A robust Transportation Spend Management process ensures the cost-effectiveness and consistent quality your life sciences supply chain management needs to successfully deliver shipments to the right destination, at the right time, and in the right condition.

Benefits for life sciences supply chain leaders

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Greater
Visibility
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Ensured
Compliance
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Complete
Control
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Heightened
Quality
Greater Visibility
Gain enhanced visibility into performance and cost drivers throughout your complex life sciences supply chain. You’ll see issues before they arise, and increase the safety of your shipments. Trax’s carrier management and other offerings help you navigate obstacles, such as evaluating carriers’ driver security requirements or the ability to ship to sanctioned countries.
Ensured Compliance
We help circumvent issues, such as government agency audits or inaccurate packlists and invoices that could stall your shipments and reduce product efficacy, hurting your customers and budget. Ensure total data and policy compliance through Trax’s vigorous life sciences Transportation Spend Management optimization.
Complete Control
Meet your goals. Whether you need to optimize efficiencies to get your important shipments out the door and in customers’ hands faster, streamline your data, or increase cost reductions, Trax can help you gain end-to-end control of your life sciences supply chain.
Heightened Quality
Deliver quality to your customers. With Trax’s top-tier data management, carrier management, and other tools, you have trusted data to make quick and informed decisions about your life-saving shipments without compromising cost. Biopharma companies trust Trax with their critical data at every stage of the supply chain.
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Selected as an Inbound Logistics Top 100 Logistics IT Provider for 2020, a Supply & Demand Chain Executive Pros to Know company, and Hot Company by Parcel Magazine.

Solutions for the life sciences industry

Freight Data Management
Financial Management
Carrier Management
Transportation Optimization Programs
Tier 1

Freight Data Management

Confidently manage international transportation including freight audit, rate management, carrier payment, and data and policy compliance with operational and data quality controls for your network.

Freight Audit
Rate Manager
Match Manager
Data Compliance Manager
TraxPays
Freight Audit

Freight Audit

Trax audits to contract, validates for compliance, and processes your freight bills for payment for all global modes of transportation. Utilize freight audit as the stepping stone to maturing through Transportation Spend Management and obtaining a fully optimized global supply chain.

  • Ship to any global location, with the right carrier, using any currency.
  • Ensure your shipping invoices match your contractual rates, as well as your packlists so your life-saving shipments don’t stall at port.
  • Free up your internal resources to help grow your business so you can create medicine, cure diseases, and make the world healthier.
Rate Manager

Rate Manager

Optimize your rate and spot quote management across different modes and geographies, and capitalize on advanced, real-time visibility into available and expiring rates. Our easy-to-use platform allows for side-by-side comparisons of rate submissions and approvals, so you can easily see which rates and details meet your requirements.

  • Use real-time data to quickly lock in cost-effective contract or spot quote rates, ensuring customers continue to receive your critical products when they need them.
  • Ensure rate compliance, and uncover compliance variance, by lane, carrier, and location throughout your complex life sciences supply chain.
Match Manager

Match Manager

Deliver consistent value to clients. Our Match Manager provides end-to-end insight into the performance of your supply chain and controls your transportation costs. It enables matching invoices to other data sets for audits, allocation, risk management, and reporting.

  • Control your spend with higher visibility into all areas of your complex life sciences transportation spend, from shipment estimates to invoice payments.
  • Align supplier- and freight-oriented data to choose the most cost-effective shipping options to get your life-saving products to customers.
Data Compliance Manager

Data Compliance Manager

Collect, clean, and standardize diverse datasets from various systems into one central platform, reducing manual processes and mitigating risks of human error.

  • Check for policy compliance, such as shipping conditions for products affected by humidity, pressure, temperature, and more.
  • Ensure carrier data meets the requirements for various government agency audits, reliable analytics reporting, and freight auditing.
TraxPays

TraxPays

Pay thousands of invoices seamlessly and effortlessly. Avoid manually paying and tracking hundreds of vendors through thousands of transactions, all while maintaining complete carrier-level payment data visibility.

