The market for LTL shipments is estimated at approximately $35 billion. With that in mind, there’s no denying the major role that technology continues to play for non-asset based freight brokers’ transportation and logistical needs. According to CCJ Digital, businesses everywhere are finding increasingly innovative methods to resolve complicated logistical problems and optimize efficiency of freight transactions with other carriers.
If you’re a non-asset based freight broker, you should be aware that there are many options regarding freight management software to improve efficiency. Here are just a few types of technology helping to expand the amount of growth within the LTL shipments and full truckload shipments sector.
First, many third party logistics providers are increasing their business just by providing shippers with immediate pricing plans in addition to booking tools designed for spot market freight movements. Some even provide these prices through data inputs from public sources, for example, weather databases. They’re also sometimes acquired using private sources. Still, with proper tracking, pricing can become optimized and more accurate than ever.
Increased Freight Transparency
In addition to quicker and more efficient pricing models, many technologies have tools to make the process of locating a shipment easier than ever.
“A number of technologies can locate shipments by using cell-tower signals, GPS from drivers’ phones and from telematics systems to eliminate manual “check calls” to drivers to update the status of loads…Whether or not a transportation company has its own fleet, they can expand their value to shippers by providing seamless visibility to all shipments, for example, no matter whose assets are powering the loads,” writes Aaron Huff on CCJ Digital.
Trucks carry the largest share of freight by value, tons, and ton-miles for shipments moving 750 or fewer miles. Rail, on the other hand, is the dominant mode by tons and ton-miles for shipments moved from 750 to 2,000 miles. By investing in a freight management software that has these capabilities, you’re ensuring improved efficiency and overall operations. For more information about the many types of freight management software, contact 3PL Systems.