TMS: Your Compass in a Stormy Market

Dockworker strikes, rail strikes, geopolitical turmoil and economic uncertainty are just some of the realities that shippers and carriers have been dealing with for much of 2024. Where using terms like “VUCA” (volatility, uncertainty, complexity and ambiguity) to describe market conditions once felt a bit dramatic, most would agree that the transportation and logistics markets have both become very VUCA-like over the last couple of years.

To survive and thrive in this environment, organizations have to be agile, responsive, adaptable and equipped with the right tools. Technology like transportation management systems (TMSs) can play a pivotal role in guiding companies through these challenging conditions. Not only does a system like Revenova TMS provide valuable market trend data and identify emerging risks, but its integrated Salesforce customer relationship management (CRM) platform offers insights into evolving customer behaviors and preferences.

In essence, a TMS acts as a compass that guides companies through both stormy and calm markets—and all conditions in between. “Transportation management systems help supply chain leaders manage disruptions and mitigate risks,” Gartner points out in its latest TMS Magic Quadrant report. This is one of several reasons why the global TMS market will exceed $2 billion this year—up from $1.32 billion in 2019—for a 60% growth rate over the 5-year period.

Here are some of the proven ways that a platform like Revenova TMS can help your organization successfully navigate uncertainty, leverage new opportunities and reduce transportation-related risk:

Excellent Visibility and Control

Managing transportation on spreadsheets and disparate point solutions that don’t communicate with one another is a failed approach in today’s fast-moving transportation market. With the right TMS in place, companies can count on the good visibility and control they need to be able to make fast, automated and accurate freight decisions. The system provides real-time visibility into the end-to-end transportation network, monitors performance, tracks shipments and identifies issues before they turn into real problems—as they have the propensity to do when markets are volatile and uncertain.

Lower Risk

The right TMS also helps companies identify and mitigate risks in their supply chains, where potential problems seem to be lurking around every corner right now. These platforms give businesses real-time insights into their transportation networks and help them make fast, proactive moves to prevent disruptions and/or minimize their impacts. On the financial front, a TMS helps organizations make more informed decisions about their transportation strategies, effectively reducing the likelihood of costly errors and ensuring regulatory compliance.

Cost Savings

On average, a TMS can help companies shave transportation costs by anywhere from 5% to 20%, depending on the individual operation. Revenova TMS helps companies lower transportation costs through features like better rate negotiation, route optimization, load consolidation and the reduction of empty miles. The platform also reduces the need for manual tasks (e.g., creating shipping documentation, tracking shipments, answering phone calls/emails from customers looking for their shipments, etc.) and the likelihood of errors, both of which can be costly and resource-intensive.

A Digitalized Transportation Journey

Revenova TMS empowers companies to create seamless and efficient end-to-end transportation networks. Using their TMS as a central command center for all things related to transportation—planning and execution to tracking and analysis—companies always have a comprehensive view of their supply chain. They can make informed decisions, optimize processes and grab emerging opportunities. From route planning and load optimization to freight rate negotiation and carrier selection, the right TMS removes the friction from every link of the transportation journey.

Streamlined Logistic

Cutting-edge solutions like a cloud-based TMS help businesses streamline their end-to-end transportation networks. They not only automate tasks like order management, contracting, delivery and payment, but they also help optimize costs, improve the customer experience and are designed to scale with organizations as they grow. These are just some of the key reasons why having a robust, modern TMS has become table stakes for growing companies.

Turn Obstacles into Opportunities

In this turbulent transportation environment, fuel prices, supply chain disruptions and changing regulations are creating new challenges for companies. Weathering these storms and emerging even stronger, requires a TMS to serve as a powerful tool for navigating these choppy waters. With a dynamic, cloud-based platform like Revenova TMS on its team, your company will be able to develop a more agile, resilient supply chain that can withstand the pressure and turn obstacles into opportunities.

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