According to the U.S. Department of Transportation, the value of freight moved is expected to increase from $882 per ton in 2007 to $1,377 per ton in 2040. Many of this freight can be attributed to e-commerce freight: in fact, U.S. e-commerce revenue is about $423.3 billion and is steadily climbing. Whether it’s full truckload, less-than-truckload (LTL), or parcel, carriers are being forced to adjust to changes in the retail industry. Load boards are a newer innovation of transportation broker software, and before you start using any of the various types of load boards, it’s important to understand how to make the most of their innovation and overall efficiency. With that in mind, here’s a quick FAQ to help you get started learning about load boards.
What is a load board?
First, it’s important to realize that 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. That being said, load boards are solely for truckers, and they’re an essential tool that helps truckers to find loads.
How do load boards work?
Typically, the process starts when companies use load boards to post a list of the freight they need to be shipped. From there, truckers can find the loads they need to carry. In a sense, load boards can be considered as an online marketplace or bidding site for truckers.
Are load boards free, or do they cost money?
Costs vary when it comes to load boards. Some are completely free, while others charge a fee based on certain criteria. Before determining that load boards may or may not be right for you, consider costs carefully. However, experts generally agree that using multiple load boards yields the best results.
Ultimately, nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the transportation network, and understanding how to use the different types of load boards effectively is the key to making the most of your potential as a non-asset based freight broker. For more information about load boards and other shipment tracking integrations, contact 3PL Systems.