The trucking industry has a significant challenge—knowing which customers and accounts are most and least profitable. Having this information can empower carriers to move freight more efficiently and cost effectively, which thereby improves the bottom line. This challenge took center stage at a recent TCA webinar where participants from SMC3 and XTL Transportation Inc. discussed how to make better business decisions through activity-based costing. When asked how carriers do costing today, the vast majority of the attendees said they rely on team member experience and knowledge.

Shippers, 3PLs, carriers and other clients are the foundation of SMC³. The company creates innovative logistics technology solutions to help these groups optimize the LTL portions of their supply chains through tools that offer unrivaled shipment visibility, transit-time information and freight rating power.

It’s safe to say August was a turbulent month for the less-than-truckload (LTL) industry in the wake of one of the most dominant carriers shuttering operations. Other carriers have picked up the overflow and seeing a spike in daily shipments; 30,000 impacted truck drivers are searching for new jobs; and shippers are navigating a new, uncertain freight landscape.

As weather-related events become more common, what are the chances that freight embargoes could disrupt a somewhat upbeat outlook?

For years, less than truckload shippers and 3PLs have been gathering volume LTL rates the hard way. Due to a lack of options, when their shipments fit the parameters of a volume LTL move, these transportation users have had to get on the phone to query numerous carriers about their volume LTL pricing, sending countless emails back and forth.

As fuel prices continue to fluctuate, carriers are looking more closely at the weights being disclosed on the bills of lading versus what is arriving on their docks. When they do not match up, carriers often issue a Weight and Inspection (W&I) certificate to account for the discrepancy—which means unexpected costs for the shipper. In this SMC3 LTL Online Education session, we discuss this important process, the potential impact of incorrect weights, and how to navigate to prevent issues. Rick Wey, director of weight and research, retired, and Paul Dugent, executive director of the Digital LTL Council, NMFTA, shared their insights on this weighty topic.