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Free Transportation Savings Assessment Guide
Most logistics operations have hidden savings. The challenge is finding them without expensive consultants or months of internal analysis.
Loadsmart’s free transportation savings assessment pairs logistics experts with FreightIntel AI to analyze your freight data. The result is a report that gives logistics leaders clear, data-backed visibility into where savings exist.
This post provides an overview of what the assessment covers, from lane analysis and spot benchmarking to load consolidation.
What Is a Transportation Savings Assessment?
A transportation savings assessment analyzes your freight operations to identify inefficiencies and benchmark your performance against market rates and industry standards.
Loadsmart’s transportation savings assessment covers three key questions:
- Rating: How does your freight spend compare to current market rates?
- Optimization: Where can you maximize space, modes, and routes to lower costs?
- Freight Audit and Pay: How can the company save on carrier payments and accessorials?
By analyzing information like lanes, tender rejection rates, and spot market overspend, one assessment identified $1.13 million in potential savings.
The Value of a Comprehensive Freight Analysis
Our logistics experts analyze your data alongside FreightIntel AI, using nearly 200 KPIs and multiple benchmarks to surface savings opportunities across your operations.
What Your Assessment Will Reveal
Rate Gaps
See how your tender rejection rates compare to the market average. We’ll use carrier scorecards to assess lane performance and identify ways to improve tender acceptance rates.
Consolidation Potential
Identify where you’re shipping LTL and PTL shipments that could have been combined into FTLs. This will help you recognize where consolidation could save you money in the long run.
Intermodal Candidates
Identify specific lanes where you could consider converting to intermodal transportation. In addition to highlighting potential savings, switching to rail/intermodal could reduce the environmental impact of your operations.
Spot Overspend
Learn how your rates compare to benchmark rates to identify where you’re overpaying on the spot market. We include specific suggested actions, such as negotiating more frequently or refreshing your network with carriers with more competitive rates.
Data Requirements and Timeline
Minimum 3 Months Data
We’ll need at least three previous months of data. Include transactions across all departments, systems, and freight terms. Or at minimum, summarize what’s not included so we can account for it.
Formats Accepted
We provide a standardized template for your data, which speeds up analysis.
2-to-3-Week Process
Upon acceptance of your data, our team of seasoned logistics experts (assisted by FreightIntel AI) will analyze your data to extract actionable insights. Every cost-saving opportunity that we can identify will be highlighted, including suggested actions.
What Happens After Your Assessment
Review Findings
Your transportation savings assessment will be customized and completed with easily-understood graphs, data points, and highlights for your review.
Discuss Options
We recommend reviewing the findings with your team and determining which opportunities align with your priorities.
Decide Next Steps
Once you’ve formulated a plan of attack, you can decide how you’ll go about acting on our insights. Having data to inform your decisions means you can move forward with confidence and clarity.
Frequently Asked Questions About Transportation Assessments
How Long Does a Transportation Savings Assessment Take?
A transportation savings assessment takes two to three weeks to be completed.
Is My Freight Data Secure During the Assessment?
Yes, your freight data is secure during the assessment. Only our logistics experts will have access to your company data.
What if the Assessment Shows I Don't Need Managed Transportation?
If the assessment shows you don't need managed transportation, we'll share that information with you rather than pushing you to use third-party providers. Our goal is only to provide transparency to businesses that aren’t sure if there are gaps present in their operations.
Request Your Free Freight Savings Assessment Now
Sometimes it takes an outside party looking into your operations to identify inefficiencies. A free freight savings assessment could be your path to savings.