compare freight rates kuebix

Why You Should Be Comparing Your Full Truckload (FTL) & Less-Than-Truckload (LTL) Freight Rates

Logistics professionals have their work cut out for them just to get their freight to the customer on time without the added pressure to shop around to find the best deal. At least, that’s the case for folks who are still managing their freight operations in the old-fashioned way, with phone calls to carriers and spreadsheets to track loads. Companies that have already turned to transportation technology to help them optimize their supply chains can easily compare freight rates without wasting extra time.

Technology lets companies automatically pull in all their negotiated carrier rates side by side for easy viewing and comparing. Instead of needing to switch between vendor portals, logistics professionals have all their tariff information contained in one, user-friendly location. This means that they can choose the most attractive rate at the service level they need for every shipment.

Why Should You Compare Your Freight Rates?

Many shippers have carriers that they partner with over and over again, and those relationships can be crucial for the success of the delivery. But if you never get a feel for the market price on a particular lane, you could be vastly overpaying. By comparing rates, you can go back to your carriers to negotiate better terms. You may also discover cheaper capacity is available, helping you save money on total freight spend if you alter your processes for certain lanes.

By shopping around for different freight rates, you could also discover opportunities to deliver faster to your customers. Trends like the “Amazon Effect” are increasing customer expectations, namely the speed at which they can expect their deliveries. Even if you don’t discover freight savings when you shop around, you may discover ways to improve your customer satisfaction.

Another reason to constantly be comparing your freight rates is that prices are continuously changing. Diesel prices fluctuate, the driver shortage and capacity crunch alter carriers’ ability to service their customer base, and competition for capacity grows worse. What may have been the best price one day could suddenly be outperformed by another rate the next. Instead of doing a monthly or quarterly audit of tariffs, companies should be comparing their freight rates each and every time.

Comparing freight rates also allows logistics professionals to determine what mode they want to ship their product. This is particularly important for orders that could be either a parcel shipment of an LTL load. Many people wouldn’t consider shipping what they assumed to be an LTL load as a parcel shipment, or vice versa, though there could be significant savings. By using technology to display multiple mode options all on one screen, companies can be sure to pick the best price, no matter what mode is selected.

Using Technology to Rate Shop

Technology is the answer to this problem for most shippers. By leveraging a transportation management system like Kuebix TMS, companies can quickly view all their options and select the best one. This is like booking a flight online were each and every price and timeline is viewable. At Kuebix, we believe that logistics should be just as easy as booking a flight online. And by comparing multiple modes side by side, users get even more opportunities to save money and provide superior service to their customers.

load builder optimizer kuebix

Building and Optimizing Truckload Shipments with Technology

There’s increased pressure on logistics teams to build perfect truckloads and optimize every route. Freight costs are rising due to the capacity crunch and rising consumer expectations, so cutting freight costs is top of mind for many companies this year. But building the perfect truckload is a challenge for companies that are still manually building and routing their truckload with only the help of a spreadsheet and tribal knowledge.

There are countless factors to take into consideration such as delivery date, location, class, weight and size. Weighing all of these factors without the help of technology usually results in missed opportunities and wasted resources. Instead of pouring through spreadsheets and manually grouping orders onto a single truck, companies can leverage technology to build and optimize the perfect load every time.

Smart algorithms suggest combinations which make sense, save time and help companies achieve the lowest possible costs for their shipments, all while still adhering to pre-determined parameters. Users set the parameters for the truck they want to build, adding in LTL constraints, specifying single stop, pickup and delivery date, maximum capacity, or unit of measure, etc. This ensures that logistics teams still have the flexibility to make changes based on customer requests and other unknown factors.

When load building and optimization technology is built directly into a transportation management system (TMS), the router or scheduler can view all unscheduled orders in an intuitive portal before seamlessly routing the shipment. They can filter by route, warehouse, order type, commodity group, date for delivery, account, order source or even pooling location to build a load with the parameters of their choosing.

Technology like Kuebix’s Load Builder and Optimizer is helping companies move away from manual processes and ensure they are always building the most optimized truckloads. Users can view routes on an interactive map, consolidate shipments with easy drag and drop features, and get alerts if any pre-determined parameters aren’t met. Users save time by comparing the most cost-effective and optimized loads and routes and can easily manage first mile, final mile and pool distribution shipments.

With load building and route optimizing technology, companies gain complete control overload consolidation and optimization. They never miss an opportunity to save money and can plan loads and routes with transparency in an organized way. With pricing analytics at their fingertips, logistics teams can even compare pre-consolidation and post-consolidation costs to see exactly how much money is being saved.