The global freight management market is characterized by the growing number of MNCs and high investment opportunities. Freight management can be considered to be a subset of supply chain management, encompassing solutions related to freight handling, scheduling, tracking, and billing-related services. It involves the use of seamless and scalable solutions to enhance the overall efficiency of the logistics management process. Though the freight management space is witnessing growth in innovations and technology, the market is influenced by certain factors that will influence its growth prospects in the coming years.
- Imports and exports: Trade plays a pivotal role in the growth of the economy. Globalization and the rising demand for quality products among the consumers are expected to influence the growth of the freight management industry as most of the trade relies on an efficient supply chain to bridge the demand-supply concern.
- E-commerce: With advances in technology, consumers have become more mobile and are looking for solutions to purchase products and services online. With the penetration of smart devices, the shopping patterns of the consumers have altered, and they are relying on e-commerce platforms to choose their product offerings. This, in turn, can further propel the growth of fright management sector.
To overcome these factors and ensure consistency and reliability in the supply chain process, leading companies are facing the need for a supplier selection solution. The supplier selection process mainly involves the evaluation of different supplier attributes and profiling the most suited suppliers to meet their particular needs. For most organizations, the benefits are gained through achieving high-quality products and enhancing the customer satisfaction.
The Business Challenge
A leading freight management client with more than 100 offices spread across the globe wanted to identify and profile the right suppliers among prominent suppliers. The client wanted to consider the value of money, quality, reliability, and service while profiling the suppliers based on business priorities. Moreover, the client wanted to implement a strategic approach while choosing suppliers and adequately allocate financial resources to offer better customer satisfaction. The primary concern for the client was to discover new suppliers and curtail the issue pertaining to the supply chain.
Want more information about how our supplier selection solution helped the freight management client?
To identify and choose the potential suppliers and to streamline the supply chain process, Infiniti’s supplier selection experts carried out extensive research such as interviews and discussions with leading stakeholders in the freight management space. In addition, to gain a cost advantage over existing suppliers, the experts also compiled information from a wide array of secondary sources such as company presentations, industry forums, and newsletters.
Benefits of the Supplier Selection Solution
The supplier selection solution offered by Infiniti helped the client assess the quality suppliers and meet the buyer’s myriad requirements. The engagement helped the freight management firm overcome the potential bottlenecks in terms of product delays and gain better transparency into the supply chain process. The supplier selection solution also offered real-time visibility into the supply chain, including the current suppliers, to further establish a better relationship with the customers. The solution offered also helped identify the performance gaps and discover how the supplier understands their own operations.
Additional Benefits Offered by Infiniti Include:
- Efficiently notified the manufacturer in terms of the limited production capability and issues with the quality
- Communicated effectively during production delays and developed supplier quality management programs