you can receive with your TMS. Having advanced features like Carrier Selection can yield benefits that not only save you money but also improve the quality of service you are receiving as well as the relationships you have with carriers.
Do you need a TMS to better manage your freight? Interested in the Freight Planning feature? Learn about Rygen’s very own TMS, Corsair on our website or schedule a discovery call today!
Source: Image of trucks by chandlervid85 on Freepik
