Data, analytics make the difference in managing carrier relationships

Managing your transportation network is increasingly complex, especially in today’s fast-paced, high-cost business environment. A panel of experts set out to give shippers tips on how to leverage data to tackle the problem in an “Ask the Expert” session during the Council of Supply Chain Management Professionals’ (CSCMP) Edge meeting this week in Orlando.

Leaders from freight audit and transportation spend management solutions provider Trax Technologies and carrier payments platform TriumphPay outlined how visibility and access to data can help companies: mitigate payment fraud within their transportation networks; increase carrier satisfaction by leveraging payment “optionality”; and reduce carbon emissions by creating transparency to the “true carbon impact” of a company’s transportation decisions.

Panelists Steven Beda, executive vice president, customer solutions/advisory for Trax, and Garrett Wolfe, chief strategy officer at TriumphPay, joined moderator Josh Bouk, executive vice president and chief partnership officer at TriumphPay, for an in-depth discussion of all three points. They noted that measuring costs, service, and sustainability across your networks is especially vital to maintaining carrier relationships in shifting markets.