JAGGAER, the world’s largest independent spend management company, presents a forward-looking conversation on 2019 transportation procurement trends with Kevin M. Zweier, Chainalytics’ Vice President of Transportation, on JAGGAER’s InsideSpend webinar and podcast series. This webinar is designed to provide actionable intelligence and insights for Chief Procurement Officers, VP’s, and Directors and Managers of procurement locally and globally.
Chainalytics, a global leader in supply chain consulting, analytics and market intelligence, provides procurement optimization and transportation modeling services as well as manages the Freight Market Intelligence Consortium (FMIC), a member-based benchmarking forum encompassing $39 Billion in annual freight spend. Through FMIC, Chainalytics tracks shifting transportation markets in the U.S. as well as around the globe.
Some specific trends shippers need to be aware of right now and in the coming year include pricing volatility across all freight modes (U.S. truckload pricing is up over 20% in the last 12 months), capacity limitations fueled by a strong economy, rising fuel and labor costs, and regulatory policies (e.g., ELDs and emission standards) that will impact capacity and thus pricing.
Transportation remains an established category leader in the procurement space, typically finding itself ahead of the curve in terms of technology and implementation and often lays claim to early testing grounds for emerging procurement and sourcing applications. Procurement software allows for “fact-based, data-driven decision making, which is critical for managing the current transportation ecosphere and developing a company’s broader supply chain strategy,” observes Zweier.
“In today’s high-demand and inflationary transportation market, shippers are very concerned about securing adequate amounts of freight capacity; thus they need to optimize all aspects of their delivery strategy and employ additional methods to drive operational efficiencies that allow them to remain attractive to an increasingly selective supply base” he adds.
Zweier addresses the current state of transportation in light of procurement and sourcing technologies, and discusses what both shippers and carriers need to be aware of as they face a challenging 2019. This is a must-view webinar for any transportation professional working within this space.