How a freight audit can help to optimize your LTL shipping strategy.
April 10, 2018
It can be tough to nail down a successful less-than-truckload (LTL) strategy. Trends and challenges are always going to cause it to shift and carriers are usually trying to figure out how to adjust at the same time. Periodically re-evaluating your LTL shipping strategy -- otherwise known as undergoing a freight audit -- can help you realign your business’ shipping strategy with your overall business strategy and provide you with new opportunities to capitalize on savings.
Understanding when the time is right.
While freight audits typically occur once a year, there may be other times to do it. A restructuring of your business, mergers, spikes in product demand and sudden company growth are all good reasons to undergo a freight audit. It’s important to keep in mind throughout this process, however, that the information you learn from an audit is only going to be as good as the data you start with. If you are not already keeping shipping records, you should start immediately.
Factors to consider during an audit.
A freight audit is going to garner a lot of information for you that would be helpful to have assessed by a logistics provider. While you may find that your business’ strategy is running up to par, sometimes an audit can unveil a few cracks beneath the surface. A logistics provider will work with you to interpret the data in a way that is tailored to your business.
Finding new opportunities along the way.
When it comes to LTL shipping, there may be opportunities for savings right under your nose that you haven’t considered. Mode optimization is likely where you are going to see the most significant savings, but types of packaging, multi-stop truckload and pool distribution all provide chances for your business to save as well.
Once you’ve found the best means of transport for your business, you will begin to reap the benefits of a freight audit and save valuable time and money.
Overall, a freight audit is nothing to shy away from. An audit can help you find new savings opportunities and implement efficiencies, which will lead you to refine your best shipping strategy yet. Read our Optimizing your shipping strategy whitepaper for a deep dive into when and how to undergo a freight audit and what it can ultimately do for your business.
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