Ward Transport & Logistics built its reputation on what the company calls “Ship the Ward Way”—decades of operational discipline, service and consistency that have helped establish the company a widely respected LTL carrier. For nearly 30 years, Ward relied on its own internally developed costing system, an activity-based model that provided an accurate, detailed understanding of costs across the business.

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.