Shipwell, a leader in the shipping and logistics industry, today announced the launch of a set of highly differentiated pricing intelligence tools to identify appropriate rates in a volatile market while efficiently securing capacity that meets individual shipment requirements. Shipwell’s pricing intelligence capabilities come at an essential time as supply chain managers look for tools that take the guesswork out of pricing strategies.
Between November and March, the cost of shipping a container of goods rose by 80%, putting tremendous pressure on supply chain managers looking for any advantage in their pricing strategy. Adding to that burden is that many traditional shipping departments still rely on conventional pricing methods, which aren’t enough to keep pace in this digital era.
“We knew there had to be a better way to build resilient and sustainable pricing strategies,” said Greg Price, Shipwell’s co-founder and CEO. “Too many people are fighting uphill battles with limited tools and data. We want to make it easy to price with confidence as your business grows.”
Two of the most common current methods of creating pricing strategies are spreadsheets and auctions, but both have their shortcomings. Spreadsheets are prone to errors and don’t scale effectively, while auctions make it challenging to determine whether the prices provided are competitive. Shipping and logistics departments often turn to big data to answer those problems, but even that can be perilous. To begin a successful evolution, teams need the right kind of data, delivered at the right time.
The pricing intelligence tools empower teams to overcome the shortcomings of current pricing strategies by:
- Providing access to 14-day pricing forecasts keeps the slightest shift in pricing from significantly impacting margins should shipping volume increase.
- Comparing rates industry-wide from thousands of sources, the tool reveals accurate historical rates for a quick and focused review.
- Solving the complex and time-consuming problem of managing multiple variables for each shipment by streamlining recommendations into any existing workflows.
The tools provide accurate price forecasts, tailored market benchmarks, and other valuable data embedded into existing workflows so businesses can use them effectively. With Shipwell, supply chain managers can now feel protected from being left behind by sudden shifts in the market.
“Pricing intelligence provides the intel needed to be able to negotiate rates with my carriers, and ultimately save on freight cost,” said Jeannine Arzillo, a Customer Service Representative at Premier Packaging.
To find out more about Shipwell’s pricing intelligence tools, visit shipwell.com/pricing-intelligence.
Shipwell is transforming the supply chain industry with a cloud-based shipping solution that grows with your business. Our connected SaaS platform combines the features and functionality of a TMS with advanced visibility and an integrated partner network in a simple solution that uses data analytics and workflow automation to maximize efficiencies and reduce total cost of ownership. Our innovative architecture delivers actionable, data-driven insights so customers can focus on high priority tasks, identify and resolve transportation issues, and quickly access capacity. From order management to financial reconciliation, Shipwell’s platform saves time, reduces cost, and optimizes the shipping experience throughout the entire supply chain. Shipwell is proud to be recognized as a Niche Player in the 2021 Gartner Magic Quadrant for TMS, as well as a Forbes 2020 Next Billion-Dollar Startup.