LTL shipping: Rating is a complex equation
Authored by SMC³ on October 3, 2018
The concept of shipping goods across the country is simple, right? But companies sending goods across the country that don’t have enough freight to fill an entire truckload must engage in a complex, but integral, part of trucking transportation. LTL (less-than-truckload) shipments can be a small portion of overall freight for shippers, but making sure LTL shipments are rated correctly, sent expeditiously and arrive at their destination undamaged, takes care and attention.
The first part of this equation, LTL rating, almost requires the outside assistance of a technology provider. In the world of LTL shipping, there are thousands of price combinations built upon hundreds of carrier base rate systems. The unpredictability of lane-by-lane shipment pricing can be enough to cause even the most seasoned supply chain professional to miss opportunities for savings. This is why shippers and 3PLs need neutral, third-party LTL tools that provide apples-to-apples comparisons among myriad providers, empowering customers to select the best carrier for the job, every single time.
Shippers, 3PLs and carriers are more focused than ever on optimizing their LTL operations and getting more strategic about the carriers and providers that they’re partnering with. Partnership is the right word here because shippers no longer see the relationship with carriers as a necessary evil – or an adversarial undertaking – but as a quasi-collaboration. Without the right technology, it’s nearly impossible to drive the complexities out of the LTL shipment lifecycle and optimize this relationship. SMC³ solutions help connect shippers with the optimal carrier for their needs based on qualities like price and customer service.
SMC³’s rating software, RateWare XL, can return single rates in milliseconds, but it also enables customers to batch rate, returning rates at a speed of 60,000 shipments per minute. Contact sales@smc3.com to learn more.