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Freight Procurement & Vendor Management

Freight Procurement and Vendor Management

The way that freight is procured drives bottom-line results. This applies to procuring any mode of transportation (road, ocean, air, or intermodal) as well as to procuring technologies that automate and streamline operations.

Have you ever considered that the easy button might be costing more than you realize when it comes to freight procurement?  When is the last time you evaluated your procurement process?  Do you work with the same vendors, in the same ways, year after year?  If so, you may be paying above-market rates, experiencing vendor complacency, receiving poor service quality, and an overall mismatch of capabilities for the job.  Allow Marex to quantify the cost and help you improve your freight procurement process and methods with automation and deep domain expertise in freight vendor procurement.

Strategic sourcing is the key to commercial success

Effective strategic vendor sourcing, as a supply chain solution, is central to your business success. Robust procurement processes ensure cost control and compliance in transportation services. It streamlines activities and allows process visibility for productivity and profitability improvements in agile supply systems.

Procurement is not a single process. It is a set of linked tasks to get the goods and services your business needs to meet its strategic objectives. The procurement process starts with finding approved vendors and ends with the payment of invoices and supplier performance monitoring.

Older procurement systems are often paper-based and driven by spreadsheets, requiring significant time and human resources.  These have become impractical. Modern technologies have rendered them obsolete.

Procurement processes become increasingly more complex as your business grows.  Unless you adapt your systems to encompass increasing expenditure and an escalation in transactions, your business will suffer the consequences. Monthly expenditures will run over budget, purchase data will disappear, and service quality will decline.

Innovative procurement solutions drive business success

Our team can offer you innovative solutions based on years of experience in freight procurement and vendor management.  Let us re-engineer your systems, automate mundane everyday tasks and quickly find best-in-class freight solutions at competitive prices.

A well-designed procurement system must include some key components
  • Repeatable processes – every purchase should follow the same procedures to ensure policy compliance.
  • Clearly defined procurement policies – modern technologies allow you to set procurement conditions on the system for automatic processing.
  • Our freight procurement solutions address industry pain points and deliver tangible results. Allow Marex to match the right freight procurement system to your business.
  • Vendor Due Diligence & Prequalification – vet and prequalify vendors by service type, by geography served, and by individual lanes or locations.
  • Access Market Intel – ditch the newsletters and market reports and gain access to real-time and historical freight data all in one location.
  • Dynamic pricing – obtain real-time pricing that reflects the market reality allowing you to optimize procurement.
  • Automate your RFIs, RFQs, and RFPs – leverage modern technology to automate and streamline the procurement process.
Over the years, our procurement solutions have generated average savings for our clients of 7%. Such savings drop straight to the bottom line.

Establish a competitive advantage through automated freight procurement

In recent years, freight procurement technologies have become indispensable in complex yet agile supply chains. Automated optimization technology gives you the power to evaluate various freight procurement factors like carrier prices and available routes.

It’s a tool that raises visibility throughout the supply chain, allowing businesses to improve freight management efficiencies, reduce costs and enhance customer service. Modern freight procurement systems digitize procurement activities and speed up the process through automation.

The right freight partners are critical to your business, and supplier considerations include more than just cost. Capacity, reliability, and performance are equally important.

Modernizing freight procurement processes

Marex leverages collaborative digital platforms to automate the freight procurement process.

Components of a modern and collaborative system include:

  • Automated Agreements such as Non-Disclosure Agreements and Contracts
  • Vendor Vetting and Prequalifying
  • Requests for Information (RFIs)
  • Requests for Proposals (RFPs)
  • Market intel and analysis

Our freight procurement solutions reduce cost, save time and operate more intelligently. The logistics technology experts on the Marex team will custom fit the best procurement management platform to your business needs and optimize and automate your freight procurement process.

If you’re ready to adopt new methods, we’re here to help. If you’re not quite ready for full automation, our team can help upgrade your older systems for improved efficiency and cost savings.

Vendor Management

As crucial as vendor procurement is to your business, vendor performance management is equally so. It ensures that the service delivery that you negotiated stays on track.

Our processes and tools deliver much-needed visibility into expenditure. Valuable information includes real-time reporting data, helping you to make proactive decisions for the benefit of your business.

We provide our clients with access to the following reports and data

  • Key Performance Indicators (KPI) reporting (Planned vs. Actual)
  • Business Intelligence
  • Cost Analysis
  • Standard and Customized Reports

Hold your freight vendors accountable through measures that can help you with decisions based on the total transportation costs, including price and delivery performance.