One of the largest cost drivers for an organization is their management of supply chain, the system accountable for moving a product or service from supplier to customer. For large institutions that move goods in and out on a large scale, a small adjustment in the cost of shipping can have a massive financial impact across the entire supply chain. Vantage Point Logistics (VPL) in Columbus, Ohio, is helping large institutions such as hospitals and universities, save money using technology to boost the efficiency of their freight systems.
“Organizations are faced with a decision to use an expensive third-party logistics company or to try to do it themselves with spreadsheets and costly manpower. We offer the solution, which is a technology that simplifies everything and allows them to handle it in-house,” said Don Carroll, VP of Business Development at Vantage Point Logistics. “Using years of aggregated data, we can manage their carriers, tell them how to ship, and expedite invoicing by accurately allocating their shipping charges.”
Carrier price, number of managed vendors and mode (road, rail, air, etc.) optimization are factors traditionally examined by organizations when trying to improve their margins. In addition to these factors, VPL recognizes that significant savings can come from identifying and eliminating operational inefficiencies along existing processes. VPL finds the best rate among major carriers, ensures compliance by monitoring shipments from Point A to Point B, and automatically invoices charges to give clients a clear view of their costs and help them make more informed decisions about their business.
“The bottom line is that this technology uses advanced data and analytics to provide them a better view of their own supply chain so that they can make better decisions to drive down their costs,” said Carroll. “Our software saved a client over 400 hours of staff time previously spent processing their outbound shipping carrier charges. Those are enormous costs. We estimate a potential 35-40% savings with VPL.”
The company is growing rapidly and was just was named the third fastest-growing company in Ohio and 117th overall in the U.S. They recently outgrew their office space at Rev1 Ventures, a central Ohio regional partner of Ohio Third Frontier, where the company has grown steadily since 2012 and received business mentorship, access to like-minded entrepreneurs and financial support. The quickly-expanding company, which reported a 3,400 percent growth over the last three years, now occupies a 9,100-square-foot office.
“We’re flying the coop. We’re leaving the nest. Over time, we became the largest tenant at Rev1 and we’ve grown to where it makes sense for us to take up our own office space. But we would not be where we are today without the phenomenal support we’ve gotten from the startup community here in Ohio. We have willing investors, access to talent from excellent universities, experienced mentors, and an overall hospitable climate for business. We’re really excited for what the future has in store for VPL in Ohio.”