The shipping and carrier industry by design embraces adaptability and versatility. The ability to adjust to handle supply and demand changes is a distinguishing trait of the freight market. One thing that’s speeding the recovery is the rise of effective technology to keep trucks full and on the road and allow shippers and brokers to find capacity at their desired budgets. With the continued use and development of digital freight matching (DFM) platforms and freight aggregator technology, it gets more accessible than ever to secure capacity and maximize profits.
Defining Digital Matching in Logistics
The ins and outs of freight logistics can benefit from a central and easy-to-use method of capacity procurement. Digital freight matching presents the most efficient way to connect freight managers and drivers with available loads. According to Supply Chain 24/7, “Digital Freight Matching lets shippers directly and almost immediately find drivers with the capacity to transport their truckload (TL), partial truckload, and less-than-truckload (LTL) freight on the right types of trucks on the dates and routes that they need.” That creates a marked competitive advantage and on-demand access, making it possible for brokers and shippers to remain productive. They can take full advantage of meaningful capacity procured at their desired price to maximize profits with every single load. All of this is made possible with automated freight matching insight and readily available digital freight marketplace resources.
Why Digital Freight Matching Is the New Standard for Efficiency
Automated systems and digital capacity dashboards have become the norm and will continue as the new standard for efficient freight procurement for several reasons, including:
Load volumes continue to grow and boost revenues. When carriers can easily acquire larger loads, they need to increase capacity to keep up. Knowing what to expect with a real-time load feed, allows for more trucks to stay on the road and helps drivers avoid empty backhauls.
Delays in booking amount to massive swings in profitability per load. With faster load acquisition, the profitability of every load increases. Loads yield more profits and incur less cost with real-time automated booking and load management thanks to digital freight matching platforms.
Digital processes save time and money for your team. Utilizing real-time data and digital management and booking processes means less time gets wasted. With more loads secured and completed, earnings throughout the supply chain network rise.
It allows for predictive rate tendering and analysis. These tools help improve pre-existing partnerships with carriers of choice, 3PLs, management, drivers and customers. Predicting highs and lows help carriers maintain the competitive advantage for load acquisition.
It’s simply more practical and casts a wider net for available capacity. Digital freight matching platforms and dashboards make it easy to search for a much more comprehensive range of postings. Instead of endless phone calls and emails, opting to use load boards, capacity stays at an all-time high much more quickly.
Actionable Steps to Leveraging Digital Resources to Boost Throughput
Establishing and then maintaining access to consistent capacity through digital freight matching help keep the network on the same page. Several key steps can help make the most of this digital resource, including:
Stay transparent and keep open communication lines with all carrier partners and team members.
Use API and EDI whenever possible to connect to more companies with an automated platform.
Integrate freight load matching dashboard monitoring within an existing TMS.
Think outside the box and stay ahead of the competition with targeted carrier networking.
Use real-time data monitoring to track and measure performance throughout the supply chain.
Enable management by exception to help speed up response time and reduce disruptions.
Let the data predict and handle ratings and act in a proactive rather than reactive manner.
Take Advantage of Advanced Freight Matching With the Right Partner
Working with load transactions can be complicated in the best of times. Following 2020, the need for smooth and easy transactions and load acquisition has never been more critical. Such a reason exemplifies why freight matching services remain vital for freight management in 2021 and beyond. Contact newtrul today for a free demo and to get started.