Four things you need to know before you enter into carrier rate negotiations are:1. Which shipments are being sent by ground, air, or ocean
2. The volume and weight of each shipment
3. The time each shipment spends in transit
4. The cost of each and every shipment in your supply chain
You can get all of this information through high-level shipping data analysis and benchmarking.
The best way to begin a benchmarking program is by making sure that every member of your team knows what you are benchmarking and why, and shares your overall vision. Next, you need to determine whether you have the ability or resources to compare your company's data to the right number and types of competitors in order to ensure that you will get the most out of your benchmarking efforts. In most cases, companies will find it is more cost-effective to go with a third party. Finally, before you select your third party partner, make sure they will be able to get the job done by using proven benchmarking methods. When benchmarking inititiaves fail, they fail most often due to an inability on the part of analysts to remain focused and unprejudiced when it comes to interpreting and acting on the final data. A proven benchmarking method should help keep you on track and enable you to come up with findings that can be reproduced.
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