Features impacting Transportation Spend Management

Transportation Spend Management for effective cost management

by BlogTSM Services

Disruptions in the global supply chains are affecting businesses worldwide. The price of ocean and air freight is steadily increasing. Now, the global container freight rate is rising significantly. It has reached USD 5,900 in July 2024. For instance, DHL believes freight rates will increase in the next few months. The freight rate hike can be due to port congestion, strong demand, and other global factors. The freight rate hikes affect the profit margins of companies. With this information, shippers and shipping carriers can make better decisions regarding the time and place to ship their goods.

Further, cutting transportation costs is a priority for many companies. Supply chain challenges and uncertain economic growth are fueling cost-cutting measures in businesses. Investing in Transportation Spend Management can lower an organization’s shipping expenses. Earlier, we had discussed the concept of Transportation Spend Management. This article will examine the main aspects impacting Transportation Spend Management.

Management of transportation costs

Businesses have to bear expenses when shipping packages from one location to another. Transportation costs include fuel prices, warehouse fees, transportation modes, carrier rates, and more. Shippers with high shipping volumes and shifting consumer trends require a robust solution to reduce costs. Companies have to manage expenses with meticulous planning and efficiency.

Additional transportation expenses include shipping insurance, specialized handling, packaging, storage, etc. Managing transportation costs is challenging due to imbalances in inventory and regulatory compliance. Further, investing in technologies like Transportation Management Systems (TMS) and Warehouse Management Systems (WMS) is expensive and requires training and expertise.

Technology to manage costs-Transportation Spend Management

The overall visibility of transportation costs is possible through an advanced software, Transportation Spend Management  (TSM). In our previous blog, we explained the significance of TSM  in reducing costs. Transportation Spend Management normalizes transportation data. It analyzes data through tools like data analytics, tracking, and reporting. It tracks expenses and streamlines shipping operations. TSM solutions offer cost-saving opportunities and enhance customer satisfaction.

Factors Impacting Transportation Spend Management

TSM, or Transportation Spend Management, helps businesses stay competitive with increased customer satisfaction. It is essential to consider the following factors impacting Transportation Spend.

Various modes of transportation

Companies can reduce shipping expenses with various transportation modes. Shippers can reduce transportation costs by using many shipping modes like trucks, rail, air, and ocean freight according to the delivery requirements. For example, businesses can use trucks for short-distance delivery of goods. Shippers can decrease shipping costs and optimize route efficiency based on shipping requirements.

Supporting various modes of transportation can minimize delays and increase profits. A cost-effective strategy is to optimize the cargo capacity in the containers and reduce the empty spaces. Shippers need to explore the transportation modes and services as it will affect their business profits.

Shipments consolidation

Businesses have to fill the shipping containers so that shipping is cost-effective. Shipment consolidation involves merging small shipments into one shipment to a single destination. Consolidating shipments saves money and improves supply chain performance and operational efficiency. In addition, the cargo space in a shipping container increases with a decrease in individual trips.

Dimensional weight pricing by shipping carriers is costly. Shippers can reduce the dimensional weight charges by using compact packaging and box size reduction. Shipment consolidation lowers transportation costs and enhances customer satisfaction.

Distance and delivery speed of shipments

Long distances and faster delivery speed of shipments attract high invoice prices. Long-distance delivery of goods involves more fuel consumption and workforce. Express delivery services involve dedicated personnel and prioritized handling. Both these aspects of shipment delivery are expensive and can erode a company’s profit margins.

Employing strategies for regional sourcing of goods can decrease the delivery travel time. Shipping packages to distant locations by ocean freight is time-consuming, but it is a cost-effective option. Further, pre-planning to procure goods for shipping in a shorter transit time decreases transportation costs.

Negotiate Carrier rates and contracts

Shipping carriers offer shipping rates to companies based on market demand, capacity, distance, and service levels. The contractual agreements between shippers and shipping carriers include rates, payment terms, service levels, insurance coverage, and liability.

Negotiating carrier contracts and rates is challenging for businesses. Shippers can secure discounts and preferential rates from shipping carriers during contract negotiations. Negotiations with the shipping carriers are about services, delivery guarantees, rates, and surcharges. Further, businesses can negotiate flexible contractual agreements with reliable shipping carriers. Shippers benefit from discounts and lower rates by building strong carrier relationships.

Utilization of technological solutions

Data analytics provides real-time visibility into shipping operations. Internet of Things (IoT) sensors monitor cargo conditions to ensure it is safe from damage with proper handling. Automation technologies like robotics and autonomous vehicles can streamline the order fulfillment process. Transportation Spend Management works on AI-powered platforms to monitor and track on-time deliveries of packages.

Companies that utilize technological solutions like Machine Learning and intelligent algorithms can analyze shipping data and save money. Further, businesses can benefit from dynamic Transportation Spend Management with real-time operational visibility.

Partnering with third-party logistics

Businesses benefit by partnering with third-party logistics (3PLs) as they streamline shipping operations. Functions like warehouse management, labor, equipment, and fleet management can reduce transportation costs effectively. Further, 3PLs use the latest technological developments for efficient transportation processes.

3PLs offer flexibility to businesses to use resources based on their needs. They help shippers deal with delays in shipping goods and other unforeseen circumstances. 3PLs can reduce transportation costs with their expertise and resources.

How does Audintel lower transportation costs with Transportation Spend Management?

Audintel helps clients control their shipping expenses with its Transportation Management (TSM) services. We offer parcel and freight audit services that can identify mistakes in shipping invoices among more than fifty audit checkpoints. Our teams process carrier invoices and identify unwarranted charges with our Multi-point invoice audit. Companies can avoid penalties with our timely invoice processing and payments.

Audintel’s intuitive and customizable dashboards lower transportation costs and optimize shipping operations. Shippers can get in-depth, real-time data on shipment expenses. We help businesses save transportation costs by minimizing failed deliveries and aiding in refund processes. Our team has experts in carrier contract negotiations to help shippers negotiate efficiently with shipping carriers. Our comprehensive tools with customizable shipping reports save money for our clients.

Audintel optimizes freight costs with its TSM services. We leverage historical shipping data to gain insights into cost-saving opportunities for shippers. Clients can track their freight in real-time and identify discrepancies in shipment deliveries. Our TSM solutions highlight cost-saving opportunities for shippers with actionable freight data. Audintel’s SaaS Business Intelligence portal provides greater clarity of carrier performance, making it easier to choose reliable shipping carriers.

The bottom line

To avoid geopolitical disruptions and increases in shipping costs, companies are rethinking their supply chain management. Shippers are changing their manufacturing location, product lines, and procurement strategies. Shippers have to meet customer expectations with faster deliveries while decreasing shipping costs. It is challenging but possible when you partner with reliable service providers like Audintel.

We help businesses control their transportation spend through our TSM solutions. Our AI-powered software tools analyze shipping expenses and identify areas for cost reduction. The actionable, agile platform of Audintel gives real-time analysis of shipping data. Our TSM cloud-based solutions reduce organizational costs and increase operational efficiencies. Our support staff negotiates to get refunds from carriers on time. Audintel is continuously embracing technological advancements and optimizing transportation spend. For effective budgeting and expense reduction, use our TSM services.

To try our state-of-the-art TSM services, contact us at +1 (619) 354 8539. Additionally, visit the Audintel website to explore ways of reducing transportation costs with our products and services.

Amazon Shipping Solutions

Amazon Shipping Solutions: an alternative to UPS or FedEx

by BlogTSM Services

E-commerce business is highly competitive as almost all products are available on different marketplaces. Companies offer cheaper, reliable services to stay ahead of their competitors. Further, technological innovations and dealing with customer expectations are necessary for businesses. Automation in e-commerce is essential to have an edge over competitors. A reliable e-commerce logistics partner can lower shipping costs, and maximize efficiency. Reducing shipping expenses using data analytics is discussed in our earlier article.

