Trucking companies have been reducing transportation costs with a variety of tactics ranging from employing increasingly effective transportation management systems like Nationwide’s TruckTrack™ to managing their own inbound freight, according to a Supply Chain Digest report (linked below).
Transportation Management Is Key
The report describes the trucking industry as slow to implement “robust transportation management tools” and calls employing a system like TruckTrack™ a cost reduction opportunity. The SCD report continues, “Despite widespread deployments of ‘tier 1’ Transportation Management Systems, research from leading analysts companies continues to show less than 50 percent of midsized and even large companies use current, robust TMS tools. The ROI for TMS investment is generally strong …”
Other Opportunities to Cut Costs
In addition to implementing updated transportation management systems, many trucking companies can reduce costs by looking at how they handle incoming freight, enforcing compliance with their established processes and guidelines and managing their trailers more efficiently, SCD says.
One company reported cost savings from “increasing use of backhauls [one-way trailers] from supplier,” stating that this practice “generated meaningful savings … representing one of the most directly controllable supply chain cost buckets the retailer had to work with.”
Get Lean and Cut Costs Fast With Nationwide
A key takeaway of the SCD report is that many companies are overlooking significant cost reduction opportunities, particularly in how they manage transportation. Antiquated, slow, inaccurate and inefficient transportation is costing you time, customers and money. But implementing a whole new system is also costly and time-consuming. One viable solution is to add Nationwide Equipment Control to your transportation management strategy.
With powerful tools like our TruckTrack™ equipment management system and one-way trailers, we can help you start to cut costs right away, while you consider how you will update your transportation management system. And We believe there’s a good chance your new system will still include Nationwide. Contact Nationwide Equipment Control today.
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