Chainalytics, a recognized global leader in supply chain consulting, analytics and market intelligence, announced that its coverage of freight movements within the European Freight Market Intelligence Consortium has doubled in size since the newest model’s initial release in February 2014.
Over the last year, the European FMIC has grown to include 2.2 million pan-European, cross-border, intermodal and domestic loads annually. Since inception, the European model’s scope has been expanded to include freight market data for ambient and temperature-controlled loads and freight movements extending into and between Turkey, Russia and CIS countries.
“Membership in the European FMIC provides companies with detailed results enabling them to identify quick-wins and long-term improvement opportunities on a detailed level,” stated Gary Girotti, EVP of Global Supply Chain Intelligence at Chainalytics.
“The FMIC suite of tools provides the ability to analyze results by lane, by carrier, by business unit or division, and includes customizable company-specific dashboards. This unprecedented granular-level of detail and transparency into transportation markets enables members to dissect complex transportation networks, minimize disruptions in their operations, 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 market intelligence, actionable insights and comparative analysis enabling members to improve supply chain operations and elevate the role transportation plays within their organization. The econometric cost model quantifies the effects of several underlying cost drivers, such as origin-destination, equipment type, and 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, accounting for each shipper’s fuel programs, operational factors and accessorials. A wealth of additional insight is provided by identifying the impact each unique cost driver has on an individual’s transportation rates, enabling each member-shipper to understand exactly how service requirements and business restrictions specifically impact 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 approximately $23 billion in freight spend is analyzed – across all major industries and modes of transportation to help more than 150 member companies understand current and future freight market dynamics.
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. To learn more, visit www.chainalytics.com