Moreover, last-mile delivery of packages is a vital part of the shipping process. Two-day or one-day shipping has become the standard option among consumers. E-commerce company Amazon has dominated the last-mile delivery ecosystem globally. According to news sources,  Amazon has become the largest delivery business compared to UPS and FedEx. Further, in September 2023, Amazon renewed its shipping services for independent sellers.

So, what do Amazon Shipping services mean for businesses? It is a part of our focus in this article. In addition, our discussion will concentrate on the advantages of Amazon Shipping solutions. Further, we will see how Amazon Shipping varies from competitors like FedEx or UPS.

What are Amazon Shipping Solutions?

Amazon Shipping Solutions will deliver packages not only from its website but also from other websites. It is a ground delivery service for sellers who manage their orders. In addition, Amazon Shipping offers pickup services. Amazon can pick up packages from warehouses seven days a week. It can deliver them to customers in two to five days.

Amazon Shipping solutions have simple rates with no weekend delivery charges. Further, there is no residential delivery surcharge. These extra savings help e-commerce companies garner profits. The expedited shipping options allow shippers to satisfy customer’s expectations. Amazon Shipping allows easy and fast to file claims for refunds, resolved within 24 hours. They have a dedicated support staff for queries regarding shipments. As a consequence, small and medium-sized businesses benefit from these services.

How does Amazon Shipping compare with other shipping carriers, such as UPS and FedEx?

Comparison between UPS, FedEx, and Amazon Shipping

The U.S. has many shipping carriers for online businesses. They include UPS, FedEx, U.S. Postal Service, and more. Choosing a shipping carrier suitable for one’s business needs is essential. Negotiating with shipping carriers for lower shipping rates can impact business growth. Affordable, faster delivery services are the need of the hour.

The U.S. Postal Service (USPS) has high volumes of parcel deliveries. However, Amazon Shipping services can rival UPS and FedEx parcel deliveries. UPS offers higher shipping rates for small parcel deliveries. FedEx offers steep shipping rates for express and specialized services. Both UPS and FedEx offer few discounts to low-volume shippers.

Alternatively, Amazon Shipping is an attractive option for shippers. Amazon claims easy-to-understand shipping rates rather than the complex ones of UPS and FedEx carriers. UPS and FedEx shipping rates are complex for a small business retailer. Further, Amazon Shipping has many advantages compared to UPS and FedEx. For instance, Amazon Shipping Services picks up packages and delivers packages on weekends at no extra cost. In addition, the absence of a residential delivery surcharge is a boon for shippers. Amazon shipping for sellers boosts their profits. However, Amazon Shipping is limited to domestic shipments within the contiguous United States.

Amazon Shipping solutions include Amazon fulfillment services for businesses.

Amazon FBA (Fulfillment by Amazon)

Fulfillment by Amazon is a part of the supply chain services of Amazon. Shippers can send their products to Amazon’s fulfillment centers and offer free shipping to customers. Amazon Prime shipping allows for free, two-day shipping of packages. The Fulfillment centers pick, pack, and ship the orders to customers quickly and efficiently.

FBA costs depend on the weights and dimensions of packages. They also have inventory storage costs for products stored in the Fulfillment centers. Amazon FBA allows delivery of products to customers quickly and at lower costs. Amazon Shipping services manage shipping and customer services when businesses choose FBA. Further, shippers can manage their inventory and track shipments.

Alternatively, shippers can avoid extra storage costs for their low-demand products. They can opt for the Amazon Fulfilled by Merchant (FBM) option. Shippers with warehousing and delivery networks can reduce shipping costs using Amazon Shipping services. However, shippers are responsible for the packaging and shipping of orders. They are also involved in customer satisfaction.

Amazon Marketplace

Shippers can sell their products on Amazon’s e-commerce platform. It is known as Amazon Marketplace. Companies with a large number of products advertise on Amazon Marketplace. It gives shippers opportunities to maximize their profit margins. Further, it effectively optimizes products to increase business prospects.

Amazon Shipping services for e-commerce

Amazon provides detailed end-to-end tracking of packages in real time. Customers can track their shipments and get information about the package’s arrival time. Amazon Shipping solutions meet customer expectations with parcel deliveries on time. It provides a seamless delivery service for last-mile orders. Thus, Amazon Shipping aids e-commerce businesses with fast, efficient services.

Consider Amazon Shipping Solutions: Audintel.

Amazon Shipping is one of the cost-effective shipping solutions for online retailers. UPS, FedEx, and other shipping carriers have different shipping solutions for shippers. We believe that shippers should consider Amazon Shipping services along with UPS, FedEx, etc. However, Amazon Shipping offers services that rival that of UPS and FedEx. No weekend delivery fees allow shippers to send parcels on weekends. No residential delivery charges make it a more cost-effective option for shippers.

We understand that the shipping profile of each company is unique. Our team of experts helps shippers negotiate with shipping carriers for deeper discounts. However, if Amazon Shipping solutions include cheaper shipping rates, it is a good option. Audintel’s intuitive dashboards can provide shipping details so businesses can choose the type of shipping carrier. Our Business Intelligence (BI) tools can leverage shipping data to optimize transportation spend. It allows shippers to make informed decisions on their shipping spend.

Wrapping it up

The greatest challenge for shippers is to keep up with the delivery demands of consumers. UPS and FedEx are the primary parcel delivery carriers in the United States. For huge volumes of parcel shipping, USPS is usually the preferred courier. Amazon Shipping is competing with other parcel carriers for faster parcel deliveries.

Amazon’s reputation as a reliable transportation company is attracting many businesses. Further, their cost-effective, efficient delivery service and support are winning many shippers.

As reducing shipping costs is essential for shippers, Amazon Shipping has many benefits. Audintel believes that shippers should consider Amazon Shipping Solutions as a good alternative.

Audintel has a wide range of technological solutions for transportation spend management. Our robust BI tools and intuitive dashboards give businesses valuable insights into their shipping profiles. We advise shippers on the different shipping carriers. Our shipping experts also help in negotiating carrier contracts. Contact our experts at +1 (619) 354 8539 to learn about Amazon Shipping services extensively. Further, visit our Audintel website for the various state-of-the-art services provided by us.

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Reduce shipping costs of small parcel shipments seamlessly

by BlogTSM Services

The postage charges of the U.S. Postal Service are rising, according to the latest news. USPS Ground Advantage service is one of the simplest, affordable ways of shipping small parcels. But, its prices have increased. Similarly, there is an increase in the prices of USPS Priority Mail® and USPS Priority Mail Express® services. Further, the annual shipping rates of major small parcel carriers like FedEx and UPS have seen an upward trajectory.

It has led to a rise in the cost of shipping services for businesses. Many shippers are searching for faster and cheaper ways of shipping small parcels. Small parcel delivery companies offer discounts and affordable shipping rates. However, shippers need to know where to look to get the best service.

Regional carriers compete with the bigger shipping couriers with offers of different service options, fees, and more. Nowadays, the demand for free shipping and fast delivery is growing. E-commerce owners have to fulfill customers’ expectations and lower shipping costs. So, companies must find ways to reduce shipping costs.

This blog will cover the five ways to lower shipment costs and make profits for companies.

Factors affecting shipping costs

Small parcel shippers face challenges of packaging and labor shortages. To increase business profits, reducing shipping costs is vital. In addition, it is necessary to meet customer expectations when delivering small parcels. There are several factors affecting shipping costs.

The main factors affecting shipping costs include

  • Delivery speed and service

Faster small parcel delivery satisfies customers’ needs. Last-mile delivery of packages can influence shipping costs. In addition, the service levels provided by small parcel carriers like ground or air transport affect the shipping costs.

  • Weight and dimension of packages

Heavier packages cost more. Package dimensions also can affect shipping costs. Bulkier packages occupy more space in a delivery truck. Thus, small parcel delivery companies charge more for the packages.

  • Shipping distance

It will be costly to ship a small parcel far away. It will be cheaper to ship it to a nearby location. Small parcel shipping costs increase depending on the shipping zones within the contiguous US states. Small parcel international shipping involves taxes and duties affecting shipping costs.

