The supply chain has no shortage of acronyms; ELD, ACE, POD, 3PL, eBOL, ECCN, among others. And more recently a new term has joined the list, creating buzz and debate over something referred to as “5PL.” If you haven’t heard of 5PL yet, you’re not alone. A recent LinkedIn poll surveyed over 500 industry professionals and 48
As the industry’s “middlemen,” freight brokers know a thing or two about holding the supply chain together, and that’s why we continue to see an influx of new technology and software solutions built specifically around the needs of 3PL professionals. One phrase becoming more prominent each day is, “intelligent automation.” What does that mean exactly?
It was the tail-end of June, in 1969, on the brick-lined streets of New York’s West Village…A community of LGBT+ Americans and allies stood up for their rights and began an equality movement we now refer to as Pride… June (Pride Month) may be over, but the importance of diversity and human rights remains. It’s
A Story of Shortages and Price Fluctuations It starts with the turn of the key, and in a flash – potential energy is converted to kinetic energy. A distinct smell of diesel fills the air as professional drivers begin their journey – all thanks to the firing of a few cylinders beneath the hood. For
By Frank Gambino The 732-billion-dollar question on everyone’s mind…where is the trucking industry really headed? After all, it’s no secret that most forecasts have looked something like a heart monitor at a haunted house with rising and falling that has experts scratching their heads at what could possibly come next. There are many factors that
Ready for Prime time While online shoppers wait for Amazon to release official dates for Prime Day, shippers have a deadline to work with: sellers that use Amazon’s fulfillment program (FBA, or Fulfillment by Amazon) have until June 20 to get their Prime Day goods into Amazon distribution centers. Last week Amazon also announced Buy with Prime, a service where third-party
Transflo continues to expand its Workflow AI solutions to help more freight professionals save cash and time with major advancements in document management. Freight Brokers and Factoring Companies can now implement the latest in freight tech… Transflo’s Workflow AI platform is as flexible as it is customizable. It’s an intelligent document processing solution designed to eliminate upwards
Pumped up fuel prices The benchmark diesel price that the trucking industry uses to calculate fuel surcharges hit a new record on Monday. The Dept. of Energy/Energy Information Administration weekly retail diesel price jumped 74.5 cents to $4.85 per gallon, 9 cents higher than the previous record on July 14, 2008. Fuel prices are up everywhere but
New broker-carrier relationships can be delicate as both parties begin working with new people, processes, and technology. Before entering a new relationship, motor carriers will evaluate a broker or third-party logistics (3PL) provider’s credit history — the average days to pay — and the terms and fees associated with their quick payment options. In the cash-intensive trucking
Lane profitability is a moving target for freight brokers and third-party logistics (3PL) providers with a narrow strike zone of about 15 percent net margin. 3PLs often miss this mark when covering loads with new carriers by going through load boards and using systems that require manual activities such as sending emails, making phone calls, and completing the onboarding process. Doing business with