Sometimes technology can be frustrating, but with the right product, it doesn’t have to be. An effective Transportation Management System (TMS) can relieve frustration out of your day if you’re a shipper, carrier, or 3PL.
A TMS combines the latest technology in an easy formula to make a one-stop-shop. It can offer the most value to a shipper and provide the unlimited strategic potential for all parties along the supply chain.
3PLs have recognized opportunities where they can create positive change within their business by introducing a TMS that provide a large range of functions. With greater visibility, shippers are given more detailed information for their viewing when they are organizing a shipment through their chosen 3PL. 3PLs also will see increased efficiency, streamlined business decisions, and satisfied customers.
Each system has its own features that differentiate it from others. Knowing what features work best for you will vary as well. Here is a list of just some of the features that an effective transportation management system can offer to your business:
Carrier Contact Management
- Allows the ability to view and compare contracts and costs with ease through the use of digitalized contacts
- Real-time tracking of terms and agreements
- Contract alerts when it’s time for renewal
Reporting and Analytics
- Offers scrubbed invoices that allow for thought-out business decisions on things like freight spend
- Optimized historical shipment data for greater referencing
- Displays distribution patterns
- Review of industry trends
- Insights into demand/order forecasts
Risk Management
- Automates the auditing process
- Generates reports as seen above to minimize potential risks
- Allows the ability to build contingency plans ahead of time
- Can be set with automatic alerts
Visibility
- Ability to track and trace shipments from pickup to delivery
- Status update notifications
- Auto pick up
- Integration with a carrier using EDI
- Display of costs and additional charges allowing an easy opportunity to compare
- Estimations on the cost of delivery
Business Monitoring
- Review performance metrics
- Review key performance indicators (KPIs)
- On-time performance
- Lane analysis
- Volume trends
- Cost per mile
- Cost per Ton
- Financial reporting
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