  • Surcharges

Accessorials can influence the shipping expenses. There are many surcharges, like additional handling charges, fuel surcharges, residential delivery fees, delivery area surcharges (DAS), and more. The surcharges can add to the shipping costs if the shippers are not vigilant during shipping.

These factors will affect the calculation of shipping charges. Companies can reduce expenses by partnering with 3PLs and warehouse management. Further, they can invest in efficient packaging methods and streamline the shipping process.

Five ways to reduce shipping costs

According to the latest statistics, 47% of online shoppers abandon their carts due to extremely high costs. The high shipping costs could be due to taxes or shipping rates. Longer delivery time is also one of the reasons for cart abandonment. Shippers can reduce shipping costs in several ways. Audintel advises our customers about the ways to save money. Here are five easy ways to lower shipping costs.

  • Using advanced tracking software tools

Automated Transportation Management Software (TMS) allows shipping companies to reduce expenses. The tracking software helps shippers track their shipments. It provides an accurate shipment delivery time. Companies can cut shipping costs by effective planning of transportation budgets.

Audintel’s TMS effectively manages shipping spend by managing small parcel carrier payments and performance. It gives shippers an edge over shipping carriers when requesting refunds for late deliveries. Audintel monitors the package deliveries and files a refund for our customers. Shippers get insights into real-time tracking of small parcels.

  • Management of shipping rates

Small parcel carriers offer different shipping rates and delivery services to customers. FedEx and UPS increase their shipping rates annually. Shippers can choose the service levels that suit their business needs. Further, they can check the services of alternate shipping carriers. So, shippers choose from the shipping rates of many prime and regional small parcel carriers.

Audintel gives comparison data about the parcel carriers’ rates to shippers. It provides valuable data insights to shippers. Audintel helps companies optimize their shipping operations with small parcel data management. Managing shipping rates of small parcel carriers allows shippers to save money.

  • Negotiating with small parcel carriers for the best shipping prices

A well-negotiated deal is the core of each shipment. Thus, negotiations with small parcel carriers are vital for companies. Shippers can reduce shipping costs by negotiating a flat fee from small parcel carriers. Shipping carriers like UPS and FedEx offer better fees for small parcels based on the size, weight, and destination. Shippers can expect discounts for some services from small parcel carriers.

Experts from Audintel have the data about shipping rates and discounts of shipping carriers. They inform shippers about the discounts and shipping rates of the small parcel carriers so that they get the best deal. Businesses can negotiate shipping rate discounts before the annual General Rate Increase (GRI). In this way, shippers benefit from discounts offered by small parcel carriers.

  • Inform shippers of the importance of shipping audits.

Customers hate unexpected charges in their invoices during the checkout process. Shipping companies can educate customers on the complexities of the shipping process. Shippers can reduce shipping costs by creating pick-up points for customers’ orders. Businesses can negotiate with fulfillment centers for shipping packages quickly.

Moreover, shippers can decrease the size of the packages to save money. For example, use a poly mailer for small parcels instead of a box. In addition, companies can reduce the weight and dimensions of small parcels. For instance, use lightweight and compact packaging material.

Shipping audits are essential for companies to lower shipping costs. Our team at  Audintel provides an in-depth audit of the shipping process. It identifies mistakes made by small parcel carriers. We point out any improper invoicing or unnecessary charges levied by shipping carriers.

  • Streamlining the shipping process

The entire shipping process requires streamlining from beginning to end. Companies can increase profit margins by optimizing the supply chain model. Identification of supply chain bottlenecks in time prevents shipping disruptions. In addition, shippers need to pay attention to customers’ needs. Shipping companies need to adopt advanced shipping processes with efficient planning.

Audintel advises shippers about shipping strategies to increase profit margins. We provide business models to shippers that lower shipping costs. Presenting real-time delivery updates to customers helps increase customer satisfaction. Further, Audintel provides customized shipping reports for shippers to streamline their shipping processes.

How Audintel services reduce shipping costs

Audintel’s audit team has TSM services to help shippers manage their shipping profiles. Our TSM services include

  • real-time tracking of shipments
  • identifying invalid, inaccurate billing charges
  • assessing carrier contracts
  • saving with accurate pricing calculations
  • analyzing Transportation Spend
  • claims and refund processing, etc.

Audintel’s state-of-the-art cloud-based software provides access to the best shipping rates. It allows shippers to compare shipping rates of different small parcel delivery companies. We offer real-time shipping data to shipping companies. Our AI-based technology saves money and time for our clients. We aid shippers in negotiating good contracts. As a result, shippers receive the best deals and discounts. In addition, we provide shipping strategies to customers that help reduce shipping costs.

The bottom line

Small parcel shipping is complex, whether you ship locally or globally. Small parcel delivery companies add to the complexity by increasing their shipping prices. Businesses are looking for ways to ship small parcels economically and effortlessly. Small parcel audit companies help companies lower shipping costs with minimum hassles. Audintel gives shippers peace of mind with its sophisticated business intelligence solutions for Transportation Spend Management. The data analytics provided by Audintel helps shippers save money. Need help in reducing shipping costs- contact us at +1 (619) 354 8539. Further, visit our Audintel website to learn more about our services.

Audintel_in_manifest_2024_1

AI in Logistics and shipping: the focus of Manifest 2024

by BlogTSM Services

Audintel’s team was excited to be a part of the convention at Manifest 2024 in Vegas. We had a chance to interact with global innovators, executives, investors, service providers of logistics tech, and supply chains. It was a great opportunity to network with the leaders of Fortune 500 companies. The recurring theme throughout the convention was Artificial Intelligence (AI) and Machine Learning (ML) transforming the Logistics industry.

It was a very knowledgeable three days of the conference. Here are some topics covered.

  • AI is redefining the Logistics industry.

The latest statistics say that the Artificial Intelligence (AI) market size will grow to almost 740 billion US dollars by 2030. The role of AI is very prominent in the transportation sector. The logistics industry includes supply chain management needing automation for seamless operations. According to McKinsey, AI and digitalization will enable an end-to-end approach to supply chain optimization.

At Manifest, speakers from DHL and Flexport touched on AI empowering supply chain decisions. In addition, we heard from top leaders in the supply chain industry about the impact of AI and automation on the workforce and customers. There were discussions on navigating global turmoil and disruptions with data analytics and innovative solutions.

Moreover, automated warehouses are using AI and robotics to optimize shipping processes. Also, Inventory disruptions and their management are necessary for logistics. Agile and responsive supply chains are keeping pace with customer expectations.

  • Role of AI in the shipping industry

AI and ML are benefitting the shipping industry by predicting faster and more cost-effective shipping routes. An esteemed group of technology leaders talked about technology involvement in cross-border shipping. Further, Transportation Management Spend (TMS) software provides data visibility to shippers. The power of Generative AI is improving business outcomes such as on-time delivery and reducing costs.

Integration of AI and predictive analytics is transforming the last-mile delivery of packages. The concept of shipper-carrier dynamics is paramount. Leveraging transformative software and drones can improve the delivery speed of shipments. It gave insights into optimizing shipping operations with emerging technologies.

  • Streamlining shipping operations with automation

Transloading is playing a crucial role in streamlining shipping operations. Technological advances through AI and dynamic data are enabling port and shipping efficiency. Collaborating with end-to-end supply chain visibility helps Logistics Service Providers and Beneficial Cargo Owners. It increases supply chain reliability and predictability and eliminates unexpected costs.

Real-time tracking solutions and digitalization are transforming the drayage market. Railways and technology providers gave insights into intelligent automation for streamlining operations. Adopting automation technology is revolutionizing automated picking systems. It helps build partnerships between vendors and customers. Further, Truck-recognition AI is streamlining supply chain operations. In addition, unmanned technology is helping the supply chain industry. Multimode autonomous forklifts and autonomous trailer loading and unloading solutions are some examples of this technology.

