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Today, ninety percent of Fortune 500® companies rely on 3PLs for outsourced logistics and supply chain services, according to an Armstrong & Associates report. Whether you’re a global enterprise or local manufacturer, how promptly and efficiently you react to customer orders has a direct bearing on customer loyalty, retention and earnings.

Rising complexity of freight management and technology-driven logistics has businesses of all sizes turning to 3PLs to help them drive efficiency, cost savings, and visibility into their supply chains.

A successful relationship with a 3PL comes down to choosing the right provider and creating a partnership. When you’re assessing potential logistics partners, it’s important to look beyond the questions like, “What lanes do you run? Where do you have the capacity and how many carriers do you have set up in your network?”

When you dig deeper, like looking closely at a company’s financials and operational structure, you learn more about how a 3PL or carrier will perform for you over the long haul.

How to Properly Vet 3PLs

To thoroughly vet the capabilities of a would-be logistics partner, break down your analysis into four key areas:

1. Operational structure and communications
2. Carrier relationships and interactions
3. Financial strength and insurance coverage
4. Technology capabilities

Operational Structure and Communications

Look for how the provider treats its customers. Can you contact them anytime with questions? Do they provide you with a broad team of experts that can easily handle all the transportation scenarios your company contends with?

Choose a company that’s big enough to move a large volume of freight, but nimble enough in operations where no customer is considered too small. Work with a company that can quickly scale service from local to national. It shouldn’t matter if you’re a first-time customer or long-term client, the right 3PL will help you find the best solutions for your specific logistics needs. Here are a few more points to consider:

Carrier Relationships and Interactions

When evaluating a 3PL’s carrier network, consider how it treats its carrier base.

And from the carrier’s perspective, how easy is the broker or 3PL to conduct business with? Is there great communication? Do they genuinely care about their carrier partners?

Financial Strength and Insurance Coverage

It’s important to select a stable 3PL with a solid financial track record of strong profitability and growth. Effective 3PLs must be financially sound to pay carriers quickly, invest in their own business operations, solutions and technology, and be in healthy financial position to take advantage of innovations that will both protect and advance your business. Use the following checklist to review a company’s financial strength closely, and check bank references:

To minimize the risk of disruptions, audit the 3PL’s various insurance coverages and operations to ensure they provide enough coverage to meet your minimum levels. Review and check-off the following items:

Technology Capabilities

Advanced application of technology throughout your supply chain helps a company become more efficient, increase productivity and gain a competitive advantage. Make sure the 3PL you choose provides a robust TMS with the following capabilities:

Check References

Finally, we encourage you to contact or call at least three customer references for each 3PL you’re considering. References help you validate a company’s range of service capabilities and provide you with insight into how a prospective 3PL performs over a span of years.

Learn how a 3PL can drive overall cost savings and efficiency into your supply chain. Connect with an expert to see how GlobalTranz fares against your 3PL checklist. Call 800-768-8695 or Contact Us

PHOENIX (July 16, 2018) – (BUSINESS WIRE) Speaking on the Mergers and Acquisitions in the Trucking Industry: Law and Practice panel, GlobalTranz General Counsel Jeff Simmons will share insights and industry best practices for attendees of the American Trucking Association’s Forum for Motor Carrier General Counsel.

Though 2017 saw a sharp increase in trucking and transportation industry mergers and acquisitions, more are predicted for 2018. The session addresses changes in the law and relevant legal issues to consider.

Simmons will provide attendees with critical legal insights about the merger and acquisition process. As these transactions can vary greatly from the sale of a family-owned company to the purchase of a national leader, Simmons outlines ways to coach clients through the process, ensure a strong internal team and account for necessary documentation.

“As the trucking and transportation space faces high demand, reducing and avoiding litigation risk is critical,” says Simmons. “The Forum for Motor Carrier General Counsel provides the opportunity to come together with colleagues and other executives and directors to share best practices for sound legal process. I am looking forward to sharing strategies and tactics with this prestigious group of professionals.”

