Bid or the Ask Price

Much like the age-old “chicken and egg” debate, we may never know how the very first load appeared on a load board. Did the shipper post an asking price? Did a carrier post a bid to win a load?  But one thing is certain: Shippers and carriers need to move quickly. If a load is posted with a price and avoids back-and-forth negotiation, carriers will swoop in to pick it up. In fact, loads posted with an asking price on load boards are typically booked five to 10 times faster than those without an asking price. Low-balling a price is risky, because it could risk delaying a shipment, as carriers pick up more competitively priced loads. While it may be tempting for shippers to gamble for the best price, it’s not always the best practice in a fast-moving industry. That’s why it’s pivotal to provide transparent pricing on loads, to ensure your goods get to their destination quickly, securely, and at the right price. Modern technology and real-time pricing information are key, so … [Read more...] about Which Came First: The Bid or the Ask Price?