  • Future of innovative products in the supply chain industry

AI and Intelligent video solutions are helping shippers improve their shipping operations. Advanced machine learning processes are empowering Freight analytics and Logistics. Further, AI and web-based invoice validation platforms are helping supply chain financing. Shippers can benefit from lower reversible costs by automating the shipping processes with advanced analytics. Shipping carrier identity is possible through a digital, integrated, secure ecosystem. Shippers can optimize order routing and reduce operational costs with order management software.

Companies like Gooten, Highway, Fixefy, and more were a part of the ingenious products. They were a part of the innovation stage of the conference.

Automation and Robotics were also part of the discussion with many startups. For instance, a warehouse robotics company, Unbox Robotics, is helping retail and logistics companies. It is increasing their parcel sorting and order consolidation productivity with 3D sorting robots. On the other hand, WideSense’s AI-powered toolchain is designing an EV fleet for profitable sustainability. The transformative potential of warehouse drones, AI, and software is optimizing shipping operations.

  • Leveraging technology for a sustainable future

Zero-emission fleet vehicle adoption will be a step towards a better world. Autonomous charging systems for electric vehicles help reduce supply chain emissions. Sustainability tools like Pledge help calculate freight emissions using Logistics data. Further, Greenabl company helps to offset CO2 emissions from the supply chain by leveraging technology. Sustainability is the core of some organizations like Polysleep and ThredUp. They are minimizing waste and saving resources. Moreover, innovative strategies for sustainable packaging solutions for food and grocery supply chains are helping the planet.

It was interesting to hear from leading shippers about sustainable investing and its incorporation into each level of corporate decision-making. The challenges of committing to ESG and sustainability goals require a change in the operating philosophy. Some maritime experts believe investing in electrification and clean container ships is profitable. However, it takes collaboration from leaders of different industries to achieve sustainability goals.

  • Safety and Regulations in the Transportation Sector

Innovative technology is streamlining online documentation and payments. Software tools are navigating the areas of carrier safety and risk management in transportation.

Cybersecurity experts highlighted the safety risks of data breaches across the supply chain industry. Further, advanced location intelligence tools are transforming delivery experiences, including driver safety.

  • Evolution of workforce in the supply chain market

Augmented reality solutions are navigating new operators in factories. It is doubling the efficiency of the workforce. Software solutions allow factories to offer flexible schedules to workers and get access to new talent pools. Supply chain leaders work towards more diverse, equitable, and inclusive workplaces. Employees are an integral part of the supply chain workforce. Leaders from supply chain industries stressed fostering inclusiveness and upskilling employees. There were many such discussions on strategies for data-backed initiatives on Diversity, Equity, and Inclusion (DEI) at Manifest.

The speakers at the conference gave insights into the various aspects of AI in the logistics and shipping industry. AI is revolutionizing different industries, chiefly the logistics industry.

According to statistics, the AI adoption rate in the supply chain business will increase by 2025. So, AI in Transportation Spend Management will benefit shippers, 3PL, and shipping carriers.

Benefits of  AI in Transportation Spend Management

Tracking and analyzing transportation data is essential for determining the budget for logistics.

Reducing transportation costs and increasing shipping revenue is integral to Transportation Spend Management (TSM). Artificial Intelligence in TSM helps in data collection, and analyzing gives spend visibility to streamline shipping costs.

Third-party logistics(3PL) providers benefit from AI in TSM by optimizing inventory management. They can analyze historical data, customer preferences, and demand patterns with the help of AI. In addition, AI can optimize inventory levels, increase or reduce stocks, improve order fulfillment rates, and more.

AI algorithms help shipping carriers analyze real-time and historical data from vehicles. They can optimize fleet utilization, evaluate alternate routes, and ensure timely deliveries. Interactive AI helps forecast shipment delivery time, automatically processes customer complaints and inquiries, etc.

AI can track packages for shippers in real time. It helps shippers automate invoices and other paperwork related to shipping. It can predict future shipping costs, changes in supply and demand of goods, and competitor prices. Intelligent algorithms can provide actionable insights to companies for making informed decisions.

For unhindered shipping operations, Audintel offers the next-generation TSM services. We help lower shipping costs and optimize routing networks.

Finally

Manifest, Vegas, 2024, helped our team to connect with entrepreneurs and industry executives and learn about cutting-edge technology and innovation across the end-to-end supply chain. Artificial Intelligence and its reach was the topic of discussion amongst us.

Audintel offers end-to-end BI for Transportation Spend Management. To Learn about our TSM services, contact us at +1 (619) 354 8539. Further, visit our Audintel website to learn more about our AI technologies enhancing shipping operations.

Transportation Spend Management

Revolutionize Invoice and Payment Management: Audintel TSM

by BlogTSM Services

In the fast-paced business world, the efficient management of vendor expenses is paramount for seamless operations. The end-to-end vendor spend process, known as the contract-to-pay or procure-to-pay process, presents significant complexities for companies.

The complexities include an intricate invoice approval workflow The process involves receiving invoices from suppliers, verifying, matching with the appropriate purchase request, reviewing, and processing the payment. An inefficient approval workflow leads to late payments, delayed goods delivery, and more.

Some challenges also involve inaccurate or missing payment reconciliation. This impact financial accuracy, and regulatory compliance. However, efficient payment reconciliations highlight data entry and invoice errors and identify discrepancies quickly.

Thus, negotiating contracts, issuing purchase orders, handling invoices, and navigating a web of approvals and reconciliations are intricate tasks that demand a streamlined solution.

Audintel’s groundbreaking, state-of-the-art Transportation Spend Management (TSM) application is transforming the landscape of invoice and pay management for transportation services. While traditional spend management platforms promise automation, they often lack domain-specific intelligence. It is needed to validate invoice accuracy, especially when dealing with diverse vendor contracts unique to each industry.

Navigating Challenges in Invoice Validation:

Vendor contracts, with substantial variations across domains, challenge Accounts Payable analysts. For instance, the disparity between a shipping contract and a Software as a Service (SaaS) contract is intricate. It leaves AP analysts without the expertise to assess invoice alignment with negotiated terms. This lack of clarity triggers a time-consuming process involving approvals, data consolidation, and manual validation against contract terms. The complexities of transportation spend calculations further compound the process.

Moreover, manual invoice processing is tedious and time-consuming. The process begins by receiving an invoice from the vendor. It requires manual entry of data into the accounting system. The invoice processing is against pre-defined tolerances. Physical copies of the invoices are scanned and stored in a filing system. Subsequently, the invoices are sent for approval. After approval, payment is possible through secure means.

Hence, a need for automation arises to overcome challenges in invoice processing and validation. Automation benefits the logistics and transportation industry by handling increasing invoice volumes. Further, automating invoice validation has advantages such as fraud detection, duplicate payment reduction, and a faster approval process. It involves technologies like machine learning, OPC, and AI-powered software tools.

Audintel’s TSM Solution:

Audintel’s TSM application addresses the challenges associated with Transportation Invoices by offering a robust platform that automates the entire validation process for accuracy and efficiency. A cost-effective and robust TSM lowers transportation costs and increases operational efficiency. Further, Audintel’s TSM analyses historical shipping data with insightful inputs on negotiating carrier contracts.

Explore how Audintel’s TSM navigates each step of the invoice processing lifecycle as given below:

Audintel Transportation Spend Management System

1. Data Gathering / Invoice Receiving / Data Entry:

  • Audintel’s TSM begins by automating receipt of the invoice and data capture process. The application handles invoices efficiently in all formats—EDI, APIs, PDF, and paper invoices, as it integrates with shipping carriers worldwide. Data extraction from invoices with the help of machine learning technology is possible with Audintel’s TSM services.
  • Normalizing data across carriers ensures uniformity for clients. Data normalization increases overall business functions. Data collection from e-commerce platforms provides insights into client preferences. The elimination of unstructured data and duplicates helps in standardizing information entry. In addition, it lowers the risk of wrong data interpretation, which is essential for data compliance.