After graduating from Georgetown University, Simmons received his law degree from the University of Arizona. He joined GlobalTranz after nearly 30 years in private practice. Simmons currently serves as President-Elect of the Transportation Lawyers Association and is a past Chairman of the Conference of Freight Counsel. In 2017, Simmons received First Chair Award for Top General Counsel and has been included in the 2011-2016 editions of Best Lawyers in America.

Each year, the Forum for Motor Carrier General Counsel assembles panels and seasoned professionals to address the most pressing legal issues in the field. Additional panels include Top Workplace Legal Trend and Employment Law Developments; Cybersecurity: Imposing New Legal Dilemmas; and Effective vs. Disastrous Depositions: Lessons Learned in the MC Industry. This year’s forum runs from July 15-18, 2018 at the Hyatt Regency Tamaya Resort & Spa.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, GlobalTranz was voted an Inbound Logistics Magazine Top 10 3PL and Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

PHOENIX (July 13, 2018) – GlobalTranz Enterprises, Inc., a leading technology-driven freight management solutions provider, has been voted an Inbound Logistics Top 10 3PL Provider.  GlobalTranz was selected for its full-service logistics and supply chain solutions that help more than 25,000 businesses across North America gain efficiency and control of their supply chain. This marks the 4th consecutive year GlobalTranz has been recognized by the publication.

“We’re honored to be voted a Top 10 3PL by our customers and industry peers at Inbound Logistics,” said Bob Farrell, chairman and CEO of GlobalTranz.” Achieving a top 10 position is a result of our employees’ and agents’ dedication to forging trusted partnerships with our customers, bringing technology-driven insights and creative solutions to their supply chain challenges. The spirit to do the right thing, combined with our robust TMS platform, truly sets GlobalTranz apart from other logistics providers.”

Inbound Logistics has long been regarded as a leading definitive resource for business logistics and supply chain professionals. Each year, Inbound Logistics readers and logistics professionals vote for their top 3PLs based on their ability to demonstrate excellence in service, quality, and meeting the needs of shippers and carrier partners.

The Inbound Logistics 2018 Top 10 3PL Provider list appears in the July 2018 print and digital edition of the publication. The list will also be posted online on the Inbound Logistics website. Readers will be able to visit the website and enter their outsourced logistics requirements to match the solutions for providers that best meet their needs.

“We’re excited to have GlobalTranz as a 2018 Top 10 3PL Provider” said Felecia Stratton, Inbounds Logistics’ Editor “GlobalTranz was voted by readers as an Inbound Logistics 2018 Top 10 3PL Provider for continuing to provide excellence in optimized logistics operations and innovative solutions to their customers and the challenges they face in the supply chain.”

Inbound Logistics has recognized GlobalTranz for the past four years, notably earning a spot on their Top 10 3PLs to watch list in 2017, and their Top 100 3PL list in 2016 and 2015.

Beyond the recent recognition by Inbound Logistics, GlobalTranz has been acknowledged in logistics and business communities for its innovation, growth, and leadership. Recent accolades include:

About Inbound Logistics

Inbound Logistics is the leading trade magazine targeted toward business logistics and supply chain managers. The magazine’s editorial mission is to help companies of all sizes better manage corporate resources by speeding and reducing inventory and supporting infrastructure and better matching demand signals to supply lines. More information is available at http://www.inboundlogistics.com.

About GlobalTranz
GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.

 MEDIA CONTACT:

Annie Graupner
(612) 229-4040
communications@globaltranz.com

PHOENIX (July 2, 2018) — (BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that it has closed its previously announced partnership with The Jordan Company, L.P. (TJC) as its new equity partner. TJC along with certain management has acquired 100% of GlobalTranz from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, Susquehanna Growth Equity, Volition Capital, Savano Capital Partners, and other investors.

For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.

About The Jordan Company, L.P.

TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation and Logistics, Healthcare and Consumer, and Telecom, Technology and Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL.

MEDIA CONTACT:
Annie Graupner 612-229–4040
communications@globaltranz.com

The first half of 2018 is in the books and it’s been a busy year for the freight community and supply chain industry. Many industry experts are reporting 2018 to be the most dynamic freight market in history. As we head into the second half of 2018, we’re featuring our top logistics stories of the year.

