The growing demand for fast, affordable, and reliable shipping options has put more pressure than ever before on the shoulders of supply chain managers and logistics directors. Carrier revenue and capacity management is more critical now in the face of unprecedented levels of pressure. The modern supply chain network has changed in some powerful and significant ways over the last few years. And many of those changes, such as the renewed focus on shared truckload (STL) shipments, are likely here to stay. According to Flock Freight, “the shared truckload method enables shippers to deliver damage-free loads on time and enjoy savings of 20% or more in the process. With STL service, shippers share the cost and deck space of a full-size trailer and guarantee the efficiency of truckload (TL) service, minimizing delays... By keeping trucks full of freight from more than one shipper, the STL mode offers TL service at a better rate.” Creating an STL system for shipping networks and local supply chains can help secure future growth and stability, even during uncertain markets.
What Is Shared Truckload?
For a quick comparison now on how shared truckload service compares to the TL and LTL modes, consider the following:
Truckload: One truck moves freight from a single shipper to a single destination where cargo can then be unloaded, and the truck return for the next load up.
Less-than truckload: The movement of freight through distribution centers and terminals, using the hub-and-spoke model, to get cargo to the final customer.
STL enables several shippers to share trailer space in one multi-stop full truckload in order to find capacity. It is essentially the transportation industry’s version of carpooling and aims to optimize available space on trucks and maximize efficiency in transportation.
Why a Freight Aggregator Is Critical to Shared Truckload
An aggregator essentially is a collector or organizer. Within freight transportation, an aggregator makes it easier for carriers to find and collaborate with shippers to meet transportation market demand. Freight aggregators accomplish this with the use of user-friendly interfaces and digital dashboards and collaboration platforms. Working with a freight aggregator or broker helps carriers capitalize on STL opportunities in several ways:
Enhances carriers’ ability to fill trucks quickly while giving them the confidence and freedom to pick and choose loads. This allows them to capitalize on loads that pay more than standard truckload shipments.
Optimized routes are easier to set up and monitor so carriers can maximize every man hour and every mile invested into a load. STL loads make it easier to lay out routes that don’t take drivers out of their way for a single drop-off.
From load board access to personalized assistance and recommendations, working with a freight aggregator makes everything more streamlined. Utilizing this mode helps maximize capacity and maintain overall efficiency.
Tips for Leveraging Shared Truckload as a Carrier
Setting up a system that can properly utilize STL from a carrier’s perspective requires the following:
Ability to monitor and analyze current market trends in the network
Insight into customer needs and demands across multiple industries
Adaptable routes and delivery modes to respond to market shifts
Scalable models and processes to accommodate market highs and lows
Collaborative platforms and real-time communication opportunities
Mutually-beneficial partnerships between carriers, shippers, and brokers
Access to digital freight load boards and bidding platforms
An innovative approach to driver management and route planning
The open mind to new and improved tools, software, and processes
The days of pouring over traditional load boards, hours of phone calls, and outdated transportation methods are a thing of the past. The benefits and rewards of using a digital freight aggregator and the digital freight marketplace, are more apparent than ever before. It is particularly critical for carriers today to work towards capitalizing on shared truckloads.
Reap the Rewards of Shared Truckload by Using newtrul
Shared truckload freight is different from the other standard methods of transportation as it moves freight directly from its pickup location to its destination. By accessing high-end capacity, load boards help carriers maximize loads and profits. Working with a freight aggregator allows carriers to quickly and easily capitalize on STL opportunities when they arise. This game-changing approach to freight transportation and management can be made easier with access to carrier-centric services. Contact newtrul today to learn more.