In today’s hyper-competitive shipping industry, even a small overhead reduction can mean the difference between profit and disaster, while a late or non-compliant delivery can keep supply chain managers popping antacids like candy.
The bad news? Due to three different challenges, things are about to get even more hectic.
As tracked by FTR, 2018 has already seen record market demand due to tight shipping capacities and limited driver supply. The new controversial ELD mandate is also likely to drive shipping rates even higher. And Walmart’s “no error” OTIF initiative is set to cause serious shipper stress. As of late 2017, only 10% of Walmart’s top 100 suppliers were hitting OTIF-compliant performance levels, which means a lot of profit-eating fines are about to be unleashed. If this new mandates catches on with more retailers and suppliers like Home Depot, Lowe’s, Fastenal, and Menards, you can expect each vendor’s margin of error (and profit margins in general) to keep shrinking.
In short, everyone is looking for smart ways to save in a complex freight market while meeting every new delivery standard and avoiding costly penalties.
An interview with Target Freight Management’s Mike Wagner will include a discussion around new regulations and a patented solution that removes the headaches from high-performance shipping.
Target Freight’s proprietary Freight Innovation Density Analytics (FIDA) technology is designed to maximize shipping savings while eliminating the “surprise” upcharges that can turn a $200 shipment into a $2000 shipment.
“No other technology in today’s market can analyze all the variables of a shipment and make a determination against any carrier rules,” says Wagner. “Our newly-patented FIDA system not only does this, but it also provides additional savings for our clients above and beyond the negotiated rate.”
According to Wagner, with FIDA and other elements of TFM’s technology stack, clients can ship with confidence that the rate they see in the computer is the rate they are going to pay. “We successfully manage our clients’ expectations, visibility, and predictability in their supply chain costs. We save them time by eliminating the need to double-check costs, carriers and shipments. By empowering our customers to ship with less worry, we free them up to focus their time and energy on what they do best: make and build.”
All of which means Target Freight is helping clients reduce overhead, avoid penalties, and sleep better at night.
About Target Freight Management:
Target Freight Management, Inc. is an Inc 500/5000 company, has been ranked Fastest Growing Company in Pittsburgh, and was voted Best Place to Work in Pittsburgh by our team members.
TFM is an industry leader in Less Than Truckload and Truckload Transportation Management using innovative and proprietary Transportation Management Systems that empower customers to ship with confidence. TFM Develops a full range of solutions for the Logistics industry from Back Office applications to our Patented TMS.
Since our launch in 2009, we have received prestigious awards and recognitions, including:
· President and CEO Entrepreneur of the Year for 2017 by Ernst and Young
· 2017 “Best Places to Work” by the Pittsburgh Business Times
· 2017 TFM Truckload business finished #1 in the Manufacturing and Transportation category and # 2 among the Fastest Growing companies in Western PA by the Pittsburgh Business Times
· 2017 Target Freight Management LTL was also in the top 100 Fastest Growing Companies in Western PA by the Pittsburgh Business Times, finished at #54
· 2012 # 1 Fastest Growing Company in Western PA for Target Freight Management LTL, which has remained on this list every year since.