Shippers of Choice: Be the Customer Carriers Love to Have

In today’s capacity environment, shippers are competing against one another to book an available truck at a reasonable rate. Carriers have the choice to haul loads that are the most lucrative for their business and keep them within legal limits of HOS rules. Shippers who provide better experiences for carriers could reap long-term benefits. Read 5 ways to help transform your company into a shipper of choice.

Tips for Shippers in the New ELD Mandate Environment

If you’re a shipper, carrier or logistics company, it’s been impossible to ignore the news about the industry’s ELD mandate (Electronic Logging Device), which went into effect late last year. April 2018 was the first official month where carriers could be fined, ticketed or put out of service for non-compliance. Read how ELDs are impacting freight markets and tips for success in the new ELD Mandate environment.

Blockchain in Logistics: 10 Benefits and Why We Need Standards

Blockchain technology is considered by many to have as much potential as AI (artificial intelligence). For the logistics industry, blockchain is promising to create transparency of all documents and transactions across the freight landscape, ultimately increasing the efficiency, agility and innovation of supply chains. Read how blockchain can solve logistics inefficiencies and 10 benefits of blockchain in logistics.

The Rise of AI in Logistics

The ever-expanding field of artificial intelligence (AI) is leaving an indelible mark on every industry, logistics included. With its ability to rapidly make sense of massive data sets and automate operational processes, AI is transforming the movement of goods and creating competitive advantages for business supply chains across the globe. Read about 3 ways AI is transforming logistics management.

10 Ways to Optimize Your Freight Shipments and Save

Consulting company Capgemini recently surveyed a group of logistics and shipping managers and found “cutting transportation costs” to be one of their top challenges. While many shippers naturally look for ways to reduce rates, there is also a broad range of optimization tactics logistics managers can employ to help their businesses realize sustainable long-term savings. Read about 10 shipping optimization tactics you can apply today.

4 Guidelines for Navigating Cargo Freight Claims

Today’s freight industry runs at rapid speeds to meet customer delivery demands. One event that can disrupt the flow of your freight management operations and supply chain is damaged or lost cargo. The majority of shipments are picked-up and delivered on-time and intact, but knowing what to do and who to contact if you need to file a freight claim can be a key differentiator to minimizing downtime. Read about 4 freight claim guidelines that will keep your supply chain operating efficiently.

Trends Impacting Your Logistics Operations in 2018

The logistics industry is evolving, bringing both risk and opportunity to corporate supply chains. Government regulations, the driver squeeze and a healthy GDP have created challenging capacity and rate conditions. The booming e-commerce space and demand for operational efficiency continues to amplify the need for increased automation and technology. Read about three macro trends impacting the freight community.

7 Advantages to Outsourcing Logistics

Today, ninety percent of Fortune 500® companies rely on 3PLs for outsourced logistics and supply chain services, according to an Armstrong & Associates report. Whether you’re a B2C or B2B company, how promptly and efficiently you react to customer orders has a direct bearing on customer loyalty, retention and earnings. Read how outsourcing non-core functions like logistics allows you to focus entirely on what you’re great at: growing and building your business.

Is Your 3PL Adding Value or Just Taking Orders

Companies are putting more emphasis on logistics due to the impact it has on customer loyalty and earnings. At the same time, logistics costs are increasing and transportation management is becoming more complex, digitized and fast-paced. To combat these complexities, companies are looking for logistics service providers that do more than simply book shipments and take orders. Read about how 3PLs that are solution-focused can solve logistics challenges and add value to your supply chain.

Learn how a 3PL can drive overall cost savings and efficiency into your supply chain. Call 866-275-1407 or Contact Us

Companies are putting more emphasis on logistics due to the impact it has on customer loyalty and earnings. At the same time, logistics costs are increasing and transportation management is becoming more complex, digitized and fast-paced.

To combat these complexities, companies are looking for logistics service providers that do more than simply book shipments and take orders. 3PLs that are solution-focused and can solve logistics challenges are pivotal to adding value to a company’s supply chain.

What to Expect from a Solutions-Focused 3PL

Solutions-focused 3PLs move businesses beyond freight transactions, helping them evolve and think strategically about logistics and transportation management. The difference between a transactional and solutions-focused 3PL is like vacation planning. If you’re taking a week-long vacation to Disney World, do you show up at the entrance your first day to buy tickets and book a hotel room, or do you plan in advance to secure the best prices and terms?

