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by | Oct 23, 2024

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The Dual Advantage: How to Manage Carriers and Private Fleets with a Single TMS

Industrial manufacturers face a unique challenge in managing transportation: balancing the operational needs of both third-party carriers and private fleets. Each has its own cost structures, performance metrics, and logistical challenges, making coordination between the two networks a complex task. Many companies struggle to manage these two transportation assets separately, leading to inefficiencies and limited visibility across the entire supply chain.

The solution? A Transportation Management System (TMS) that allows manufacturers to manage both third-party carriers and private fleets on one unified platform. Princeton TMX offers such a solution, empowering manufacturers to gain full visibility into their entire transportation network, reduce operational costs, and streamline logistics processes.

“Managing both carriers and private fleets used to mean juggling multiple systems and processes,” says Mark McEntire, CEO of Princeton TMX. “Our TMS integrates these operations into a single platform, simplifying the management process and enabling our customers to make more informed, strategic decisions.”

The Challenge of Managing Both Carriers and Private Fleets

Using both third-party carriers and private fleets offers manufacturers flexibility but also brings complexity. Carriers are often relied upon for their expansive networks and scalability, while private fleets provide more control over asset utilization and direct delivery routes. The challenge comes when companies attempt to manage these two systems independently, resulting in data silos, inefficiencies, and missed opportunities for optimization.

When transportation networks are fragmented, logistics teams often lack full visibility into how each system performs in relation to the other. This can lead to suboptimal decisions around asset utilization, increased costs, and difficulty adapting to sudden changes in demand.

Jeff Durham, CTO of Princeton TMX, highlights this issue: “When you don’t have a unified system to manage both your carriers and private fleets, you’re constantly dealing with incomplete data. Our TMS changes that by integrating everything into one place, giving logistics teams the visibility they need to make the most efficient decisions.”

The Benefits of Managing Carriers and Private Fleets in One TMS

A TMS that integrates both carriers and private fleets offers significant advantages for industrial manufacturers. By bringing these networks together on one platform, logistics teams can streamline operations, optimize costs, and improve overall performance. Here’s how Princeton TMX provides a dual advantage:

1. Full Visibility Across Transportation Networks

Managing third-party carriers and private fleets on one platform provides real-time visibility into both networks, allowing logistics teams to monitor performance, compare costs, and make strategic decisions. This unified view helps eliminate data silos, enabling better coordination between transportation resources.

With Princeton TMX, manufacturers can access a centralized dashboard that provides real-time insights into key metrics like delivery times, fuel usage, and asset utilization. This enables logistics teams to proactively identify issues and make adjustments as needed.

“Having everything in one system gives our customers unparalleled visibility and control over their transportation operations,” says Kevvon Burdette, CCO of Princeton TMX. “They can see exactly how their private fleet is performing compared to their third-party carriers, which helps them optimize asset utilization and reduce costs.”

2. Optimized Resource Allocation

A unified TMS enables logistics teams to optimize resource allocation by choosing the best option for each shipment, whether that’s a private fleet vehicle or a third-party carrier. This helps maximize the use of private fleet assets when they’re available and strategically outsource to carriers when necessary.

For instance, Princeton TMX’s platform allows manufacturers to compare cost-per-mile, fuel efficiency, and delivery timelines for both carriers and private fleets, ensuring that the most cost-effective option is chosen for each load. The ability to dynamically allocate resources leads to reduced operational costs and improved efficiency.

3. Cost Reduction Through Integrated Reporting

Managing carriers and private fleets separately often leads to duplicate processes and a lack of cohesive reporting. Princeton TMX addresses this by providing integrated reporting across both networks, giving logistics teams the ability to track and analyze costs in one place.

With access to real-time data and automated reporting, manufacturers can quickly identify opportunities to reduce costs, such as consolidating shipments, adjusting routes, or negotiating better rates with carriers.

“By bringing everything together in one system, you’re able to spot inefficiencies and cost-saving opportunities that you might miss with separate systems,” says Jeff Durham. “Whether it’s consolidating shipments or optimizing fleet usage, our platform helps logistics teams make smarter decisions.”

4. Improved Private Fleet Utilization

Private fleets can be a valuable resource, but they can also be costly if underutilized. Maximizing private fleet utilization is key to keeping costs low and ensuring the fleet operates at full capacity. Princeton TMX’s TMS allows logistics teams to prioritize the use of private fleets when it makes the most sense and leverage third-party carriers for less optimal shipments.

This strategic allocation of resources ensures that the private fleet is always operating efficiently, reducing empty miles and increasing cost-effectiveness.

5. Data-Driven Decision Making

A TMS that integrates both carriers and private fleets provides the foundation for data-driven decision making. With access to real-time data across the entire transportation network, manufacturers can use predictive analytics to forecast demand, manage fleet capacity, and optimize operations over time.

By analyzing trends in shipping delays, carrier performance, and fleet utilization, manufacturers can refine their transportation strategy and continuously improve operations.

“We’ve designed our platform to give logistics teams the data they need to make informed decisions,” says Mark McEntire. “The ability to predict trends, optimize resources, and mitigate risks is what sets our TMS apart and delivers real value to our customers.”

Princeton TMX’s Dual Advantage Solution

Princeton TMX’s dual management solution provides manufacturers with the tools they need to seamlessly manage both third-party carriers and private fleets. Here’s how the platform enables this:

  • Unified Dashboard: Princeton TMX provides a centralized dashboard that offers real-time insights into both carrier and private fleet operations. This ensures that logistics teams have the visibility they need to make informed decisions.
  • Automated Load Assignment: The platform automates the process of assigning loads based on the most efficient and cost-effective option, whether that’s a private fleet vehicle or a third-party carrier.
  • Performance Monitoring: Princeton TMX tracks key performance indicators (KPIs) for both carriers and private fleets, allowing logistics teams to monitor performance and make adjustments in real-time.
  • Predictive Analytics: The platform uses AI-driven predictive analytics to forecast demand and optimize resource allocation, ensuring that both networks operate at peak efficiency.

Conclusion: Unlock the Dual Advantage with Princeton TMX

Managing third-party carriers and private fleets doesn’t have to be a complex, inefficient process. With Princeton TMX’s unified TMS, industrial manufacturers can gain full visibility, optimize resource allocation, and reduce costs by managing both networks on one platform. This dual advantage not only simplifies logistics operations but also delivers long-term value through improved decision-making and greater operational efficiency.

Ready to unlock the power of a unified transportation management system? Contact Princeton TMX today to learn more about how our platform can revolutionize your carrier and private fleet management.

 

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