LTL Rates and Pricing Patterns: What You Need to Know
Mar 6, 2019
One of the things that’s often a challenge for shippers is managing their LTL trucking rates. Why? Because all too often shippers fail to recognize and address how the LTL carriers have changed their pricing patterns.
Based on conversations we have been having with senior level executives from the major LTL carriers, we know that one of the consequences of the Perfect Storm has been a significant change in pricing strategies. As one CEO told me, "We've abandoned a marketplace orientation pricing philosophy in favor of a targeted, or client specific, pricing philosophy." In this week's video, we explain the important difference between these two strategies. Instead of trying to grab as much freight as possible, the carriers are now focused on building business in desirable lanes and pricing undesirable lanes at a high premium. On top of this, events like the bankruptcy of NEMF in the northeast are causing sudden shifts in pricing.
If you could use help finding the best LTL rates, we encourage you to start by taking advantage of our complimentary rate benchmark analysis.
We also have several resources in our Transportation Market Storm Center where you can hear directly from LTL carrier executives such as Mike Cronin, Executive Vice President of Dayton Freight Lines, or Rob Estes, President and CEO of Estes Express.
Watch this week’s video to learn even more about managing your LTL freight rates.
We provide all of this because we’re on your team, here to help, and passionate about seeing you be successful in your LTL lanes and throughout your network.