  • Let experts handle the various currencies, country- or region-specific restraints and conditions, and more that are involved with your global life sciences supply chain.
  • Increase your cash flow by holding onto cash longer, while avoiding late fees and strengthening your relationships with carriers.
Tier 2

Financial Management

Financial Management was built to help your organization create greater returns and profitability. You'll get visibility into higher quality data, enabling you to be more confident and efficient in financial management. Avoid surprises and accurately budget, allocate, and accrue for logistics expenses. The end result is cost savings, transparency, efficiency, and risk management.

Accrual Manager
Claims Manager
Budget Manager
Accrual Manager

Accrual Manager

Achieve full control over transactions from the time of shipment. Access reports for real-time visibility into match rates and accrued versus actual variances, giving you accurate insights into your financial commitments before invoices arrive.

  • Eliminate inconsistencies or incomplete estimates so you can avoid locking up funds that could be used to better serve your customers.
  • Centralize your data for accrual estimates, rates, and historical accruals (including accessorials) for more detailed accrual reporting, helping you to optimize efficiencies, simplify processes, and deliver products to customers faster.
Claims Manager

Claims Manager

Let Trax manually file claims, investigate incidents, and resolve issues on your behalf so you can focus your internal resources elsewhere.

  • Account for variances in submission and speed up claims so you can increase cash flow to continue delivering your important products to customers.
  • Reduce and mitigate losses from carrier issues that arise with your expensive shipments, so your customers consistently receive high-quality, reliable products.
Budget Manager

Budget Manager

Compare your supply chain spend performance to your annual, operational, and business budgets in real time.

  • Manage your budget in real time to easily make quick decisions impacting the integrity of your time- and temp-sensitive shipments. 
  • Create a solid baseline budget, with the visibility to compare forecasts versus actuals. 
  • Uncover cost reduction opportunities that aren’t always easy to otherwise see underneath the complexities in life sciences supply chain.
Tier 2

Carrier Management

The power of Carrier Management services lies in the ability to go beyond recovery. This service works collaboratively with shippers and carriers to identify the root cause and install corrective actions to improve future performance. This means that you, as the shipper, quarter over quarter and year over year, realize cumulative gains in performance, data quality, and financial acuity.

Carrier Management Services
RFx Manager
Performance Manager
Carrier Management Services

Carrier Management Services

Create a profitable—and symbiotic—relationship with your carriers. Revel in better carrier performance, higher value delivered to your customers, and reductions in risk and cost.

  • Increase visibility to ensure your life-saving shipments are delivered to the right location, at the right time, and in the right condition.
  • Boost data quality and maintain high carrier performance, in spite of the complexities that your global life science shipments face.
RFx Manager

RFx Manager

Conduct smart bid management. Issue RFPs on bids for new rates, evaluate responses on bids, analyze what-if model responses, and accept bids on rates across diverging rate dimensions, carriers, and locations.

  • Issue RFPs customized to freight needs, such as temp, humidity, pH, and other shipping conditions.
  • Centralize bids in a simple-to-use platform for contractual rates and spot quotes, across multiple carriers.
  • Gain visibility into cost reduction, quality, and more to identify the best carriers for your complex supply chain.
Performance Manager

Performance Manager

Attain unparalleled visibility into carrier performance through data-driven analytics. This centralized information hub helps you make the best decisions related to carriers, based on your needs.

  • Customize carrier scorecards to assess necessary KPIs, such as dual driver security, cold chain shipping measures, port delay mitigation, and more.
  • Maintain quality throughout shipping with real-time insights, and negate losses or damages to your life-saving shipments.
Tier 3

Transportation Optimization Programs

Enjoy access to our team of seasoned Transportation Spend Management experts who can help you optimize your supply chain management performance and dominate the market.

  • Gain the benefit of our experience, as we’ve worked with six of the top 10 Life Science companies.
  • Receive guidance through challenges like tariffs, shipping to sanctioned countries, navigating multiple government agency audits, and more.
  • Learn how to turn challenges into advantages over the competition.

Some of our customers

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Trax helped us identify and
resolve
our transportation risk

"I’ve always believed that data is one of the most critical pieces used in making decisions. The solid reporting capabilities and platform that Trax provides, has been extremely important to our business routine and used for several high profile projects."

Related resources to keep you informed

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Overcoming Challenges In Life Sciences Transportation Spend Management

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See how we can help you achieve global spend management maturity. Contact us today!