Is your routing guide working? These automated carrier insights will tell you
We are excited to announce Carrier Insights, a new set of features in Convoy Connect TMS that help transportation managers determine the right strategy for awarding freight to carriers in their network. With Carrier Insights, shippers can view and award freight based on specific metrics such as response rate and acceptance rate and compare performance and freight spend across their entire routing guide.
A consistent theme we’ve seen from shippers using email and spreadsheets is that they lack the data to determine whether they are working with the best, most reliable carriers. Once transportation managers establish a routing guide strategy, they have to rely on anecdotal evidence or carrier-provided data to answer simple questions like, “Am I awarding my strongest carriers the majority of my freight?” This information comes at inconsistent times, leading shippers to re-evaluate their strategy only when something goes seriously wrong. Without accurate up-front data, shippers risk continuing to partner with carriers who accept very few shipments, have slow response times or ignore them altogether. This leads to increased operational and financial costs that could have been avoided.
The Carrier Insights update gives transportation managers the information they need to make data-driven decisions about their carrier strategy. Shippers can quickly identify which carriers are servicing a majority of their freight through the Carrier List view which shows active lanes and freight spend for each carrier. They can then dive into the Carrier Scorecard to compare response and acceptance metrics and understand whether their top carriers are meeting expected SLAs. All metrics are updated live, allowing shippers to regularly audit carrier performance and understand how it has changed over time. With Carrier Insights, shippers now have the data to identify when they need to re-allocate freight awards to save them time and money down the line.
Are you a shipper looking to better understand the performance of carriers in your routing guide? Sign up for Convoy Connect, the free, easy-to-use TMS and start saving time and money by making data-driven decisions about your carrier strategy.