Release Date: 11 October 2007
Release ID: 1359
Management Dynamics Inc., a leading provider of global trade management solutions, today announced a strategic alliance with CombineNet that will provide importers and exporters with a comprehensive spend management system to effectively reduce the escalating costs of global transportation. CombineNet’s advanced sourcing platform integrates with Management Dynamics’ international transportation management system to automate the complete procure-to-pay process for airfreight and seafreight operations. This new joint product offering is available now for the 2008 contracting year.
According to Aberdeen Group’s recent report, Winning Strategies for Transportation Procurement & Payment, 81% of 380 enterprises surveyed with freight spend over $25 million plan to implement new transportation procurement and payment technology. And, the majority of respondents believe that a more sophisticated procurement and freight audit solution can save an average of 8.8% on their overall freight budget.
“Aberdeen research consistently shows that simply managing transportation spend at the day-to-day, tactical level is no longer enough to remain competitive,” according to Ian Hobkirk, Senior Analyst in Aberdeen’s Logistics practice. “Management Dynamics’ approach will allow them to provide a comprehensive solution that combines the best aspects of global trade management, tactical transportation management, and, through CombineNet, strategic transportation procurement. Aberdeen research shows that Best-in-Class companies are 60% more likely to use these types of flexible bidding systems in their transportation procurement process.”
CombineNet’s Advanced Sourcing Application Platform enables Expressive Commerce™, a strategic sourcing approach that allows shippers and carriers to make optimal cost, volume and service tradeoffs with the following key capabilities:
▪ Patented optimization engine to analyze potential award scenarios across an unlimited number of bids, bid attributes and business constraints in seconds.
▪ Expressive Bidding® delivers optimal transportation cost savings by enabling carriers to make creative bids that leverage their strengths, letting them offer conditional pricing, equipment and route alternatives, and packaged offers to deliver greater value at a lower cost.
▪ Scenario BuilderSM helps shippers make better decisions faster by analyzing each bidding iteration alongside business rules and preferences to understand the cost and service level implications of transportation awards.
"We have been delivering successful seafreight and airfreight sourcing projects for years that have saved some of the world’s largest shippers millions of dollars at the time of the award,” said CombineNet CEO, Tony Bonidy. “Our alliance with Management Dynamics expands the value proposition for clients with a complete automation solution that improves efficiencies and allows them to more effectively manage their global transportation providers before and after the bid award.”
Awards generated from the CombineNet solution are then managed over the contract term in Management Dynamics’ transportation management solution which delivers the following operational benefits:
▪ Improve contract management through a centralized repository and contract amendments with role-based access
▪ Simplify routing decisions by comparing all routing combinations, including transshipment points, available under contract
▪ Optimize carrier selection decisions by comparing side-by-side alternative carrier services and bottom-line costs inclusive of all assessorials prior to booking
▪ Manage contracted commitments against actual volumes
▪ Automate the freight audit process to identify, document and resolve discrepancies with carriers prior to payment
Contracts are managed throughout the entire lifecycle to monitor changes to routes and rates and facilitate future tenders with baseline carrier data and performance metrics.
"Closed-loop spend management for global transportation provides the right mix of information technology and services to enable companies to get control over their freight costs in support of their internationalization strategies,” said Jim Preuninger, CEO of Management Dynamics. “CombineNet’s advanced sourcing technology can handle the complexity of today’s global transportation networks and uncover real cost savings from the ‘win-win’ innovation of Expressive Commerce™.”
About Management Dynamics, Inc.
Management Dynamics is a leading provider of global trade management solutions that improve the performance of global supply chains for importers, exporters, logistics service providers, and carriers. The company's solutions synchronize the flow of information among trading partners, optimize supply chain execution decisions, and streamline import and export processes to ensure regulatory compliance and minimize cost and risk involved in cross-border transactions. Management Dynamics' time-proven solutions are used by more than 13,000 global users at some of the world's most successful 3PLs, carriers, manufacturers, retailers, and high technology companies. For more information, please visit www.ManagementDynamics.com or call (201) 935-8588.
About CombineNet, Inc.
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
One Meadowlands Plaza East Rutherford New Jersey, NJ 07073
© The Adora Group Limited 2017 - Publishers of Freightnet