TMS Know How & News

25 Mar, 2024
Welcome back to TMX Trendwatch!
19 Mar, 2024
New tool measures carbon footprint at the point of shipment execution promoting more sustainable supply chain networks
11 Mar, 2024
Welcome to our second edition of TMX Trendwatch: a bi-weekly newsletter that aggregates the latest transportation industry news and delivers it right to your fingertips. This week, we’re highlighting trends in technology investments for shippers, sharing a welcome change in billing rules and offering tips on finding the right data for better supply chain visibility. Click on any of the stories below for more information! Unpacking the FMC’s Final Rule on Detention and Demurrage Billing Practices : The Federal Maritime Commission’s rule marks a significant shift in the container shipping landscape, streamlining billing practices and addressing a chronic grievance in the industry. Shippers Should Lock In Trucking Rates Soon : “Virtually no one believes the current demand and capacity cycle is a new normal.” Carrier executives say trucking rates may have already hit bottom and are optimistic about a rate recovery, which could spell higher costs for shippers soon. Top-Performing Supply Chains Lead the Charge in AI Investments : Higher-performing supply chain organizations use AI and ML at 2x the rate of low-performing competitors. Where are they investing? Demand forecasting, order management/fulfillment, and supply planning, for starters. 5G and Supply Chain Connectivity: Enhancing Logistics in the Digital Age : 5G has reached the point where supply chain managers are seeing a real return on investment, particularly with specific applications like enhanced asset tracking, AR, and inbound/outbound confirmation. Supply Chain Visibility: Why It Matters and the Trends to Look For : To deliver on the potential of AI, companies need data. Supply chain visibility is how they get it—but they need to know what data they’re looking for. Nearshoring Trend Drives Border Growth : Companies looking to mitigate their risks amid geopolitical uncertainties are eschewing overseas shipping for a nearby neighbor: Mexico. Some shippers are boosting cross-border investment by 20+% and seeing nearly 30% growth in cross-border activity.
05 Mar, 2024
Princeton TMX hires logistics industry veteran to lead sales strategy, help shippers optimize freight rates and lanes
26 Feb, 2024
TMX Trendwatch: Week of February 26, 2024
20 Feb, 2024
New partnership with Loop gives shippers access to a modern audit and payment platform, streamlining invoicing and improving cost visibility.
07 Feb, 2024
Princeton TMX Partners with Emerge to Give Shippers Access to Spot Market Capacity and Real-Time Rates Leading TMS provider integrates freight procurement platform, giving shippers access to a network of over 45,000 carriers and new tools for procurement success February 7, 2024 (Fort Wayne, IN) – Princeton TMX , a leading multi-modal transportation management system (TMS) provider, today announced a strategic partnership with Emerge , a prominent provider of innovative freight procurement solutions. The partnership streamlines the procurement process by giving shippers direct access to Emerge’s large carrier network, spot market pricing and load tendering capabilities from within Princeton TMX system. Princeton TMX’s multi-modal TMS automates complex transactions by simplifying the entire transportation planning and execution process, providing shippers with better rates, better lanes and lower risk. Seamlessly integrating Emerge’s freight procurement platform into the Princeton TMX system connects users with a marketplace of 45,000 carriers and enables them to compare rates and then tender loads using the “Book it Now” functionality. This not only streamlines operations by eliminating the need to manually find and set up new carriers, but enables shippers to make smarter, data-driven decisions regarding carrier selection. “In today’s dynamic business environment, shippers need access to spot capacity to transport loads not covered by their existing carrier base and scale up when freight volumes increase or new lanes are introduced—while ensuring they’re getting the best possible rates and service levels,” said Oliver Bloom, senior director, strategic partnerships & sales, Princeton TMX. “Partnering with Emerge makes spot procurement easy for our customers, giving them direct access to thousands of carriers and allowing them to request quotes and tender loads within their Princeton TMX dashboard.” Built by freight professionals for freight professionals, Emerge's platform optimizes and automates the freight procurement process, empowering shippers and carriers to make more strategic decisions to reduce costs, enhance productivity and manage all sourcing spend in one easy-to-use platform. “Emerge provides direct access to capacity from vetted marketplace carriers. This integration allows shippers to drive efficiencies within their procurement process and ultimately reduce cost through additional capacity and data analytics,” said Maggie Petrovic, SVP of Strategic Partnerships, Emerge. “Integrating our platform with Princeton TMX empowers and expands our dual commitment to provide innovative solutions that drive process efficiency and deliver meaningful cost and performance value to our customers.” About Princeton TMX Princeton TMX is a leading multi-modal transportation management system (TMS) provider. The company’s cloud-based system automates and optimizes transportation planning and execution, streamlining the supply chain, reducing freight costs, and improving overall performance. Backed by a team of logistics experts, Princeton TMX helps automate complex transactions by simplifying the entire transportation planning and execution process—providing better rates, better lanes and lower risk. About Emerge Emerge is a leading technology provider with its revolutionary Freight Procurement Platform. Emerge offers solutions that enhance the procurement process for spot and contract freight by providing current benchmarking data, real-time connectivity, and data-driven insights enabling shippers and carriers to make more empowered strategic decisions. Backed by its marketplace of 45k+ quality carriers and the Premier Carrier Program, shippers can expand their network with confidence. For more information, visit www.emergemarket.com . Contact: Stephen Dye stephen@outlookmarketingsrv.com
Mark McEntire CEO Princeton TMX
19 Sep, 2023
We're pleased to announce the appointment of Mark McEntire as our new CEO. McEntire succeeds founder and CEO Tim Minnich, who will continue to support us and Mark as a board member and advise on the company's growth strategy.
