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What is Parcel Spend Management?
Parcel Spend Management (PSM) is a Big Data technology solution for gaining analytics and increased visibility into your parcel network as it relates to spend.
GMT’s own PSM solution combines a best-in-class parcel audit system with intelligent parcel spend analysis software to identify network opportunities and assist with contract management.
How is this helpful? Through PSM, we partner with our customers to become an extension of their transportation team. It’s critical to note that we act as a strategic partner, working to identify and understand each customer’s parcel network goals and objectives. We then utilize Big Data and our proprietary software to systematically and effectively suggest and implement steps to reach those goals, such as expedited shipping and mitigating costs.
The PSM Foundation
Our PSM solution is often tailored to the individual needs of our customers – that’s because each parcel network has its own level of complexities and needs, as well as unique brand strategies driving the business. Should every business offer Same-Day or Next-Day delivery? Will every business need a regional carrier? Does every business have multiple distribution centers? No, of course not.
The key to PSM is striking the right blend of personalization, flexibility, but also methodology. While our PSM solution may look different from business to business, there are a few key foundational pieces that comprise our unique solution:
- Data Collection
- A Best-in-Class Parcel Audit
- Contract Management
- Business Strategy and Network Optimization
Visit our solutions page to learn more about GMT’s PSM solution.
Recent Resources
3 Parcel Strategies that Major Retailers are Leveraging to Mitigate Carrier Capacity Constraints
Carrier capacity issues abound in this new COVID-19-impacted parcel industry, but we've identified three successful and creative strategies some of the largest brands are implementing to maintain their customer commitment.
Parcel Carrier Contract Negotiation Amidst a Global Pandemic
In 2020, shippers across the world are finding that negotiating their parcel carrier contract is unlike contract negotiation during any year prior – largely impacting those wanting to diversify their carrier network through this strategic means.
The Ins and Outs of Expanding Your Carrier Base: 5 Key Questions to Ask
Before bidding out volume to a regional carrier, certain characteristics of the supply chain should be evaluated. Here, we’ll highlight five specific characteristics or network components that should be considered before selecting a regional carrier.
INFOGRAPHIC: How COVID-19 is Affecting the Parcel Industry
Novel coronavirus (COVID-19) has impacted the global supply chain, disrupting industries around the world. Just like their customers, carriers are not immune to the negative impacts of COVID-19.
7 Inefficiencies That Could Be Slowing Down Your Supply Chain
An efficient supply chain is one that meets customer expectations in a cost-effective manner. With two-day delivery (or less) becoming the retail standard for customers, balancing cost and customer service is no small feat.
Parcel 101 Video Series: Parcel Spend Management
GMT'S COO, Mike Lambert, explains why Parcel Spend Management is vital for today's parcel shipper.
PANEL: Managing Supply Chains In A Crisis
GMT's own Strategic Solutions Manager, Ron Taylor, joins Johnson & Johnson, Salem Health, and GE Healthcare to discuss a variety of supply chain challenges and trends all brands face during times of crisis.
Leading Insights From GMT's Annual Parcel Benchmark Report
GMT's own Director of Operations, D. Aaron Guild, and distinguished faculty fellow from UT GSCI, John Lebowitz present takeaways and insights from our 2020 Benchmark Report.
Transportation Trends and the Impact of COVID-19
Insights from GMT's annual Benchmark Report. Featuring Chris Johnson, Senior Analyst at Cleveland Research Center.
