Innovations Continue to Drive Exponential Growth for Chainalytics’ Pan-European Truckload Benchmarking Model
Atlanta, GA & Milan, Italy — January 22, 2014 – Chainalytics, a recognized global leader in supply chain consulting, analytics and market intelligence, announced today that its coverage of freight movements within the European Freight Market Intelligence Consortium (FMIC) has doubled in size since this newest model’s initial release in February 2014.
Over the last ten months, the European FMIC has grown to include 2.2 million pan-European, cross-border, intermodal and domestic loads annually. Since its inception, the European model’s scope has been expanded to include freight market data for ambient and temperature-controlled loads and freight movements across all of Europe, extending into and between Turkey, Russia and the CIS countries.
“Membership in the European FMIC provides member companies with detailed results that enable them to identify quick-wins and long-term improvement opportunities on a detailed level,” stated Gary Girotti, EVP of Global Supply Chain Intelligence & EMEA Transportation Consulting at Chainalytics.
“The FMIC suite of tools provides members with the ability to analyze results by lane, by carrier, by business unit or division, and includes fully customizable company-specific dashboards. This unprecedented granular-level of detail and transparency into transportation markets enables members to dissect their complex transportation networks, minimize disruptions in their operations, all while maximizing cost reduction opportunities and significantly reducing the internal effort needed to confidently attain actionable insights.”
Chainalytics FMIC leverages a proprietary econometric model-based benchmarking approach to provide strategic freight market intelligence, actionable insights and comparative analysis for its member companies, enabling them to improve their supply chain operations and elevate the role transportation plays within the organization. The econometric transportation cost model quantifies the effects of several underlying cost drivers, such as origin and destination effects, equipment type, loading conditions, resulting in a best-in-class predictive tool that can be used to assess the unique rate position of an individual shipper in comparison to the overall transportation market.
FMIC member companies also participate in a focused survey that accounts for each shipper’s fuel programs, operational factors and accessorials. A wealth of additional insight is provided by identifying the impact each of these unique cost drivers has on an individual’s transportation rates, enabling each member-shipper to understand exactly how service requirements and business restrictions are specifically impacting their overall rates.
Since FMIC’s flagship North American truckload model, initially launched in 2003, FMIC has become the world’s leading source for freight market insights. Each year, Chainalytics analyze rates and provides market trends for approximately $23 billion in freight spend – across all major industries and modes of transportation (including dry van, temperature-controlled, flatbed, and intermodal), less-than-truckload, global ocean container and third party logistics (3PL) shipments – to help its more than 150 member companies understand current and future freight market dynamics.
To inquire about membership or learn more about FMIC, email fmic@chainalytics.com or simply use the contact from below.
About Chainalytics
Bright Minds. Better Methods. Best Outcomes. Chainalytics accelerates fact-based transformation for supply chain leaders around the globe, including 18 of Gartner’s Top 25 supply chains. We bring unparalleled passion to our core purpose: To help leaders realize maximum value from their supply chains. Our combination of top supply chain talent, proven methodologies, and proprietary market intelligence delivers actionable insight and measurable outcomes. With locations across Europe, North America and Asia-Pacific, Chainalytics serves companies globally in a borderless fashion.
