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
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
Finding the Best Freight Rates Shouldn’t Require a Crystal Ball: Three Strategies to Demystify the Truckload Rating Process
A new invention is out on the market: a supply chain crystal ball, which shippers can look into and see freight demand, capacity, and rates of the future … ah, if only! Seeking out the best freight rates is often easier said than done. Everything from market volatility to fluctuating demand to variable carrier capacity can make finding the best freight rate a daunting task. A crystal ball certainly seems like a solution to the problem. But psychic tools aren’t needed to make it easier to find the best freight shipping rates. There are plenty of ways to demystify the truckload rating process, with tools that navigate the ups, downs, and sideways of the trucking market. The Complexity of Truckload Rating Day to day, markets can fluctuate rapidly. One moment, freight capacity might be swiftly flowing and readily available. The next moment, a natural disaster hits, carriers redirect their capacity to relief efforts, and shippers are left with a market of tight supply and … [Read more...] about Finding the Best Freight Rates Shouldn’t Require a Crystal Ball: Three Strategies to Demystify the Truckload Rating Process
How to Make Your Data Work Harder: Farelanes delivers REAL Pricing in Real-Time
Supply chain professionals, always on the hunt for the best freight rates, have enjoyed a shipper’s market for months — but the glory days won’t last forever. Trucking rates are slowly beginning to climb. In this recovering market, it’s more important than ever for shippers to find optimal shipping rates. However, finding the best rates can be challenging as shippers grapple with fluctuating demand, capacity constraints, and market dynamics. The solution? Let your data work for you, using real-time analytics to find the best freight rates. Survival of the Smartest Shippers Several indicators suggest the trucking market is on the road to recovery. ACT Research predicts shippers will bolster safety stock to combat disruptions surrounding the Red Sea and Suez Canal. Imports are rising, and demand for trucking to move those goods will likely follow. The Cass Freight Index shows rates rose slightly from February to March, and trucking … [Read more...] about How to Make Your Data Work Harder: Farelanes delivers REAL Pricing in Real-Time
