5 Truckload Freight Broker Tips to Find Capacity in Volatile Markets

Truckload freight broker services are in as high demand as ever, thanks to the shifting trends and focus within the modern-day supply chain. Services like digital freight matching and capacity management are changing how brokers react to market changes and disruptions. Dealing with the volatile nature of the market today and the ever-changing needs and demands of consumers is the primary focus of truckload freight brokers. There are some tips freight brokers can begin implementing to make their work easier and to make navigating the market more accessible and more profitable for everyone. 

1. Leverage Bridges to Connect with TMS Platforms

Building a network that effectively utilizes digital solutions requires full integration of modern tools and automation. Brokers can streamline daily processes and functions by connecting existing systems and processes with an innovative TMS platform, working with consultants and third-party service providers to offer an outside perspective for freight load management. It also can help managers leverage the power of truckload brokerage more efficiently. Identifying and dealing with areas of tension and disruption becomes more manageable with the right TMS platform in place.

2. Take Advantage of Automated Waterfall Tendering to Cover All Loads

During times of disruption, it becomes clear where weak points lie in capacity and tendering. With less capacity available, ensuring adequate coverage and competitive rates are available becomes a critical part of broker management. Prioritizing digital tools, such as AI-based instant quoting services and automated tendering processes, can help truckload freight brokers keep the competitive advantage. By recognizing specific tasks that can be streamlined and automated, this tip allows brokers to offer more applicable and sensible technology services for all loads handled by shippers and carriers.

3. Eliminate Uncertainty with Push Notifications to Track Acceptance/Rejection

With the ongoing implementation of digital platforms, real-time data analytics, and automation capabilities, it has gotten more accessible than ever to maintain strong communication lines throughout the supply chain. By embracing analytics, automation, digital platforms, and instant notifications, truckload freight brokers can track bid acceptances and tender rejections in real-time. Updating tools and technology to focus on data sharing and information distribution can improve communications across the board and keep everyone on the same page. Knowing when loads are accepted and when they get rejected allows for more efficiency in freight management. 

4. Let the Data Guide Tendering Processes to Offer Competitive Rates for All Loads

Reacting to market trends, supply chain disruptions, and fluctuating capacity requires brokers to adjust in real-time. According to Inbound Logistics, supply chain leaders cannot effectively plan or predict changes in the market without data-driven processes and tools. Investing in new ways to tap into the power of modern technologies and automated processes allows truckload freight brokers to adapt to market changes and remain competitive with their rates. Data-back tendering and innovative bid and proposal tacking allows for more efficient predictive planning from end to end. The broker offering the most competitive rates during times of disruption and volatility often secures the competitive advantage.

5. Take Advantage of the Limitless Scalability of SaaS-Based Platforms That Rely on Subscription Models

Following periods of disruption and instability, securing freight contracts and RFP bids becomes more challenging than ever. The need to retool existing systems with automation technologies and digitally backed methods is often necessary yet can be tricky to implement among all these tips mentioned as change management to evolve systems becomes the focus. Growing with the e-commerce market and taking advantage of modern tools and processes ultimately comes down to the scalability of the truckload freight brokers platforms. The rise of SaaS-based platforms and services is something that brokers cannot overlook or discredit.  These innovative service models can set a new precedent that can take the modern-day supply chain to new heights.

Use these Freight Broker Tips with the Right Brokerage Technology to Find Capacity 

Dealing with market uncertainty and responding efficiently to disruptions that arise remains a primary focus for freight brokers everywhere. The goal of these tips plus the right technology for the truckload freight broker is to find capacity and maintain truckload management no matter how the market trends. Combining technology and automation with experienced broker management makes capacity procurement one less thing that truckload freight brokers have to stress over. Contact newtrul today for a demo to get started.