Total Economic Impact analysis shows proprietary technology, expert team, continuous process improvement yields $1.4 million in LTL freight cost savings.
HICKORY, N.C. (June 29, 2021) – According to a commissioned study conducted by Forrester Consulting, Transportation Insight’s managed transportation solution has a proven 251 percent return on investment over a three-year period. Citing benefits such as annual savings on freight and cost mitigation, improved on-time delivery and enhanced transparency to transportation costs, Forrester’s Total Economic Impact TM study values the benefits of the Transportation Insight customer’s managed transportation solution at $1.6 million.
“Our managed transportation solution is targeted at giving our customers access to the best technology and insights into their business backed by a team of experts across procurement, operations, continuous improvement and account management. Our hybrid-digital approach gives them control, scale and visibility into all aspects of their transportation activity,” said Clay Gentry, president of the managed transportation division for Transportation Insight. “In the logistics market, there is a need to equip and empower small- and medium-sized shippers to eliminate and mitigate costs, drive positive behaviors throughout their organization, monitor compliance with implemented strategies and ultimately, compete with larger, more sophisticated shippers that have the scale to invest capital in a more complex transportation management platform.”
Forrester’s research and analysis identified benefits over a three-year period of Transportation Insight’s managed transportation solution for this customer:
- Freight cost savings over $1.4 million, with average annual LTL savings and cost mitigation of more than 10% of the customer’s annual LTL budget
- Personnel cost savings over $840,000 over a three-year period
- Transparency into freight costs that allows stakeholders to see all transportation spending in one place
- Better on-time delivery to fulfill the customer’s specific shipping requirements, control costs and protect end customer experience
- Leveraging technology to fulfill needs for specific capacity and special handling situations
“Companies are seeing transportation costs rise as a percentage of total costs. As a result, managers must oversee these costs aggressively,” according to Forrester’s Total Economic Impact study. “Transportation Insight Managed Transportation provides managers with transparency into their total spend and allows them to see managed transportation not as a cost center, but as a source of competitive advantage.”
Solution elements considered within the managed transportation solution includes:
- Named enterprise service team including single focus account manager the customer can call any time
- Consolidated electronic billing
- Custom understanding and improvement of Standard Operating Procedures (SOP)
- Continuous improvement projects
- Network simulation and modeling
- Proprietary tools
- Insight Freight: Freight audit and payment portal
- Insight TMS: Proprietary Transportation Management System (TMS) for load planning, execution and freight consolidation, among other functions
- Insight Fusion Business Intelligence Portal: business analytics and reporting for actionable insights
While Forrester’s study focuses on Transportation Insight’s managed transportation solution, the organization’s hybrid-digital solutions provide customers with a full-service transportation management platform, from standard TMS deployment to complete outsourced less-than-truckload, truckload, and small parcel program management.
The Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of initiatives to both senior management and other key business stakeholders. For this study, Forrester interviewed the senior vice president of a school supplies provider. The business compiles products from several inbound resources into large shipments for outbound delivery to customers within specific delivery windows. This facilitates key planning for crews to be available to offload, install and remove refuse from packaging. Forrester used this testimony to create a three-year financial analysis.
To learn more about Forrester’s economic impact analysis of Transportation Insight’s managed transportation solution, register for the webinar on July 27 at 11 a.m. Join “Total Economic Impact: 251% ROI with Transportation Insight Managed Transportation Solution” to understand where our interviewed client found the most value in a partnership with Transportation Insight.
About Transportation Insight, LLC
Transportation Insight is a multi-modal, lead logistics provider that partners with manufacturers, retailers and distributors to achieve significant cost savings, reduce cycle times and improve customer satisfaction rates through customized supply chain solutions. Transportation Insight offers carrier sourcing, freight bill audit and payment services, state-of-the-art transportation management system (TMS) applications, parcel technology platform (audit, engineering, advanced analytics) and business intelligence. The Enterprise Logistics division of the Transportation Insight Holdings, LLC, (TI Holdco) portfolio, Transportation Insight operates alongside transactional freight brokerage Nolan Transportation Group (NTG) to help client shippers engineer efficient supply chain networks. Combined, the $4.3 billion TI Holdco organization serves 10,000 clients with logistics management services that include domestic transportation (TL, LTL, Parcel), e-commerce solutions, supply chain analytics, international transportation, warehouse sourcing, LEAN consulting and supply chain sourcing of indirect materials. Headquartered in Hickory, N.C., Transportation Insight has secondary operating centers and client support offices across North America. For more information, visit www.transportationinsight.com oremail email@example.com.