2. Invoice Validation and Auditing for Correctness/Accuracy:

  • Leveraging advanced domain-specific intelligence, Audintel’s TSM validates invoice correctness with excellence. TSM algorithms and rule sets are made for the transportation industry and cross-reference invoice details with contract terms.

Additionally, the platform compares invoice data with client Order Management, WMS, ERP, or TMS systems, flagging discrepancies or surcharges for resolution. It helps customer-specific invoice validations with strict controls. Further, clients save shipment costs with Audintel’s comprehensive Line-item Invoice Audit and claim filing process.

3. Approvals:

  • Post-validation, Audintel TSM triggers automated approval workflows, adhering to pre-defined rules and authorization hierarchies. This automated approach minimizes delays associated with manual routing and approval, ensuring faster processing times.

The digital capture of data from paper and electronic invoices is possible through Audintel TSM. It passes through a custom-designed workflow and speeds up the approval process. Invoice processing automation integrates with other accounting systems like ERP and streamlines the approval process.

4. GL Coding:

  • Beyond validation, Audintel TSM automates GL coding, categorizing expenses accurately and allocating them to the correct GL accounts. It ensures precise financial recording and reduces errors associated with manual coding. The application integrates with various General Ledger or Financial Systems to automatically post Journal entries.

In addition, there is a review for any transaction that does not align with the set GL codes and cost allocation. TSM helps in timely intervention and error rectification with significant cost savings.

5. Payout:

  • Audintel’s TSM coordinates with payment systems to disburse funds with swift and accurate payout processes according to approved invoice amounts. This automation contributes to faster and error-free financial transactions. Suppliers get real-time updates about the status of their invoices and timely payments.

Automation of invoice processing streamlines the account payable process. The Managerial team gains more control over internal processing functions and tracks invoices. Further, clients can achieve cash management objectives while strengthening carrier relationships. Invoice processing automation helps in leveraging early payment discounts.

6. Analytics and Intelligence:

  • Audintel’s TSM extends beyond transactional processes, offering robust analytics and intelligence features. By aggregating data from the entire invoice processing lifecycle, the application provides valuable insights into spending patterns, vendor performance, and areas for cost optimization.

Business Intelligence (BI) tools manage data, reduce labor costs, and help in effective decision-making. In addition, BI tools offer actionable data for preventing conflicts and scaling down irrelevant information. Audintel’s world-class cloud-based TSM application optimizes all areas of logistics management.

7. Monitoring and Anomaly Detection:

  • Shipping disruptions are reduced with the help of Anomaly detection. Automated monitoring helps detect anomalies, which is essential for maintaining core operations. Anomaly detection occurs in real time, and mitigation actions are a part of the operations.
  • Audintel’s TSM Monitoring and Anomaly Detection module monitors spend across all modes and detects deviations from regular shipping patterns and costs. It alerts clients to take corrective action, thus eliminating recurring mistakes and fraud. Moreover, it allows shippers to take preventive actions against any shipping delays or shortage of inventory.

To summarize

Audintel TSM automates traditional invoice processing steps. In addition, it introduces advanced features tailored to the transportation industry. By optimizing transportation invoices, businesses can navigate their growth trajectories with confidence. Audintel provides deeper insights into freight and logistic spending as a technology-first and customer-focused organization.

TSM services seamlessly integrate data, automate workflows, and provide insightful analytics. Audintel TSM offers a comprehensive solution for companies aiming to revolutionize their transportation invoice and payment management processes.

With robust, state-of-the-art TSM services, Audintel helps businesses efficiently manage their complex global supply chains. Companies get accurate information about shipping operations and payments. Further, there is continuous monitoring and management of shipping carrier payments and performance with Audintel TSM services.

For more information, please visit www.audintel.com or contact [email protected] or call us at +1 (619) 354 8539.

Small Parcel Audit Services.

Advanced and cost-effective small parcel audit services

by BlogTSM Services

Omnichannel retailers and e-commerce are seeing booming growth. Further, businesses can expect a rise in the small parcel shipping volumes. According to some reports, the US Courier, Express, And Parcel (CEP) Market will have increased growth. Thus, there is substantial pressure on shippers to deliver better. Businesses have to give competitive, cost-effective shopping experiences to customers. The need to evaluate and audit different business aspects is necessary.  

Parcel auditing involves examining shipping invoices, analyzing carrier services, and identifying mistakes. Companies can audit their small parcel shipments by manual audits, use audit software, or outsource it. Manual audits require companies to invest resources. In addition, manual audits are prone to human errors. Parcel audit software is expensive and requires a technical understanding of using the software. Parcel audit services manage the entire audit process. They allow companies to focus on their core competencies and increase profits.

Our earlier blogs focused on the challenges of small parcel shipping and the importance of KPI dashboards and Business Intelligence in parcel auditing. Here, we discuss small parcel audit services and some essential audit points. In addition, we highlight Audintel’s small parcel audit services.

Small parcel audit services

During the peak season, shippers worry whether their parcels are reaching customers on time. If shippers send thousands of parcels daily, keeping track of each shipment is tedious and time-consuming. It is easier to outsource auditing small parcel shipments to companies specializing in this field.

An in-depth review of shipping invoices is integral to parcel audit services. Moreover, parcel auditing services validate carrier contracts. The analysis of shipping data provides valuable insights into shipping operations. With the help of advanced technology tools, small parcel audits identify shipping errors. These errors could be wrong weights of parcels, incorrect entry of addresses, etc. Several shipping mistakes can occur during small parcel shipping.

Parcel audit services have identified more than 50 audit points. Some of the noteworthy audit points include:

Late deliveries

Delays in delivery of small parcels or late deliveries affect businesses. Shippers either offer refunds or discounts to customers to retain them. Late deliveries can impact customer satisfaction and loss of business growth. Negative online reviews from the affected customers can cause more damage to businesses.

Companies can prevent late deliveries by using parcel audit services. Parcel auditors provide real-time tracking of shipments. It allows shippers to claim refunds from parcel carriers for late deliveries. Real-time delivery updates sent to customers and package locations make the customers invested in the shipping process. Further, shippers can also partner with third-party logistics providers (3PL) to prevent late deliveries.

Items manifested but not shipped.

Shipping manifests are documents detailing the goods to be shipped. Complete shipping information for multiple shipments is part of the manifest. The manifest contains a package quantity, weight, and reference number. Shipping manifest allows seamless handover between shipper and parcel carriers.

On placing orders, the generation of manifests and billing occurs. However, orders may change after the billing of the manifest. For example, a company has to ship eighty packages. A manifest is created and billed. But, if the company wants to add ten more packages to the order, there is a new manifest generation, and the shipment occurs. But, the company has to pay fees for the original manifest, which was not shipped. In addition, it has to pay for the ninety packages shipped. The double billing leads to a rise in shipping costs for the company.

Parcel audit services have software platforms that identify packages manifested but not shipped. It alerts the shippers about the mistakes in billing and saves money.

Residential surcharges

Additional fees applied by parcel carriers to packages shipped to a home or a home business are residential surcharges. These fees are in addition to a parcel carrier’s base rate. UPS and FedEx apply residential surcharges to small parcels shipped to a residential location. So, residential surcharges can increase the shipping costs for businesses. Alternatively, using USPS and hybrid services helps prevent residential surcharges.

Parcel auditors provide details on the residential surcharges to shippers. Further, auditors suggest methods to reduce residential surcharge costs. They help in identifying whether the address is eligible for a residential surcharge. Small parcel audit services help shippers by getting discounted rates from shipping carriers. Moreover, parcel auditors advise shippers to negotiate residential surcharges in the carrier contracts.

Delivery Area surcharges

One of the common surcharges applied by shipping carriers is the delivery area surcharge (DAS). It is an additional fee when a package is delivered or picked up in an area outside the parcel carriers’ shipping area. Rural areas and remote locations fall under the DAS category. Depending on the ZIP codes and addresses, parcel carriers decide the delivery area surcharge. Shipping carriers are planning to add more number of ZIP codes in 2024. And so, preventing DAS becomes essential for businesses to avoid escalating costs.

