What is Freight Management and its benefits?
A Freight Management system helps shippers organize supply chain operations, simplifying the shipping process and increasing logistical efficiency.
The latest software technology aids shippers to benefit on time and monetary basis.
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What is Freight Software?
The freight software refers to any software that helps a business find the best way to move freight. These solutions can include 3PL software, cargo software, and brokerage and forwarder software.
Freight management is also known as a transportation management system, it allows the following:
- Book orders instantly
- Find the best carrier rates
- Search all the transportation modes
- Manage carriers’ negotiated rates
- Request and receive spot quotes
- Track shipments 24*7
Ø Quoting features send your freight details to multiple carriers to help you choose which will suit your shipment best.
Ø Booking helps reserve space on boats and prepare documentation for the shipment.
Ø Tracking shows you and your customer where freight is and when it may arrive.
Ø Inventory management is offered by more advanced and comprehensive software aimed at freight brokers.
Ø Import and Export forms for international software save on time filling out repetitive and tedious forms with minimal errors.
What are the benefits of freight management software?
A freight management system like Kuebix TMS, enables shippers to rate, book and track shipments.
Additionally, a system can empower supply chains and solve common challenges by:
- Incorporating all shipping options (roads, rails, ocean, air) and modes on one platform.
- Consolidating and optimizing shipments for cost-effectiveness.
- Ensuring accuracy and time savings with efficient system to system communications
- Lowering administrative costs and reducing errors.
- Automatically documenting and auditing invoices, handling claims and exceptions.
- Informing the shipper and their customers of shipping statuses.
- Offering a large carrier pool to help shippers find the right carrier at the right price and service level.
- Instituting prepaid and itemized accessorial charges in customer billing to avoid losing money.
- Creating easy to read reports and dashboards that keep track of the cost and service level of shipment.
- Enabling effective ways to schedule dock operations and manage yards.
- Managing the RFP process with carriers to efficiently set up the best rates and service level to tender shipments more effectively.
The most beneficial freight management systems are flexible and built on platforms that can scale with a business whether it is a simple or complex supply chain.
A system that offers full analytical capabilities can highlight well managed supply chain segments and expose segments to improve, creating the opportunity for optimization.
The freight management system market is expected to grow from USD 10.76 Billion in 2018 to USD 17.45 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.
5 Must-Have programs/systems in a Transportation Management System
- Order management module –Integration of order data originating from multiple systems such as inventory databases, fulfilment systems, and vendor databases. It provides users with a view of all stages in the lifecycle of an order, from order placement to okay fulfilment.
- Freight Management Module –Freight charge module should be able to predict cost accurately across different orders and order types.
- Transportation Module – this module contributes to making the supply chain efficient. It does route optimization, gives hassle free updates of freight documents by digitizing them and using a digital interface and mobile applications for information updates.
- Manufacturing Module – It will enhance the efficiency of the supply chain. Manufacturing module assists in inventory control and management, operations management, asset management.
- Analytics and reporting module –It collects, analysis, and summarizes transportation and supply chain metrics across the whole organization.
As a pioneer in Software Development programming, Taff Inc helps organizations accomplish their goals and take their business to the next level with help of our revolutionizing technologies. Our association consists of highly motivated and dedicated business people who show great interest in achieving new heights and help you become better. We develop Freight Management systems and will help you choose the best system for your business.
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