Last week, we shared an interview we hosted with two LTL carriers that focused on how shippers can work with them best to reduce rates. This week, we’re building on that by sharing some insights about where the LTL industry is headed. This topic came up recently since the Colorado Business Roundtable asked us to share what we’re seeing in terms of trends for the future, and you can listen to the podcast here.
We talked about themes such as:
- Data. Shippers need to understand that carriers have data. Therefore, the better you are at working with your carriers, the better your rates will be. This is something that Rob Estes emphasized in our interview with him and Darren Hawkins.
- Visibility. Just as carriers are valuing data, so are progressive shippers. With the right technology, they can better prove compliance with OTIF types of programs. (One shipper said he had $3 million in penalties three years ago, but last year it had jumped to $24 million!)
- Precision Trucking. Lean orientations are demanding product is on time. Shippers need to know their product is going to be on time or if there will be a production disruption.
If you need help conducting a LTL or truckload sourcing event, or understanding your rates, we encourage you to get in touch. We’ve conducted billions of dollars worth of sourcing events and start by identifying whether or not there are opportunities for savings.
We provide all of this because we’re on your team, here to help, and passionate about seeing you be successful as you manage LTL freight.
