Transportation Procurement and Payment: Righting the Ship in the Middle of the Storm

May 08, 2009 in Transportation & Logistics

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Best-in-Class companies are 3.1x as likely as all others to have reduced negotiated freight rates in the last 12 months.
The cost of processing an invoice for Best-in-Class is 33% less than Industry Average.
Best-in-Class companies are 4.5x as likely as all others to have reduced their baseline freight spend by 5% or more in the last 12 months.

The logistics eco-system is a critical driver in the growth of a nation’s economy and it is important that all efforts be taken to keep it running smoothly. In the past 12 months, transportation professionals have been faced with an unfortunate asymmetry: the carrier rates and charges that rose with spiking fuel prices have not fallen to the same degree as a barrel of oil. This persistence, when coupled with present and future concerns over the continued viability of large-scale carriers and its effect on available capacity, call attention to the importance of transportation procurement and payment to the overall performance of the enterprise.