The freight market has changed dramatically in recent years. The growth of e-commerce has led to increased demand, while new technologies are changing how businesses can move goods from one place to another. Carriers are using technology to handle this change and help their customers get the best prices and services in a volatile market.
Using Technology to Handle Freight Market Changes
Technology can help you find new carrier partners, secure capacity in the face of higher rates, and handle capacity shortages.
If you have an account with a freight management system (FMS), it’s easy to search for carriers that might be able to provide what your company needs. You can also use technology to identify potential partners by location or other factors such as equipment type and experience with a specific freight market or industry.
You might want to consider using software that allows you to bid on capacity directly from shippers or brokers, which can help reduce costs associated with freight brokerage fees by eliminating them altogether if there is no third party involved.
Handling Capacity Shortages
In the past, freight brokers were able to find and secure capacity by searching through a wide range of sources. Today, technology makes it possible to search multiple sources simultaneously, and this is especially helpful in times of shortage. The internet allows brokers to search multiple websites and databases at once, so they can find the best deal on shipping space. Technology also helps them manage their relationships with carriers through tools like load boards and email alerts about changes in rates or availability for specific lanes. These tools allow brokers to keep track of carrier performance as well as negotiate prices more effectively than ever before
Securing Capacity in the Face of Higher Rates
If you want to keep your transportation costs low, it’s important to secure capacity in the face of higher rates. This can be done through technology that allows you to find the right carrier partners and ensure they are reliable and trustworthy.
Here are some tips for using technology when securing capacity:
- Use a cloud-based system that gives you access from anywhere at any time. You’ll be able to monitor what carriers are available and their rates, as well as negotiate contracts with them directly through the application–without having to call them or send emails back and forth constantly! This will save time and money on your end, keeping costs down while still getting quality service from reliable carriers who have been vetted by others before being added to our network (which means we know they’re trustworthy).
Finding New Carrier Partners in the Face of Brokerage Consolidation
When you’re looking for new carrier partners, consider the following:
- The cost of brokerage fees. Brokerage consolidation has led to higher rates, which means you’ll have to pay more in order to use a broker who can match your needs with a carrier that fits them.
- The cost of freight rates. If you’re trying to save money by working directly with carriers, make sure that they offer competitive pricing and don’t charge extra fees for services like fuel surcharges or additional charges for loading your freight onto their trucks (which is illegal).
- Delivery times are another important factor when choosing how you want your shipments delivered–and technology can help here too! There are apps available on smartphones that allow shippers and receivers alike access real-time information about where their cargo is currently located so they know exactly when it will arrive at its destination as well as whether there’s any chance something might go wrong along the way (elevator outage? Traffic accident?). This kind of transparency makes everyone involved feel comfortable about where things stand at all times–and reduces stress levels overall because nobody needs surprises when dealing with expensive cargo worth thousands (or even millions) dollars per shipment!
Conclusion
We expect to see the freight market continue to evolve in the coming years. Freight brokers will face increased pressure to consolidate their businesses and find ways to keep up with demand, while carriers will face new challenges as they look for ways to increase capacity without sacrificing quality. As this happens, it will be more important than ever for shippers and carriers alike to rely on technology tools that help them make smarter decisions about how best to handle their freight needs.