09 Aug, 2023
A summary of Gartner's review of the current state of the Transportation Management Software space.
Spot Rate Load Board Shipper
28 Jul, 2023
Shippers need every advantage they can get to save money and improve their bottom line. One of the most important tools for shippers is a transportation management system (TMS) that provides visibility into spot rate load boards. Spot rate load boards give shippers real-time access to market rates for freight transportation. This allows shippers to compare rates from different carriers and find the best possible price for their shipments. In addition, spot rate load boards can help shippers to identify new lanes and carriers that can help them to improve the efficiency of their transportation network. There are a number of reasons why spot rate load board visibility is essential to have in a TMS to shippers. These include: Real-time market rates : Spot rate load boards provide shippers with real-time access to market rates for freight transportation. This allows shippers to compare rates from different carriers and find the best possible price for their shipments. Wider range of carrier options : Spot rate load boards connect shippers with a wider range of carriers than traditional contract carriers. This gives shippers more flexibility and options when it comes to finding the best carrier for their needs. Ability to book emergency shipments : If a shipper needs to move freight quickly, a spot rate load board can be a lifesaver. Spot rates are often higher than contract rates, but they can be the only way to get freight moved in a hurry. Improved transportation visibility : By tracking spot rates, shippers can get a better understanding of the current market conditions and how they might impact their transportation costs. This information can be used to make better pricing decisions and optimize the transportation network. Better pricing decisions : By comparing spot rates to contract rates, shippers can make more informed decisions about how to price their freight. This can help them to maximize their profits and stay competitive in the market. Optimized transportation network : By using spot rate load boards, shippers can identify new lanes and carriers that can help them to improve the efficiency of their transportation network. This can lead to lower transportation costs and improved delivery times. Spot rate load board visibility is essential to have in a TMS to shippers. It provides shippers with real-time access to market rates, a wider range of carrier options, and the ability to book emergency shipments. In addition, spot rate load board visibility can help shippers to improve their transportation visibility, make better pricing decisions, and optimize their transportation network. Here are some additional tips for shippers who want to get the most out of spot rate load boards: Use a TMS that integrates with spot rate load boards : This will allow you to easily compare rates from different carriers and book shipments quickly and easily. Track spot rates regularly : This will help you to stay up-to-date on the current market conditions and make sure that you are getting the best possible price for your freight. Be prepared to negotiate : Spot rates are often negotiable, so don't be afraid to haggle with carriers to get the best possible price. Use spot rate load boards as a supplement to your contract carriers : Spot rate load boards can be a great way to supplement your existing contract carriers. This can help you to fill in gaps in your transportation network and get freight moved when you need it most. By following these tips, you can use spot rate load boards to your advantage and save money on your shipping costs. Want to see how the spot rate load board functionality can impact your bottom line? Let's schedule a demo today.
