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The Farelanes Guide #2: Leveraging Analytics to Find the Best Freight Rates

Nailing down the best freight rates is critical, yet challenging. The volatility of the freight market and the intricate negotiation processes between shippers, brokers, and carriers create a complex freight pricing environment for shippers. But finding the right freight rate is paramount to maintaining efficient operations and a healthy bottom line.  That’s why Farelanes has introduced a three-part guide to helping shippers find the best freight rates.  After laying out the challenges in part one, this second part of the guide looks at exactly how shippers can use analytics — specifically, three types of analytics and modeling tools — to optimize freight pricing. With analytics, shippers can find “the” right freight shipping rates, instead of simply settling on “a” freight rate.  Major Roadblocks Stand Between Shippers and the Best Freight Rate Freight shipping rates are full of complexities, with myriad factors creating fluctuations in supply, demand, and … [Read more...] about The Farelanes Guide #2: Leveraging Analytics to Find the Best Freight Rates

The Farelanes Guide #1: The Challenge of Finding the Best Freight Rates

Nailing down the best freight rates is so critical, yet so challenging. The volatility of the freight market, the lack of transparency in freight pricing, and the intricate negotiation processes between shippers, brokers, and carriers all add up to create a complex freight pricing environment for shippers. But finding the right truck freight rates is paramount to maintaining efficient operations and a healthy bottom line.  That’s why Farelanes is introducing a three-part guide to helping shippers find the best freight rates.  In this first part of the guide, we’ll take a look at the obstacles standing between shippers and the best freight shipping rates for their businesses.  The Challenge of Finding the Right Freight Rate Freight shipping rates are full of complexities. The freight market can go up and down in the blink of an eye. Carrier capacity is unpredictable and can change dramatically due to a geopolitical event, a natural disaster, or even a sudden … [Read more...] about The Farelanes Guide #1: The Challenge of Finding the Best Freight Rates

Freight Pricing Made Simple: You Can’t Trust Your Pricing Without Trustworthy Data

The famed “Meet the Parents” movie involves a circle of trust, in which one of the main characters attempts to win over his father-in-law and make it inside the circle. But trust isn’t only a concept for Hollywood films. Real-life relationships – from personal to business – are built on trust and maintained by continuing that trust. For shippers, creating a relationship with their brokers and carriers requires data for freight pricing that all parties can trust. Good quality and trustworthy data are the cornerstone of effective decision-making in freight pricing. This kind of data enables shippers to navigate market complexities with confidence and precision. Accurate, timely, and reliable data empowers shippers to optimize pricing strategies and enhance competitiveness in the dynamic freight industry.  Despite this critical need, shippers often struggle to access fair, clean, and reliable data. Market volatility, data inaccuracies, and opaque pricing methodologies present … [Read more...] about Freight Pricing Made Simple: You Can’t Trust Your Pricing Without Trustworthy Data

Freight Pricing at Your Fingertips: The Right Price Starts with the Right Solution

Fair, accurate, reliable freight pricing used to seem far out of reach and like a pipe dream for many shippers.  That’s no longer the case today, with solutions available in the marketplace that put freight pricing at your fingertips. The key is finding the right solution, ultimately leading to the right freight price.  For Today’s Shippers, Status-Quo Pricing Leaves a Lot to be Desired Shippers face myriad complexities and challenges in determining optimal freight rates. Market volatility, rapidly changing demand, and variable carrier capacity can cause freight rates to change in the blink of an eye. For example, fluctuating diesel prices can raise or lower freight trucking rates. On the capacity side, it’s cherry season in California, and shipping the fruit adds more than 20% of volume in the refrigerated trucking market — something shippers across several industries will need to take note of as they plan their freight shipments.  Shippers not only have … [Read more...] about Freight Pricing at Your Fingertips: The Right Price Starts with the Right Solution