4 Big Reasons Why Your Broker s TMS Matters»» A STRIVE TRANSPORTATION BRIEF

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1 4 Big Reasons Why Your Broker s TMS Matters A STRIVE TRANSPORTATION BRIEF

2 LOOK UNDER THE HOOD Some shippers take an if it ain t broke, don t fix it approach when it comes to finding out what software is under the hood of their broker s business. This is a mistake. Knowing how your broker tenders loads is an important part of understanding your own supply chain. How brokers find trucks typically falls into one of three categories: 1. Manually. Finding trucks manually is time-consuming. Very small or inexperienced brokers may still be using a pen and paper method of jotting down carriers to call and then picking up the phone when they need to find a truck. Even if they use Excel to keep track of their loads, that s still a lot of hand calculations where human error can creep in. 2. Off-the-shelf transportation management system. Using a third-party TMS is a big step up from just using a pen and a notebook. A TMS helps brokers track freight, get insight into process enforcement, and keep electronic records of all transactions in their system. It also allows a broker to more efficiently manage a shipper s freight from pick up to delivery. A TMS could be installed on each user s computer or it might be cloud-based and accessed through a web browser. 3. Proprietary software and complex matching algorithms. Some more sophisticated brokers are taking an innovative approach to managing shipments. They develop their own proprietary TMS so that they can add additional features to provide more value to their customers and carriers. For example, Strive Logistics developed LoadRunner when they found their off-the-shelf TMS was not addressing the needs of their clients. Cutting-edge features like advanced carrier matching capabilities, mobile tracking, customized reporting, and real-time pricing models provides a competitive advantage. FOUR REASONS WHY YOUR BROKER S TMS MATTERS When looking to partner with a broker, finding one that uses any sort of TMS is a must. Brokers that rely on the pen and paper method to manually find trucks may not be able to find a truck when you need it leaving you high and dry when capacity gets tight. While using a TMS should be a non-negotiable, there are four big reasons you should consider a broker that uses their own proprietary system over a broker that uses an off-the-shelf TMS. info@strivelogistics.com strivelogistics.com 1

3 1. Flexibility. Using a third-party TMS doesn t allow a broker to adjust the software to meet their needs. A broker that invests in developing their own proprietary software will be able to add features and customize the software. The result is a TMS designed by the people who use it every day. In addition, an in-house development team can make changes to the software on the fly to meet your needs as a shipper. You are able to access the information you need, without a workaround. 2. Hidden Capacity. Many third-party transportation management systems all access the same load boards and the DAT. Brokers that use this software are all competing for the same capacity and increased demand drives prices higher. Brokers that use their own proprietary software can tap into hidden capacity that may not be available onload boards, including accessing private fleets that are looking for backhauls and thousands of carriers small and large that don t use load boards to find loads. Capturing and storing all of the information necessary to match freight with dedicated lanes is a daunting task, but for a broker with a customizable TMS, it s easy. These brokers are able to profile carriers based off the lanes they run, equipment type, an internal carrier scorecard, and more. Partnering with brokers that develop their own TMS can give you access to more capacity and in turn lower your freight spend. 3. Immediate Results. At some point you may have requested a quote and heard, Yeah, let me run some numbers and call you back. Maybe you received your quote in 10 minutes, or maybe it was an hour. With a broker using a third-party TMS, a wait is to be expected they have to go through their list of carriers and call each one or look at the DAT and check similar loads for pricing. Partnering with a sophisticated broker is different. They can use their proprietary software to run your freight against carriers in real time instantly returning matches and quotes. Getting a quote over the phone or in an immediate response to your request saves you time and lets you get back to focusing on your core business. info@strivelogistics.com strivelogistics.com 2

4 4. Better Insight. A sophisticated TMS can provide you with descriptive analytics, predictive analytics and prescriptive analytics. Descriptive analytics describe what is happening in your supply chain. For example, at Strive Logistics, LoadRunner gives shippers access to a dashboard that provides them with visibility into their shipping activity and history. Seeing detail in each load as well as a bird s eye view of your supply chain as a whole is one way you can use descriptive analytics to your advantage. Predictive analytics uses descriptive analytics to anticipate what will happen next finding patterns in the data. The predictive analytics that a proprietary TMS provides not only comes from looking at an individual shipper s data, but also from analyzing the broker s knowledge and data across the industry. Armed with that information, brokers can anticipate changes in the market and make the best decisions in real-time. For example, LoadRunner has a price matching tool that responds to current trends in the market and learns to become more accurate as loads are awarded based on the pricing it provides. Using predictive analytics while pricing helps insulate shippers from paying too much or not receiving the services they need. Prescriptive analytics uses the information provided by predictive analytics to propose a solution for larger issues and patterns. This data is used to provide long-term recommendations based on shipment activity from a particular client. The right logistics partner can help you optimize your supply chain based on your specific company patterns and history with specific recommendations to help you lower your freight spend and become more efficient. A GOOD TMS IS A COMPETITIVE ADVANTAGE No matter what broker you choose to partner with, one thing is vital find out what TMS they have in place and how they will be finding capacity for your freight. The advantages of choosing a broker with an in-house TMS are clear. The flexibility, customization, access to capacity, and quick quotes can give you a competitive advantage. info@strivelogistics.com strivelogistics.com 3

5 ABOUT STRIVE ABOUT Strive Logistics is the best third-party logistics company because we combine technology, innovation, and industry expertise with amazing customer service to deliver world-class transportation services. Since 1995, clients across North America have relied on our efficient, effective, and easy-to-use solutions to deliver their business. CONTACT US HEADQUARTERS: CHICAGO, IL 3008 N Lincoln Ave Chicago, IL Phone AUSTIN, TX 111 W 6th St, Ste 100 Austin, TX Phone Powered By: EXPERTISE EVERY STEP OF THE WAY We dedicate a team of logistics professionals to make sure your freight is managed from every angle. You ll work with members of our Customer Sales and Customer Operations teams each with the experience and knowledge to make shipping as easy as possible. [Strive has] a customer service and operations team second to none with constant communication and accessibility to accommodate our needs. Transportation Operations Manager, Food & Beverage Industry TECHNOLOGY THAT DELIVERS SUCCESS LoadRunner provides you with access to one of the most powerful transportation management systems in the industry. LoadRunner reduces operational costs while increasing market opportunity through business analytics and real-time freight matching. With LoadRunner, you don t have to wait days to hear from us we match your freight with available capacity in seconds. TRUSTED CARRIERS Our exclusive partnerships and experience with premium suppliers allows us to be proactive in choosing the carriers we work with. We carefully screen our carriers to ensure that you receive a consistent, reliable, high level of service. We maintain a Carrier Scorecard in LoadRunner and utilize our matching system to ensure we put the most compatible carriers on your freight so you never have to worry about carrier management we ve got you covered on every load. PRIVATE FLEET Reduced capacity, seasonality, and driver constraints can disturb your supply chain. We offer exclusive partnerships with private and dedicated fleet providers that remove service volatility and help deliver a consistent and reliable experience year round no matter what. INDUSTRIES SERVED From produce to paper products, we have experience shipping for every industry: Building Materials Commodities Consumer Packaged Goods Food & Beverage Produce Glass, Plastic & Packaging Materials Hazardous Materials Beer, Wine & Spirits Paper & Corrugate Piping Steel Automotive Many more info@strivelogistics.com strivelogistics.com 4