Checklist for Transport Spend Management

If there’s one thing all manufacturers have in common, it’s the pressure they’re under to drive down the costs involved in producing and supplying goods. For many companies, transportation spending is a perennial target of budget-cutting exercises and a large, multi-faceted cost centre; some may spend three to six percent of their materials costs on transportation. So transportation spend and payment handling are contributors to the overall performance of a company.

Because transportation spending includes several dimensions, there are multiple strategies for reducing the overall transportation spend while increasing the efficiency of your supply chain. Leveraging IT is one of them. It enables shippers to trim costs and ensure that their transportation spending supports their overall business goals. In order to do this, it is important to connect all partners across modalities and regions, and to not only focus on the tender exercise but also to ensure that the agreements are fulfilled. Therefore, analysing and automating true freight spend is a priority. This requires real-time information and an understanding of why things happen.

To help shippers gain better insight into how to achieve and optimize transport spend management success, Transwide and Supply Chain Media have created this checklist. Is your company managing its transportation spend effectively? Find out now.