Freight brokers and shippers have a lot to manage and keep track of when vetting carriers and securing affordable capacity. Taking advantage of modern freight technology and their access to the online freight marketplace is the key to success. Trucking companies, entire fleets, and even independent truckers can access these load board listings. It’s essential to know how freight technology streamlines management.
Challenges Leading to the Need for Digital Freight Technology
The need to secure high-paying loads comes from some core challenges that the industry faces. These include but are in no way limited to the following:
- Increased customer demand - when consumer demand increases, more capacity is needed to take on those orders and secure the loads.
- Greater pressure from competitors - competitive pressure fuels growth, but it can also drive operational costs and affect load acquisition.
- Capacity constraints and limits - all freight brokers know the importance of filling loads while dealing with limitations and disruptions.
- Shorter lead times and smaller windows - when demand increases, capacity is difficult to secure and freight technology becomes vital to success.
Rising costs and added expenses will continue to affect the industry. However, streamlining securing capacity for shippers and brokers reduces freight cost per mile and allows carriers to utilize assets more effectively.
Freight Technology Immediately Create Transparency With Your Carrier Network
Having transparency and end-to-end visibility is critical in securing capacity and keeping windows of available moves open. According to Logistics Management, “visibility management systems are further systems augmentations to core TMS that provide real-time tracking information from multiple sources.” While that’s specific to a TMS, it’s equally valuable to realize that freight technology may integrate with the TMS to offer more streamlined, efficient management. Espousing these ideas and advancement is vital for brokers’ and shippers’ success throughout the network. Starting on sound footing with fast load acquisition and good communication is key to maintaining a carrier network that works.
Added Benefits of Freight Technology That Build a Successful Brokerage or 3PL
Digital freight technology and load listings efficiently connect 3PLs and brokers with carriers to secure meaningful capacity and avoid delays in negotiating rates and vet carriers with a turnkey process. Additionally, there are many benefits that brokers and 3PLs realize through the use of advanced freight technology, including:
- They contain all necessary information in an easy-to-digest format.
- Load boards contain up-to-date information related to available load types.
- The boards are often inexpensive and quickly pay for the initial investment.
- Listings are accessible anytime and anywhere.
- Using freight technology benefits brokers and 3PLs by connecting available loads with a trusted carrier.
- Using a load board allows carriers with a brokerage division to keep their trucks full and on the road in addition to securing other capacity.
- Accessibility of freight technology is optimized for mobile use, remote viewing, and on-demand access, especially when combined with a TMS or other supply chain system.
Tapping freight aggregators will increase automated booking rates, reducing costs along the way. And fewer negotiations during securing freight load capacity can help ensure better rates. When used with a computerized platform, these digital freight technologies make the entire process faster and easier. For instance, the single connection point may help boost booking rates, lower costs, reduce empty miles, and enhance profit margins throughout the supply chain network.
Realize Stronger Profitability With newtrul’s digital marketplace
Trucking companies, fleet managers, shipment brokers, and even independent truckers will benefit from the information available on these virtual load board listings. Above all else, remember that freight technology efficiently connects shippers with carriers who are seeking capacity and carriers seeking to find loads. Contact newtrul to take a look at our platform and how it can aid you in efficiently booking loads.