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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.
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.
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Leading Insights From GMT's Annual Parcel Benchmark Report
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