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Ep. 02: The Total Cost of Transportation with Ed Garner and Lisa Anderson
Manage episode 407413688 series 3559936
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The rising cost of transportation bottlenecks and service delays have left logistics managers with much to manage. Calculating the total cost of these issues is difficult when only addressing a predetermined price per transaction. Strategic partnerships between shippers and carriers can mitigate pain points and lead to a better customer experience. But, how can logistics partners improve the supply chain and reduce cost in today’s operating environment and create resilience in logistic operations?
Joining Host Jonathan Betz are two industry experts who share best practices for forging and nurturing long-term partnerships. Ed Garner is the Director of National Accounts at Old Dominion Freight Line and Lisa Anderson is the Founder and President of LMA Consulting Group. LMA Consulting provides expertise and advice on end-to-end supply chain strategy and business transformation.
Key Takeaways:
In 2022, the top three challenges shippers face have carried over from 2021. Ed shares the details. [:56]
Lisa shares the strategies of shippers on how they manage their transportation costs as prices rise. [3:17]
Ed explains the total cost of transportation and why carriers are the single most important link in the supply chain. [4:47]
A precise and coordinated operational execution plan is necessary when two-thirds of every shipment handled requires an appointment. [7:21]
Lisa comments on what it will take for carriers to excel in this on-demand economy. [8:47]
Ed maintains that one of the best methods to forge and maintain a long-term partnership between carriers and shippers is for the relationship to be strategic, not transactional. [11:22]
As many companies turn to the total cost of transportation, Old Dominion developed a value calculator which allows customers to see what the actual cost of moving a shipment is. [13:20]
Best practices for the future of logistic partner relationships, building resiliency into supply chains, and providing superior customer service; both Lisa and Ed weigh in. [16:09]
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