The same goes for logistics and freight. If you buy at the last minute, you’re paying a premium on the spot market. Thinking long-term and holistically helps you predict demand so you can secure cost-effective contracts at competitive rates. Solutions-focused 3PLs help you plan, strategize and purchase your transportation in a consultative, collaborative and data-driven way.

A solutions-focused 3PL will provide the following value-added services:

We encourage you to look beyond your freight planning as a series of independent transactions to a well-thought strategy, which will help you become more efficient, improve performance and save money.

Learn how a solution-focused 3PL can drive overall cost savings and efficiency into your supply chain. Request a logistics and freight needs analysis: call 855-444-6608 or contact us.

Did you know that paperwork—bills of lading, certificates of origin, invoices and insurance policies—accompanying most large shipments of goods, accounts for one-fifth of the total transportation costs? Imagine if you could do away with paperwork by digitizing the information and “beaming” it into the cloud where all involved parties could access it any time.

That’s the promise of the blockchain, a technology we’re investing in at GlobalTranz. Wired magazine notes supply chain and logistics transaction documentation to be “one of the potentially most compelling use cases for blockchain technology.” A plethora of startups—as well as major companies like IBM and Walmart—are betting that the technology will change the way goods travel around the world.

A recent Wired magazine article follows the path of a container of avocados from India to the Netherlands that “involves dozens of people and businesses.” In this scenario, reports Wired, “Farmers need to drop off the avocados, boats need to pick them up, regulators need to sign off on the container’s contents, and someone needs to make sure that the fruits haven’t gone bad. Most of these handoffs and communications are still done via analog technology.”

Up to 30 different parties are involved in shipping this one container of avocados. Blockchain technology can digitize the stacks of paperwork that accompany supply chain transactions and push it all to the cloud, where key information is visible to stakeholders within the supply chain. Notes Wired, “That system might live inside a mobile app, and involve other tech, like QR codes, cameras, RFID chips, or internet-connected sensors.”

Smart Contracts and Proving Provenance

The blockchain is a distributed ledger that digitally records transaction history between parties. Information gets stored in blocks of data that are “chained” together. Each data block added to a chain is digitally unique and encrypted with a date/time stamp and key, which makes it unalterable. Information in a blockchain can’t be hacked or counterfeited and is immediately “trusted,” and therefore, accepted by anyone with access to the related blockchain.

This essential trust element is what makes blockchain technology ideal for executing what is known as “smart contracts.” For example, notes Wired, “When that shipment of avocados reaches the port in Amsterdam, it could automatically trigger a payment to the shipper back in India. Smart contracts could also be used to handle the required paperwork since they’re more secure than an emailed PDF and cannot be easily manipulated.” Smart contracts can be enormous time and money savers.

Blockchain tech can also detect fraud and help shippers guarantee the provenance, or authenticity of products. Provenance ensures that every shipped good includes a digital “passport” that proves its authenticity. These so-called passports include essential data such as where and when the product was manufactured and what steps it took throughout its journey.

Future Blockchain Standards Are Essential

Blockchain technology has the potential to drive efficiency, visibility and cost savings into supply chain and logistics management, but full-scale adoption is only possible if we have standards.

Today, BiTA (Blockchain in Transport Alliance) is the vanguard leading blockchain standards creation in the transportation and logistics industry. BiTA is actively working with its members (GlobalTranz is a founding member) investigating use cases and developing a common framework for which the logistics industry can build revolutionary blockchain applications.

Read the complete Wired article for more insights into how blockchain technology will help transform logistics.

Learn more about Blockchain in Logistics.

Deep learning, machine learning and AI

Technologies such as deep learning and artificial intelligence are quickly transforming entire industries, including logistics. Consulting firm McKinsey even says deep learning could one day become “the secret sauce in many different business processes.”

A recent article from the Financial Times shines a light on deep learning, a technology that offers tremendous potential for supply chains and manufacturing. The term itself “refers to the use of artificial neural networks to carry out a form of advanced pattern recognition. Algorithms are trained on large amounts of data, then applied to fresh data that is to be analyzed,” says Richard Waters, the article’s author.

