Elemica helps companies prepare for the predicted capacity constraints to streamline, automate, and run dynamic sourcing events for logistics transportation. Its Logistics Sourcing services with Transportation Bid Optimization drive costs out of transportation spending by as much as 20%.
Elemica’s Logistics Sourcing services support high-volume, multi-currency transportation sourcing events for an unlimited number of bid lanes and carrier bids. It includes the ability to solicit and contract rates, capacity, and lanes for regional or global ocean, road, and heavy air freight, eliminating the need to use Excel-based manual processes. Event and bid history is tracked and stored indefinitely to meet all auditing and compliance requirements. Logistics Sourcing cuts sourcing event time by 50% to 70%, while aggregating and standardizing logistic routing guides and the carrier base.
According to Adrian Gonzalez of ARC, by fourth quarter 2010, the imbalance of capacity supply and demand will begin to correct and transportation rates will rise. Thus, companies that have established relationship with carriers and automate sourcing processes become more strategic through the entire transportation lifecycle, securing capacity at competitive rates.
Elemica’s Logistic Sourcing services incorporate Dynamic Bid Optimization allowing customers to evaluate hundreds of thousands of carrier bids against a custom-defined sourcing allocation strategy. With transportation procurement becoming an ongoing process as opposed to an annual event, Dynamic Bid Optimization manipulates large data sets that manual processes can’t handle, reduces errors by 50% to 70%, and cuts analysis time from weeks to minutes. Dynamic Bid Optimization analyzes complex strategies to understand the true cost of all potential sourcing decisions. Customers can create and analyze multiple transportation strategies where alternatives for mode, equipment size, transit time, and volume committed to single or multiple carriers are balanced to find the best possible solution. Manual optimization calculations are eliminated, reducing analysis time and allowing for complex collaborative what-if analysis in real-time.