Shippers can reduce their shipping costs by using the services of carriers that don’t charge DAS. Experts in logistics can help identify such services. Small parcel auditors have the knowledge to advise businesses on preventing DAS charges. Further, shippers can opt for regional carriers for last-mile deliveries. Companies can reduce shipping costs by partnering with third-party logistics.

Address corrections

Companies lose thousands of dollars on address correction surcharges. Parcel carriers levy additional fees if there is a mismatch between the addresses. Shipment addresses are the addresses where the order has to be delivered. Businesses incur huge losses if they enter the wrong shipment address on the package. Or they do not validate their addresses before shipping.

Parcel auditing keeps a close eye on the invoices and detects address anomalies. Parcel audit services have cutting-edge technology that can automatically identify mismatched addresses. In addition, shippers can use software that eliminates the potential risk of entering incorrect shipment addresses. 

Signature requirements

Some businesses need delivery confirmation and require signatures from their customer. Most valuable goods like jewelry and electronic items need signatures for delivery confirmation. UPS and FedEx provide Signature Required delivery services to companies. These are additional fees levied by shipping carriers for the signature-required services. The recipient has to sign for the parcel before its release. Shipping costs vary depending on the type of services opted by the shippers.

Small parcel auditors negotiate discounts for shippers. In addition, the auditing team has experts who can suggest services that will suit business needs. Parcel audit services like Audintel save money for shippers with discounted rates..

Save on your next shipment with Audintel.

Many eligible refunds remain unclaimed by businesses due to a lack of time or resources. Companies don’t take advantage of the service guarantees offered by small parcel carriers. Audintel’s small parcel audit services ensure timely refunds from shipping carriers. In addition, we address billing errors and ensure shipping carriers meet their service guarantees.

Our business intelligence tools help shippers monitor their shipping rates and surcharges. Audintel’s experts closely examine shipping invoices and advise our clients about discrepancies. With valuable insights into the shipping data from Audintel, shippers can negotiate great deals with parcel carriers. Audintel optimizes small parcel shipments seamlessly.

To wrap it up.

Companies find it complex to identify inaccuracies in shipping invoices on their own. Parcel audit software has its drawbacks. Small parcel audit services help companies streamline their shipping processes with minimal effort. Parcel audit services are vital for the efficient and cost-effective management of your transportation spend. Choosing Audintel is beneficial for businesses to make informed, data-driven decisions. Are you ready to optimize your shipping operations with small parcel audit services? Contact us at +1 (619) 354 8539. to learn about our parcel audit services. In addition, you can visit our Audintel website.

Small parcel Shipping Challenges-3

Shipping small parcels: Surmount the challenges with ease

by BlogTSM Services

Sending individual packages through shipping carriers is not as easy as it looks. Different shipping carriers offer various areas of expertise for shipping items. Choosing the best shipping carriers for small parcel shipping can get confusing. UPS, FedEx, and USPS are the major shipping carriers in the U.S.  However, a recent Reuters report says that UPS had an unfavourable quarter due to falling demand from e-commerce and labor issues. The impact of inflation on operating expenses is affecting shipping carriers. So, parcel carriers are competing with each other to offer discounts and lower transportation costs. Despite the economic slowdown, there is an opportunity for an increase in market growth.

According to some reports, the parcel shipping volumes will reach 256 billion in 2027. Shipping carriers believe e-commerce retailers and small businesses will have good holiday sales this quarter. Companies need to optimize parcel shipping operations in anticipation of rising holiday sales. They have to reduce their overall transportation expenses and adopt a multi-carrier strategy. In addition, the right innovative solutions can help businesses overcome the hurdles of shipping small packages.

This article gives further details on clever ways to ship parcels. In addition, shippers can learn about the fastest and cheapest ways to reduce shipping costs.

Our earlier blog gave a broad overview of overcoming the challenges of small parcel shipping.

Challenges of small parcel shipping

Companies face multiple challenges when shipping small parcels. One of the challenges during this holiday season is ensuring timely delivery of packages. Shipment tracking and insurance ensure that companies provide on-time delivery of packages. Shippers work with parcel carriers to safeguard against delayed or lost shipments.

Further, UPS and FedEx have announced their annual GRIs. It will increase the costs of sending small packages. Lightweight packages with high dimensions can also prove costly for parcel shippers. Surcharges for fuel, residential, delivery area, etc., levied by shipping carriers increase the shipping expenses.    

Customer expectations for faster and free delivery of packages is a new reality. So, many companies have to fine-tune their shipping operations to reduce costs. Small and medium-sized companies lack the expertise to navigate complex shipping operations. Third-party logistics providers or 3PL can provide support in areas such as:

  • Carrier management for parcel deliveries

During the peak holiday season, parcel carriers face capacity constraints. Thus, it is vital to have efficient carrier management for shipping small parcels. A multi-carrier strategy helps companies ship their packages according to their business needs. Regional parcel carriers can ship locally or to particular regions of the country.

 Moreover, it is necessary to know the various holiday shipping deadlines for the parcel carriers. Shippers can plan their shipping strategies based on the deadlines. Shipping carriers provide limited information to customers as they have their software platforms to track packages.

Third-party providers have in-depth knowledge of minimum rates, surcharges, volumes, etc. 3PL can give appropriate information about the carriers and track packages in real time. They have established relationships with parcel carriers and help secure discounts on list rates. In addition, 3PLs can manage a company’s carriers for parcel deliveries if there is a delay or unforeseeable issues.

  • Shipping route disruptions

High shipping volumes increase the workload of truck drivers. Moreover, in the peak holiday season, the shipping routes get longer, and trucks have more parcels. There are more chances of human errors in such situations. Last-mile delivery management with technological advancements is necessary to track parcels in real time. Optimizing shipping routes by identifying potential bottlenecks helps in the timely delivery of parcels. Moreover, a delivery hub can cut shipping costs for shippers.

AI-based innovative technology allows companies to have real-time information on package deliveries. Further, 3PLs  have local partners that can handle last-mile deliveries. A parcel Transportation Management System (TMS) allows driver route optimization so a maximum number of parcel deliveries can occur. It does not compromise a customer’s preference for the time and date of parcel delivery.

  • Minimizing the stress of split shipments

Split shipment involves an order divided into multiple shipments for separate dispatches. Split shipments expedite the delivery process but are costly for businesses. The involvement of different carriers and operational overheads can increase shipping expenses. To streamline their processes, companies have to manage their inventory levels to minimize split shipments.

Third-party providers can provide technologies like warehouse management systems (WMS) or order management systems. It helps companies route orders to cost-effective distribution centres and save money. Further, they leverage shipping data to forecast demand and minimize the likelihood of stockouts.

  • Analyze shipping data with third-party logistics

Parcel shipping data like point of origin, package status or exceptions, weight, and size of parcels is essential for strategic business planning. Shippers have to make sense of the historical shipping data to save costs. Systematic shipment monitoring, parcel carrier performance, and customer communications are possible when shippers have data at their fingertips.

Third-party logistics providers, or 3PLs, help companies garner profits with business intelligence tools and provide frequent shipping information to companies. By analyzing the historical shipping data, 3PLs help shippers manage their parcel spend. Further, parcel auditors can continuously monitor shipments, track parcels, and issue real-time customer notifications. The state-of-the-art software tools compare carrier performance, collect refunds wherever applicable, and reduce transportation costs.

Cheaper, faster, and more efficient ways to reduce shipping costs

Shippers can reduce shipping expenses depending on the size and weight of packages, distance, and choice of shipping carriers. Usually, USPS is the cheapest shipping carrier to ship packages. Small parcel shipping by USPS involves

  • First Class Mail for packages such as documents, letters, etc., and does not involve tracking
  • First Class Package Service is for parcels less than 16 ounces
  • Priority Mail is for goods that weigh more than one pound.

 Further, according to some reports, the U.S. Postal Services won’t be leving peak surcharges this holiday season.