Think of deep learning as a subset of machine learning—a technology GlobalTranz employs within its TMS and other supply chain systems. According to Forbes, “Machine learning takes some of the core ideas of artificial intelligence (AI) and focuses them on solving real-world problems with neural networks designed to mimic our decision-making. Deep Learning focuses even more narrowly on a subset of machine learning tools and techniques, and applies them to solving just about any problem which requires ‘thought’ – human or artificial.”

The Power of Deep Learning in Logistics

One of the most common applications of deep learning and machine learning is an area called predictive analytics. Within the GlobalTranz TMS, deep learning technology is used to help shippers make better decisions. For example, if you’re looking at lane planning, a traditional analytical model would look at a fixed set of assumptions. Analytics based on deep learning can consider dynamic attributes like weather or traffic and self-evolve over time to recognize patterns that humans would not see.

We also use deep learning to help companies track financial forecasts, pace and flow of production, and order processing. These data points, combined with insights into carrier capacity and performance, allow companies to answer questions like, “How many more orders can we service within budget for a given set of lanes? Or how much can we increase manufacturing without going over our freight budget?”

In other areas of the supply chain, experts see more uses of deep learning in: “predictive equipment maintenance, yield optimization, procurement analytics and inventory optimization,” says Mr. Walters, Wired Magazine author.

Companies that are quick to adopt deep learning technologies could also reap gains in value. McKinsey says, “Depending on the industry, the value a company could gain from applying this technology could range from one to nine percent of revenues.”

How Can You Get Involved Without Spending a Fortune?

The good news is for you to take advantage of these emerging, cutting-edge tools, you don’t have to buy the technology. Instead, partner with a 3PL that owns a robust TMS with integrated deep learning and machine learning capabilities. GlobalTranz’s TMS gives users the capabilities they need to employ this nascent technology and deliver more informed suggestions that help automate logistics decisions and drive supply chain efficiency.

 

Learn how you can start using machine learning and deep learning technology in your logistics operations, call 866-275-1407 or Request a TMS Demo.

PHOENIX (June 5, 2018) —(BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that it has selected The Jordan Company, L.P. (TJC) as its new equity partner. TJC has signed a definitive agreement to acquire 100% of GlobalTranz from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, Susquehanna Growth Equity, Volition Capital, Savano Capital Partners, and other investors. The transaction is expected to close within 45 days.

TJC has a long history of partnering with management teams to help build businesses through a combination of strategic investments to drive organic growth and acquisitions. “We are extremely impressed by what the current management team and employees have accomplished in building GlobalTranz into a world-class business,” said Brian Higgins, Senior Partner, The Jordan Company. Higgins added, “GlobalTranz is a very strong fit with our existing portfolio companies and we expect to leverage our experience in the logistics space to help management continue to grow the business.”

“I am excited to have TJC as our new owners,” said Bob Farrell, chairman and CEO of GlobalTranz. “I would like to thank Providence, Susquehanna, Volition and Savano for their support, guidance and governance. The collective and collaborative hard work by everyone on the GlobalTranz team has allowed our existing investors to realize a strong return while concurrently positioning the company well for the next steps in its evolution.”

Ranked the 10th largest freight brokerage in the US by Transport Topics, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and services and superior customer service delivered by the best people in the industry.

“Our new partnership with TJC will allow us to keep doing what we are doing – driving execution, building differentiated solutions and technology, being a 3PL of choice for all our carriers, providing superior customer service and being a strategic partner to our customers. TJC will allow GlobalTranz to continue its market leadership and scale to the next level. There is no other team in our industry like ours and together we will continue to drive unique success. I look forward to the days ahead,” added Farrell.

GlobalTranz was advised by Harris Williams & Co. and Weil, Gotshal & Manges. The Jordan Company, L.P. was advised by Kirkland & Ellis LLP.

For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.

About The Jordan Company, L.P.

TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 35-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation and Logistics, Healthcare and Consumer, and Telecom, Technology and Utility. The senior investment team has been investing together for over 20 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL.

MEDIA CONTACT:
Annie Graupner 612-229–4040
communications@globaltranz.com