Procurement is at the heart of every supply chain
Without data at your procurement team’s disposal, chances are they’re negotiating blind. There's only so much internal knowledge can provide, and your people and margins should be given the best chance to hit and exceed your targets. How can you do this? Analyzing 450M+ freight rates is an essential way to start.
Monitor supply & demand
Negotiate smarter
Enable excellence
The value Xeneta brings to Procurement teams
Xeneta gives procurement teams across the ocean and air freight markets a chance to level the playing field with their suppliers.
Should you be looking at short or long-term contracts? Is the route you always choose the most cost-effective? Where do you have the potential to negotiate a lower rate?
Xeneta's crowdsourced market data, representing $60B+ in freight spend, answers all these questions and more.
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Relevant data for Procurement
What type of contract should you invest in?
Available in our ocean and air solutions, the Trends Graph shows how freight rates are developing across the short and long-term markets. Compare these trends to your actual rates to spot where you’re performing well, where you should consider renegotiating and which contract length may be best suited.
Challenge your suppliers
Use Capacity & Blanked Sailings data to identify the most cost-effective and time-efficient routes and suppliers.
Bring transparency into all your negotiations. If a trade lane has high capacity, why are you paying a premium price? You need to understand the nuances that make up your rates.
Where are you overspending?
When you upload your rates into Xeneta, you get an overall view of your spend performance, including Spend Coverage by carrier and Savings Potential by lane.
Savings Potential provides an instant view into which lanes are farthest away from market average (aka a high opportunity for renegotiation). By seeing the differences between your rates and the real-time and historical market rates, you can prioritize how you procure and proactively find the most cost-efficient, time-effective lanes.
Analyze hundreds of lanes in seconds
Procurement teams use the Tender Benchmark Tool to eliminate lengthy manual processes and benchmark their bids at a multi-lane level with speed and accuracy.
With the speed and breadth of data that the Tender Benchmark Tool produces, teams can focus on narrowing their vendor selection and making a decision in just a few rounds, not five or six.