Sourcing Software: best practices for Logistics in 2017

Sourcing Software: How are businesses improving logistics procurement in 2017?

 

Procurement in the Logistics environment is on the verge of moving to the next level. Thanks to new technology, modern cloud-based sourcing software will enhance decision-making in 2017.

Collaborative data, supplier relationships, and market trends are seamlessly interconnected, deploying procurement to the frontline instead of a company’s back function.

Many in the logistics industry believe that 2017 will be a turning point for sourcing departments. Perhaps breakthrough is even more suitable. The fueling factor is without a doubt the unrivaled collaboration within the enterprise. With technology emerging, procurement teams now have dedicated sourcing software at their fingertips. Thanks to this evolution, business-impact becomes measurable and decisions are based on clear, solid data. Companies that embrace the use of logistics sourcing technology, will reap a variety of benefits. We have listed the top 3 three benefits.

 

sourcing software

1.Simplifying the freight sourcing traject

 

Looking at 2017 and onwards, there is absolutely no need for the traditional complexities involved with supply chain sourcing. In fact, best in class companies are already making use of the latest technology, allowing them to simplify the procurement process. As a result, companies magnify organizational targets with streamlined strategic sourcing procedures. Let’s break it down. Companies gain strength in various fields:

  • real-time project visibility
  • Improved supplier visibility (Collaboration!)
  • Dedicated communication flow in the cloud
  • Strategic decision-making based on comprehensive data

This sounds nice, but the result is even better. Thanks to the improved process, companies can go beyond just cost savings and tackle strategic issues, such as ensuring that resources are allocated appropriately or that suppliers are selected for ROI. By implementing a company-wide sourcing methodology, metrics become more strategic and the company stays ahead of the curve.

 

2. Mitigate risks around data

 

Corporate vulnerability is one of the area’s where technology is going to make a difference. Management around compliance and supplier data / contracts should no longer be an issue. Procurement teams equipped with the latest technology can flag issues based on real-time information. This will help procurement to:

  • Predict business outcome
  • Monitor supplier performance
  • Mitigate inconsistent decision-making
  • Improve supplier relationships

3. Document and contract management

 

Before the tech ‘revolution’, procurement and sourcing teams had insufficient visibility into contracts and their associated risks. Nowadays, the management of documentation and contracts is easier than ever before. Freight procurement professionals are equipped with full data transparency. As a result,  legal departments have immediate insight into compliance, governance standards, and reporting. Stakeholders can instantly access any bidding history or supplier service agreements, minimizing risk exposure and simplifying the freight audit and payment processes (financial overview).

Conclusion

 

Altogether, integrating modern sourcing software technology —  a fully cloud-based and mobile-friendly solution — puts companies in pole position. It seems like 2017 is the year to bring sourcing to the next level. Collaboration and partnerships are key. Most of all, the technology is there and ready. As a result, sourcing and procurement teams are ready to transform. It is a matter of time. Procurement becomes more dynamic, responsive, lean and agile. First and foremost, we gain data visibility. Secondly, communication and collaboration are enhanced. 2017 is the year that lifts sourcing to a dynamic and collaborative process. We are ready when you are!

 

About Freightender – The independent E-sourcing Solution

 

Freightender takes away the pain and frustration in tendertool.ahabr.teching as that is common ground for both shippers and carriers. Tenders typically take too much time, are too complex and not standardized.

Our unique sourcing features in the cloud:

  • Automated calculations
  • Easy communication with carriers
  • Full status visibility
  • Automated rate card creation
  • Extensive reporting
  • Scenario building

 

sourcing software

More Freightender Logistics E-Sourcing content

 

Road Freight: How To Improve Your FTL Tenders

Sea Freight Benchmarking Best Practices

5 Proven Tactics To Receive The Best Freight RFQ Results

7 Ways Logistics E-Procurement Will Boost Your Logistics Tenders

Transportation Tenders: What Makes Freightender Different?

 

 

Request your free demo account

 

[contact-form-7 id=”7275″ title=”DEMO Request”]

 

 

15-unlimited-trial-access

 

Request your free Trial environment

 

[contact-form-7 id=”7274″ title=”Trial Request”]

Pieter Kinds

Pieter Kinds

CEO Freightender.com

Freightender is the standard in freight tendering. It makes the tender process lean, smarter and much faster. 
Fully cloud-based. Curious? Request a free live demo and join the Freight Tender Revolution!

Schedule Demo Freight Sourcing

Schedule Demo RFQ Management

How shippers and forwarders can streamline the freight tender process

In the forwarder world, there are a lot of people you typically don’t deal with as a shipper yet they are handling and responding to your tender: tender managers, pricing managers and pricing analysts. Their job is often performed under high pressure from the outside...

Freightender and Portrix Logistic Software partner to empower freight forwarder tender teams

Sep 28 2020 at 09:23 AM In 2020, the need for digitization in logistics has really accelerated and this is especially true for the freight forwarding community. One of the main areas of focus for forwarders is how freight tenders are being managed today– often a...

Freight Tenders: 5 crucial tips to ensure carrier engagement

Freight tenders are not only dependent on solid freight data (historical data). The willingness of carriers to participate in freight RFQ's is a big factor as well. In this article, we share 5 vital tips to increase carrier participation in your freight tenders. The...

Digitize logistics procurement: 5 Reasons to act NOW!

Many companies are now developing strategies to buy freight in a more digital and efficient way, creating a new structure for a lean and innovative way to logistics procurement. What are you doing? More and more forwarders discover areas for optimization and...

E-Sourcing freight checklist: What is logistics looking for?

Despite the fact that the procurement and transportation sectors are slow adopters of technology, the rat race has already begun. Many companies are inquiring the platform provides full visibility all the different steps in the project and the timing associated....

Spot bidding: what to expect in Q3-Q4 2020?

Decisions made in logistics and supply chain always have had a strong impact on a company's bottom line. It was, is and always will be a major factor to accomplish competitive advantage in any industry. One of the decisions enterprises confront is the question of...

State of logistics procurement in EMEA
(and where the market is headed)

We want to give you a short overview of what is happening in the world of logistics procurement from our perspective. LTL/FTL Freight The market has dropped enormously for most carriers. Estimates go from 50 to 80% of the business. Most shippers are holding off on new...

Why forwarders and carriers are pricing transportation into oblivion

Carriers are pricing transportation into oblivion Pricing, quoting, answering to transport tenders, whatever you call the process, is a highly underrated process within many forwarder and carrier organizations. It is a process that is subject to shared...

5 simple freight tender tips for 2020

5 simple freight tender tips for 2020 The logistics market is ever evolving and has never been more dynamic than in 2020. Globalization, digitization and political events such as Brexit make that logistics professionals need to be on their toes to ensure ongoing...

How do you rally your carriers around your freight tender?

How do you rally your carriers around your freight tender? For many, shippers and carriers alike, freight tenders are a necessary evil, yet one has to put in full effort to get satisfying results. Often this does not happen and tenders are not complete, are stretched...