Why Freight Claims Analysis Reveals Insight into Profitability
As reported by Inbound Logistics, market research suggests that up to 30 percent of all freight invoices are incorrect. And, freight settlement processes are convoluted, expensive, and prone to errors.
Automating the process using intelligence will help you identify opportunities for cost reduction. It will also expedite the freight audit process, pushing your margins to unprecedented new heights.
Freight Audits Also Show Indicators of Strong Versus Weak Carrier Partnerships
Hiring a freight audit service that remains in daily contact with your LSPs and vendors to identify and correct these supply chain disruptions has become a commonly practiced solution and prevents many unnecessary delays and costs in processing shipments.
How Does an Audit Help?
Recognize Stressors Will Come With the Major Extremes of Too Much Volume or Not Enough Volume
Conversely, when you have a large bulk of goods to ship there are higher chances of loss, damage, or overcharge. Automating your freight audits and claims management will help you deal with fluctuating business cycles as efficiently as possible.
Think About the Outside Influences, Like Driver HOS and Regulations
This is why most companies today take advantage of supply chain automation to overcome operational challenges that lead to freight liabilities.