UPS offers UPS Sure Post service for small packages weighing less than 10lbs. However, FedEx Ground shipping and UPS Ground shipping services are the cheapest ways to ship small parcels. UPS and FedEx have different rates based on weight and distance for faster delivery of small packages. Shippers can refer to the Service Guide of FedEx and UPS to decide which services suit their financial and business needs.

How partnering with Audintel helps overcome the hurdles of small parcel shipping

Audintel’s Transportation Management System (TMS) and integrated software solutions help shippers and 3PLs in timely parcel deliveries. We provide customizable dashboards for real-time tracking and monitoring of shipment status. Customers receive real-time notifications about their parcel status. Our experienced team gives insights into the areas for potential savings during carrier contract negotiations. Audintel’s expertise has helped many companies negotiate discounts on shipping rates, thus reducing shipping costs.

Concluding remarks

Shipping small parcels to customers is not as easy as it looks. Shippers need to overcome numerous challenges for customer satisfaction and repeat business. Third-party logistics providers and parcel management systems help in parcel shipping operations for companies. Audintel’s audit solutions and advanced software tools help shippers understand their shipping costs. We provide customized solutions to overcome the hurdles faced during small parcel shipping. Contact us at +1 (619) 354 8539. to find out how to have seamless parcel shipping. Further, you can visit our Audintel website.

Parcel Forum 2023-source1

Key takeaways from Parcel Forum – 2023

by BlogTSM Services

Whether you are a novice shipper or a big conglomerate, learning the intricacies of small parcel shipping is essential. Are you interested in gaining insights into various aspects of the small-package supply chain industry? The conferences at Parcel Forum held for the past twenty years provide this opportunity to all. Shippers, carrier representatives, and consultants attend this conference annually. This year, in the home of country music, Nashville, Parcel Forum (PF ’23) was held from September 11-13, 2023.

Parcel Forum ’23 had workshops and keynote addresses from shipping experts. The event was for small parcel professionals from various backgrounds, company sizes, and experiences. The conference agenda included shipping practices, warehousing, packaging, parcel delivery,  etc.

Key takeaways

My business partner, Vikram Malik, and I attended Parcel Forum ’23, an incredible experience. We had the opportunity to connect with our current and prospective clients. We had a chance to network with our clients and learn from our peers. Here are some of the key takeaways from PF’23:

1. The Workshops were on topics like

  • Contract negotiations

There were interactive sessions with the presenters on shipping strategies and tips for negotiating carrier contracts. Examples of negotiations and case studies were a part of this workshop held exclusively for shippers.

  • Automation and digital strategies for seamless operations

The session on inventory strategies and cost-effective automation was helpful for shippers, suppliers, and customers. In addition, it covered digital strategies for seamless operations from warehouse to destination.

  • Managing complex international shipping

Controlling trade compliance risks and volume-based international solutions were discussed. Also, giving correct documents and strategically placed inventory were the highlights of this session.

  • Leveraging data for supply chain efficiency

Using data to optimize order management, inventory management, and purchase were the highlights of this session. Further, the discussion was on data building blocks like Key Performance Indicators, dashboards, and data architecture.

2. Keynote speeches, presentations, and panel discussions were based broadly on the following areas

  • Best shipping practices

Artificial intelligence and predictive technology help implement and predict the estimated delivery time of small parcels. Customer-centric shopping with reduced shipping costs was part of another session at this conference. Robotic solutions for boosting order fulfillment can help shippers. Further, implementing customer-centric returns while decreasing shipping costs was discussed.

In addition, the best practice to unlock parcel savings is by reviewing shipping contracts and invoices. The economics around free shipping and how to design profitable programs were enlightening for the audience. AI and algorithms are helping reduce packaging costs for shippers. Moreover, technology will help shippers control the fulfillment process and maximize customer retention.

3. Carrier diversification

The factors to consider when partnering with a new shipping carrier by reviewing existing carrier activities are necessary. Further, choosing multiple parcel carriers helps in saving costs, carrier efficiency, and shipping volume discounts. The conference focused on a four-step process to maximize carrier benefits. Companies with limited resources can get the best from the national carriers, which was part of the learning objective.

There was a case study session on carrier diversification, its benefits, risks, and practical tips for securing competitive proposals from parcel carriers. Using technology to automate carrier decision-making was insightful for the audience. Shippers understood the impact of dynamic pricing and its effect on businesses.

The keynote address by USPS Postmaster General Louis DeJoy focused on the Postal Service Management team making significant changes to create an efficient and high-performing organization.

4. Warehousing solutions

The advantages of on-demand warehousing and the latest technologies for the digital transformation of the supply chain industry were on the agenda. Robotics and automation are increasing employee efficiency and customer satisfaction. The speakers shared successful examples of AI implementation in warehouse operations, which was very enlightening.

The best way to do slot assessment of warehouse operations is to increase operation efficiency. Changing customer expectations, advanced technology, and labor shortages transform warehouse management. We liked the panel discussion on choosing the right warehouse management system (WMS) for warehouses to support end-to-end supply chains.

5. Data Analytics

The use of predictive intelligence platforms to monitor and predict timely parcel delivery was a part of the FedEx keynote address. Meanwhile, the attendees learned new ways to reduce shipping costs using data modeling. How analytics and data are helping shippers create reliable and cost-effective supply chains was explored.

The increasing demand for predictive analytics helps shippers make better shipping decisions. Shippers can analyze and optimize their supply chain by leveraging track-and-trace technology. The real-time data is critical in reducing waste, optimizing shipping operations, and reverse logistics control.

6. Shipping forecasts

Online retailers have to adapt to changing online shopper expectations in the future. There was an in-depth analysis and prediction for the 2024 General Rate Increase (GRI) by FedEx and UPS. Valuable insights on 2024 accessorial fees and strategies to leverage data were a part of the discussion.

Further, the audience learned the trends reshaping the 3 PL market in 2024. Experts gave valuable inputs on how to negotiate 2024 contracts. Further, shippers can reduce parcel costs with strategies like zone skipping, inventory management, etc.

Parcel Forum’23 shed light on the labor shortages faced by companies and provided strategies to retain the workforce. Agile supply chains using AI can provide operational visibility to shippers. Industry experts gave their opinions on the growth of transport management systems (TMS) and their role in optimizing shipping strategies.

Conclusion

The conference helped us network with peers and learn more about the supply chain industry. Audintel helps shippers with its automation tools and interactive dashboards. Our clients use real-time shipping data and save shipping expenses. We also provide crucial negotiation strategies when shippers sign carrier contracts. Further, our team helps shippers in receiving refunds from shippers. Schedule a meeting with our team by contacting us at +1 (619) 354 8539. Alternatively, visit our Audintel website for further information.

Small Parcel Shipping Solutions

How quick small parcel shipping increases business profits?

by BlogTSM Services

According to experts, the shipping volume of parcel shipping has grown exponentially in the US. Small parcel volume growth will increase further due to the booming e-commerce market. In addition, technological advancements like drones and robots are making parcel delivery more efficient and contactless. But, advanced technology comes with higher costs. Small businesses face the challenge of high shipping rates during parcel deliveries. Shipping costs will add to the turnover if you are a small business or a startup.

Businesses require cheap and reliable shipping solutions to be competitive. This blog will focus on how small parcel shipping solutions will help companies grow.

Small parcel shipping solutions for businesses

Supply chain visibility is complex and challenging for shippers. Small parcel management software helps small businesses gain real-time visibility of their shipping operations. It provides data that are analyzed to make better business decisions. Shippers can optimize logistics, enhance efficiency, and manage and communicate with shipping carriers. Further, audit solutions identify shipping exceptions like overpayment, claim submissions, refund retrieval, and more. Small parcel shipping solutions should be fast, reliable, and affordable.