24 Jul, 2023
In today's competitive business environment, it is more important than ever for companies to have a strong transportation management system (TMS). A TMS can help companies optimize their freight transportation, improve their bottom line, and provide better service to their customers. There are many different TMS solutions available on the market, but not all of them are created equal. Some TMS solutions are designed for specific types of freight, such as full truckload (FTL) or less-than-truckload (LTL). Other TMS solutions are designed for specific modes of transportation, such as rail freight. If you are a company that ships freight by FTL, LTL, and rail, then you need a TMS solution that can handle all three types of freight. Using a single TMS solution for all of your freight transportation needs can provide you with a number of benefits, including: Real-time visibility: A single TMS solution can give you real-time visibility into the status of all of your freight shipments. This means that you can track your shipments from the moment they are picked up to the moment they are delivered. This level of visibility can help you to improve your customer service and to avoid delays. Flexibility and scale: A single TMS solution can be scaled to meet the needs of your business, regardless of how much freight you ship or how many different modes of transportation you use. This flexibility can help you to adapt to changes in your business and to take advantage of new opportunities. Financial impact: Using a single TMS solution can have a positive impact on your bottom line. A TMS can help you to reduce your freight costs by optimizing your shipments and by negotiating better rates with carriers. A TMS can also help you to improve your cash flow by automating your invoicing and payments processes. Ease of use for finance departments: A single TMS solution can make it easier for your finance department to manage your freight transportation costs. A TMS can provide your finance department with real-time data on your freight costs, which can help them to track your spending and to identify areas where you can save money. If you are looking for a TMS solution that can help you to improve your freight transportation, then you should consider using a single TMS solution for FTL, LTL, and rail freight. A single TMS solution can provide you with a number of benefits, including real-time visibility, flexibility and scale, financial impact, and ease of use for finance departments. Here are some additional benefits of using a single TMS solution for FTL, LTL, and rail freight: Improved compliance: A single TMS solution can help you to comply with a variety of regulations, such as those governing hazardous materials transportation. Reduced risk: A single TMS solution can help you to reduce the risk of freight loss or damage. Improved customer service: A single TMS solution can help you to improve your customer service by providing you with the ability to track shipments and to communicate with customers in real time. If you are considering using a TMS solution, then you should be sure to evaluate all of your options. There are many different TMS solutions available on the market, and not all of them are created equal. However, a single TMS solution for FTL, LTL, and rail freight can provide you with a number of benefits that can help you to improve your freight transportation and to achieve your business goals. Here are some tips for choosing a TMS solution: Consider your specific needs: Before you start shopping for a TMS solution, take some time to think about your specific needs. What types of freight do you ship? How much freight do you ship? What are your budget constraints? Do your research: Once you know your needs, you can start researching different TMS solutions. Read reviews, compare features, and ask for recommendations from other businesses. Get a demo: Once you have narrowed down your options, request a demo from the TMS vendor. This will give you a chance to see the solution in action and to ask questions. Make a decision: After you have evaluated all of your options, you can make a decision about which TMS solution is right for you.  Choosing a TMS solution can be a daunting task, but it is important to do your research and to choose a solution that meets your specific needs. A single TMS solution for FTL, LTL, and rail freight can provide you with a number of benefits that can help you to improve your freight transportation and to achieve your business goals.
TMS Workers
10 Jul, 2023
Real-time data is essential for making informed decisions in today's fast-paced business environment. This is especially true for truck and rail transportation companies, which need to track shipments in real time to ensure they arrive on time and in good condition. A transportation management system (TMS) is a software application that helps companies manage their transportation operations. A TMS can track shipments, manage carriers, and optimize routes. However, if your TMS does not provide real-time data, you are missing out on a major opportunity to improve your efficiency and customer service. Why SaaS TMS Software is Ideal for Truck and Rail Companies Real-time data allows you to see where your shipments are at all times, so you can quickly identify and address any potential problems. For example, if a shipment is delayed, you can use real-time data to contact the customer and let them know. This will help keep them informed and satisfied, and it may also prevent them from cancelling their order. In addition to improving customer service, real-time data can also help you improve your efficiency. By tracking shipments in real time, you can identify the most efficient routes and carriers. This can save you money on transportation costs and reduce your carbon footprint. If you are looking for a way to improve your truck or rail transportation operations, you should consider using a TMS that provides real-time data. This will give you the visibility you need to make informed decisions and improve your efficiency. SaaS TMS software is ideal for truck and rail companies because it is cloud-based, scalable, and cost-effective. This means that you can access your TMS from anywhere, at any time. It is also scalable, so you can easily add or remove users as your business grows. And because it is cloud-based, you don't have to pay for the hardware or software licenses. How to Choose the Right TMS for Your Business When choosing a TMS, there are a few factors you need to consider. These include your specific needs, your budget, and the vendor's reputation. Once you have considered these factors, you can start to narrow down your options. There are a number of TMS vendors on the market, so you should be able to find one that meets your needs. Real-time data is essential for truck and rail transportation companies. By using a TMS that provides real-time data, you can improve your efficiency, customer service, and profitability. SaaS TMS software is a great option for truck and rail companies because it is cloud-based, scalable, and cost-effective. Additional benefits of using real-time data in a TMS for truck and rail: In addition to the benefits mentioned above, real-time data can also help you improve safety, reduce fraud, and increase compliance. Princeton TMX uses real-time data in its calculations and reports. It is easy to use and affordable. You can get started with Princeton TMX in minutes, and there are no upfront costs or hardware to purchase. Princeton TMX is also scalable, so you can easily add or remove users as your business grows. Princeton TMX is the perfect solution for businesses that want to improve their transportation operations. With Princeton TMX, you can: Track shipments in real time: See where your shipments are at all times, so you can quickly identify and address any potential problems. Manage carriers: Easily find and manage the best carriers for your needs. Optimize routes: Find the most efficient routes for your shipments, so you can save money on transportation costs. Improve safety: Track the location of your drivers and vehicles, so you can quickly identify any potential safety hazards. Reduce fraud: Verify the identity of your drivers and carriers, so you can reduce the risk of fraud. Increase compliance: Track your compliance with regulations, so you can avoid costly fines. If you are not already using real-time data in your TMS, we encourage you to consider doing so. It is a simple way to improve your efficiency, customer service, and profitability.
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