April 3, 2020
Supply chains are scrambling to adapt to COVID-19, an unprecedented event that couldn’t be forecasted in demand planning. Some companies are pivoting to the production of a completely different product, and others are struggling to keep up with the surge in customer demand. Supply chain professionals are starting to make their supply chains more resilient to sudden changes like these, but how can they manage rising transportation costs right now?
1. Get visibility into your network
You can’t know where all of your opportunities for cost-cutting are until you have complete visibility into your entire distribution network. Know how many of what SKUs you have in each of your facilities, which ones are selling quickly, and which ones are just sitting in storage taking up much-needed capacity. Use this information to decide where you need to send products in bulk, or where you need to set up forward stocking locations so the goods customers are buying are geographically close by.
2. Cut down on detention and wait time fees
Sounds easier said than done, but partners like Stord who offer complete operational control of distribution networks make managing and meeting trucking appointments simple, so no additional fees are incurred. Plus, they are able to dedicate the resources you can’t to examining invoices and resolving exceptions.
If you need help managing freight costs or securing freight services, contact us at https://go.stord.com/lower-freight-costs