Figuring out how to manage less-than-truckload (LTL) shipping can be complicated. Will a shipper avoid collaborative relationships, and if so, how would the shipper gain any savings from using LTL shipments when there is not enough product to justify a full truckload (FT)? These questions reflect why some LTL providers are discussing LTL freight shipping accounting options more openly.
While the State of Logistics 2014 report is slowly giving way to what will be the State of Logistics 2015 report, we couldn’t help start thinking about what will happen. However, we know postulating ideas for the future is impractical if we cannot learn from our past experiences. The economy had been hit hard, and 2014 saw a great climb from the recession.
There are a lot of different components to consider when it comes to maximizing your results in transportation management as it pertains to all of the functions of involved in the pre and post activities of shipping freight. Whether you ship full truckloads of product or mainly send out LTL shipments, it’s important that you pay careful attention to your freight invoices.
Editor’s Note: This is a guest blog from Lance Surety Bond, a provider of freight broker bonds, among many others. Cerasis holds a $250,000 freight broker bond, and all 3PLs who handle transportation management must have a freight broker bond in order to do business.
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As you grow, so should freight costs. However, it’s important to review your pattern of freight spend in relation to sales so that you may set a benchmark. Above average increases in freight costs could indicate your expenses are cutting into your bottom line.
Auditing is one of the least favorite tasks of people in the logistics and transportation industry, even among those who specialize in performing it! However, it is something that should never be overlooked if your enterprise wishes to save as much money as possible and prevent undue losses.
We are now onto the next section of our current series involving all things transportation and freight accounting. This time we are covering a not so commonly used program by a lot of shippers: consolidated freight invoices program.
Today we continue our series on freight and transportation accounting by now talking about what is a freight bill and what to expect in the way of line item charges on a freight bill.
We continue our series on all things freight and transportation accounting by speaking about a common practice all shippers must partake in: freight payment for all your freight bills.
Today we continue our series on all things freight accounting by addressing when you should be accounting for freight costs.