Fast small parcel shipping services

Businesses that offer same-day parcel deliveries to their customers have a competitive edge in the market. It can impact their sales and revenue and create expansion opportunities. Further, customers gain confidence that their orders will be sent to them quickly. It boosts customer loyalty and helps attract new customers. Nowadays, e-commerce companies profit from fast parcel shipping services.

So, what is the strategy to ensure fast small parcel shipping?

Companies have to streamline their order processing for faster shipping. It is possible by using an automated system for inventory management, order fulfillment, and shipping label generation. Automating warehouse operations can minimize human error and reduce processing time to faster parcel delivery.

Choosing the best parcel carrier or multiple shipping carriers is necessary. Businesses partner with reliable shipping carriers that provide on-time and expedited parcel delivery. For instance, USPS has convenient pick-up locations for quick delivery to businesses. Regional shipping carriers can deliver parcels quickly. Companies can also opt for software that optimizes delivery routes for faster shipping. In addition, drone technology may disrupt last-mile, quick parcel delivery.

Reliable business shipping solutions

Advanced shipping software helps in comparing shipping rates and tracking packages. Shippers can use multiple reliable parcel carriers for shipping. It allows them the flexibility to use alternative parcel carriers if an existing parcel carrier has service disruptions. A parcel delivery guarantee is necessary if customers expect on-time delivery. For example, UPS offers fast and reliable delivery services with guaranteed timelines.

Further, investing in customized shipping software helps businesses increase shipping efficiency. Audintel helps companies achieve incremental growth by offering customized parcel management solutions.

Affordable small parcel shipping

In addition to providing fast parcel shipping services, shippers have to reduce the burden of high shipping costs. Customers prefer businesses that provide free shipping options. Hence, shippers must reduce shipping costs and satisfy customers. Companies add shipping costs to the price of the items so that they can offer free shipping to customers. Some businesses incentivize larger purchases by offering free shipping above a threshold.

Small parcel shipping costs are affected by distance, speed, and weight. Using 3PLs can minimize the parcel delivery destination time. Further, shippers must reduce shipping costs by using intelligent packaging solutions. USPS offers the most competitive rates for shipping lightweight packages. Hence, shippers choose parcel carriers that offer shipping discounts on the service levels and types. FedEx Express services offer cheaper rates compared to other parcel carriers.

Surcharges of different shipping carriers also impact shipping costs. So, shippers must check fuel surcharges and other accessorials of shipping carriers to prevent paying more. Businesses having huge volumes of small parcel shipping will benefit by investing in business intelligence software. Audintel has an intuitive technology platform to monitor every aspect of a business’s supply chain..

Global business shipping solutions

Shipppers opt for reputable carriers for secure and hassle-free shipping of small parcels. Global businesses opt for parcel carriers that offer insurance to ensure the security of goods during transit. Customers should get their products safely, so investing in proper packing and shipping services is necessary for businesses.

In addition, partnering with fulfillment centers helps shippers minimize the delivery time. Shippers should have access to an international fulfillment network. It helps businesses grow globally with the help of scalable fulfillment services. Audintel’s audit solutions help shippers in achieving operational excellence.

The bottom line

Scaling business operations with the rise in shipping costs is like walking a tightrope. But, using shipping software that understands a business’ needs makes life easier. Small parcel shipping solutions include artificial intelligence and automation for businesses to achieve greater heights.

Audintel has the best-in-class Transportation Spend Management (TSM) software that caters to growing businesses. We help clients save time and money with our next-generation solutions. Know more about small parcel shipping solutions for your business by contacting us at +1 (619) 354 8539. You can alternatively visit our Audintel website.

Late FedEx Package Delivery

Late FedEx package delivery: request for a refund

by BlogTSM Services

Does your business ship packages through FedEx? Are you aware that your business is eligible for a refund if a package is delivered late by a minute? But, FedEx will not notify businesses if packages delay. Companies have to keep track of late packages. In addition, FedEx will not notify companies if they suspend or revoke the refund. FedEx refunds are primarily for Express and Ground services with a guaranteed delivery date and time.

FedEx Express

Express shipments involve shipping packages by a given deadline domestically or internationally. FedEx Express shipping services disruption was due to the pandemic, war, etc. Only select FedEx Express services are eligible for FedEx Money-Back Guarantee (MBG) as on January 3, 2023. They are

  • FedEx First Overnight®
  • FedEx Priority Overnight®
  • FedEx Standard Overnight®
  • FedEx First Overnight Extra Hours
  • FedEx Priority Overnight Extra Hours
  • FedEx Standard Overnight Extra Hours
  • FedEx International First®
  • FedEx International Priority®
  • FedEx International Priority® Express
  • FedEx International Priority® Freight

However, FedEx has suspended the money-back guarantee for services like FedEx Ground®, FedEx Freight®, FedEx SameDay® City, and FedEx Office® services till further notice.

Understanding FedEx Money-back Guarantee Policy

According to FedEx’s Money-back Guarantee (MBG) policy, if there is a service failure by FedEx, a business can recover all or a portion of the FedEx charges for a shipment. Late FedEx package delivery help shippers get about 100% refund of their shipping costs. In addition, FedEx offers Money-back Guarantee services to its customers when negotiating contracts. Shippers can receive a refund from FedEx for fifty or more service failures like lost packages, wrong address correction charges, and more.

Exceptions and Limitations to FedEx Money-Back Guarantee Policy

Like any policy, there are exceptions and limitations to the FedEx Money-Back Guarantee Policy. The limitations are

  • FedEx refunds will be credited to the payer only
  • One refund is for each package
  • In a multi-package shipment, a refund request for each package is possible when there is a service failure
  • It is calculated on the number and weight of packages within a shipment where there is service failure for FedEx International Priority Direct Distribution and FedEx International Priority Direct Distribution Freight
  • MBG applies only to transportation charges and not to taxes, duties, or other charges
  • It does not apply to invoice adjustment requests based on overcharges or shipments to P.O. Box addresses for delivery
  • It does not apply to shipments where the recipient has requested modified or customized delivery

Late Delivery Refund Exceptions

FedEx will not pay transportation charges in the form of a refund or credit for

  • Dangerous goods or dry ice shipments
  • Undeliverable or returned packages
  • Wrong address or ZIP code on the shipments
  • Unavailability or refusal of a person to accept delivery or sign the package
  • Customs or regulatory delays
  • Incorrect tracking numbers applied on FedEx shipments by customers
  • Shipments for delivery seven days before Christmas Day
  • Shipment scheduled on Wednesday before Thanksgiving
  • Incomplete recipient information

Further information about FedEx exceptions and limitations to its Money-Back Guarantee policy is available in the FedEx Service Guide, 2023.

How to request a FedEx refund?

FedEx refunds are possible only when there is a claim request. The claim request for a FedEx refund has been filed within fifteen calendar days from the invoice date. A refund request due to a service failure is possible by the following methods

  • Using internet application-FedEx Billing Online at fedex.com; or
  • Using the invoice adjustment feature at fedex.com; or
  • Through telephone invoice adjustment system at 1.800.463.3339 by saying “billing.”

Further, the request must have a FedEx account number,  if any; the FedEx tracking number; and the date of the shipment.

Shippers will find it difficult to audit each invoice to claim refunds from FedEx. Further, during carrier contract negotiations, FedEx may tempt shippers with a Money-Back Guarantee waiver with discounts. Shippers need professionals who help with contract negotiations and claiming FedEx refunds in time.

 Audintel helps shippers claim their refunds from FedEx in time. Our software and team of experts audit invoices and save money for our clients. In addition, Audintel helps clients understand the fine print of the carrier contracts so that they do not sign on Money-Back Guarantee Waiver and lose money.    

To Sum it up

Online businesses find it troublesome to explain the late delivery of packages to customers. In addition to customer dissatisfaction, shippers lose money if they don’t receive refunds from FedEx in time. Partnering with Audintel helps shippers receive refunds from FedEx in time. Audintel monitors packages for late deliveries and discusses with FedEx service failures for refunds. Contact us at +1 (619) 354 8539 to discover about FedEx money-back guarantee services or visit our Audintel website.